Venturing into Small Business in a Developing Economy:

No Thumbnail Available
Owualah, S.I.
Journal Title
Journal ISSN
Volume Title
Giordano Dell-Amore Foundation
This paper investigates how far Nigeria's structural adjustment programs have contributed to the growth of more small businesses as part of a broader inquiry into the motivations of small business founders in Nigeria. It further addresses the related issue of the constraints to small business operations in the country. Evidence produced by the study does not show loss of jobs or strictly speaking, unemployment — one of the consequences of the structural reforms, to be a strong motivational factor. Rather, independence, innovation, financial returns and precautionary motives dominate the reasons for starting a small business. However there is a possibility that the insignificance of the unemployment factor may be related to the constraints to small business ownership identified in this study. Most important among them is capital constraint, both working and fixed capital. Others such as unfavorable economic conditions and government policies, etc are not inconsequential though, cause a lesser concern.
To access the full text of this article, kindly contact the University Librarian- Dr. Olukemi Fadehan via the administrators: Dr. Yetunde Zaid ( or Dr. Christopher Okiki ( of the University of Lagos Library
Economic Reform , Industrial Sector
Owualah,S.I. (1990), Venturing into Small Business in a Developing Economy: Motivations and Constraints.Savings and Development, Vol.14, (4), p.415 - 424.