Entrepreneurial Activities of SMEs: A Pathway to the Achievement of Sustainable Development Goal One (Poverty Alleviation) in Nigeria

Abstract

The Sustainable Development Goals (SDGs) are the framework for achieving a better and more sustainable future for all. They address global challenges such as poverty, inequality, climate change, environmental degradation, peace, and justice. Studies show that small and medium enterprises (SMEs) account for many private sector businesses and economic activities in developed and less developed countries. In addition, SMEs' expanding role globally has been identified; hence, they have the potential to contribute to the achievement of SDGs. The study examines how SMEs' entrepreneurial activities can assist in achieving SDG 1. The research design for the study is a survey. Three research questions were raised to guide the study, and 2 hypotheses were tested. The sample for the survey comprised 133 entrepreneurs in Lagos and Ogun State, who are manufacturers, service providers and artisans. The data for the study were collected through a structured questionnaire titled "Entrepreneurial Activities of Small and Medium Scale Enterprises: A Pathway to Achievement of Sustainable Development Goal (SDG) One (Poverty Alleviation)." The instrument had a Cronbach's Alpha coefficient of 0.79. The data collected from the study were analysed using descriptive and inferential statistical tools, including frequency and percentage analyses, ANOVA, and Pearson product-moment correlation. The result of the study revealed no significant difference in the personal development capacity and sustainable efforts of SMEs due to enterprise type. At the same time, there was a significant relationship between the personal development capacity/sustainable efforts of SMEs and poverty alleviation. The study recommends enhanced capacity-building programs for entrepreneurs and increasing both government and private support for sustainable business operations.