Journal of Applied Economics and Business Studies, Volume. 6, Issue 3 (2022) 1-22 https://doi.org/10.34260/jaebs.631 1 Journal of Applied Economics and Business Studies (JAEBS) Journal homepage: https://pepri.edu.pk/jaebs ISSN (Print): 2523-2614 ISSN (Online) 2663-693X Creating Entrepreneurs via Social Media Platforms and Employment Generation in Nigeria Egunjobi, T. Adenike1*1, 1 Economics Department, University of Lagos, Akoka Lagos State, Nigeria ABSTRACT This paper explores the potential need and benefits inherent in the use of social media as an instrument for creating entrepreneurs and generating employment amongst youths in Nigeria given the high youth unemployment rate. 92 youths who are social media users selected through survey responded to structured questionnaire via Google forms. The data was analysed using statistical descriptive tools and Chi square test. Findings revealed that in Nigeria, social media can promote on-line trading and create a source of livelihood for youths though, the enormous potentials of doing business through social media platforms locally and internationally are fairly explored. Also, trading via social media significantly impact employment creation and such trading does not significantly increase profits and reduce cost of doing business. The study recommended a reliable, affordable telecommunication network and combined efforts of government and the private sector to facilitate online trading and training in ICT entrepreneurship skills. Keywords Entrepreneurship, Online training, Social media, Youth unemployment JEL Classification J24, O15, O31, E24 1. Introduction Advancement in Information, Communication and Technology (ICT) is rapidly transforming the international business setting from the traditional business practices to better, faster, far reaching and most effective means of doing business. This has led to the enormous opportunities for employment creation thereby reducing unemployment among the youths 1* aegunjobi@unilag.edu.ng mailto:aegunjobi@unilag.edu.ng Egunjobi, T. Adenike 2 who are the greatest users of ICTs. Such opportunities include the use of mobile technologies, internet facilities, computing and social media platforms (Oestreicher-Singer and Zdalmanson, 2013). Social media are interactive web based technologies that fosters establishment and sharing of information, concepts and thoughts through virtual networks and communities (Kietzmann and Kristopher, 2011). Users can create and share content electronically, quickly and easily which makes it very suitable for business purposes. According to Global social media statistics (2022) the number of people who make use of social media by July 2022, is 4.7 billion, which buttresses the amazing potentials for business that can be harnessed through social media platforms especially in present times when COVID 19 pandemic restrictions has limited and constrained the traditional means of doing business. Statistics showed that by January 2020, total world population stood at 7.75 billion, out of which 5.19 billion are smart mobile users, 4.54 billion are internet users while 3.80 million are active social media users. Obviously, billions of people globally make use of social media apps because of its wider reach, accessibility and prompt response, though its use as a business tool and employment creation remains not substantially explored (Global social media statistics, 2021). In 2010, the world recorded a 12.6% youth unemployment rate, this is almost three times the 4.8% adult unemployment rate (UNDESA, 2011). Youths that are under the age of 34 forms more than 60% of the population of Nigeria and half of this youthful population are unemployed (NBS, 2021). With this high level of youth unemployment, the number of youths involved in e-commerce activities should undoubtedly be higher than witnessed. In Nigeria, yearly, about 300,000 youths graduate from tertiary institutions, the problem is escalated considering the population growth rate, reduced private investment and reduced quality of education and skill acquisition (Imoisi et al, 2017). Also, the global financial crisis and the consequences of COVID 19 pandemic on the labour market and the economy had aggravated the problem. These advance the need for a new avenue for employment creation. Thus, a great army of unemployed youth evolves with some participating in various acts of crime and deviant behaviour (Egunjobi, 2021). Amidst all the personal, social, economic, political and security challenges posed by youth unemployment, most research works had been dedicated towards entrepreneurship training and skill development programmes as possible ways of reducing youth unemployment (Egunjobi, 2021; Okafor, 2019; Adelekan et al., 2018; Ekong and Ekong, 2016 and Aribaba et al., 2013) there exists a dearth of knowledge on the enormous potentials that can be Journal of Applied Economics and Business Studies, Volume. 