Entrepreneurship has been globally recognised as a panacea to the menace of joblessness and unemployment [1]. One of the identified strategies for reducing unemployment; successfully integrating the socially excluded youths into the labour market and the larger society is entrepreneurial career [2]. As such, governments, non-governmental organisations and well-to-do men/women have been organising entrepreneurship development programs that are targeted at re-engineering the mindsets of youths and exposing them to diverse creative and effective activities [2,3,4]. However, as noted by Agbim [5], with the failure of the government to provide the needed supports for entrepreneurship development; particularly to the youths, owing to the corrupt practices involving those saddled with the responsibility of implementing the programs, the real challenge for policy makers and researchers alike is how to spur or trigger the intentionality of youths towards self-employment or starting and/or owning a business enterprise.

Apart from government supports towards entrepreneurship development, universities also support entrepreneurship development among students. Universities facilitate the development of entrepreneurial culture among students through programs and activities that are targeted at re-engineering the mind-sets of the students towards being willing to start and/or own businesses (i.e., entrepreneurial intentions) either before or upon graduation. This idea is premised on the fact that entrepreneurial skills and knowledge will drive entrepreneurship development. Again, like government, non-governmental organisations and wealthy individuals’ support towards entrepreneurship development, the efforts of universities via their entrepreneurship programs have not yielded the desired effects and outcomes. Despite all these efforts, the level of entrepreneurial intentionality among graduates of Nigerian universities leaves much to be desired. This is depicted by the increasing number of jobless unemployable university graduates on the streets of Nigeria.

Today, researchers have alluded to the fact that the families (i.e., family backgrounds) where these students come from can also be a strong determinant of their entrepreneurial intentions. Family has been wired by God to influence a child’s life in totality; including career choice such as creating and/or owning a business. The activities within and around the family has the potentials to stir entrepreneurial intentions in family members. As such, family background can influence members’ family, personal, social, business, career, marital, educational and moral lives. Most often, parents do this based on the perception that contributing to the improvement of their children’s lives and sustaining their family’s values through their children is an obligation. The social cognitive learning theory affirm that an individual’s perception of his/her abilities plays a crucial role in fostering entrepreneurial intention. The theory of planned behaviour adds that such entrepreneurial intention can be triggered mainly by planned and goal-oriented behaviours. Subic et al. [6] aver that supportive family background contributes to the development of future entrepreneurial activities among young people.

It is a truism that existing theoretical and empirical researches have linked youths’ apathy towards entrepreneurship to intentionality. But on a general note, research has shown that the three factors that can influence entrepreneurial career choice are social factors, personality factors and economic factors [2]. The effects of these factors can be positive or negative, direct or indirect [2,7]. The combination and interaction of these factors have been found to drive the concerned individuals to make career choices in entrepreneurship. Similarly, researchers also agree that the family remains one of the epicenters for re-engineering the mindsets of young people to create entrepreneurial intentions [1,2,8].

However, what has not been sufficiently brought to the fore are the factors within the family that triggers entrepreneurial intentions among young people. Specifically, some studies that have related family background to entrepreneurial intention failed to identify the factors [1,2,4,8], while those that did are still few [3]. Results on the relationship between prior experience, family financial status and parental support on one hand and entrepreneurial intentions are discordant; some reported positive relationships [9,3], while others established negative effects [10,11]. The inconsistent findings have reinforced the need to further examine the relationships.

Based on the foregoing, this study seeks to investigate the effects of prior experience in family business, family financial status and parental support (as dimensions of family background) on entrepreneurial intentions with a special focus on students in the Department of Entrepreneurial Studies, Veritas University, Abuja.

Literature Review 

Family Background

Family business refer to a business that is owned, controlled and managed by dominant member(s) of the same family with intergenerational transfer agender [12,13,14]. The family business is influenced by the family via the family background. The family background depicts the family members’ individual life styles in line with the general family life styles. Family members who portray their entrepreneurial family background are usually expected by their parents to nurture their business and to be morally obligated to maintaining the sustainability of the business. The key hallmark of entrepreneurial family background is that the parents or family members are self-employed. For family members, this is achieved when the entrepreneurial family background influences their vocational choice thus enabling them to pursue their entrepreneurial career through the formation of entrepreneurial attitudes, subjective norms and perceived behavioural control. As noted by Rivai et al. [4], the future career intentions of students may be triggered when their family business background stems from a particular familial context. The family business background might strengthen their willingness to transform these intentions into actual behaviours. Thus, in this study, family background refers to those activities, practices, values and characteristics that define a family. This includes cultural, social, environmental, economic, educational and political factors. However, prior experience in family business, family financial status and parental support are used as the dimensions of family background in this study.

