Abstract:
The main purpose of this study was to find out the various strategies for meeting challenges of young entrepreneurs in textile and clothing establishments in Lagos State. Eight research questions guided the study. The population for the study was five hundred and ninety-eight (598). Simple random sampling technique was used to select two hundred and thirty-nine (239) entrepreneurs, which were made up of young and old entrepreneurs. The instrument for data collection was the questionnaire. The following results were obtained among others: (1) young textile and clothing entrepreneurs establish the following kinds of textile and clothing establishments: bags production centres among others, (2) financial and support challenges faced by young entrepreneurs in textiles and clothing establishments in Lagos State include lack of government policies that support young entrepreneurs, especially in the payment of bills, tax and property rates, among others, (3) manpower and skill acquisition challenges faced by young textile and clothing entrepreneurs in Lagos State include lack of managerial skills among others (4) infrastructural and facility challenges faced by young entrepreneurs in textile and clothing establishments in Lagos State include the following: inadequate power supply among others (5) marketing and distribution challenges faced by young entrepreneurs in textile and clothing establishments in Lagos State include problems in developing markets among others (6) social challenges faced by young entrepreneurs in textile and clothing establishments include the following: Nigerian parents prefer their children going for a paid job than becoming self employed among other (7) influence of the various challenges on the young entrepreneurs and on their textiles and clothing establishments include the following: challenges that can affect the progress of the establishments can make young textile and clothing entrepreneurs to loss confidence in the business among other effects. (8) strategies for meeting these various challenges faced by young entrepreneurs in textiles and clothing establishments in Lagos state include the following: that government should provide financial support packages aimed at young entrepreneurs among many other strategies. Based on these findings, it was recommended among others that conferences should be organised in favour of young entrepreneurs to help individuals in the society to know that these group of individuals are needed in the society if the economy is to be moved forward.
