Effect of Street Vending on Small and Medium Enterprises Performance
DOI:
https://doi.org/10.22219/agriecobis.v5i02.18578Keywords:
Street Trading, Street Entrepreneurship, Transformative Measures, Market Shares, Small and Medium EnterprisesAbstract
Despite the tough circumstances and competitiveness of shops with permanent structures, it is acknowledged that street enterprise could play a vital role in alleviating poverty across the globe. Formal organizations recognize this possibility and are strategically incorporating informal organizations into their selling operations. The broad objective of this study was to examine the effect of street trade on small and medium enterprises performance with a specific focus on the operators in Ilorin metropolis. Therefore, the study’s specific objectives were to: determine the relationship between street entrepreneurship transformative measures and market share of SMEs and evaluate the effect of transformative measures on the transformation of street entrepreneurship into SMEs. Since the study population was large and unknown, Cochran sample size formula was used to determining the sample size of 385. A questionnaire was designed using structured questions to obtain primary data from the respondents in Ilorin metropolis, Kwara State. A total of three hundred and eighty-five (385) copies of the questionnaire were administered, out of which three hundred and sixty-eight (368) copies were properly filled and returned. The formulated hypotheses were tested using multiple regression analysis and correlation with the aid of SPSS version 21. The findings of the study revealed that; the strong positive relationship between street entrepreneurship transformative measures with socio-cultural factor as the highest correlation coefficient of .946, multiple regression analysis established that transformative measures have an effect on the transformation of street entrepreneurship with an R2 value of .987. Hence, the study concluded that all transformative measures of street entrepreneurship have a significant effect on market share and that transformative measures have a significant positive effect on the transformation of street entrepreneurship into SMEs. It was recommended that street entrepreneurs should not underestimate the potential of relationship marketing, which may increase a company’s financial performance. Moreover, street entrepreneurial ventures should concentrate on changing their enterprises into SMEs by gaining a deeper understanding, learning skills, and developing a working knowledge of all aspects that may impact their operations and thwart their transformative aims.
Downloads
References
Afolayan AA and Abdulahi L (2013) Trans-border Studies: The Motivation and Integration of Immigrations in the Nigeria-Niger Border Area/Trans-border Movement and Trading: A Case Study of a Borderland in Southwestern Nigeria. IFRA-Nigeria (E-edition). Available at: https://books.openedition.org/ ifra/973? lang=en (accessed 12 April 2019).
Baumann, F. A., & Kaiser, J. (2012). Interregional study vocational education and training (VET) in the informal sector. RIFA - Réseau Interrégional pour l'Adaptation de la Formation, Bfz gGmbH International Division. Retrieved from www.rifaeu.org/mediadb/9392/20308/EtudeComparativeInformel_eng.pdf
Bhowmik, S. K. (2005). Street vendors in Asia: A review. Economic and Political Weekly, 40(22), 2256-2264.
Bosiakoh TA (2019) Nigerian immigrants as ‘liminars’ in Ghana, West Africa: Narratives on mobility, immobility and borderlands. Journal of Asian and African Studies 54(4): 554–568.
Bridge, S., K. O'Neill, and S. Cromie, 2003. Understanding enterprise, entrepreneurship and small business, 2nd edition, MacMillan, London
Campbell EK (2003) Attitudes of Botswana citizens toward immigrants: Signs of xenophobia? International Migration 41(4): 71–109. Carling J (2002) Migration in the age of involuntary immobility: Theoretical reflections and Cape Verdean experiences. Journal of Ethnic and Migration Studies 28(1), 5–42.
David AM (2017) Back to square one: Socioeconomic integration of deported migrants. International Migration Review 51(1): 127–154.
Dembek, K., N. Sivasubramaniam, and D.A. Chmielewski, 2019. A Systematic Review of the Bottom/Base of the Pyramid Literature: Cumulative Evidence and Future Directions, Journal of Business Ethics, 1-18.
Ekpenyong S, Nkereuwuem SA (2011). Street Trading and Child Labour in Yenogoa. Int. J. Sci. Res. in Educ. 4(1): 36-46.
ILO. (2002). Women and men in the informal economy: A statistical picture. [Report]. Geneva, Switzerland: International Labour Office. Retrieved from http://www.ilo.org/wcmsp5/groups/public/---dgreports/--stat/documents/publication/wcms_234413.pdf.
ILO. (2009). The informal economy in Africa. Promoting transition to formality: Challenges and strategies. [Report]. Geneva, Switzerland: International Labour Office. http://www.ilo.org/emppolicy/pubs/WCMS_127814/lang--en/index.htm.
ILO. (2015). Small and medium enterprises and decent and productive employment creation. Proceedings from ’15: The 10th Session International Labor Conference. Geneva, Switzerland: International Labour Office. http://www.ilo.org/ilc/ILCSessions/104/reports/reports-to-the http://www.ilo.org/emppolicy/pubs/WCMS_127814/lang--en/index.htm.
ILO. (2020). Women and men in the informal economy: A statistical picture. [Report]. Geneva, Switzerland: International Labour Office. http://www.ilo.org/wcmsp5/groups/public/---dgreports/--stat/documents/publication/wcms_234413.pdf.
Ndawana E (2018) Sacrificing urban governance at the altar of political expediency: Illegal Street vending in Harare. African Security Review 27(3–4): 253–277.
Nwajiuba C (2005) International migration and livelihoods in southeast Nigeria. Global Migration Perspectives, No. 50. Geneva: Global Commission on International Migration. Available at: https:// www.iom.int/jahia/webdav/site/myjahiasite/shared/shared/mainsite/policy_and_research/gcim/gmp/ gmp50.pdf
Ogawa S (2006) Earning among friends: Business practices and creed among petty traders in Tanzania. African Studies Quarterly 9(1–2): 25–38.
Oyeniyi BA (2013) Internal Migration in Nigeria: A Positive Contribution to Human Development. Research Report ACPOBS/2013/PUB01. African, Caribbean and Pacific (ACP) Observatory on Migration, Brussels.
Ruben R, Van Houte M and Davids T (2009) What determines the embeddedness of forced-return migrants? Rethinking the role of pre-and post-return assistance. International Migration Review 43(4): 908–937.
Si, S., D. Ahlstrom, J. Wei, and J. Cullen, 2019. Business, entrepreneurship and innovation toward poverty reduction, Entrepreneurship and Regional Development
Viswanathan. M., 2016. Bottom-Up Enterprise: Insights from Subsistence Marketplaces,
Williams AM and Baláž V (2002) International petty trading: Changing practices in trans– carpathian Ukraine. International Journal of Urban and Regional Research 26(2): 323–342.
World Bank. 2018. Poverty and shared prosperity 2018: Piecing together the poverty puzzle, Washington D.C.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2022 Agriecobis : Journal of Agricultural Socioeconomics and Business
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
Authors who publish with Agriecobis : Journal of Agricultural Socioeconomics and Business agree to the following terms:
- For all articles published in Agriecobis : Journal of Agricultural Socioeconomics and Business, copyright is retained by the authors. Authors give permission to the publisher to announce the work with conditions. When the manuscript is accepted for publication, the authors agree to automatic transfer of the publishing right to the publisher.
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution-ShareAlike 4.0 International License that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this journal.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published wor (See The Effect of Open Access).
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