6, Issue 3 (2022) 1-22 https://doi.org/10.34260/jaebs.631 3 harnessed in solving the unemployment problem via social media platforms. This study thereby fills this gap as the pilot empirical study in Nigeria by providing a means of curbing youth unemployment that has not been really explored in Nigeria which is creating employment and doing business through the social media platforms which has enormous local and international benefits for the youths and the nation. This arises out of the high rise in unemployment especially amongst the youths, the business opportunities yet untapped in the growing social media market as evident in the small percentage of those involved in on line trading compared to the size of the population and the need to redirect the enormous time spent by the youths on various social media platforms for business purposes, training and sustainable development. Thus, the questions asked in this study are, what is the effect of trading via social media platforms on employment creation amongst youths in Nigeria? Is trading via social media platforms profitable and reduce cost of doing business? And what is the influence of online training programmes on employment creation? This paper test the hypotheses of a significant relationship between entrepreneurship trading via social media platforms and employment creation and that trading via social media platforms significantly increase profit and reduce cost of doing business using descriptive tools and Chi squares analysis. The above is the introductory part of this paper, followed by review of literature, then theoretical framework, methodology, analysis and discussion of result and then, summary, conclusion and recommendations. 2. Literature Review 2.1 Review of Concepts Entrepreneurship Entrepreneurship is a dynamic progression of creation, vision and change. The person in charge of arranging and running an enterprise is called an entrepreneur (Akanwa and Agu, 2005). Entrepreneurship requires the generation and implementation of new ideas and solutions and the commonest type of entrepreneurship occurs when a person starts a business (Adelekan and Dansu, 2016). Hence, it can be concluded that an entrepreneur is that person who takes advantage of business prospects despite limited resources available in order to make profit. He could be employed or self-employed. Unemployment A situation where a person is without a job is called unemployment. As a result, the unemployed are those actively searching for jobs and unable to secure one over a specified period of time (Olubukola, 2013). According to the National Bureau of Statistics (2009), “the Egunjobi, T. Adenike 4 unemployed are the individuals with no work, but are looking for work”. Globally, the rate of unemployment seems to be rising, even in developed nations. Statistics in Nigeria showed that 65.5% of the youthful population are unemployed, this represents more than half of the youths in Nigeria. Also, between 2014 and 2020, youth unemployment averaged 25.87% recording the highest percentage of 53.40% and the lowest percentage of 11.7% in the fourth quarter of 2020 and 2014 respectively (NBS, 2020). Social Media Social media is a mixture of two words; social, which means exchange of information and media which is the medium of communication. It involves series of websites and applications that enables human beings to distribute content like links, pictures, posts, texts, etc. quickly, on time and efficiently (Roopak, 2021). Social media is an internet based technology that is interactive and user generated content which accelerates the exchange of thoughts and material through virtual systems (Dollarhide, 2021) which can be used either by big or small firms as a means of creating and improving business activities (Rosenbaum and Cronin, 2013). The medium of connectivity is referred to as Social Media platforms. Online Training Programmes Online education is described as when teachers and learners are separated from each other while learning is taking place, this is distinct from self-study and face to face instruction. It uses computer to exchange and transfer information amongst business operators thus facilitating business transactions (Keegan, 1988). Online learning according to Benson (2002) is an improved type of distance learning which produces better assess to educational opportunities and has greater flexibility and connectivity to promote wide-ranging interface (Hiltz and Turoff, 2005 and Ally, 2004). Social media, Employment opportunities and National development The earliest forms of Social Media were newspapers, magazines, television, radios etc. with limited forms of interaction and feedback, it then progressed to a means whereby family and friends could interact without local or international boundaries and was later adapted for business purposes. In business, it is used to market goods, promote brands, connect to customers and foster new businesses. Build customer confidence as they can easily interact with the sellers, helps business to respond rapidly to positive and negative feedback (Fadi and Racha, 2012) Social media with ICT is not only a source of career guidance but also potential for new employment and prospects. Also, its contribution to economic growth is high and has assisted in reducing unemployment, creating better employment conditions and guaranteeing job Journal of Applied Economics and Business Studies, Volume. 