The Influence of Small-Scale Businesses in Employment Generation and Economic Growth in Nigeria: A Case Study of Selected Business in Suburban Lagos

Temitope Oladunni Alao, Oshireku Vincent Onivefu, Christiana Oremeyi Onivefu-Bello and Kofoworola Adiat Raji
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Temitope Oladunni Alao: Department of Financial Analytics, Swansea University, Wales, United Kingdom
Oshireku Vincent Onivefu: Department of Business Development, Sterling Bank Plc, Nigeria
Christiana Oremeyi Onivefu-Bello: Branch Head of Operation, Sterling Bank Plc, Nigeria
Kofoworola Adiat Raji: Internal Control Department, Kuda Microfinance Bank, Lagos, Nigeria

African Journal of Commercial Studies, 2025, vol. 6, issue 1

Abstract: This research examines the roles of small-scale business (SSBs) in employment generation and financial growth, with a focus on businesses within the Ikorodu Local Government Area. The study employs a systematic methodology to address the research objectives, including hypotheses testing, population and sample selection, data collection, and analysis. A sample of fifty (50) respondents, drawn using simple random and stratified sampling techniques, provides a fair representation of the study population. Primary data were collected through questionnaires, ensuring cost-effective, time-efficient, and accurate data acquisition. The collected data were analyzed using frequency distribution tables and the chi-square test to assess whether observed proportions align with expected values. The findings reveal insights into the demographic and business characteristics of the sample, including gender distribution, age range, business duration, and educational qualifications of the respondents. The chi-square analysis tested two hypotheses: the significant role of SSBs in employment generation and financial growth. Results indicate that small-scale business significantly contribute to employment generation and the financial growth of the economy. This research offers valuable insights into the potential of small-scale businesses as drivers of economic development, with implications for policy and practice in promoting sustainable entrepreneurship.

Keywords: Small-scale businesses (SSBs); Employment generation; financial growth; Economic development; Sustainable entrepreneurship (search for similar items in EconPapers)
JEL-codes: J21 L26 O15 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:cwk:ajocsk:2025-22

DOI: 10.59413/ajocs/v6.i.1.5

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