A comparative study of business sustainability strategies in rural vs. urban enterprises: A case study of SMEs in Kwara State
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Background of the Study
Business sustainability refers to the ability of a company to operate in a manner that is economically, socially, and environmentally responsible, ensuring long-term success without compromising the ability of future generations to meet their needs (Bocken et al., 2023). Small and medium-sized enterprises (SMEs) are pivotal to the economic development of both rural and urban areas, contributing to job creation, innovation, and the provision of goods and services. However, the sustainability strategies adopted by SMEs can vary significantly between rural and urban settings due to differences in resources, market access, and local challenges (Jiang et al., 2024).
In Kwara State, SMEs operate in both rural and urban environments, each facing unique challenges. Rural enterprises often struggle with limited access to infrastructure, technology, and skilled labor, which can hinder the adoption of sustainable practices (Oluwaseun & Akinlabi, 2023). On the other hand, urban enterprises benefit from better access to markets, capital, and technology, which can facilitate the implementation of more advanced sustainability strategies. However, these businesses may still face challenges such as high competition and environmental regulations.
Previous research has explored the factors influencing business sustainability strategies in various contexts, but few studies have compared how rural and urban SMEs approach sustainability in Nigeria (Aluko et al., 2023). This study seeks to examine the sustainability strategies employed by SMEs in rural and urban areas of Kwara State, highlighting the key differences and similarities in their approaches, and offering insights into the challenges and opportunities they face.
Statement of the Problem
While SMEs are essential to the economic growth of both rural and urban areas in Kwara State, there is limited understanding of how sustainability strategies are implemented differently in these two settings. Rural SMEs face unique challenges such as lack of infrastructure and lower access to resources, while urban SMEs may be hindered by intense competition and high operational costs. This study will investigate the differences in sustainability strategies between rural and urban SMEs in Kwara State, with a focus on identifying the factors that influence these strategies and their effectiveness.
Objectives of the Study
1. To compare the sustainability strategies adopted by rural and urban SMEs in Kwara State.
2. To assess the challenges faced by rural and urban SMEs in implementing sustainability strategies.
3. To examine the impact of sustainability strategies on the performance and longevity of rural and urban SMEs in Kwara State.
Research Questions
1. What are the key differences in sustainability strategies between rural and urban SMEs in Kwara State?
2. What challenges do rural and urban SMEs face in implementing sustainability strategies?
3. How do sustainability strategies influence the performance and longevity of SMEs in rural and urban areas of Kwara State?
Research Hypotheses
1. There is a significant difference in the sustainability strategies adopted by rural and urban SMEs in Kwara State.
2. Rural SMEs face more significant challenges in implementing sustainability strategies compared to urban SMEs in Kwara State.
3. Sustainability strategies positively influence the performance and longevity of SMEs in both rural and urban areas of Kwara State.
Scope and Limitations of the Study
This study will focus on SMEs operating in rural and urban areas of Kwara State. It will examine the sustainability strategies adopted by these SMEs, the challenges they face, and the impact on their performance. Limitations include potential difficulties in accessing SMEs in remote rural areas and the subjective nature of assessing sustainability strategies.
Definitions of Terms
• Business Sustainability: The ability of a business to operate in a manner that meets its current needs without compromising the ability of future generations to meet their needs, encompassing economic, social, and environmental dimensions (Bocken et al., 2023).
• Small and Medium-sized Enterprises (SMEs): Businesses with a limited scale of operations, typically characterized by a small number of employees and lower revenue generation compared to large corporations.
• Rural and Urban Enterprises: Businesses operating in rural and urban areas, where rural enterprises are typically located outside of city centers and may face challenges such as limited infrastructure and market access, while urban enterprises benefit from better resources but face intense competition.
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