Within Eti-osa, in Lagos we have both survival entrepreneur and Growth oriented entrepreneur.

I will
talk briefly about survival entrepreneurs. Some common survival entrepreneur include, market traders,
Keke napep riders, bus drivers, outdoor food sellers, tailors, hair dressers. Thier motivation is similar.

1. They want to take care of family, with the profit they make daily.

2. Entry cost is low, almost no skill requirement, they are their business

3. Local saving habits, they save using a local thrift collection saving schemes called Ajo, Esusu and
Adashe (in Yoruba, Ibo and Hausa).

4. They are loyal to their clan (associations, youth, men and women groups) which may not necessarily
be people of the same community, and many times spend these monies on ceremonies like birthdays,
burials, anniversaries

5. Low literacy and skills level in most of these entrepreneur. Are easily explotted by thier trade heads
who work with the local government councils.

6. Many of these businesses aren't registered and do not register their business name.

7. Survival entrepreneurs believe that being visible in the market place means setting up their business
in place where people walk or drive by.

8. They have a very limited understanding of customer service and pay little attention to the customers.
They think like this "If you don't buy someone else will"

9. They work for themselves and employ the services of their family or friends to help out .

Growth oriented entrepreneur on the other hand include bakeries, logistics companies, supermarkets,
motels, tech companies, procurement firms, HR firms. Their motivations are similar.

1. They opportunity driven

2. They are growth driven

3. Many of them have a business name and some are registered as private LLC. These businesses get
registered to improve their legitimacy especially with the financial institutions, vendors and their
customers.

4. Entrepreneur have some form of formal education at least a senior school certificate but most have
certificates from higher institutions.

5. Their ability to get loans is easier than survival entrepreneurs because of two main reasons. Firstly
because many have collateral (land, property, other assets) and secondly cash flow from the business.
6. They believe that visible is key but do not depend on only physical visibility. They employ social media
and other main stream media. They rely also on referrals and word of mouth.

7. They have an average understanding of customer service and employee satisfaction. So they work to
please their customers and retain them. Staff are important to them so they put thoughts into providing
a welfare package for their staff.

8. They find it easier to expand and employ more hands, and this helps local government councils
reduce unemployment and under-employment in the locality.