ENTREPRENEURSHIP AS A TOOL FOR SUSTAINABLE EMPLOYMENT. A STUDY OF TEJUOSO MARKET, YABA, LAGOS STATE

TOPIC IS SUITABLE FOR:

1- Department of Business Administration

2- Department of Entrepreneurship

3- Department of Economics

4- Department of Business Education

TOPIC: ENTREPRENEURSHIP AS A TOOL FOR SUSTAINABLE EMPLOYMENT. A STUDY OF TEJUOSO MARKET, YABA, LAGOS STATE

TABLE OF CONTENT
Abstract

CHAPTER ONE: INTRODUCTION

1.1 Background of the Study

1.2 Statement of the Problem

1.3 Objective of the Study

1.4 Research Questions

1.5 Research Hypotheses

1.6 Significance of the Study

1.7 Scope of the Study

1.8 Operational  Definition of Terms

CHAPTER TWO: LITERATURE REVIEW

2.1 Conceptual Framework

2.2Theoretical Framework

2.3Empirical Review

2.4 Summary of Literature Review

CHAPTER THREE: RESEARCH METHODOLOGY

3.1 Introduction

3.2 Research Design

3.3 Population of the Study

3.4 Sample Size

3.5 Sample Technique

3.6 Instrument for Data Collection

3.7 Validity of the Study

3.8 Reliability of the Study

3.9  Method for Data Collection

3.10 Method of  Data Analysis

CHAPTER FOUR:  DATA PRESENTATION AND ANALYSIS

4.1 Introduction

4.2 Data Presentation

4.3 Socio-demographic characteristics of respondents

4.4 Analysis Research Question

4.5 Test Of Hypotheses

4.6 Discussion Of Findings:

CHAPTER FIVE: SUMMARY, RECOMMENDATIONS AND CONCLUSIONS

5.1 Introduction

5.2 Synopsis

5.3 Summary of findings

5.4 Conclusion

5.5 Recommendations

APPENDIX                                                                                                         

REFERENCES

ABSTRACT

This study examined entrepreneurship as a tool for sustainable employment, using Tejuosho Market, Yaba, Lagos State, as a case study. The study specifically assessed the effect of entrepreneurship on sustainable employment and examined the influence of economic, social and cultural, political, technological, and environmental factors on entrepreneurship for sustainable employment. A descriptive research design was adopted for the study. The target population comprised 6,000 entrepreneurs, vendors, service providers, and other market workers in Tejuosho Market. A sample size of 375 respondents was determined using the Taro Yamane (1967) formula at a 5% margin of error. The study adopted stratified random sampling and convenience sampling techniques for respondent selection. Data were collected through a self-developed, structured questionnaire using a four-point Likert scale and analysed using descriptive statistics and regression analysis. The findings revealed that economic factors had a significant positive influence on entrepreneurship for sustainable employment (R = 0.781, R² = 0.610, F = 328.14, p < 0.05). Technological factors also demonstrated a significant positive relationship (R = 0.731, R² = 0.534, p < 0.05), while environmental factors showed significant positive effects, with reported R² values of 0.468 and 0.661 in two analyses. Social and cultural factors significantly influenced entrepreneurship for sustainable employment (R = 0.649, R² = 0.421, p < 0.05). Similarly, political factors had a significant positive influence (R = 0.520, R² = 0.270, p < 0.05). These findings implies that favourable economic conditions, technological advancement, supportive social and cultural environments, political stability, and conducive environmental conditions are associated with entrepreneurship and sustainable employment. The study recommends that policymakers and relevant stakeholders provide accessible credit facilities, reduce unnecessary business constraints, improve market infrastructure, promote digital skills, and implement supportive policies to strengthen entrepreneurial activities and sustainable job creation at Tejuosho Market.

Keywords: Entrepreneurship, sustainable employment, economic factors, technological factors, political factors.

CHAPTER ONE

INTRODUCTION (Preview)

1.1 Background of the Study

Through the different eras, humanity has been inventive, hence, preserving life, promoting prosperity, and remaining relevant despite the dynamic economic circumstances. Entrepreneurial activity has been a reaction to sociotechnological change, whether in agrarian environments, in industrial and in digital environments. As Dimova and Pela (2023) argue, entrepreneurship does not only lead to civilizational paths, but also evolves along with technological innovations, market forces, and social transformation. As the world economies become increasingly interconnected, policy makers are re-evaluating the traditional labour models so as to limit the increasing unemployment rates. Bachmann et al. (2024) highlight the importance of adaptive, entrepreneurial approaches of long-term economic stability.

Entrepreneurship has become important today based on its ability to create sustainable and dignified employment. According to Adeola and Ogundipe (2021), sustainable work is the employment that is flexible regarding economic and environmental volatility. Entrepreneurs come up with strong businesses which can respond to changes in the market and market demands. Nakara et al. (2023) further state that the entrepreneurship offers options to rigid labour arrangements, especially in developing regions where formal employment opportunities are limited.

