CUSTOMER PATRONAGE AND ENTREPRENEURIAL GROWTH AMONG THE BEVERAGE COMPANIES IN NIGERIA

This study examined the effect of customer patronage on entrepreneurial growth among listed beverage companies in Nigeria. Specifically, this study sought to determine the effect of sales revenue, which is used as a proxy for customer patronage, on earnings after tax, which serves as a measure of EG. An ex-post facto research design was employed, using audited secondary data from 2015 to 2024. The population consisted of all five beverage firms listed on the Nigerian Exchange Group, from which a purposive sample of four companies with complete and consistent financial reports was selected. Data were obtained from the annual financial statements of the sampled firms, and the hypotheses were tested using panel-estimated generalized least squares with cross-section seemingly unrelated regression. The findings revealed that customer patronage has a significant negative effect on the entrepreneurial growth of listed beverage firms in Nigeria (β = -0.087352; p = 0.0023). The study concluded that entrepreneurial growth in listed beverage firms is shaped not merely by the volume of customer transactions but also by the firm’s ability to convert such patronage into sustainable profit margins. The study recommended that the management of listed beverage firms should critically review their cost structures and operational models to ensure that increased sales volumes do not erode profitability. Specifically, firms should adopt robust cost-control mechanisms and efficiency-driven strategies that enable them to convert rising customer patronage into sustainable financial growth