6, Issue 3 (2022) 1-22 https://doi.org/10.34260/jaebs.631 5 security (UNDESA, 2011; Fadi and Racha, 2012). Again, usage of social media platforms and technology promotes reduction in cost of doing business and educational investment and reforms though favorable business environment is required (World Economic Forum, 2011and ILO, 2011) The crucial support given by ICTs to the promotion, progression and expansion of e- business through social media platforms cannot be quantified. Social media is used as promotional tools, for marketing, public relations, advertising, and foundation for tech- start- up in the work place and support the learning of entrepreneurial skills in the classrooms (Fadi and Racha, 2012). Governments also encourage entrepreneurship via social media because it helps to foster development of the economy (Nelson et al., 2014) such as cultural, human, social, political and economic development (Oso , 2011) and is a market place of ideas and creativity which promotes business and development of the economy (Danbatta, 2017). However, government must be ready to provide the requisite infrastructure, training and skills needed to promote such investments (UNCTAD, 2012). Other benefits as advanced by UNCTAD, (2012) are; business costs are reduced, communication is improved and higher degree of transparency is promoted. Thus, to better tap these benefits the private and public sectors must work together to establish an ICT driven investment and business environment. Essentially, Social media recorded over 90% growth from 2000 to 2008 and this upward trend had continued in Nigeria to 2016. Again, social media fact sheet (2021) revealed that users of social media are youths of which 90% are between the ages of 18 and 29, are better educated and earned over $75,000 per year. As Ayo et al., (2011) discovered that though many of the websites in Nigeria received patronage however, most customers use the business websites to access information as concerns comparison of prices and brands but hardly make purchases online. 2.2 Empirical Literature As observed, the causes and consequences of unemployment in Nigeria are detrimental to individual and national development. The paper by Kayode et al., (2016) identified bad governance, deterioration of industries, wide scale corruption and unfavourable business environment as the factors liable for high unemployment in Nigeria and the resultant implications include youth restlessness, poverty and high societal evils. The paper recommended urgent intervention in power, industry, and agricultural sectors of the economy. In addition, Adebayo, (1999) recognised poverty and food insecurity and this resorts to various unlawful behaviors which distorts the nation’s economic progress because it lowers standard of living, breeds anxiety about the future, threat to peace and stability and encourages Egunjobi, T. Adenike 6 brain drain (Egunjobi, 2014). Egunjobi (2021) study on Nigeria described unemployment as the root cause of insecurity and poverty using granger causality test, in the same vein, Tourtou (2018) discovered that the root cause of poverty and deviant behaviors in Nigeria is unemployment, especially amongst the youths. The paper advised that rather than spending huge money on military artillery and personnel, unemployment should be seen as a collective problem and tackled with emphasis on the role of the mass media, provision of industrially friendly environment and restructuring of the educational system. Evidences showed that a major way of reducing unemployment is through entrepreneurship education and training of youths physically and/or online. According to Anyadike et al., (2012) the rising unemployment situation dwindles the potentials of the country and the way out is that government should make skills development for entrepreneurial training paramount, this can be achieved by funding and restructuring the educational system to promote employment and encourage practical/ online training and skill development (Egunjobi, 2014). Especially because of the mismatch between “gown and work” in Nigeria, thus the need for training programmes to facilitate employment and development (Olubukola, 2013) The study by Ekong and Ekong, (2016) in Akwa Ibom state on the National directorate of employment (NDE) made use of descriptive survey and found that, there is a direct link between acquisition of skills by NDE trainees and unemployment reduction. Similar studies by Charney and Liecap, (2000) and Luthje and Frank, (2002) also discovered that a positive relationship existed between education and training and creation of businesses. In addition, Khursheed (2012); Aribaba, et al, (2013) and Aribaba, et al., (2011) noted that entrepreneurship training