Chapter One — 1.1 Background to the Study

Business Plan Competitions has increasingly attracted the attention of researchers, regulators, and practitioners concerned with business sustainability of informal sector businesses. This growing interest reflects the recognition that business plan competitions does not operate in isolation, but interacts with a wider set of institutional and market conditions found within Selected Listed Manufacturing Firms in Nigeria.

Selected Listed Manufacturing Firms in Nigeria presents a useful setting for examining this relationship precisely because the conditions there — structural, regulatory, and behavioural — differ from those typically assumed in the broader literature, most of which draws on evidence from more developed economies.

1.2 Statement of the Problem

While business plan competitions is widely discussed in policy and industry circles, empirical evidence on its actual effect on business sustainability of informal sector businesses within Selected Listed Manufacturing Firms in Nigeria remains sparse and, in places, contradictory. This lack of localized, rigorous evidence makes it difficult for decision-makers to know with confidence whether current approaches to business plan competitions are helping or hindering business sustainability of informal sector businesses — a gap this study sets out to close.

1.3 Objectives of the Study

1. To examine the effect of Business Plan Competitions on business sustainability of informal sector businesses in Selected Listed Manufacturing Firms in Nigeria.
2. To assess the extent to which business plan competitions influences business sustainability of informal sector businesses within the study area.
3. To identify the challenges associated with business plan competitions in relation to business sustainability of informal sector businesses.
4. To recommend strategies for optimizing business plan competitions in order to improve business sustainability of informal sector businesses.

1.4 Research Questions

1. What is the effect of business plan competitions on business sustainability of informal sector businesses in Selected Listed Manufacturing Firms in Nigeria?
2. To what extent does business plan competitions influence business sustainability of informal sector businesses within the study area?
3. What challenges are associated with business plan competitions in relation to business sustainability of informal sector businesses?
4. What strategies can be adopted to optimize business plan competitions in order to improve business sustainability of informal sector businesses?

1.5 Significance of the Study

This study is significant to a range of stakeholders. For policymakers and regulators, the findings offer evidence to guide the design of frameworks that support healthier outcomes around business sustainability of informal sector businesses. For managers and practitioners within Selected Listed Manufacturing Firms in Nigeria, the study provides practical insight into how business plan competitions can be better managed. Finally, it contributes to the academic literature on entrepreneurship by extending existing knowledge into a specific empirical context, and offers a reference point for future researchers.

1.6 Scope of the Study

The study is limited to an examination of Business Plan Competitions and its relationship with business sustainability of informal sector businesses within the context of Selected Listed Manufacturing Firms in Nigeria. It reflects a MSc-level scope of analysis and relies on data and perspectives available within that scope; generalizing the findings beyond this specific context should therefore be done with appropriate caution.