Financial Gap and Sustainable Government Financial Interventions to Small and Medium Scale Enterprises in Nigeria: Developing a Sustainable Framework (Published)
Citation: J. F. Adegoke , N.N. Nwankpa, L. A. Bakare, S. A. Tijani, and O. J. Zubair (2022) Financial Gap and Sustainable Government Financial Interventions to Small and Medium Scale Enterprises in Nigeria: Developing a Sustainable Framework, International Journal of Business and Management Review, Vol.10, No.1, pp.25-43
Abstract: The Nigerian government, having considered the oil price volatility and the need to address its high reliance of its budget on oil, by diversifying the economy, has embarked on a series of programmes and reforms to boost non-oil sector of the economy, most importantly, the SME subsector. Financing interventions of government would have ordinarily been a succor to change the narrative of ugly financial accessibility of SMEs, but, the level of accessibility and its relationship to SMEs have largely been understudied. Hence, this study seeks to examine the deficiencies in the government interventions to SMEs and present a workable financial intervention framework. Both primary and secondary data were used for this study. Primary data were gathered through the administration of questionnaires. Purposive sampling technique was adopted to select 100 registered SMEs in each of the six states of the Southwest Nigeria, while 100 unregistered SMEs were equally selected for inclusiveness totaling 700. The data were analyzed using both descriptive and inferential analytical methods with the aid of SPSS. The study has documented the deficiencies of the previous interventions to include poor design of the programme, favoritism in the disbursement of financing facilities, low level of awareness of the facilities, difficulty in the procedures for accessing government financing support. The study thus proposed a framework where the guarantee scheme is designed into result-based financing where the designated scheme will just give guarantee to the banks to provide loan without collateral and with reduced interest, and a first-time loan which will be jointly financed by the banks and the scheme.
Keywords: Finance, Small and Medium Sized Enterprises, Sustainability, debt structure, interventions
Sustainability Marketing and Ethical Consumption Behaviour: the Moderating Effects of Price Sensitivity among Beverage Consumers in Nigeria (Published)
The study aim was to investigate the moderation effect of price sensitivity on the relationship between equity; health; economic structure; consumption and production pattern; atmosphere; biodiversity and ethical consumption behavior. Descriptive research design was adopted. Twelve hypotheses were tested using data collected from 425 residences in Nigeria. A quota sampling technique was adopted for full coverage. Content and face validity of the scale was provided by expert opinion and discriminant validity tested. Factor analysis measured the reliability and structure equations modeling (SEM) was applied to test the hypothesized relationships and interaction of the variables with the aid of Stata 15 SEM software. Findings show that, equity, health, economic structure, consumption and production pattern, and biodiversity have significant relationship with ethical consumption behavior while atmosphere has no significant relationship with ethical consumption behavior. Price sensitivity do not have moderation effect on the relationship between equity, health, economic structure, atmosphere, and biodiversity and ethical consumption behavior but has moderation effect on the relationship between consumption and production pattern and ethical consumption behavior. We recommend that; companies should produce and package beverages with sustainable and eco-friendly materials such as paper-based container.
Keywords: Marketing, Sustainability, ethical consumption, price sensitivity
Integrated Management System Implementation in SMEs: A Proposed model for Organisational Performance and Sustainability (Published)
Management systems are important for any organization especially to small and medium enterprises (SMEs) that face limitations in areas that larger firms have stability. One of the approaches to overcome these challenges and maintain business growth is implementing and following an integrated management system (IMS), as a model for improving the organizational performance and to maintain sustainable growth in a business. SMEs are global leaders in providing employment opportunities – around 60-70 % in developed economies and 99% of all business in OECD countries, hence sustaining them and enhancing their performance in the business market over larger firms is critical to retain employment opportunities in the future. IMS provides internal and external benefits, especially being more feasible and appropriate for SMEs by increasing competitiveness, stability in business, effective resources management and resilience during market challenges. However, it’s important to focus on the specific characteristics and factors that determine SMEs effective implementation of IMS. To overcome the various barriers limiting their business growth and organizational performance, the proposed conceptional model developed through this research study in conjunction with the associated factors would enable SMEs to effectively implement IMS to achieve organizational performance and sustainability. SMEs in order to maintain a competitive nature in the emerging business markets must adopt different strategies and mechanisms to address the challenges in technology and innovation, which are the prime impacting factors that define a clear road map for sustainable growth.
Keywords: Integrated, Organisation, Performance, SMEs, Sustainability, management system
Contribution of Green Orientation for the Organizational Performance: A Review of Stakeholder Relationships and Ecological Modernization Perspectives on Sustainability (Published)
Despite the fact that sustainability has become ever more important for business organizations today, sustainability initiatives in the social, environmental, and economic perspectives are still not properly integrated with each other or funneled down into the organizational level. Strategic green orientation (SGO) is derived from market orientation to adequately integrate the social, economic, and environmental perspectives as a new paradigm for the implementation of sustainable development principles at the business organizational level. This article attempts to explore the theoretical basis of SGO. This review builds on the stakeholder and ecological modernization theories to investigate the critical determinants of SGO and how it integrates the three different perspectives of sustainability to convert them for superior performance. Based on theoretical foundations, this article explores a causal relationship between SGO and organizational performance that may stimulate further research and direct actions by decision makers and managers on sustainability perspectives in different industries such as tourism.
Keywords: Business Organizations, Ecological Modernization Theory, Stakeholder Theory, Strategic Green Orientation, Sustainability
FINANCIAL SUSTAINABILITY PRACTICES AND OUTCOMES IN KENYA’S NON-GOVERNMENTAL ORGANIZATIONS: DEVELOPMENT ASSISTANCE DIPLOMATS AND ANGELS OF MERCY PARADOX (Published)
Non-Governmental Organizations (NGOs) play a major role in improving the living standards of families’ households, groups and individuals in any country especially in Kenya and yet its downplayed therefore, this paper posits that through financing There has been a significant increase in activities from Non-Governmental Organizations NGOs) with regards to funding of various projects as a practice (Adera, 2012). This paper seeks to posit financial sustainability practices and outcomes in Kenya’s Non-governmental organizations in a quest to deepening and creating an in-depth knowledge on some of these practices and their outcomes initiated or funded by non-governmental organizations to creating financial sustainability. The objectives of the article are three fold: to identify financial sustainability practices such as surplus, cash available to pay bills, credit facilities and community participation, to evaluate on the role of funding policies for financial sustainability of non-governmental organizations and finally to explore any inherent paradox on non-governmental financial sustainability principles and outcomes. The hypotheses were developed and tested using data collected using survey of the four regions selected in Kenya. Stratified random sampling technique was used to pick 110 managers in the region. Data was collected using self-administered structured questionnaires to the respondents. Pearson correlation and multiple regression models were used in the analysis to assess the financial sustainability. Financing policies was positively correlated to financial sustainability beta coefficient 0.296, ρ<0.05 does affect financial sustainability. level of access to donor funds was positively correlated to financial sustainability (Pearson correlation=0.468, p value=0.000) financing policies was 0.249 with p value 0.000<0.05 significance level, thus the study provide precursory evidence to reject null hypotheses that donor financing policies had no significance effect on financial sustainability of the project and infer that donor financing policies positively affect financial sustainability, thus enhancing financial policies will improve the financial sustainability of a project. The study is intended to strike a realistic approach of donor implementers and various governments on development assistance and allocative performance in creating financial sustainability and improving non-governmental organization performance which normally trickles down on citizen’s sustainability
Keywords: Financial Sustainability, Funding Policies and Donor Funding Policies, Sustainability