IMPACTS OF SMALL BUSINESS ENTERPRISES ON EMPLOYMENT CREATION IN LAGOS STATE (A CASESTUDY OF SELECTED SBES IN LAGOS STATE)

ABSTRACT

The focus of this study is on the Impacts of Small Business Enterprises on Employment Creation in Lagos State. Small Business Enterprises are the vocal discuss and objective of this research, to ascertain if the role SBEs assumed, have played, in terms of employment creation amongst others. The problems hindering the small scale enterprises from achieving their full potentials were also highlighted.

The Survey research method was employed and questionnaires were used to collect the necessary data from respondents across the state.

In other to achieve these objectives, a 5 point Likers Scale was developed and validated to collect information from a sample of 50 respondents. Representing the employees from the selected SBEs, the findings from the result obtained, showed that Small Business Enterprises have made positive impacts on employment creations in Lagos State and the availability of infrastructural provision to Small Business Enterprises, have impacts on employment creation in Lagos State.

It was however recommended that government on the other hand should encourage small business enterprises with the provisions of basic requirements, such as financial supports, business profitable enabled environment and stability in the policy so as to minimize unemployment in Nigeria.                                           

CHAPTER ONE

INTRODUCTION

BACKGROUND OF THE STUDY 

Small Business Enterprise plays a key role in expanding and diversifying industrial production and also contributes to such objectives as employment generation, poverty eradication, improved income distribution and fulfilling basic needs of most developing countries.

Small business enterprises was defined by the Central bank of Nigeria in its guideline that it is any business organization with an annual turnover of less than five hundred thousand naira. (CBN Guide (2009)).

Small Business Enterprise may be seen as a business which is independently owned and managed by an individual or family and which does not dominate its relevant market segment of interest (Griffin and Ebert, 1999). Unemployment is undoubtedly a big challenge to any government, development planner, the private sector and society at large. This is why it is very important to pay particular attention to the creation of employment because according to Tomori (1998), the consequence of unemployment (whether prolonged or short-term), leaves a scar on every individual, family or country that is faced with the problem.