Government Policies and Business Failure Amongst Small and Medium Enterprises (SMEs) in Abuja Metropolis (Published)
This study examines the impact of government policies on business failure among SMEs in Abuja metropolis. The research aims to explore how government policies influence access to credit, labour market regulations, and business survival rates among SMEs. The study employed a descriptive analysis, utilising data collected from SMEs through questionnaires. A total of 336 questionnaires were distributed, and 327 were retrieved, yielding a response rate of approximately 97.3%. The findings of the study reveal significant positive relationships between government policies and the three examined variables. Specifically, the analysis indicates that supportive government policies significantly enhance access to credit, positively influence labour market regulations, and improve business survival rates among SMEs. These results highlight the critical role of government interventions in facilitating the growth, efficiency, and sustainability of SMEs in Abuja metropolis. The study concludes that effective government policies are essential for the success of SMEs and recommends continuous refinement of these policies to support SME development. Further research is suggested to explore additional factors influencing SME performance and the broader economic impact of government policies on the SME sector.
Keywords: Government Policies, Small and Medium Enterprises, business failure
A Study on the Influencing Factors of E-Commerce Adoption Among Small Medium Enterprises in Democratic Republic of the Congo (Published)
The purpose of this study is to explore the challenges or barriers to e-commerce adoption among SMEs in Democratic Republic of the Congo beyond the specific content covered in such interventions, and how infrastructural development might moderate those effects. The study also not only discusses that e-commerce adoption is imperative for the overall performance of SMEs, but also talks about how to mitigate the challenges. Qualitative as well as quantitative research methodology has been adopted in this study. A semi structured interview was conducted for getting an insight about e-commerce adoption. The researchers have found from the survey that there are different factors that affect the adoption of e-commerce which can be classified into three broad categories; technological, organizational and environmental factors. Although technological barriers are important challenges for e-commerce adoption in developing countries like DRC, but the importance of other barriers cannot be discriminated. Results of testing the model discovered two important findings: first, technological barriers, organizational barriers and environmental barriers have a direct negative relationship with e-commerce adoption. The results further show that technological barrier is the most determinant factor of e-commerce adoption followed by environmental and organizational factors respectively. Second, the moderating effects of infrastructural development was tested, which showed that the barriers have a more negative effect on e-commerce adoption for SMEs utilizing rural infrastructure than for urban SMEs.
Keywords: Small and Medium Enterprises, e-commerce adoption, environmental barriers, organizational barriers, technological barriers
Improving Employee Innovation Performance of SMEs Through Human Resource Management Practices: A Moderated Mediation Model (Published)
This paper proposes a theoretical model that analyzes the link between Human Resource Management practices (HRMPs) and employee innovation performance (EIP), the mediating role of entrepreneurial orientation (EO) and the moderating effect of organizational learning capability (OLC). A study was conducted using a cross-sectional approach in Sokoto, Nigeria, gathering data from sachet table water enterprises. Participants were selected through convenience sampling and questionnaires were personally administered. Hypotheses were tested using Partial Least Squares—Structural Equation Modelling (PLS-SEM). The findings suggest that EO mediates the relationship between HRMPs and EIP, while OLC moderates it. All six hypotheses were supported.This study adds to the current understanding of HRMPs by exploring the mediating role of EO and the moderating effect of OLC on enhancing and strengthening the same relationship
Keywords: Entrepreneurial Orientation, Human Resource Management Practices, Small and Medium Enterprises, employee innovation performance., organizational learning capability
The Influence of Financial Monitoring on Performance of Small and Medium Enterprises in Tanzania: A Case of Arusha City Council (Published)
The study examined the influence of financial monitoring on the performance of SMEs in Tanzania. The study was guided by resource- based theory. Cross-sectional research design and quantitative research approach were used in the study. Structured questionnaire was used to collect data from a sample of 204 SMEs in Arusha City Council. The regression analysis of data established that, financial monitoring in SMEs results in significant increase in sales revenue, profits, product lines and number of customers. The findings provide an indication that, financial monitoring is critical in ensuring positive performance of small and medium enterprises. Hence, owner-managers should capitalize in managing business finances and make close monitoring on all financial matters for the improved performance of their ventures. Similarly, the policy makers and training institutions need to have a well- established framework to assist SMEs on matters related financial monitoring and provide relevant trainings on key features of financial monitoring for improved performance of SMEs.
