Chapter One — 1.1 Background to the Study

Over the past decade, the relationship between business plan competitions and business sustainability of informal sector businesses has become a subject of considerable debate among scholars and industry practitioners alike, particularly within the context of Enugu State where operating conditions differ markedly from more developed markets.

Within the context of Enugu State, this relationship carries particular significance. Organizations in this setting operate under a distinct combination of economic, regulatory, and market conditions that may amplify or dampen the effect of business plan competitions on business sustainability of informal sector businesses, making a context-specific inquiry both timely and necessary.

1.2 Statement of the Problem

Despite a growing body of literature on business plan competitions, there remains limited consensus on the precise nature of its relationship with business sustainability of informal sector businesses, particularly within Enugu State. Many organizations continue to make decisions about business plan competitions without a clear, evidence-based understanding of how those decisions ultimately affect business sustainability of informal sector businesses. This gap between practice and empirical understanding is the central problem this study seeks to address.

1.3 Objectives of the Study

1. To examine the effect of Business Plan Competitions on business sustainability of informal sector businesses in Enugu State.
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 Enugu State?
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 Enugu State, 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 Enugu State. It reflects a PhD-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.