The Nexus Between Informal Entrepreneurship And Sustainable Development
The Nexus Between Informal Entrepreneurship And Sustainable Development

Summary/Abstract: Informal entrepreneurship is a vital aspect of economic activity in Nigeria, which has become very popular due to its capacity to generate income and employment thus reducing poverty and enhancing skills acquisition. This study seeks to contribute to the existing literature on how informal entrepreneurship in Nigeria can be made more sustainable. This study adopted a survey research design to investigate the relationship between informal entrepreneurship and sustainable development in Nigeria with attention to selected small businesses located in Lagos state. 327 respondents were randomly selected. Data collection was through a self-made questionnaire. Data collected were analyzed using frequency count and simple percentages while Regression analysis was used to test for formulated hypotheses at a 5% level of significance. The result of the study indicated a significant positive relationship between informal entrepreneurship and sustainable development in Nigeria. The result also identified some of the challenges confronting the conversion of informal entrepreneurship to formal entrepreneurship to make it even more functional. Based on the outcome of the study, the study recommended that the government intervention through granting loans to industrious entrepreneurs still operating in the informal setting in exchange for them to formalize their enterprises for the benefit of both the entrepreneur and the government. Government should provide a training ground for youth entrepreneurs that will motivate them to think bigger and get better such that, they will see formalizing their enterprise as a step for development.

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