Risk Management Practices and Sustainability of Entrepreneurial Projects in Agribusiness Sector in Rivers State

This study examined the nexus between risk management practise and sustainability of entrepreneurial projects in agribusiness sector in Rivers state. The quantitative survey research design was used to obtain data from 384 respondent who worked in agribusiness enterprises in Rivers state. The hypotheses were tested using Spearman Rank Correlation Coefficient on IBM SPSS Version 22.0. The results indicated that risk identification and assessment were positively and significantly correlated with sustainability of agribusiness projects (r = 0.337, p < 0.05). in the same vein, risk mitigation (r = 0.254, p < 0.05) and risk monitoring and communication (r = 0.285, p < 0.05) were also found to have significant positive relationships with the sustainability of agribusiness entrepreneurial projects. These findings showed that good risk management practises facilitate the realisation of better sustainability outcomes in agribusiness. This research concluded that agribusiness ventures are vulnerable and their long-term viability of ventures should be enhanced by strengthening the risk management practises. Hence, It is suggested that entrepreneurs, policymakers, and other stakeholders should focus on capacity building, support of policies, and risk management integration in business strategies in order to have a sustainable development in the sector.

Keywords: Risk Management, Practice, Sustainability, Entrepreneurial Project, Agribusiness.

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