A CRITICAL EVALUATION OF FACTORS AFFECTING PRODUCTIVITY OF WOMEN ENTREPRENEURS IN DELTA STATE
CHAPTER ONE
INTRODUCTION
1.1 Background Of The Study
Entrepreneurship is increasingly recognized as a key driver of economic growth, productivity, innovation, and employment, as well as a key component of economic dynamism (Baron, 2001). Kpelai (2007), on the other hand, claimed that the role of entrepreneurship and its culture in economic and social development is frequently underestimated. However, it has become increasingly clear over the years that entrepreneurship does contribute to economic development. Regardless, men own the majority of entrepreneurial businesses. This implies that women are underrepresented in business globally, particularly in developing countries. Notably, women’s participation in entrepreneurship is a relatively new phenomenon (Okafor & Chima, 2010). Because men dominated this sector of the economy, little was known about women’s entrepreneurship in the past. However, recent female engagements
In business, micro and small enterprises (MSEs) predominate (Walker & Joyner 200).
Furthermore, Abiona (2011) stated that Nigerian women have been involved in entrepreneurial activities for many decades, but their contributions have gone unnoticed. They have traded goods in their respective communities and surrounding markets. And, more often than not, family survival has relied on a woman’s entrepreneurial ability (Abiona, 2011). Regardless of women’s perseverance in entrepreneurship, a number of factors have hampered their success.
When it comes to establishing new businesses, operating or expanding existing businesses, more than half of all female entrepreneurs in Nigeria frequently face gender-related challenges. Women are disadvantaged because of culture, religion, and tradition, according to Lee and Choo (2011). For For example, many women have difficulty obtaining credit from banks or borrowing through informal networking. Furthermore, even in the same industry, women have been found to generate less sales turnover than men (Khalid & Kamisan, 2012). Furthermore, Claudia (2006) stated that, despite the support and incentive programs for micro businesses in Nigeria, women in small businesses, like their male counterparts, experience business breakdown due to the shortcomings influencing business performance, which are: insufficient financial resources, poor location, insufficient management experience, poor laws and regulations, and the general economic situation, as well as critical factors such as poor infrastructure. Others include a lack of raw materials, difficulties in obtaining financing, a lack of skilled and motivated employees, and a lack of capital. lack of cost-control abilities, and inexpensive imported products dumped on the market. Despite the inherent difficulties associated with the expansion of micro-scale enterprises, women entrepreneurs are increasingly taking ownership of small-scale enterprises, either on their own or in partnership with male entrepreneurs (ILO 2005). This is primarily due to the ease of entry, limited access to other businesses, and a lack of employment opportunities in the formal sector of the economy. Furthermore, given the rise in female entrepreneurship, understanding the social, cultural, and economic factors influencing their success is critical.
1.2 Statement Of The Problem
The “Nigerian” Structural Adjustment Program was implemented in the mid-1980s, with different consequences for men and women. It changed access to certain jobs and types of employment, and it reduced government services through devaluation, job loss, purchasing power loss, and threats to not only livelihood but also life (Mustapha, 2016). As a result, women in Nigeria began to address their own demands and interests, as well as make their own economic decisions, with the goal of reflecting their economic and social importance (Schorling, 2006).
While there is no doubt that women have a significant economic impact, there is still a lack of a solid picture that fully describes that impact. Furthermore, women in business are frequently overlooked in society. all in all (Stevenson and Jarillo, 2003). Women not only have a lower entrepreneurship participation rate than men, but they also prefer to establish and run businesses in different industries than men (Banmeke 2003; Eze, Ibekwe, and Okorie, 2009; & White, 1997). The decline in female entrepreneurship interest and engagement, according to Ram (2009), is due to the numerous barriers they face in the sector. Cultural elements, economic concerns, environmental concerns, and so on are among the difficulties. As a result, the goal of this study is to uncover the barriers that women entrepreneurs in Nigeria face.
1.3 Objective Of The Study
The primary goal of this research is to identify the factors influencing the productivity of female entrepreneurs in Delta State. Specifically, the research will
1. Examine the impact of female entrepreneurs on Nigeria’s economic growth.
2. Determine the economic and cultural factors influencing the performance of female entrepreneurs.
3. Determine the business administration factors that influence the performance of female entrepreneurs.
1.4 Research Question
The following questions will guide this research:
1) Do female entrepreneurs contribute to Nigeria’s economic growth?
2) What economic and cultural factors influence the performance of female entrepreneurs?
3) What factors in business administration influence the performance of female entrepreneurs?
1.5 Significance Of The Study
The study will assist in determining whether the economic activities of female entrepreneurs truly contribute to the growth of the Nigerian economy. Much more importantly, the study will inform relevant government officials about the controllable challenges impeding the effectiveness of women entrepreneurs in the country and the need to provide them with the necessary support. Additionally, it will be used as a literature review by subsequent researchers. This means that other students who decide to conduct research in this area will be able to use this study as available literature for critical review. Invariably, the study’s findings add significantly to the body of academic knowledge about the factors influencing the productivity of women entrepreneurs in Delta State.
1.6 Scope Of The Study
The overall goal of this research is to assess the factors influencing the productivity of female entrepreneurs. Furthermore, the study will examine the impact of women entrepreneurs on the growth of the Nigerian economy, ascertain the economic and cultural factors influencing women entrepreneurs’ performance, and identify business administration factors influencing women entrepreneurs’ performance. The research will focus on female entrepreneurs in Delta State, Nigeria.
1.7. Limitations Of The Study
The researcher encountered some constraints while conducting this study, including time constraints, financial constraints, language barriers, and the respondents’ attitudes.
There was also the issue of researcher bias. In this case, the researcher had some biases that may have been reflected in the way the data was collected, the type of people interviewed or sampled, and how the data gathered was subsequently interpreted. The possibility of all of this influencing the findings and conclusions cannot be overstated.
Furthermore, because the findings of this study are limited to the sample population in the study area, they may not be applicable to other schools, local governments, states, or countries around the world.
1.8 Definition Of Terms
Entrepreneurship is the process of creating or extracting value. According to this definition, entrepreneurship is defined as change, generally involving risk beyond what is normally encountered when starting a business, and may include values other than monetary ones.
Entrepreneur: A person who starts a business or businesses and takes financial risks in the hope of making a profit.
Productivity is a measure of the efficiency with which goods or services are produced.