Prior Experience in Family Business

As suggested by the family embeddedness perspective, family as an institution can foster prior experience acquisition for family members. This experience enhances start-up decision making, development of entrepreneurial capacities and achievement of entrepreneurial success. Prior experience in family business refer to the knowledge garnered by being involved in the ownership, management and control of family business(es) in the past. These experiences have the potential to facilitate skills and knowledge acquisition, mind-set re-engineering, alignment of the family member’s attitude towards entrepreneurship and entrepreneurial intention. Miralles et al. [15] aver that these prior experiences stem from the different paths the family members have taken in life. Moreover, the different life trajectories and expectations arise from the diverse educational backgrounds, family context and work experiences. The direct experiences help individuals to learn the favourable and unfavourable attitudes of entrepreneurial behaviour that can result to positive and negative outcomes. Direct experiences can positively impact on an individual’s attitude towards entrepreneurship, perceived behavioural control and subjective norms. Prior start-up experience helps entrepreneurs to develop entrepreneurial intentions and to identify and exploit opportunities [16,17,18].

Family Financial Status

Household income is a key determinant of family activities and parental responsibilities to children. A key barrier in the way of parents and the quality and quantity of activities they get involved in and responsibilities they discharge for the good of their children and the household in general is relative poverty. Poverty can help to determine the opportunities available to the children who are students in the household. As such, family financial status or family income level influences the career choice, entrepreneurial interests and the willingness of the students to start and/or own businesses [9,10,19]. Therefore, family financial status represents the annual income of the family.

Parental Support

Parents are individuals who are saddled with the entrusted responsibility that requires using their acquired knowledge and skills to manage the process of birthing, rearing, caring and training their children to ensure they are well developed [20]. Parents serves as early role models for their children. This is irrespective of whether they are entrepreneurs or not. Parents shape the lives of their children through exposure, interaction and guidance [21]. Parents and other family members with an entrepreneurial background are a key source of support at no cost or low cost. This is usually based on the close ties and personal relationships among the family members [22,23]. Such parents and other family members support their entrepreneurial members by providing them with social networks such as suppliers, business partners, or even customers [22,24]. Parental support received by entrepreneurial members can facilitate the development of entrepreneurial intentions, development of entrepreneurial capabilities and the founding of a business [21]. Corroborating this view, Luis-Rico et al. [25] affirmed that parents contribute to the willingness of their children to start and/or own businesses. Therefore, parental support in this study refers to parent’s behaviour or reaction towards the activities of their children and/or wards who are student. This includes affection, advise, praise and reproof.

Further, individuals whose parents are entrepreneurs do not always intend to take over their family business. Rather, they want to be engaged in other activities. Whichever way, they receive better supports to start and/or own a business than those whose parents are not entrepreneurs [26]. The different forms parental support includes emotional support, appreciation support, instrumental support and informative support. Emotional support entails expression of feelings, empathy and attention to family members to make them feel comfortable, loved and cared for. Appreciation support represent a positive evaluation of family members’ ideas, feelings and performance. It is expressed by showing respect for family members. Instrumental support refers to aids given to family members. It can be financial or non-financial (i.e., supervision, fulfillment of personal needs, help in completing a task). Informative support includes information, advice, guidance and feedback on how to solve a particular problem [27], Annisa et al. [28] adds that supportive families encourage enterprising members through the provision of venture capital. However, an aversion of the family member’s attitude towards entrepreneurship might result when the parent’s entrepreneurial backgrounds are characterised by failures [21].

