Abstract

This research assessed the constraints limiting the success of women entrepreneurs in selected local government areas of Lagos State, Nigeria. A sample of 120 women entrepreneurs were selected from three Local Government Areas of Lagos State in a two-stage sampling procedure. The data collected were analyzed using descriptive statistics, constraint analysis, budgetary analysis and multiple regression analysis. The predominant primary occupation was found to be trading 45 with 92.5% of the women in their productive years. The finding also revealed that a vast majority (92.5%) of the women entrepreneurs had formal education above primary level with 43.3% of them spent not less than 10 years in their business, which was presumed to benefit their enterprises. The women entrepreneurs faced certain constraints which affect their businesses, the highest ranked ones include; poor shop location (ranked 1st), lack of long term finance (ranked 2nd) and competition from rivals (ranked 3rd) among others. The women entrepreneurs earned 40 kobo on every 1 naira sale revenue. The multiple regression results revealed that main occupation, business membership strength, initial capital outlay and total variable cost had significant effect on the net income of the women. Policy options from the findings include: Increment in funds invested in the business enterprises of these women entrepreneurs alongside reduction in cost could boost the possible expansion of their enterprises; provision of psychological, moral and financial support from members of the family is needed for entrepreneurial development and Government should provide cheaper sources of credit to the women with little or no collateral to encourage their enterprises growth, self-reliance which are necessary ingredients for nation's development.

Keywords:

Business constraints, entrepreneurs, Lagos, Nigeria, women,

References

Competing interests

The authors have no competing interests.

Open Access Policy

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Copyright

The authors have no competing interests.