Business Climate Factors Affecting Economic Growth of Small Scale Construpreneurs in Nigeria

Abstract

Small scale businesses are at the heart of achieving sustainable economic growth in most nations. However, the peculiar environmental challenges faced by this sector has not taken forefront in order to increase their committed participation. Consequently, the study examined the business climate factors affecting economic growth of small scale construpreneurs (SSCs). The study engaged a survey research technique of 80 construpreneurs using a quota-purposive sampling method in Lagos and Ogun State; major economic hubs in Nigeria, through a questionnaire instrument. The data was analyzed using SPSS through principal factor analysis to elicit the crucial business climate factors affecting economic growth of SSCs. The result revealed three main categories of business climate factors which are Finance, Job Availability and Weak Policies as major business climate factors affecting the economic growth of small scale construpreneurs. The study made strategic recommendations for impactful growth of small scale construction entrepreneurs.