Entrepreneurial Intentions

Intention represents a plan to put up a particular behaviour. It is a motivation to behave in a certain way. These behaviours are evaluated before they are performed; whether or not they will be performed is dependent on the outcome of the evaluation [29]. Therefore, entrepreneurial intentions represent a state of consciousness that directs the attention, experience and behaviour of people towards entrepreneurial behaviour Bird, as cited in Antawati, [30]. This definition suggest that the development of entrepreneurial behaviours can be determined or planned. The efforts required to develop these behaviours are motivated by three factors; personal attitude toward start-up, subjective norm and perceived behavioural control. Entrepreneurial intention can as well be described as the motivational factors that encourage individuals to pursue entrepreneurial activities [4]. In this study, entrepreneurial intentions refer to the willingness to start and/or own a business enterprise.

Underpinning Theories 

The underpinning theories for this study are Social Cognitive Theory (SCT) and Theory of Planned Behaviour (TPB). The SCT as postulated by Bandura [31] states that learning takes place in a social context, with a dynamic and reciprocal interaction among the individual, their environment and their behaviour. The SCT is used to analyse the effect of family background (i.e., prior experience in family business, family financial status and parental support) on students’ entrepreneurial intention due to its explanation of human behaviour [1]. Further, the TPB proposed that desired actions by individuals will usually be initiated by intentions, which is influenced by elements of attitude, control and norms. The intended personal attitude towards relevant activities and behavioural control are seen based on the individual's perception of how easy or difficult their plans will be. The subjective norm is determined by the opinions of others, which can encourage or hinder someone from implementing the plans [32]. However, since the TPB assumes that individual behaviour is controlled only by intentions and ignores other interfering factors, its explanatory power, application and promotion is limited [33]. Despite the criticism, the SCT has helped researchers to understand why some people choose an entrepreneurial career, while others do not. Also, it has been proved to be suitable for studies on entrepreneurial intentions [34,35]. 

Hypothesis Development

It is evident in extant literature that so many factors can trigger entrepreneurial intensions. High family income can trigger entrepreneurial intention in students [19], while family financial status is impacts students’ entrepreneurial intentions through entrepreneurship education [9]. In the words of Zeb et al. [36], family income and financial risk tolerance contribute to entrepreneurial intention. Further, entrepreneurial knowledge positively influences entrepreneurial intention through the perceptual variables of the personal attitude, social norm and perceived behavioural-control [15]. Again, entrepreneurial knowledge that is obtained via prior business family exposure affects student’s entrepreneurial intention and attitude [37]. Nguyen [3] noted that students whose parents are self-employed have higher entrepreneurial intention. Sahinidis et al. [34] observed that age and prior working experience affected entrepreneurial intention. Tian et al. [8] found that prior business experience, opportunity recognition and entrepreneurial education predicts entrepreneurial intentions. More recently, Malebana and Mothibi [17] confirmed that prior exposure to entrepreneurship; in the form of involvement in business ownership, start-up activities, entrepreneurial role modelling and business activities with family friends and other entrepreneurs has no significant effect on entrepreneurial intention and its antecedents. 

Research has also shown that parental interest in entrepreneurship has different association with entrepreneurial interest [25]. As such, parental influences (in the form of parental expectations, perceived parental outcomes and parental identification) significantly influence the next generation family members’ intention to join the family business [20]. Moreover, the relationship between family support and entrepreneurial intention is very significant and positive [28]. Nexhipi et al. [39] empirically affirmed that parents influence the entrepreneurial intentions of young people. Accordingly, we hypothesise that:

H_O1:  Prior experience in family business has no significant effect on the entrepreneurial intention of students in the department of entrepreneurial studies, Veritas University, Abuja

H_O2:  Family financial status has no significant effect on the entrepreneurial intention of students in the department of entrepreneurial studies, Veritas University, Abuja

H_O3:  Parental support has no significant effect on the entrepreneurial intention of students in the department of entrepreneurial studies, Veritas University, Abuja

A cross-sectional survey research design was adopted to generate data via questionnaire on family background (i.e., prior experience in family business, family financial status and parental support) and entrepreneurial intentions. The study population is 69; this comprises all the students in the Department of Entrepreneurial Studies, Veritas University, Abuja, who have been exposed to the practical aspect of entrepreneurship. As such, all 100 level students and 200 level direct entry students who were admitted in the 2022/2023 session did not participate in the study. Thus, the study participants were restricted to only 200 (excluding direct entry students), 300 and 400 levels students in the department. The choice of the geographical and time scopes is to ensure that all the respondents must have had entrepreneurial exposures for a period that is long enough for them to start experiencing mind-set re-engineering. Further, these students must have taken the General Studies (GST) courses in entrepreneurship; GST 223 (Introduction to Entrepreneurship Skills) and/or GST 311 (Entrepreneurship Advanced Skills).