programmes had direct impact on capital formation and employment using empirical data, but Okafor (2019) study which assessed the effectiveness of government in reducing unemployment using the educational institutions of learning revealed that government has fallen short of expectation thus increasing running costs and adversely affecting training. Since, entrepreneurship brings about self-sufficiency and economic prosperity for individuals and the economy at large. Government should pursue it as an employment strategy because it does not only create jobs but also makes more people self-employed (Idemobi, 2015) Social media platforms, apart from creating and providing jobs have enormous advantages derivable. The enormous advantages of social media for business includes; it permits focus Journal of Applied Economics and Business Studies, Volume. 6, Issue 3 (2022) 1-22 https://doi.org/10.34260/jaebs.631 7 on targeted marketing and outreach at minimal cost, promotes social connections, increases social networking and collaborations, creates new apparatus for businesses and facilitates quick distribution (Economist, 2011 and Needleman, 2010). However, reduced cost of marketing is the greatest advantage of social media (Gupta 2021). In addition, communication is improved, business costs are reduced and higher degree of transparency is achieved (UNCTAD, 2012) Assessing the benefits of the use of social media through interview, Wantchami (2020) revealed that marketing via social media had increased sales, generated awareness and improved customer relationships with benefits outweighing cost incurred. However, a limitation is the lower level of trust exhibited by consumers. Empirically, Leung et al., 2015; Idota et al., 2017 and Aladwani, 2015 alluded the use of social media as having a positive and significant effect on business sales. In the same vein, Kumar et al., (2013) indicated that social media can generate greater revenue via strong customer relationships. Jagongo and Kinyua (2013) showed that when social media is properly harnessed it can promote brand and increase sales and profit., though economic conditions in Nigeria, seems to make this difficult to achieve. However, the benefits of social media is not only local but international as asserted by Bouranta et al., (2019) while highlighting key deliverables which are promotion of business and customer communication that help businesses to attain clients all over the world. Although, most businesses especially in Nigeria has not fully harnessed this international option. Buttressing social media as a source of employment is being grossly under explored. Urbiati et al., (2020) employing data gathered from youths on the effective use of social media for creating employment in Italy, discovered that though the unemployed seemed to use social media basically for news and entertainment purposes, the employed use it majorly for social connectivity and not for business. The study by Okande, (2015) concluded that the effect of social media in employment creation has been exaggerated, because Kenyan youths largely use the social media for interaction socially and has not fully explored it as a means to participate in employment creation initiatives. The study however stressed that social media can potentially and significantly affect employment creation amongst youths. As opined by Kane (2000) more economies are concerned about encouraging entrepreneurship via social media as avenue for job creation because during recession and instability, entrepreneurs /small businesses continue to create more jobs while reputable companies retrench employees. In a similar vein, Uzochukwu et al., (2015) noted that Egunjobi, T. Adenike 8 entrepreneurship is the solution to most societal problems. Thus, given the scarcity of literature on the use of social media as a means of creating entrepreneurs and because of the abundant unexplored opportunities in the use of the social media as employment generation and creation instrument in Nigeria since it is still a growing market and yet to be fully tapped. This research thus intends to fill this gap by assessing the effectiveness of social media in employment creation and generation in Nigeria. 3. Theoretical Framework and Methodology 3.1 Theoretical Framework The Entrepreneurial Effect Professor Schumpeter has contributed in no small measure to entrepreneurship study. He is referred to as the first researcher to postulate about entrepreneurship, He contended that the invention and technological change of a nation come from the entrepreneurs, or wild spirits which is referred to as "entrepreneur-spirit". He affirmed that "... the doing of new things or the doing of things that have already been done in a different way stemmed directly from the efforts of entrepreneurs”. Schumpeter argued against popular opinion and asserted that the drivers of innovation and economy progress are businesses which not only invest in research and development of new products and services but are also able to sell