Keywords: Performance, Small and Medium Enterprises, financial monitoring
Environmental Turbulence and Strategic Flexibility of Small and Medium Enterprises in Port Harcourt, Nigeria (Published)
This paper examined the relationship between environmental turbulence and strategic flexibility of SMEs in Port Harcourt. Primary data was generated through structured questionnaire. The accessible population was (50) registered small and medium enterprises as listed in SMEDAN and National Bureau of Statistics Collaborative Survey. The entire population of 50 SMEs in Port Harcourt was adopted as a census. The reliability of the instrument was achieved by the use of the Cronbach Alpha coefficient with all the items scoring above 0.70. The hypotheses were tested using the Spearman’s Rank Order Correlation coefficient. The tests were carried out at a 0.05 significance level. Findings from the study revealed that there is a significant relationship between environmental turbulence and strategic flexibility of SMEs in Port Harcourt. The specific findings revealed that there is a significant relationship between environmental turbulence and production flexibility, marketing flexibility and HR flexibility of SMEs in Port Harcourt. The study concludes that in the unpredictable and competitive world, organizations must have dynamic capabilities one of which is strategic flexibility to compete otherwise, they will move towards annihilation. Strategic flexibility provides the organization with the possibility of quick response and compatibility with the environment hence, allowing the organization to improve its efficiency. The study recommends that SMEs should develop strategic flexibility by deliberately and strategically crafting organizational capability, providing timely response and adapting to environmental changes that would meaningfully impact on organizational performance.
Keywords: Small and Medium Enterprises, environmental turbulence, strategic flexibility
An Evaluation of the Impact of Small and Medium Enterprises (SMES) Development on Economic Growth in Nigeria (Published)
This study evaluated the impact of small and medium enterprises development on economic growth in Nigeria. The study used aggregate asset base and aggregate capitalization of SMEs as the independent variables, while gross domestic product (proxy for economic growth) was adopted as the dependent variable. Secondary time series data were collected from the Central Bank of Nigeria Statistical Bulletin 2018, National Bureau of Statistics 2018, and National Survey of Micro Small and Medium Enterprises (MSMEs) 2013 & 2017 conducted by the Small & Medium Enterprise Development Agency of Nigeria (SMEDAN) for the period 2000 to 2018. Descriptive statistics and multiple regression analysis based on the OLS technique (with the aid of SPSS version 19) were employed as methods for data analysis. The findings show that the aggregate asset base and aggregate capitalization of SMEs have little or no significant effect on the GDP. It was also discovered that there exists a long-run relationship among the variables even though the overall regression model was not statistically significant at 5%. It was recommended amongst others that more efforts should be put in place by Government to gather enough information on SMEs through the responsible. The Federal and /State Ministries of Industry in collaboration with SMEDAN should work out strategies for reporting the operations of SMEs in Nigeria, highlighting the asset base and aggregate capitalization of the sector and put in places policies to resuscitate the sector.
Keywords: Capitalization, Small and Medium Enterprises, asset base, economic growth
An Appraisal of Nigeria’s Micro, Small and Medium Enterprises (MSMES): Growth, Challenges and Prospects (Published)
This paper took a critical appraisal of the Micro, Small and Medium Enterprises (MSMEs) in Nigeria. The major focus of this work was to expatiate on the growth, challenges and prospects of the MSMEs in the country. While attempting to give an appropriate definition for Micro, Small and Medium Enterprises using employment strength and asset base criteria, the work revealed that SMEs contribute significantly to economic development in the provision of goods and services, creation of employment and contribute to a high standard of living. There are some setbacks facing the over 17,284,671 Micro, Small and Medium Enterprises in Nigeria. These setbacks include; limited financing, lack of action plan to deal with eventualities, lack of managerial and marketing skill, and lack of research appreciation and technical expertise. The study concluded that entrepreneurship is regarded as the catalyst in most developing economies and that it is very crucial to the economic growth and development of Nigeria. As such, it was recommended that government policies should support the establishment, nurturing and growth of SMEs by curtailing or banning importation of certain products, training of young entrepreneurs, establishment of Centers for Entrepreneurial Development and promoting entrepreneurial spirit through the provision of conducive entrepreneurial environment, funding and empowerment programmes. This will facilitate the training and retraining of entrepreneurs and also help Nigerian youths to develop interest in entrepreneurship.