A criterion sampling technique was adopted to select the students that participated in the study. The selected students were screened based on the predetermined criteria that: (i) the parents work in or own a family business; (ii) that the student was partly or wholly involved in a family business; and (iii) the student actively participated in previous entrepreneurship courses he/she has taken. Based on the aforementioned criteria, the sample size for the study is 67 respondents. Owing to the small sample size, census method was adopted. Since students were the only category of respondents for the study, they were therefore adopted as the unit of analysis. The measures of the variables in the questionnaire were adapted from previous works. Specifically, the measures of prior experience in family business are: “I have helped my parents to manage their business for entrepreneurial early childhood experiences”, “I have attempted to start a business from prior start-up experiences”, I have done a holiday job in a business founded by my elder brother for work experience”, “I gained prior experience from the business I started before I was admitted into the university” and “My involvement in the control of my business helps me to garner prior experience”. 

Further, the measures of family financial status are: “My parents’ annual income is from multiple sources”, “My parents’ annual income is more than enough to pay the family’s bills”, “My parents save a large part of their annual income”, “My parents fund the savings accounts of I and my siblings from their annual income” and “My parents pay the yearly allowance of I and my siblings from their annual income”. The measures of parental support are: “My parents will approve my entrepreneurial actions”, “My parents will encourage me to start my business”, “My parents will caution me when necessary to help me start my own business”, “My parents will provide me materials and equipment to help me start my own business” and “My parents will give me advice on how to start my own business”. The measures of entrepreneurial intentions are: “My goal is to have my own business”, “I will make every effort to start and run my own firm”, “I am determined to create a firm in the future”, “I have very seriously thought of starting a firm” and “I have strong intentions to start a firm someday”. 

The variables in the measurement scale were assessed on a 5-point Likert scale that ranged from strongly agree (5) to strongly disagree (1). The validity of the measures was confirmed by three lecturers in the Department of Entrepreneurial Studies, while the reliability was confirmed by the Cronbach’s alpha value of 0.79. The data on the students’ demographics were analysed using descriptive statistics - frequency counts and simple percentages. The collinearity of the dimensions of family background (i.e., prior experience in family business, family financial status and parental support) were tested with the aid of Variance Inflation Factor (VIF) and Tolerance (reciprocal of the VIF). Linear regression with the aid of the Statistical Package for Social Sciences (SPSS Version 25.0 for Windows) was employed to test the three research study hypotheses. 

Model Specification:

Hypothesis one: EI = β₀ + β₁PE + e                                    (i)

Hypothesis two: EI = β₀ + β₁FF + e                                    (ii)

Hypothesis three: EI = β₀ + β₁ PS + e                                (iii)

Where:

EI  =  Entrepreneurial intentions

β_0`  =  The intercept of the line with Y - axis

β₁   =  The slope. It estimates the rate of change in Y for a unit change in X

PE =  Prior experience in family business

FF =  Family financial status

PS  =  Parental support

e     = Random error

Sixty-seven (65) of the 67 administered questionnaire that were retrieved and found useable for analysis. The analysed demographics showed that 66.0% of the students were female, while 85.1% of them were between 17 and 23 years old.

Test of Hypothesis One

The results of the goodness-of-fit and the significance of the regression of entrepreneurial intentions on prior experience in family business are presented in Tables 1a and b.