them at cheaper prices, thereby increasing standard of living. The procedure through which entrepreneurship undertakings decreases unemployment problem in a country is termed “Schumpeter effect” (pull effect). Research showed that unemployment is indirectly related to new firm startups, that is, employment is stimulated when new businesses are established and unemployment becomes substantively reduced (Garofoli, 1994; Andretsch and Fritsch, 1994). Oladele et al. (2011) noted that countries with lower degree of entrepreneurial activities, having low propensity to set up enterprises, recorded high rate of unemployment. The reason for this development is because of the deficiency in manpower capital and entrepreneurial skills required to effective mange such businesses/jobs and consequently they remain unemployed. Thus to promote industrial growth and reduce unemployment, a certain level of manpower prowess is required (Andretsch and Fritsch, 1994). 3.2 Data The survey research design was employed in this study because it enables the researcher to select respondents relevant to the research and provides effective data summary and Journal of Applied Economics and Business Studies, Volume. 6, Issue 3 (2022) 1-22 https://doi.org/10.34260/jaebs.631 9 reporting with little observer subjectivity (Cohen et al., 2007). Google forms were sent out randomly to 115 online users adjudged to be youths via their online profile with an introductory letter specifying that only youths below 35 years, involved in online trading and who possess basic ICT skills in Nigeria should participate. The sample size consisted of 92 respondents (80% response rate) across the nation who met these criteria and correctly filled the questionnaire sent out via email and whatsApp. The research instrument used was the structured questionnaire by Converse and Presser (1986), modified by the researcher and was chosen because it requires low cognitive knowledge and provides a more responsive and wider coverage allowing same information to be gathered from the respondents (Turner, 2010). It had two sections. The first focused on the demographic characteristics of the respondents and the second section focused on issues concerning trading using social media platforms, online training and employment creation in Nigeria. The respondents provided answers based on their own opinions. The questions asked in the second section were measured using a 5 point Likert scale. Statistical methods used for analyzing data collected was descriptive statistics (frequencies and percentages) and inferential statistics (chi square test) was used in drawing inferences as well as conducting test of the hypotheses. 4. Data Analysis and Discussion 4.1 Demographic Characteristics of the Respondents Table 1: Demographic Characteristics of the Respondents Variables Frequency (F) Percentage (%) Gender Male 40 43.5 Female 52 56.5 Total 92 100.0 Age Bracket below 29yrs 88 95.7 30 - 39yrs 4 4.3 40 - 49yrs - - 50yrs and above - - Total 92 100.0 Status Self Employed 28 30.4 Joint owner - - Employer 64 69.6 Total 92 100.0 Monthly profit / Net Income Range N20,000 – N30,000 32 34.8 N30,000 – N40,000 4 4.4 N40,000 – N50,000 12 13 Above N50,000 44 47.8 Egunjobi, T. Adenike 10 Total 92 100.0 Nature of Business Services 62 67.4 Food and Beverages 10 11 Clothing and Jewelry 12 13 Electronics 2 2.1 Others 6 6.5 Total 92 100.0 Source: Author’s Computation Table 1 above depicted that 43.5% of the respondents analysed in the study are male and 56.5 are female. Thus, the study captured more number of females than males. On the issue of age, 95.7% of the respondents are below age 29 while 4.3% of the respondents are between 30 and 39. This conforms to the requirement of the study, since it centers on youths. Also, 30.4% of the respondents are self- employed while a greater percentage, 69.6% are employees in entrepreneurship internet related business. On the profit / net monthly income earned 34.8% earn incomes between N20,000 and N30,000, 4.4% earn incomes between N30,000 – N40,000, 13% earn between N40,000 – N50,000 and 47.8% which are in the majority earn N50,000 and above. This depicts that with the right tools online trading is lucrative. On the nature of business, majority of the respondents (61.8% ) are in the Service industry, followed by those in Clothing and Jewelry (13%) then, Food and Beverages (11%), others (6.5%) and Electronics (2.1%). In this section the descriptive statistics of the variables of interest to the study are analysed using simple percentage table. The code used is strongly agree (SA), agree (A), Neutral (N), disagree (D) and strongly disagree (D). Table 2: The effect of Social Media on youth employment creation Variables Likert Scale Frequency (F) Percentage (%) The spread of Social media among the youths has largely promoted online trading as well as created more employment opportunities for the youth SA 62 67.4 A 30 32.6 N - - D - - SD - - Total 92 100.0 The introduction of Google AdSense clicks through which youth are able to monetize their contents via adverts on Youtube, Instagram and Blogs has helped create sources of livelihood for the youth SA 44 47.8 A 44 47.8 N 4 4.40 D - - SD - - Journal of Applied Economics and Business Studies, Volume. 