STRATEGIES AND ENTREPRENEURIAL PERFORMANCE OF STREET FOOD VENDING

ABSTRACT

This study investigated strategies and entrepreneurial performance of street food vendors in Benin City. The main purpose of the study was to establish the factors influencing performance of street food vendors. The study also sought to establish the influence of location, entrepreneurial expertise, financial capability and family obligation on the performance of businesses run by street food vendors in Benin City. The study also sought to establish the moderating effect of government policies and regulation on the relationship between various factors influencing performances of businesses run by street food vendors. The study adopted a survey research design. The population comprises of one hundred street food vendors in Benin City. The study used primary data collected using a structured questionnaire.

From the analysis and findings, it was seen that marital obligation of a spouse affects business performance and family support affects food vending business performance. Also, the analysis shows that personal savings is a huge source of financing for street food vendors, locating of the business in a busy area enhances business performance, and that customers accessibility to business location enhancing business performance. Also from the findings, it was observed that government policy on urban/city planning, road construction and other similar projects affect street food vending business positively, government’s monetary policy and approach to inflation rate control boosts street food vending business, government’s policy and approach to environmental sanitation and public health boosts street food vending business and government policy on ease of business registration and location licensing has enhanced street vending business. Lastly from the findings of this research, it was found out that interior and exterior hygiene as well as aesthetic attract customers and drives business performance and the findings show that expertise affects business performance to a large extent.