Table 1a showed that a strong relationship exists between prior experience in family business and entrepreneurial intentions (R = 0.688). Thus, prior experience in family business can influence entrepreneurial intention. The coefficient of determination (R²) of 0.473 showed that prior experience in family business significantly contributes to entrepreneurial intentions. Adjusted R² revealed that prior experience in family business explained 47.3% (Adj. R² = 0.473) of the total variation in entrepreneurial intentions, while the standard error (0.438) suggest that prior experience in family business is significant in explaining the variation in entrepreneurial intentions. Therefore, prior experience in family business is important in facilitating entrepreneurial intentions. Since the Durbin-Watson is approximately 2.000, there is no autocorrelation in the errors of the regression model; the predictor is somewhat significant. The collinearity statistics in Table 1b showed a tolerance value of 0.760 and a Variance Inflation Factor (VIF) value of 1.040. The tolerance value is higher than .40 and the VIF value is less than 2.500, it implies that the data has no collinearity problem. Table 1b further revealed that the effect of prior experience in family business on entrepreneurial intentions is significant and positive (β = 1.352, t = 9.538, p<0.05). We therefore reject H₀₁ and conclude that strategic factors have significant and positive effect on the entrepreneurial intentions of students in the department of entrepreneurial studies, Veritas University, Abuja.

Test of Hypothesis Two

The results of the goodness-of-fit and the significance of the regression of entrepreneurial intentions on family financial status are presented in Tables 2a and b.

Table 1a: Goodness-of-fit of the Regression of EI on PE 

Predictors: (Constant), PE, Dependent Variable: EI, Note: EI = Entrepreneurial Intentions, PE = Prior Experience in family business, Source: SPSS Output, 2023

Table 1b: Significance of the Regression of EI on PE

Predictors: (Constant), PE, Dependent Variable: EI, Note: EI = Entrepreneurial Intentions, PE = Prior Experience in family business, Source: SPSS Output, 2023

Table 2a: Goodness-of-fit of the Regression of EI on FF

Predictors: (Constant), FF, Dependent Variable: EI, Note: EI = Entrepreneurial Intentions, FF = Family Financial status, Source: SPSS Output, 2023

 Table 2b: Significance of the Regression of EI on FF

Predictors: (Constant), FF, Dependent Variable: EI, Note: EI = Entrepreneurial Intentions, FF = Family Financial status, Source: SPSS Output, 2023

Table 3a: Goodness-of-fit of the Regression of EI on PS

Predictors: (Constant), PS, , Dependent Variable: EI, Note: EI = Entrepreneurial Intentions, PS = Parental Support, Source: SPSS Output, 2023

 Table 3b: Significance of the Regression of EI on PS

Predictors: (Constant), PS, Dependent Variable: EI. Note: EI = Entrepreneurial Intentions, PS = Parental Support, Source: SPSS Output, 2023

Table 2a revealed that the relationship between the family financial status and entrepreneurial intentions is strong (R = 0.790). This suggests that family financial status can significantly influence entrepreneurial intentions. The coefficient of determination (R²) of 0.624 revealed that the relationship between family financial status and entrepreneurial intentions is significant. The adjusted R² revealed that family financial status explained 62.4% of the total variance in entrepreneurial intentions (Adj. R² = 0.624), while the standard error of 0.435 revealed that family financial status is significant in explaining the variation in entrepreneurial intentions. This implies that family financial status helps students to achieve improved entrepreneurial intentions. The Durbin-Watson statistics value of 2.000 shows that there is no autocorrelation in the errors of the regression model. Therefore, the predictor is truly significant. The collinearity statistics in Table 2b revealed the tolerance value of 1.000 and a VIF value of 1.000. Since the tolerance value is higher than 0.40 and the VIF value is less than 2.500, it implies that the data has no collinearity problem. Table 2b further revealed that the effect of family financial status on entrepreneurial intentions is significant and positive (β = 0.291, t = 3.198, p<0.05). Therefore, we reject H₀₂ and conclude that family financial status has significant and positive effect on the entrepreneurial intentions of students in the department of entrepreneurial studies, Veritas University, Abuja.

Test of Hypothesis Three

The results of the goodness-of-fit and the significance of the regression of entrepreneurial intentions on parental support are presented in Tables 3a and 3b.