6, Issue 3 (2022) 1-22 https://doi.org/10.34260/jaebs.631 11 Total 92 100.0 Trading via Social media platforms has not only created entrepreneurs but has also made the youths employers of labour SA 54 58.7 A 28 30.4 N 4 4.4 D 6 6.5 SD - - Total 92 100.0 Social media platforms has helped to boost the establishment of retail outlets requiring little capital and investment among the youths. SA 58 63 A 28 30.4 N 4 4.4 D 2 2.2 SD - - Total 92 100.0 The establishment of customer services by organizations to enhance interaction between consumers and sellers through social media especially on Twitter, Facebook, Whatsapp and other social media platforms has generated more employment opportunities for the youth. SA 46 50 A 42 45.7 N 4 4.3 D - - SD - - Total 92 100.0 The adoption of social media platform in work places has created employment opportunities for youths with ICT prowess SA 34 37 A 54 58.6 N 2 2.2 D 2 2.2 SD - - Total 92 100.0 Online trading has brought the opportunity to further penetrate local and international markets, thereby creating more employment. SA 52 56.6 A 38 41.3 N - - D 2 2.1 SD - - Total 92 100.0 Source: Author’s Computation As concerns the question, if the spread of Social media among the youths has largely promoted online trading and created more employment opportunities for the youth, majority of the respondents (67.4 %) strongly agreed while (32.6%) respondents agreed. This asserts the role of social media as an employment generation tool (idemobi, 2005). The introduction of Google AdSense clicks through which youth are able to monetize their contents via adverts on Youtube, Instagram and Blogs has helped created sources of livelihood for the youth, 47.8% of the respondents strongly agreed and also agreed. Concerning, if trading via social media platforms has not only created entrepreneurs but has also made the youths employers of labour, more than half of the respondents (58.7%) strongly agreed. Finding out if social media platforms have helped to boost the establishment of retail outlets, a larger percentage Egunjobi, T. Adenike 12 of the respondents (63%) strongly agreed. The establishment of customer services by organizations to enhance interaction between consumers and sellers through social media platforms has generated more employment opportunities for the youth, half of the respondents (50%) strongly agreed while (45.7%) agreed to this assertion. Asking if the adoption of social media platform in work places has created employment opportunities for youths with ICT prowess, majority of the respondents, 58.7% agreed. Online trading has brought the opportunity to further penetrate local and international markets, (56.5%) of the respondents strongly agreed and (41.3%) agreed, this is collaborated by Bouranta, (2019). Thus, it can be concurred that trading using social media platforms has not only created job opportunities, but it has made youths not only employees especially in customer care organizations which uses ICT but made them employers of labour as well. It has become a source of livelihood for youths and created opportunities to penetrate both local and international markets though this option has not been fully explored. Table 3: Profitability and Cost of doing business via Social media platforms Variables Likert Scale Frequency (F) Percentage (%) Online trading has brought the opportunity to further penetrate the markets, greater visibility, increased customer base and thereby creating more employment and% generate greater profits SA 50 54.3 A 34 37 N 6 6.6 D - - SD 2 2.1 Total 92 100.0 Businesses are becoming more innovative, convenient and flexible to operate with electronic products and services both for the buyers and sellers. SA 52 56.5 A 32 34.8 N 6 6.6 D - - SD 2 2.1 Total 92 100.0 Online trading when compared to non - online trading reduces overhead costs like renting of shop, office space, cleaning services, buying of office equipment and furniture, waste of time, etc SA 50 54.3 A 26 28.3 N 14 15.2 D - - SD 2 2.2 Total 92 100.0 Online trading gives immediate feedback from customers which helps in building and retaining customers leading to more profit SA 42 45.7 A 34 37 N 12 13 D 2 2.1 Journal of Applied Economics and Business Studies, Volume. 6, Issue 3 (2022) 1-22 https://doi.org/10.34260/jaebs.631 13 SD 2 2.1 Total 92 100.0 Many of these businesses are informal and thus reduces cost of doing business like payment of multiple taxes, stress of incorporation, hassle of government inspection of business and bureaucracy, difficulty in accessing credit facilities etc SA 44 47.8 A 34 37 N 8 8.7 D 4 4.4 SD 2 2.1 Total 92 100.0 Online trading eliminates the problem of physically attending to customers which limits the scope of business, thus reduces the cost of marketing and ensures more profit SA 44 47.8 A 28 30.4 N 14 15.2 D 2 2.2 SD 4 4.4 Total 92 100.0 Source: Author’s Computation Responding to the question, whether, online trading has brought the opportunity to further penetrate the markets, greater profits and so on, 54.3% respondents strongly agreed. Are businesses becoming more innovative, convenient and flexible to operate using electronic products and services, 56.5% strongly agreed while 34.8% agreed to this assertion? Online trading when compared to non - online trading reduces overhead costs, 54.3% strongly agreed. 