Promoting youth entrepreneurship in Lagos, Nigeria - SNHU ...

Majority of the respondents are operating sole-proprietorship type of business and none isoperating partnership. The 2 youth who responded that they operate a public limited company arethose who work for such companies and didn‘t know exactly their roles in this category.3.7.5 Current annual turnover (Naira)# Answer Response %1 200,000-500,000 7 70%2 500,000-1,000,000 0 0%3 1,000,000-2,000,000 1 10%4 below 100,000 2 20%Total 10 100%Figure 17: Current annual turnoverOn this session, we tried to examine the current annual turnover of youth enterprises. 70% of therespondents have an annual turnover between $1,350-3,500. Which is basically on the very lowside? Only 10 % of the respondents have above $3,500 annual turnover and 20% have below $1000.3.7.6 Constraints Faced by Young People to Start Business Enterprises:Figure 18 : Constraints faced by youthThe ranking here were done based on order of priority starting from 1-5. All the respondentsstated that Social/ Cultural attitude towards (youth) entrepreneurship, Government regulations,Education, skills and training and Business support (& physical infrastructure) are their mostcommon challenges or constraints while placing access to finance as second priority which has 19in scoring.46