Table 3a showed that the relationship that exists between parental support and entrepreneurial intention is strong (R = 0.798). This depicts that parental support can significantly influence entrepreneurial intention. The coefficient of determination (R²) of .637 showed that parental support made a significant contribution to entrepreneurial intention. The adjusted R² showed that parental support explained 63.7% of the total variance in entrepreneurial intention (Adj. R² = 0.637), while the standard error of 0.425 showed that parental support is significant in explaining the variation in entrepreneurial intention. This implies that parental intention contributed to entrepreneurial intention. The Durbin-Watson statistics value of 1.876 which is approximately 2.000 depicts that there is no autocorrelation in the errors of the regression model. Therefore, parental support is significant. The collinearity statistics in Table 3b showed a tolerance value of 0.682 and a VIF value of 1.304. Since the tolerance value is higher than 0.40 and the VIF is less than 2.500, it implies that the data has no collinearity problem. Table 3b further showed that the effect of parental support on entrepreneurial intention is significant and positive (β = 0.344, t = 6.158, p<0.05). Therefore, we reject H₀₃ and conclude that parental support has significant and positive effect on the entrepreneurial intention of students in the department of entrepreneurial studies, Veritas University, Abuja.

The linear regression analysis of the study showed first that the effect of prior experience in family business on entrepreneurial intentions is positive and significant. This result is in tandem with the findings of Ayuni [37] and Malebana and Mothibi [17]. Ayuni found that prior business family exposure affects student’s entrepreneurial intention. The similarity in result between Ayuni’s study and the current study can be attributed to the respondents, students. Malebana and Mothibi concluded that prior exposure to entrepreneurship has no significant effect on entrepreneurial intentions and its antecedents. The variation in findings can be attributed to the area of study. Malebana and Mothibi surveyed secondary school learners, while the current study investigated university students.

Entrepreneurial experience is associated with involvement in and taking part in the operations of a business venture. As such, this experience can trigger entrepreneurial intentions. In the case of students, prior experience in business can influence them to start developing entrepreneurial behaviour. Specifically, previous entrepreneurial experience can influence students to desire self-employment which can by extension trigger self-employment intentions. This experience can facilitate the acquisition of entrepreneurial knowledge and other entrepreneurial resources [3,18]. The business knowledge gained from prior experience in business can influence entrepreneurial intention [15]. This knowledge includes: knowledge of factors that can influence the discovery of opportunities; knowledge of market needs and the customers; knowledge of the risks and problems associated with new venture formation; and knowledge of how to make an appropriate decision on the new venture. Prior experience in business contributes to the development of the requisite skills and competencies required to become an entrepreneur [3,34]. 

Secondly, the effect of family financial status on entrepreneurial intentions was found to be positive and significant. This result is related to the outcome of the study conducted by Gujrati et al. [9] where they found that family financial status is indirectly related to students’ entrepreneurial intentions. The dissimilarity in results between Gujrati et al.’s study and the current study can be associated with the type of institutions studied. Gujrati et al. studied both public and private institutions, while the current study only focused on a faith-based private university. Similarly, Zeb et al. [36] established that family income and financial risk tolerance contribute to entrepreneurial intention. The relatedness in results can be associated with the geographical location of the institutions studied, that is, the institutions surveyed in the two studies are all located in Northern Nigeria. As such, household income level can affect the future ambitions of students. Specifically, the income level of families may determine the career choice of students from such families. This explains why students from low-income families are pressured to take up careers in entrepreneurship for the purpose of supporting their families financially. Moreover, students from high income households who are privileged to attend institutions of higher learning are mostly handed lucrative jobs [19]. However, on a general note, family financial support help individuals to choose self-employment and to create new ventures [9,6].

Thirdly, it was found that the effect of parental support on entrepreneurial intentions is positive and significant. This result is related to the findings of Beck et al. [20], Annisa et al. [38] and Nexhipi et al. [39]. Beck et al. [20] observed that parental influences (in the form of parental expectations, perceived parental outcomes and parental identification) significantly impacts next generation family members’ intentions to join the family business. Annisa et al. found that a very significant positive relationship exists between family support and internal locus of control with entrepreneurial intentions. Nexhipi et al. established that parents influence the entrepreneurial intentions of young people. The similarity between the current and previous results can be attributed to the significant roles parents play in the career choices of their children.

