THE ROLE OF SOCIAL CAPITAL IN PROMOTING MICRO AND SMALL BUSINESS SURVIVAL AND SUSTAINABILITY IN BENIN CITY.

ABSTRACT

This study focused on the role of social capital in promoting micro and small businesses survival and sustainability in Benin City. Three (3) research questions and three (3) hypotheses were guided for the study. The study adopted survey Presearch design. The instrument for data collection was a questionnaire; it was built around the research question by the researcher and validated by the researcher’s supervisor. 153 questionnaires were printed and distributed to the respondents. Data collected were analyzed using frequency count, percentages, mean and standard deviation, and Regression analysis. The major findings of the study are as follows: norms and values have big impact on the promotion and sustainability of micro and small businesses in Nigeria; there is a significant relationship between social networking as a component of social capital and the promotion and sustainability of micro and small businesses in Nigeria; and there is a significant relationship between investors trust as a component of social capital and the promotion and sustainability of micro and small businesses in Nigeria. Based on the findings and conclusions, the following recommendations are made: Therefore, MSMEs should place emphasis on promoting observance of norms and values; MSMEs should ensure that they exploits the benefits of social networking; and there is a significant relationship between investors trust as a component of social capital and the promotion and sustainability of micro and small businesses in Nigeria.