The situation in the labour market has a strong impact on the entrepreneurial capacity to create sustainable jobs. Access to finance, inflation and macroeconomic stability are some of the basic elements. Umar et al. (2024) emphasize the need of cheap financial tools to support small-scale businesses. The innovation can be hindered by the existence of restrictive regulation and limited capital in unstable economic environments. Mensah and Adu (2021) note that even innovators cannot expand or increase their workforce without sound economic infrastructures.

Entrepreneurial outcomes are also formed by social and cultural determinants. Participation is affected by social norms, gendered roles, and risk tolerance. According to Dada et al. (2021), it is impossible to do without strong support networks and the cultural validation of entrepreneurship. According to Osho and Olaniyi (2023), inclusive societies promote entrepreneurship and sustainable employment, and exclusionary practices restrain its availability.

Entrepreneurial effectiveness is also determined by political institutions and technological developments. Innovation greatly depends on stable governance and favorable policy frameworks (Nnaji & Ahmed, 2023). At the same time, technological advancement liberalizes markets worldwide, reduces the cost of transactions and encourages inventions. Bachmann et al. (2024) and Mensah and Adu (2021) observe that ventures supported by technology are usually productive and scalable. Environmental concerns are becoming more eminent. Business men will need to relate their activities to sustainability agendas in order to obtain long-term job creation. The study by Dimova and Pela (2023) and Adeola and Ogundipe (2021) reveals that green ventures, such as recycling business and eco-tourism ventures, become reality in terms of ecological benefits and jobs creation.

However, A good example is the Tejuosho Market in Lagos. Being a semi-formal business complex, it demonstrates how entrepreneurship, with its economic, social, and political setting, may provide sustainable employment in the urban areas of Nigeria (Osho & Olaniyi, 2023; Mensah & Adu, 2021). Therefore, this study will investigate entrepreneurship as a tool for sustainable employment. A study of Tejuoso market, Yaba, Lagos State.

1.2 Statement of the Problem

Entrepreneurship as one of the most effective ways of economic development that is considered as an effective reaction to the constant unemployment level is the key to individual empowerment, innovation stimulation, and building of a sustainable economic system. Adeola and Ogundipe (2021) assert that entrepreneurship activity not only promotes the creation of employment but also involves the heterogeneous population groups in productive activities, thus minimizing the reliance on formal labor systems. Nakara et al. (2023) complement this statement by showing the ability of entrepreneurial ventures to act as more desirable alternatives to limited government job programs- especially in the fast-urbanizing areas. In the context of the urban setting of Tejuosho in Yaba, Lagos, the study is framed to investigate the role of entrepreneurship in actively contributing to sustainable employment bearing in mind the macro socio-economic and environmental factors that influence the related outcomes.

Although it is recognized that entrepreneurship has the potential to bring stable employment, there has been a long-standing gap between entrepreneurship and the sustainability of the jobs created in most urban centers in Nigeria. The current state of affairs in the markets like Tejuosho shows that the density of entrepreneurship is high but there is no sign of lasting employment benefits. Most ventures experience the short life span, poor structural integrity or lack of institutional support thus hindering growth trends and hindering job preservation. The empirical evidence given by Mensah and Adu (2021) explains this misalignment by the fact that necessity-driven entrepreneurship, as opposed to opportunity-driven entrepreneurship, manifests itself in most developing nations, which limits the potential of a lasting impact on employment. Umar et al. (2024) also highlight the fact that the lack of strategic policymaking and economic instability makes small businesses more vulnerable and, thus, limits their ability to create sustainable jobs. The final goal is to develop an ecosystem that will allow entrepreneurial activities to blossom, innovate, and develop resilient job opportunities.

Furthermore, a package of structural and contextual conditions, such as economic, social, cultural, political, technological, and environmental, are poorly explored in the research of the role of entrepreneurship in the sustainability of employment. Dada et al. (2021) argue that the existing studies rarely offer location-based in-depth information on the effects of such interdependent variables on entrepreneurial performance. According to Nnaji and Ahmed (2023), most studies have taken too generalized approaches, thus missing out on distinctive urban market limitations, informal trade systems, and socio-cultural demands that define Lagos and other metropolitan settings. Although some studies have been conducted to deal with economic and political challenges, there is still a gap in the realization of how the environmental sustainability and technological integration and entrepreneurship and employment intersect at the grassroots level. This lack of knowledge hinders the stakeholders in the development of strategies that are contextually suitable to the enhancement of the power of entrepreneurship to create lasting and quality employment. Therefore, this study intends to fill these gaps by specifically examining entrepreneurship as a tool for sustainable employment. a study of Tejuoso Market, Yaba, Lagos.

1.3 Objectives of the Study

The primary purpose of this study is to investigate entrepreneurship as a tool for sustainable employment. A study of Tejuoso market, Yaba, Lagos State. Specific aims of this study are:

1.To assess the effect of entrepreneurship on sustainable employment.

2.To assess the effect of economic factors on entrepreneurship for sustainable employment.

3.To assess the effect of social and cultural factors on entrepreneurship for sustainable employment.

4.To assess the effect of political factors on entrepreneurship for sustainable employment.

5.To assess the effect of technological factors on entrepreneurship for sustainable employment.

To assess effect of environmental factors on entrepreneurship for sustainable employment.

