An Evaluation of Sustainable Business Practices in Nigerian SMEs: A Case Study of Startups in Lagos
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Background of the Study
Sustainable business practices, encompassing economic, social, and environmental dimensions, are increasingly recognized as vital for long-term organizational success. Small and Medium Enterprises (SMEs) in Nigeria, particularly startups, play a significant role in job creation and economic growth. However, the adoption of sustainable practices in this sector remains limited due to resource constraints and lack of awareness.
In Lagos, the entrepreneurial hub of Nigeria, many startups are exploring sustainable practices to gain a competitive advantage and meet the demands of environmentally conscious consumers. Yet, the challenges of scalability, financial limitations, and regulatory compliance hinder widespread adoption (United Nations Development Programme, 2024).
This study evaluates sustainable business practices in Lagos-based startups, assessing their impact on organizational performance and sustainability.
Statement of the Problem
Despite the global emphasis on sustainability, Nigerian SMEs often prioritize short-term financial goals over sustainable practices. This neglect results in environmental degradation, social inequality, and missed opportunities for long-term profitability.
The lack of empirical data on the adoption and impact of sustainable practices among Nigerian startups limits policymakers’ ability to support this transition. This study bridges the gap by analyzing sustainable practices in Lagos startups.
Objectives of the Study
- To evaluate the extent of sustainable business practices in Lagos-based startups.
- To assess the challenges faced by startups in implementing sustainable practices.
- To propose strategies for enhancing sustainability in Nigerian SMEs.
Research Questions
- What is the extent of sustainable business practice adoption among Lagos startups?
- What challenges hinder the implementation of sustainable practices in startups?
- What strategies can promote sustainability in Nigerian SMEs?
Research Hypotheses
- Sustainable business practices are not significantly adopted by Lagos-based startups.
- Challenges faced by startups do not significantly affect the implementation of sustainable practices.
- Strategies for promoting sustainability do not significantly improve organizational performance.
Scope and Limitations of the Study
The study focuses on Lagos-based startups from 2020 to 2025. Limitations include variability in defining sustainability and the limited availability of longitudinal data.
Definitions of Terms
- Sustainable Business Practices: Business strategies that balance economic performance, social equity, and environmental protection.
- Startups: Newly established businesses in their early stages of operation.
- Environmental Sustainability: Responsible interaction with the environment to avoid depletion of resources.
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