Income inequality among entrepreneurs in Ondo State, Nigeria Online publication date: Mon, 10-Feb-2020
by Olubukola Ehinmowo; Christian Harrison; Adewale Isaac Olutumise
International Journal of Business and Globalisation (IJBG), Vol. 24, No. 1, 2020
Abstract: The study examined the income inequality among entrepreneurs in Ondo State, Nigeria using a questionnaire based survey. Multistage sampling technique was used to select the 200 respondents and the data was subjected to descriptive statistics, Lorenz curve, Gini coefficient and double-log regression model. Findings showed that 40% of the respondents spent at most 12 years in school, while hair dressing (43.5%) and fashion designing (31.5%) were the most common enterprises among the respondents. The findings also revealed that majority of the entrepreneurs earned below ₦200,000 per annum. The result of the Gini coefficient (0.58) showed that there was income inequality as shown by the Lorenz curve while the regression indicated that gender, family size and number of workers significantly affected the income of the entrepreneurs. This study is important as it recommends policies targeted at improving income as well as reducing the income inequality of the entrepreneurs.
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