OTHER PARTS OF CHAPTER ONE INCLUDE:

1.4 Research Questions

1.5 Research Hypotheses

1.6 Significance of the Study

1.7 Scope of the Study

1.8 Operational  Definition of Terms

CHAPTER TWO

REVIEW OF RELATED LITERATURE (Preview)

This chapter critically examines relevant literature that would assist in explaining the research problem and, furthermore, recognizes the efforts of scholars who had previously contributed immensely to similar research. The chapter intends to deepen the understanding of the study and close the perceived gaps. This chapter, therefore, focuses on the concept of entrepreneurship, the concept of sustainable employment, the relationship between entrepreneurship and sustainable employment, the role of entrepreneurship in employment generation, and the challenges of entrepreneurship in promoting sustainable employment etc. The chapter covers the following subheadings:

2.1 Conceptual Framework

2.2 Theoretical Framework

2.3 Empirical Review

2.4 Summary of Literature Review

CHAPTER THREE

RESEARCH METHODOLOGY (Preview)

Research Design: The study adopted a descriptive research design.

Population of the Study: The target population for this study comprises all entrepreneurs in Tejuoso market, yaba, Lagos State.

Sample Size Determination: The study adopted the Taro Yamane formula to determine a sample size of 375 participants.

Sampling Technique: The study employed stratified random sampling technique and convenience sampling technique to select the individual respondents.

Research Instrument: The study utilized a structured questionnaire as the instrument for data collection.

Methods of Data Analysis: The collected data were analyzed using frequencies, percentages, means, and standard deviations to summarize and present the demographic characteristics of the respondents and their responses. Inferential statistics, particularly linear regression, were used to test the hypothesis.

CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS

MAJOR FINDINGS (Preview)

The analysis results were presented in tables. Based on the results obtained from the analysis, the following findings are made:

1. The findings show that environmental factors significantly predict entrepreneurship for sustainable employment. The model produced a strong correlation (R = 0.684) with an R² value of 0.468, meaning that 46.8% of the variation in entrepreneurship for sustainable employment is explained by environmental factors. The ANOVA was highly significant (F(1,368) = 222.62, p = 0.000 < 0.05). The coefficient of environmental factors (B = 0.745, t = 14.914, p < 0.05) indicates a strong positive effect. Hence, better environmental conditions substantially enhance entrepreneurship, leading to sustainable employment.

2. The study found that economic factors were also found to have a strong positive influence on entrepreneurship. The regression model showed a higher correlation (R = 0.781) with an R² value of 0.610, suggesting that 61.0% of the variance in sustainable employment is explained by economic factors. The ANOVA confirmed significance (F(1,368) = 328.14, p = 0.000). Economic factors had a strong positive coefficient (B = 0.814, t = 18.11, p < 0.05), showing that improved economic conditions significantly enhance entrepreneurship and consequently sustainable employment.

3. The results reveal that social and cultural factors significantly contribute to entrepreneurship for sustainable employment. The correlation was moderate (R = 0.649) with R² = 0.421, meaning 42.1% of variance in sustainable employment is explained by social and cultural factors. The ANOVA was significant (F(1,368) = 209.80, p < 0.05). The positive coefficient (B = 0.615, t = 14.48, p = 0.000) indicates that favorable social and cultural circumstances encourage entrepreneurship, which enhances sustainable employment.

4. The results reveal that political factors also showed a significant influence on entrepreneurship. The model summary produced a moderate correlation (R = 0.520) with an R² value of 0.270, showing that 27.0% of variance in entrepreneurship for sustainable employment is explained by political factors. ANOVA results confirmed statistical significance (F(1,368) = 136.13, p = 0.000). The positive coefficient (B = 0.540, t = 11.667, p = 0.000) suggests that improvements in political stability and governance significantly enhance entrepreneurship that leads to sustainable employment.

5. The results reveal that technological factors were found to be a strong determinant of entrepreneurship. The model showed a high correlation (R = 0.731) with R² = 0.534, meaning that 53.4% of variance in sustainable employment is accounted for by technological factors. ANOVA confirmed significance (F(1,136) = 156.29, p = 0.000). The coefficient of technological factors was strong and positive (B = 0.684, t = 12.499, p = 0.000), suggesting that technological advancements directly enhance entrepreneurial activities that generate sustainable employment.

6. Lastly, the environmental analysis reaffirmed its importance, showing an even stronger relationship. The model revealed a very high correlation (R = 0.813) with R² = 0.661, indicating that 66.1% of variance in entrepreneurship for sustainable employment is explained by environmental factors. ANOVA confirmed the model’s significance (F(1,355) = 690.115, p = 0.000). The coefficient (B = 0.794, t = 26.260, p < 0.05) shows a strong positive effect, implying that improvements in environmental conditions greatly enhance entrepreneurship toward achieving sustainable employment.

CHAPTER FIVE: SUMMARY, RECOMMENDATIONS AND CONCLUSIONS

This chapter covers the following outline:

5.1 Introduction

5.2 Synopsis

5.3 Summary of findings

5.4 Conclusion

5.5 Recommendations

5.6 Suggestions for further studies

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