Evaluation on entrepreneurial intentions of Sri Lankan youth generation with special reference to Kurunegala district

Abstract

Entrepreneurs are often referred to as "economic growth engines” as they can make a significant positive impact towards the social and economic development of a country. Thus, the purpose of this study was to investigate the entrepreneurial intentions of Sri Lankan youth in the Kurunegala district. The United Nations defines youth as those aged 15 to 24, and the World Health Organization recognizes this age group as the youth population. This study used the assumptions of the Theory of Planned Behavior (TPB) model to address issues of entrepreneurial intentions. Social norms, entrepreneurial education, risk-taking proclivity, and attitude toward entrepreneurship were all independent variables. Entrepreneurial intention was the dependent variable. The population consisted of 384 Kurunegala district youth associated with the entrepreneurship discipline, and they were chosen as samples using purposive sampling techniques. A self-administered, closed-ended questionnaire was used to collect data, which was then analyzed using SPSS across multiple regression tests. There was no evidence of multicollinearity or heteroscedasticity. As per the results, entrepreneurial education, and attitude towards entrepreneurship have positive and significant relationship towards entrepreneurial intention whereas only risk-taking propensity did not contribute significantly towards entrepreneurship intention. Therefore, this discovery significantly contributes to our understanding of the factors influencing young people's entrepreneurial intentions in Sri Lanka. Furthermore, given the importance of entrepreneurial education as demonstrated by this study, it is critical that the nation take the necessary steps to advance entrepreneurial education and it is suggested that the entrepreneurship curriculum for students and undergraduates place more emphasis on developing youth's entrepreneurial education and attitudes.