ENTREPRENEURIAL MICROBUSINESSES AND EMPLOYMENT GENERATION IN ADO-EKITI, EKITI STATE
Keywords:
Self-employment, youth unemployment, women entrepreneurship, entrepreneurial competence, economic developmentAbstract
Entrepreneurship plays a crucial role in promoting global economic growth and development, particularly in developing economies where formal employment opportunities are limited. This study examined the role of entrepreneurial microbusiness activities in promoting employment in Ado-Ekiti Metropolis, Ekiti State, Nigeria. The study specifically assessed the contribution of microbusiness enterprises to youth and women’s employment, examined the relationship between entrepreneurial skills and employment sustainability, evaluated the influence of access to microfinance on business expansion and employment creation, and identified the major challenges faced by microbusiness operators. A descriptive survey research design was adopted. A sample of 280 respondents was selected from a population of 928 using Yamane’s formula. Data were collected from primary and secondary sources and analysed using descriptive statistics, Pearson correlation, and multiple regression analysis. The findings showed that 71.0% of respondents reported creating employment opportunities for young people, while 47.3% indicated that their businesses supported women’s employment. The study found a strong positive relationship between microbusiness growth and employment sustainability (r = .984, p < .01). Furthermore, 69.8% agreed that improved access to microfinance would enhance business expansion and employment generation. The study concludes that the Ekiti State Government, in conjunction with financial institutions, should explore innovative strategies to lower interest rates, thereby improving access to capital for microbusiness growth and job creation among others.
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