FEMALE ENTREPRENEURS AND SMALL AND MEDIUM SCALE ENTERPRISES PERFORMANCE IN OSHODI: EMPIRICAL EVIDENCE OF OSHODI- ISOLO, LAGOS STATE, NIGERIA

Abstract

Traditionally, entrepreneurship is assumed to be a male-dominated area; the participation of women in this arena has been increasing steadily with the support of the transformation into a knowledge economy. Every day entrepreneurs generate economic growth, create new jobs, form new businesses, increase exports, reduce imports, and foster creativity and innovation. This study investigated female entrepreneurs and small and medium scale enterprises performance in Oshodi – Isolo, Lagos State, Nigeria. The specific objective is to examine the effect competency of female entrepreneurs on small and medium scale enterprises productivity; determine impact of female entrepreneurs on small and medium scale enterprises profitability; identify problems affecting female entrepreneurs on employment creation. In attaining the highlighted objectives, a well-structured questionnaire was administered for information and data collection. A simple random sampling technique was used for the selection of the respondents from the study areas. Total of 120 respondents were selected across the study area. The analysis of data was done using descriptive tools basically to show the distribution of socio-economic characteristics of the respondents, and inferential to estimate influence of female entrepreneurs and small and medium scale enterprises performance. Regression and Correlation Models and Chi Square Test were employed. This study findings based on test of the three (3) hypotheses in the study, show that there is no significant relationship between competency of female entrepreneurs and small and medium scale enterprises productivity (R2=0.128, F cal.= 13.944, P<0.05 at 0.000 significant level); there is no significant relationship between female entrepreneurs and small and medium scale enterprises profitability (R2=0.132, F cal.= 14.460, P<0.05 at 0.000 significant level); There is no significant relationship between problems affecting female entrepreneurs and employment creation (R2=0.187, F cal.= 21.826, P<0.05 at 0.000 significant level). In conclusion, the study reflected that each of these independent variables play a significant role on small and medium scale enterprises performance in a positive way. Based on these findings, the study recommends that following recommendations; the government and all stakeholders should establish women’s university to enable girl child to get education. Also, civic education should be done on importance of girl education; the government and policy makers should enforce gender equality in terms of property ownership in order to achieve the set millennium development goals; Women entrepreneurs need be accepted and supported through social networking so that capacity building is made available in the areas of entrepreneurship; Finally, married women entrepreneurs should be given support by their spouse in terms of actual engagement and involvement in running business.