45.7%, 47.8% and 47.8% respondents all strongly agreed that online trading gives immediate feedback from customers, reduces cost and ensures more profit respectively. Thus, though many online businesses may be informal and small scale, benefits derivable include reduction in the overhead costs and cost of doing business, greater clientage, visibility and outreach to customers locally and internationally, generates employment and greater profits as ascertained by Needleman, (2020); Aladwani, (2015) and Idota et al., (2016) Table 4: Online training programmes and employment creation Variables Likert Scale Frequency (F) Percentage (%) E-Learning/training affords youths the opportunity of becoming self- employed and starting their own businesses SA 52 56.6 A 32 34.8 N 4 4.3 D - - SD 4 4.3 Total 92 100.0 Online training programmes equip youths with technical skills and business acumen required to manage business SA 40 43.5 A 30 32.6 N 14 15.2 D 4 4.3 Egunjobi, T. Adenike 14 SD 4 4.3 Total 92 100.0 E-learning offers a more efficient, accessible, convenient relaxed and flexible way of training. SA 21 45.7 A 16 34.8 N 8 17.4 D - - SD 1 2.1 Total 92 100.0 Online training programmes have improved the technical skills and knowledge of the youths in ICT proficiency making them more employable. SA 21 45.7 A 22 47.8 N 2 4.3 D - - SD 1 2.1 Total 92 100.0 Online line training has enhanced the entrepreneurship ability of the youths beyond that which has been provided by the secondary and tertiary educational institutions SA 24 52.2 A 16 34.8 N 3 6.5 D 2 4.3 SD 1 2.1 Total 92 100.0 Author’s compilation Regarding the enquiry if E-Learning/training affords youths the opportunity of becoming self- employed, more than half of the respondents (56.34%) strongly agreed as attested to by Idemobi, (2015). Also, (43.5%) strongly agreed and (32.6%) agreed that online training programmes equipped youths with technical skills and business acumen. Again, (45.7%) strongly agreed and (34.8%) agreed that E-learning offers a more efficient, accessible, convenient and flexible way of training. This is in line with the work of Ally, (2004). Online training programmes have improved the technical skills and knowledge of the youths in ICT proficiency making them more employable, (45.7%) strongly agreed and (47.8%) agreed to this assertion. On, if online line training has enhanced the entrepreneurship ability of the youths beyond that which had been provided by secondary and tertiary educational institutions, (52.2%) strongly agreed and (34.8%) agreed. As concerns inquiry on the three most preferred social media platform for online trading, they are, in order of preference; Instagram, WhatsApp and Facebook. It is thus affirmed that online training programmes, especially in ICT proficiency are required and necessary, so youths can acquire skills needed to start and manage business and/ or make them more employable. Also, in order to turn their hobbies into profitable ventures. Journal of Applied Economics and Business Studies, Volume. 6, Issue 3 (2022) 1-22 https://doi.org/10.34260/jaebs.631 15 Chi Square results: Chi Square was employed to investigate the hypotheses. The chi square was chosen because of its validity as the instrument to evaluate test of independence, ease of computation and the robustness of analysing results with respect to distribution of data. HYPOTHESIS I: There is no significant relationship between entrepreneurship trading via social media platforms and employment creation. The variables tested are trading via social media as the independent variable and employment creation as the dependent variable as specified in table 2. Table 5: Chi square result on Hypothesis 1 Observed Frequency Expected Frequency Error Chi-Sqr Stat. 50.0 18.4 31.6 121.69 37.7 18.4 19.3 2.6 18.4 -15.8 1.7 18.4 -16.7 0.0 18.4 -18.4 92.0 92.0 2 cal x = 121.69, 2 tab x = n-1, α 2 tab x = 92-1, 0.05, which is 91= 114.27 The result of the Chi-square test presented in table 5, depicted that the value of chi-square calculated is greater than the value of the chi-square critical value at 5% significance level. Hence, the null hypothesis is rejected. This means that entrepreneurship trading via social media platforms has a significant impact on employment creation in Nigeria. HYPOTHESIS II: Trading via social media platforms (Online trading) does not significantly increase profit and reduce cost of doing business. The variables tested are trading via social media as the independent variable and profitability and