SOCIAL ENTEPRENEURSHIP AND THE SUSTAINABILITY OF SMALL AND MEDIUM SCALE ENTERPRISES (SMEs) IN LAGOS STATE

Abstract

This study examined the relationship between Social entrepreneurship and the sustainability
of small and medium scale enterprises (SMEs) in Lagos state. Specifically, the study
investigated the nature of the relationship that exists between social innovation and
financial sustainability of small and medium scale enterprises (SMEs) in Lagos state. The
research design for this study is a quantitative research approach. Purposive sampling
technique was used to select the participants for this study. The sample size was 20
entrepreneurs who are engaged in social entrepreneurship activities within Lagos State.
The selection criteria were based on their involvement in social innovation and their
willingness to participate in the study. Primary data was collected through a structured
questionnaire. The questionnaire consisted closed-ended questions that measures the level
of social innovation and financial sustainability of SMEs. The collected data was analyzed
using descriptive and inferential statistical techniques. Descriptive statistics such as
frequencies, means, and standard deviations was used to summarize and present the data.
Inferential statistics such as correlation analysis and regression analysis was conducted to
determine the nature of the relationship between social entrepreneurship and the
sustainability of SMEs in Lagos State. The study therefore found out that there is significant
and positives relationship between Social entrepreneurship and the sustainability of small
and medium scale enterprises (SMEs) in Lagos state. Based on the findings the study
recommends that Entrepreneurs should engage in more of social activities rather than see
entrepreneurship as profit making venture alone.