Entrepreneurial intention can be influenced by entrepreneurial networks. These networks comprise family, friends or acquaintances. For instance, family network is considered a resource for spurring the willingness to start and/or own businesses in family members. Family members can rely on their strong ties with other members of the family to obtain encouragement, advice and other forms of support that can trigger entrepreneurial intentions [40]. Further, family support in entrepreneurial context come in the form of information and financial capital. These supports can offer family members physical and psychological comfort, motivation, advice, information and real help. Also, family support helps enterprising family members in making decisions during new venture formation, developing confidence in their abilities and in positively appraising their entrepreneurial activities [28]. The formation of student entrepreneurial intentions is not only achieved through what happens in the classroom alone, it can as well be done outside the classroom through parents. Parents can contribute in triggering entrepreneurial intentions of students through what goes on within the home front and outside the home. This the contribution of this study to knowledge. 

Students can be inspired by the business-related discussions of their parents to take up careers in entrepreneurship. Students from families that own, manage and control family businesses with inter-generational considerations are often exposed to business opportunities and the challenges associated with entrepreneurial activities. Parents influence and support the career choices of their children who are students in diverse ways [20]. The Theory of Planned Behaviour (TPB) supports the foregoing on the basis that prior exposure to family business, family financial status and parental support influences students’ entrepreneurial intentions through their attitudes, subjective norms and perceived behavioural control. Similarly, since entrepreneurship is cognitive in nature, the social cognitive theory affirms that students’ entrepreneurial intentions can be triggered via entrepreneurial learning that is associated with prior experience in family business, family financial status and parental support. 

Despite the results and contribution of this research to knowledge, the study still has some limitations. The first is the limited scope; of the over 200 public and faith-based universities in Nigeria, the study surveyed only Veritas university, Abuja. This limitation has restricted the application and generalisation of the results for all the universities in the country. The second is that the study focused on students in the Department of Entrepreneurial Studies, Veritas university, Abuja. Thus, excluding students in other departments. As such, the interpretation and application of the results only focused on the department. The third limitation is related to the fact that the study focused on entrepreneurial intentions rather than the actual behaviour. This is a limitation because not all the students who expressed high entrepreneurial intentions transform these intentions to actual behaviour in the future.

This study has shown that family background contributes to entrepreneurial intentions. Specifically, the study adds to the limited studies in this area in the Nigerian context by empirically showing that family background (i.e., prior experience in family business, family financial status and parental support) can trigger students’ entrepreneurial intention. The implications of this study can be explained by relating the university undergraduate students to their family background. The involvement of students in their family businesses basically during holidays should be encouraged. This is to expose them to prior experience and knowledge. Again, programs that will ensure the empowerment and establishment of parents in their chosen endeavours is advocated. This is to ensure increase in the family’s financial status and their ability to support members to develop the willingness to start and/or own businesses. 

Recommendations

Based on the findings and the conclusions of the study, the following recommendations are made to sustain the formation of entrepreneurial intentions via family background:

• To sustain entrepreneurial intentions, families should be empowered to create family businesses. By extension, students should be encouraged to get involved in their family businesses for the purpose of acquiring entrepreneurial experience and knowledge

• A mechanism for ensuring that parents and other family members are either gainfully employed or are established via self-employment should be put in place, while the jobs of those who are employed should be secured. This is to ensure increase in family financial status

• Parents and other family members should be educated on the importance and benefits of giving diverse supports to their family members who are students. This is to enhance the triggering and actualisation of their entrepreneurial intentions

Suggestions for Further Studies

The study makes the following suggestions for further studies:

• Further studies can focus on public universities only or study more numbers of private universities. Better still, a comparative study of public and private universities can be conducted. This is to allow for more generalisation of the results

• Researchers conducting further studies can increase the sample size to include students in all the departments in the Faculty of Management Sciences, students in other related departments or students in the entire university. This is to ensure that the interpretation and application of the results covers a wider scope

• Since not all entrepreneurial intentions translate to actual entrepreneurial behaviour, future researchers should relate family background to entrepreneurial behaviour. This is to assure that all respondents who will express a high entrepreneurial behaviour during the research will actually create a business afterwards

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