cost of doing business as dependent variable as specified in table 3 Table 6: Chi square result on Hypothesis 2 Observed Frequency Expected Frequency Error Chi-Sqr Stat. 47.6 18.4 29.2 88.92 30.8 18.4 12.4 10.4 18.4 -8.0 0.8 18.4 -17.6 2.4 18.4 -16.0 92.0 92.0 2 cal x = 88.92, 2 tab x = n-1, α 2 tab x = 92-1, 00.5, which is 91= 114.27 From the result of the Chi-square test presented in table 6. The result of the Chi-square test Egunjobi, T. Adenike 16 depicted that the value of chi-square calculated is lesser than the value of the chi-square critical value at 5% significance level. Hence, the fail to reject the null hypothesis is upheld. Thus, it is asserted that trading via social media platforms does not significantly increase profit and reduce cost of doing business in Nigeria. This is contrary to some research findings (Idota et al., 2017; Jagongo and Kinyua, (2013) and Kumai et al., (2013) which discovered the existence of a significant relationship. This could be as a result of the high cost of electricity and data in Nigeria. Summary, Conclusion and Recommendations Summary The study inspected trading entrepreneurs via social media platforms impact on employment creation in Nigeria using a statistically descriptive survey with the aid of the questionnaire and chi square tests. The study revealed that many of the respondents are females, youths below age 29, employed in internet related businesses and earning N50,000 and above as profit / net monthly income. It also discovered that social media platforms and ICT training has created many job opportunities for the youths as entrepreneurs either as employees or employers of labour (self- employment inclusive). Trading via social media platforms is not only a lucrative business but it’s also very flexible, innovative, provides greater clientage, reduces stress, overhead costs and cost of doing business, enhances visibility of the business and extends reach to customers locally and internationally. The three foremost social media platforms used for trading are Instagram, WhatsApp and Face book. Finally, the study established that there is a significant impact of entrepreneurship trading via social media platforms on employment creation in Nigeria, though social media platforms does not significantly increase profit and reduce cost of doing business in Nigeria. Conclusion Given the rising rate of unemployment in Nigeria and the aggregate time spent by youths on social media platforms coupled with the fact that the greatest choice of business investment is to invest in your passion/ hobby, there is great potentials and profit to be attained if many youths can turn the time and money used on social media platforms from tool of recreation, waste of time and human resources, perpetuating crime and gambling to a means of creating Journal of Applied Economics and Business Studies, Volume. 6, Issue 3 (2022) 1-22 https://doi.org/10.34260/jaebs.631 17 employment and wealth especially in Nigeria where this kind of business opportunities are yet to be fully exploited. In short, trading via social media platforms is an opportunity for youths to turn their hobby into employment and wealth creating profitable ventures ultimately reducing unemployment and enhancing economic development. Recommendations The study has discovered that online trading is profitable, in order to further harness these potentials there needs to be good telecommunication network and better power supply in the country and if possible at the minimum price. This is also necessary to enable youths assess the various E- learning training platforms. Government must educate and provide alternatives required to divert youths from making use of social media platforms for illegal and fraudulent practices to legal business. Such education can be achieved by organizing free seminars and workshops for youths, depicting the enormous benefits of legal business online transactions. Such alternatives can be through rendering financial and material assistance. Furthermore, government need to provide more educational opportunities more than been presently offered in terms of entrepreneurship skills, training and ICT proficiency in our institutions of learning so as to harness the enormous benefits of on- line trading in providing employment. This presupposes that much more is required from government in terms of training in ICT and development of entrepreneurship skills and this should be the collective efforts of government, private sector, voluntary and international organizations so as to get more youths involved in business. Majority of the online businesses are in the service sector, there is the need for government to create means of encouraging Nigerian produced and manufactured tangible goods online, this if developed will not only generate more employment but will open up our market potentials and the much needed foreign exchange as online business makes international trading easy, flexible and convenient. Egunjobi, T. 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