Study of Social Capital and Business Performance of Micro Women Entrepreneurs in Lagos State Nigeria: Implications for Sustainable Development

Purpose: The purpose of this study is to assess the effect of social capital on the business performance of micro women entrepreneurs and contribution to Sustainable Development Goals (SDGs) using selected micro women entrepreneurs in a Local Government in Nigeria. Design/Methodology/Approach: The study adopted a survey research design. Taro Yamane method of determining sample size was employed to select a sample of sixty (61) respondents from a population size of seventy-two (72). The study population size 72 of hair dressers were from the database of the Association of hair dressers in Ijanikin, Ojo Local Government Area of Lagos State. The study used structured questionnaire as a research instrument. Also, the reliability test using Cronbach’s Alpha was conducted and the coefficient (0.872) which indicated that the data collected was reliable. The data were analysed using descriptive statistics tools analysis of variance (ANOVA). Ordinary least squares regression technique was used in order to estimate the models. Findings: The finding of hypothesis one indicated that social capital affected business performance of micro women entrepreneurs. Also, the result of hypothesis two showed that social capital had significant effect on business sustainability of micro women entrepreneurs. The result of hypothesis three pointed out that social capital affected business trust among micro women entrepreneurs. Iimplications/Research Limitations: Economists and geographers have always accepted that economic growth is regional, and that it is driven by and spreading from specific regions, cities, or even neighborhoods. This study was limited to a local government. Broader studies should include states in the federation to have broader understanding of the challenge of integrating resources faced by micro women entrepreneurs through social capital. Practical implication of the study: The result derived from the study will have a broad impact on all the relevant entrepreneurs, stakeholders, and the government regarding the design of entrepreneurship programs that can enhance the development of viable business ideas at the rural level. More so, the findings from this study will enhance the state economic and development planning aimed at achieving SDGs. The results from the study will be of benefit to entrepreneurs at all levels, in regards to raising funds indirectly through social networking and trust which in turn will improve their knowledge and improve their productivity. The study will broaden the knowledge of researchers and academics on the impact of social capital on business performance of micro-women entrepreneur. Originality and value: Many researchers have carried out studies on how to raise capital for small businesses in Nigeria. However, there has been scanty literature on the knowledge and use of social capital towards enhancing the business performance of micro women entrepreneurs and its contribution towards achieving sustainable development goals (SDGs): poverty reduction, zero hunger, gender equality. This study has provided avenues for sourcing capital based on the outcome of its theoretical and empirical research on how these women can look inward, build trust, and improve their knowledge in funding their businesses.