Asymmetric information, business environment, and transactions costs among business owners in Nigeria: Implications for female entrepreneurial sustainability transitions

Abstract

This article assesses the link between asymmetric information and transaction cost and how this can enhance or hinder female business owners from attaining entrepreneurial sustainability transitions in the Nigerian business space. The concept of information dissemination, business environment, and ease of doing business were scrutinized as a subdivision of asymmetric information and transaction cost theory among female entrepreneurs in Nigeria using the Enterprise Survey Data of the World Bank. Key indicators like regulations and taxes, gender, firm characteristics, finance, and infrastructure were highlighted as major business obstacles limiting female entrepreneurs. These were found to limit female entrepreneurs in accessing information, which can help them adequately flourish in the Nigerian business environment, as well as the attainment of entrepreneurial sustainability transitions.

Assessing sustainable agriculture and food systems in Africa: Thematic areas and indicators of progress

“…Agricultural entrepreneurship is an emerging aspect of sustainable agriculture and food systems. Agricultural entrepreneurship is doing agriculture in a business‐like manner and this must be learnt by all involved in agriculture, including youth and women (Lans, Verhees, & Verstegen, 2016; Minyangu et al, 2021; Obisesan & Olayide, 2021). The art of doing business must be leant because there are series of steps and technicalities involved which has to be taught founded on the experiences of the different farmers.…”

“…The art of doing business must be leant because there are series of steps and technicalities involved which has to be taught founded on the experiences of the different farmers. In doing agricultural entrepreneurship there are some important factors that has to be put into consideration which are the environment in which agriculture is to be carried, understanding of the sector as a whole, the participants or the farm families, gender, accessibilities to entrepreneurial trainings and skills (Hulsink, Dons, Lans, & Blok, 2014; Obisesan & Olayide, 2021). When there is a proper and adequate training as well as understanding of the operations of agribusiness by a farmer agricultural entrepreneurship will become a glimmer of hope bringing forth multiplicity in the farmer, the community, the nation and the continent of Africa.…”

“…When there is a proper and adequate training as well as understanding of the operations of agribusiness by a farmer agricultural entrepreneurship will become a glimmer of hope bringing forth multiplicity in the farmer, the community, the nation and the continent of Africa. This can be learnt from the experiences of the European Union on the contribution of agricultural entrepreneurship for a sustainable development as seen in the research carried out by Martinho (2020) compared to the challenges of entrepreneurship in Nigeria (Obisesan & Olayide, 2021). Consequently, an understanding of agriculture as an enterprise is expected to inculcate the habit of climate‐smart agricultural practices into farmers (Rosenstock & Nowak, 2018).…”

“…This has to be taught and learnt hence the need for stakeholders at all levels to ensure sustainable agriculture and food systems through agri‐preneurship (De Massis, Kotlar, Wright, & Kellermanns, 2018). Further, specific indicators like regulations and taxes, gender, firm characteristics, finance and infrastructure have been identified as major business obstacles of female entrepreneurs (Obisesan & Olayide, 2021).…”

Disclosure of gender policies: do they affect business performance?

“…In the 21st century, women have a greater participation in social, labour, political and economic aspects ( Goldin, 2006 ). Women perform management tasks in companies and play an important role as entrepreneurs ( Tresierra Tanaka et al., 2016 ), but there is still much to be done, especially in some regions of the world ( Obisesan and Olayide, 2021 ; Minyangu et al., 2021 ). Along these lines, the incorporation of gender equality and women's empowerment as 5th Sustainable Development Goals (SDG) highlights the importance of this objective in order to achieve a society where women's participation at all levels is a fact ( Abou-Shouk et al., 2021 ).…”