International Journal for Faith Integration Volume6 Issue1
Faith as an Enabler of Entrepreneurial Innovation in Developing Economies: Evidence from Lagos State
Kingsley Nwaimo and Chidinma AkparantaAbstract
In the dynamic landscape of developing economies, resources and opportunities are often constrained, forcing entrepreneurs to rely on faith for conviction to undertake entrepreneurial innovation and drive economic growth. However, the role of faith in shaping entrepreneurial innovation remains under-examined. The study adopted a Schumpeterian theoretical lens and used a qualitative, exploratory design with Gioia. Lagos State was purposively selected based on its status as the most preferred business destination for entrepreneurs and startups in Nigeria. The study examines the impact of religious faith on entrepreneurial innovation in Lagos State. This was with a view to ascertaining the subliminal contributions of deeply rooted religious faith and practices that motivate and give rise to entrepreneurial innovation amongst religious adherents in Nigeria. Fifteen (n=15) participants comprised the study sample. Key Informant Interviews (KIIs) were conducted with 10 entrepreneurs and start-ups. Additionally, content analysis of personal documentation on the faith-life/business practices of 5 top entrepreneurs was carried out. Data were analysed using qualitative data analysis tools. Findings revealed that in the face of limited access and bureaucratic bottlenecks, some Nigerian entrepreneurs often turn to faith for strategic guidance, resilience, and business sustainability. These insights suggest that faith functions not merely as a personal spiritual compass but also as an enabling tool for entrepreneurial innovation and sustainable economic growth. Hence, faith-based organisations are encouraged to partner with government agencies to promote entrepreneurship innovation. The study contributes to the expanding discourse on faith as a critical impetus for entrepreneurial innovation, leveraging relevant legal frameworks for economic growth in Nigeria.
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