Abstract
Effect of Street Entrepreneurship Transformation on Small and Medium Enterprises Performance
Highlights
Street entrepreneurship is a centuries-old phenomenon that predates the development of the city
The major conclusions are as follows: All Transformative measures of street entrepreneurship have a significant effect on the profitability of Small and medium-sized businesses (SMEs) in Ilorin metropolis except the economic factors
This implies that to actualise profitability through improvement in transformative measures, economic conditions must be favourable for businesses operating in the study area
Summary
Street entrepreneurship is a centuries-old phenomenon that predates the development of the city. Street entrepreneurship has flourished as a profession (Bromley, 2000) Travelling entrepreneurs marketed their products in communities by walking from household to home during the ancient and mediaeval periods. South Korea used this strategy, creating systems that ensure street vendors are identified using method leads, updating street hawking and rendering it a formally enforceable sales mechanism This demonstrated to be a watershed moment in South Korea’s development, and it might be for Nigeria if embraced. Because of the vagueness of laws and regulatory organisations’ operations, street vendors’ actions in emerging countries like Nigeria appear to be mainly beyond the official restrictions Street vendors market their products along significant thoroughfares within municipalities, and they spend a variety of fees to both government agents and unofficial tax inspectors (Uchenna & Johanna, 2014). The study examined the effect of street entrepreneurship transformation on SMEs’ performance, explicitly emphasizing the operators in Ilorin metropolis
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