…………………………….… Socio-cultural elements & attrition rate of entrepreneurial contribution . . . Nigeria Journal of Business Administration 137 SOCIO-CULTURAL ELEMENTS AND ATTRITION RATE OF ENTREPRENEURIAL CONTRIBUTION IN FOOD AND BEVERAGE INDUSTRY IN IBADAN CITY ALABI Olaitan Daniel, PhD 1* , OYEBANJI Olawale Stephen, PhD 2 , OLUBITAN Oluremi Joseph 3 , AFATAKPA Onoseme Fortune PhD 4 & ADEBAYO Ayodele Tunde 5 1,3 Department of Management Sciences 4 Department of General Studies Dominion University Ibadan. Oyo State, Nigeria. 2 Department of Management and Accounting Lead City University, Ibadan, Nigeria. 5 Department of Business Administration Lagos State University of Science and Technology *For Correspondence, Email: alabiolaitand@yahoo.com ABSTRACT This study looks at the impact of socio- cultural elements on attrition rate of entrepreneurial contribution in Food and Beverage Industry in Ibadan city. The study, being a descriptive research, adopted Ex-Post-Facto research design. Random sampling technique was used to select entrepreneurs and staff in Ibadan city. A total of 352 respondents were selected for the study. A questionnaire was used to gather data for the study. The questionnaire, validated and pilot-tested on employees of British-American Tobacco Company, Ibadan were administered on the respondents with the help of three (3) research assistants. Simple percentage and regression analysis were used to analyze data collected for the study. The result of findings of this study revealed positive relationship between marital status, peer-influence, educational attainment and family background on attrition rate of entrepreneurs. The study recommended among others that business management and decision makings that affect the business should involve not only family members but every member of the venture. Keywords: Attrition Rate, Beverage Industry, Entrepreneurial Participation, Socio- Cultural. INTRODUCTION Over the years, the study of entrepreneurship and entrepreneurial role in the society has gained tremendous attention. There have been more than enough discussions on the subject entrepreneurial, entrepreneur and entrepreneurship. The growing trend in the study of entrepreneur‘s roles, the functions, and hindrances to the limitations it suffered are immeasurable. This can be understood in the context of the need to satisfy basic human wants which are food, shelter and clothing. The rise of the middle class occasioned by the continual dominance of the monopolistic upper class between the 15th and 20th century was the turning point in the emergence of entrepreneurship (Ramoglou & Tsang 2016). This era ushered in the period of ideas and innovations leading to the era of industrial revolution. Though industrial revolution era helped create a new set of bourgeoisie class, the point herein is that man survival instinct led to inventiveness and modernization; two factors that are the hallmark of businessperson. For the growth of any economy, entrepreneurship stands as a major factor. Enterprise increments the number of existing markets and the competition, profiting both buyers and makers which benefits both customers and makers (Cottrell, 2007). New ventures also increase youth