INDIGENOUS ENTREPRENEURSHIP AND INTERGENERATIONAL WEALTH TRANSFER AMONG GRADUATES IN LAGOS STATE, NIGERIA

Abstract

Promoting economic empowerment among Indigenous communities worldwide has made Indigenous entrepreneurship and intergenerational wealth transfer increasingly crucial. Recognizing the importance of economic sustainability and cultural preservation, Indigenous individuals increasingly embrace entrepreneurship to create wealth, generate employment opportunities, and foster community development. This study aimed to explore how Indigenous entrepreneurship graduates contribute to transferring wealth, knowledge, and business assets to future generations while preserving Indigenous cultural values. The research employed a combined approach of correlation analysis and Participatory Action Research (PAR) methodology to achieve comprehensive insights into the study. This method facilitated a holistic understanding of the subject matter. Correlation analysis results indicated a significant and positive relationship between Indigenous entrepreneurship and intergenerational wealth transfer among graduates in Lagos State (r = 0.76, p < 0.001). These findings suggest that increased engagement in Indigenous entrepreneurship practices among graduates is associated with higher success in transferring wealth to future generations Moreover, the Participatory Action Research (PAR) methodology ensured the active involvement and collaboration of various stakeholders, including Indigenous communities, graduates, policymakers, and researchers. The study aimed to incorporate these key stakeholders' perspectives and expertise. Based on the results, indigenous knowledge was recommended to be integrated into entrepreneurship education curricula and establish mentorship programs connecting graduates with successful indigenous entrepreneurs. These initiatives aim to foster a supportive environment that empowers indigenous graduates to succeed in entrepreneurship while preserving their cultural heritage.