An evaluation of the influence of informal sector businesses on economic growth in Nsukka Local Government Area, Enugu State
- Project Research
- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
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- NGN 5000
Background of the Study:
Informal sector businesses have become pivotal in stimulating economic growth, particularly in regions where formal employment opportunities are scarce. In Nsukka, these enterprises contribute significantly to local economies by creating jobs, fostering entrepreneurship, and generating income (Nwankwo, 2023). Despite operating outside the formal regulatory framework, the informal sector often demonstrates resilience in the face of economic challenges. However, issues such as limited access to capital, inadequate infrastructure, and regulatory ambiguities can impede growth (Okoro, 2024). Contemporary studies reveal that formal recognition and support of informal businesses could lead to improved economic outcomes and sustainable development (Eze, 2025). The study seeks to evaluate the influence of informal businesses on Nsukka’s economic landscape by examining the factors that drive their success and the challenges they encounter, ultimately providing recommendations for enhanced integration into the broader economy (Chukwu, 2023).
Statement of the Problem:
Although informal sector businesses are integral to Nsukka’s economic growth, they face numerous challenges including regulatory obstacles, limited access to finance, and infrastructural deficits. These issues hamper their potential to contribute fully to economic development, necessitating a thorough investigation of their operational constraints and growth prospects (Ifeanyi, 2024).
Objectives of the Study:
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To analyze the contribution of informal businesses to economic growth.
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To identify the key challenges faced by these enterprises.
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To propose policy measures for integrating the informal sector into the formal economy.
Research Questions: -
What is the contribution of informal businesses to Nsukka’s economy?
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What challenges hinder the growth of informal enterprises?
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What policies can better support informal sector growth?
Research Hypotheses: -
Informal businesses have a positive impact on local economic growth.
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Regulatory challenges significantly limit the growth of informal enterprises.
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Policy interventions can enhance the integration of informal businesses.
Significance of the Study:
This study will provide vital insights into the role of informal sector businesses in economic development. Its findings will assist policymakers in designing interventions that support these enterprises, thereby boosting local economic resilience and growth (Okafor, 2023).
Scope and Limitations of the Study:
Limited to the topic only.
Definitions of Terms:
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Informal Sector: Economic activities that are not regulated by the state.
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Economic Growth: An increase in the production of goods and services in an economy.
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Entrepreneurship: The process of designing, launching, and running a new business.
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