Social entrepreneurship and future employment in Nigeria

Bibliographic Data

ID4388830
AuthorsRomanus Osabohien (0000-0002-9483-1395, Department of Economics and Development Studies Covenant University, Ota, Nigeria Honorary Research Fellow, ILMA University Karachi Pakistan, corresponding author), Haoma Worgwu (Department of Economics and Development Studies Covenant University Ota Nigeria), Oluwasogo Adediran (0000-0002-8598-8630, Department of Economics and Development Studies Covenant University Ota Nigeria), Jahangeer Ahmed Soomro (0000-0003-3168-3265, Department of Business Administration ILMA University Karachi Pakistan)
Year2023
Volume73
Issue250
Pages927-937
Publication date2023-12-01
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenueInternational Social Science Journal (JOURNAL)
Journal identifiersISSN: 0020-8701 • E-ISSN: 1468-2451
PublisherWiley (PUBLISHER • GB)
DOI10.1111/issj.12360
OpenAlexW4286001341
LanguageEN
Citations received1
References cited22

BackgroundTo cater for the growing global population, the future of employment has been policy discourse. This is mainly because, as the population increases, the demand for employment increases. The danger of a looming crisis may be inevitable if considerable employment opportunities are not created to match population growth. In order to curtail uncertainty in the labour market and secure future employment, increased emphasise is laid on entrepreneurship - the skills to match new ideas to market and societal needs.Aim and DataThis study examines the extent of social entrepreneurship and its impact on future employment in Nigeria by testing the hypothesis stated in a null from as "social entrepreneurship has no significant impact on future employment in Nigeria". The study utilises data sourced from youth entrepreneurship with innovation (YouWiN) (2019) conducted by the World Bank in conjunction with the National Bureau of Statistics (NBS) of Nigeria.MethodThe study engaged descriptive statistics to estimate logit regression and propensity score matching (PSM) to achieve its objective.ResultThe descriptive statistics show that only 3.15 per cent of entrepreneurship in Nigeria is a social enterprise. In addition, the mean age of business owners is about 31 years, with 83.14 per cent being male. The result from the logit regression shows that ICT utilisation, access to loans, level of education, and gender of business owners are other significant and positive determinants of future employment. The result from the PSM shows that social entrepreneurship is a significant and positive driver of future employment. It shows that social entrepreneurship will contribute not less than 21 per cent to employment in Nigeria in the next five years.ConclusionFrom the analysis, it was revealed that only 3.15 per cent of Nigerian enterprises are social enterprises, which is a possible reason for their little current contribution to present and future employment. More involvement in this sector is capable of improving future employment. In addition, to attain a boost in future employment creation in Nigeria, there has to be a significant contribution in this sector by the youth. In addition, access to ICT by business owners should be enhanced to improve business performance towards contributing to future employment. The government should adopt measures to aid business owners in securing loans to finance business activities and improve their performance

Business · Demographic economics · Descriptive statistics · Economic growth · Economics · Entrepreneurship · Null hypothesis · Population · Self-employment · Social entrepreneurship · Sociology · Statistics · Entrepreneurship Studies and Influences · Finance · Firm Innovation and Growth · Labor market dynamics and wage inequality