INTERNATIONAL JOURNAL OF STUDENT PERFORMANCE AND EDUCATIONAL RESEARCH

Abstract

Clusterization and the emergence of new businesses play crucial roles in regional economic development. This study focuses on the case of Mechanic Village in Uyo, Akwa Ibom State, investigating how business clusterization influences the formation and growth of new enterprises. Through a comprehensive case study approach, this research explores the dynamics within Mechanic Village, analysing the factors contributing to the concentration of automotive repair and related businesses in this cluster. The study delves into the mechanisms by which knowledge transfer, resource sharing, and collaboration occur among businesses in the cluster. Methodologically, a combination of qualitative and quantitative methods is employed. In-depth interviews with key stakeholders and business owners provide insights into the motivations for clusterization and its effects. Additionally, a survey-based approach gathers data from 399 respondents. The findings of this study have implications for policymakers, business development agencies, and entrepreneurs. Understanding the dynamics of clusterization and its impact on new business emergence can guide strategies to promote economic growth and innovation at the regional level. The Mechanic Village in Uyo serves as a pertinent case study, shedding light on the mechanisms that underlie successful business clusterization and its role in fostering a conducive environment for new business ventures.