Keywords: Economic Development, Micro, Nigeria, Small and Medium Enterprises, Technical Expertise
Financing Constraints of Small and Medium Enterprises in South-Western Nigeria (Published)
This study focused on the investigation of the financing constraints of small and medium enterprises in South- Western Nigeria. The study determined how high bank changes, high legal documentation fees and collateral securities are related to financing constraints for small and medium enterprises in south- western Nigeria. The study was carried out using a quantities methodology through administration of a structured questionnaire. The data gathered was analyzed using descriptive and inferential statistics such as percentages, correlation analysis and multiple regression, with the aid of statistical package for social science (SPSS) version 20 with a cut off set a p= 0.05 level of significance. The study was conducted in six states of south – west Nigeria that is Lagos, Ogun, Oyo, Osun, Ondo and Ekiti. The result show that high bank charges constitute financing constraint since p-value is < 0.05; there is no significance evidence to conduct that high legal documentation fees is a constraint to financing small and medium enterprises since p-value is > 0.05 and there is positive but weak relationship between collateral securities and financial constraint of small and medium enterprises in south-west Nigeria. This study has contributed to literature on financing constraints of small and medium enterprises
Keywords: Financing, Financing Constraints, Small and Medium Enterprises
The Role of Legal/Regulatory Framework of the Ghana Public Procurement Policy on SME Participation in Public Procurement (Published)
Access to public procurement contracts is a challenge for most Small and Medium Enterprises. While most of these challenges are either inherent in the very nature of SMEs or the business environment, there is however a major challenge inherent in government policies which is often ignored, and this is the focus of this study. The study thus seeks to identify the inadequacies in the Public Procurement Act of Ghana that inhibit SME access to public procurement contracts and how supportive legal framework could improve SME access to public procurement opportunities. The researcher used a combination of exploratory and descriptive research approaches and the sample comprised of one hundred and twenty (120) SMEs, purposively sampled for their eligibility to participate in public procurement processes and thirty (30) randomly selected public sector institutions. Primary data was collected through the administration of survey questionnaires, and the data collected was analyzed both quantitatively qualitatively. A major finding is that while the intent of the Ghana Act (Act 663) section 2(t) is to promote local businesses, the provision is administratively disproportionate as it does not take the peculiar characteristics of size, capacity, experience, and financial resources of the SMEs into consideration and so does not provide a level playing field for the different categories of local businesses. It can be concluded that limitations in the procurement and regulatory framework in terms of disproportionate application of requirements affect SME participation and success in winning public procurement contracts and that governments can influence the nature and pace of SME growth through the differential impact of government legislation on firms of different sizes.
Keywords: Legal and Regulatory Framework, Public Procurement, Small and Medium Enterprises
An Appraisal of Nigeria’s Micro, Small and Medium Enterprises (MSMES): Growth, Challenges and Prospects. (Published)
This paper took a critical appraisal of the Micro, Small and Medium Enterprises (MSMEs) in Nigeria. The major focus of this work was to expatiate on the growth, challenges and prospects of the MSMEs in the country. While attempting to give an appropriate definition for Micro, Small and Medium Enterprises using employment strength and asset base criteria, the work revealed that SMEs contribute significantly to economic development in the provision of goods and services, creation of employment and contribute to a high standard of living. There are some setbacks facing the over 17,284,671 Micro, Small and Medium Enterprises in Nigeria. These setbacks include; limited financing, lack of action plan to deal with eventualities, lack of managerial and marketing skill, and lack of research appreciation and technical expertise. The study concluded that entrepreneurship is regarded as the catalyst in most developing economies and that it is very crucial to the economic growth and development of Nigeria. As such, it was recommended that government policies should support the establishment, nurturing and growth of SMEs by curtailing or banning importation of certain products, training of young entrepreneurs, establishment of Centers for Entrepreneurial Development and promoting entrepreneurial spirit through the provision of conducive entrepreneurial environment, funding and empowerment programmes. This will facilitate the training and retraining of entrepreneurs and also help Nigerian youths to develop interest in entrepreneurship.
Keywords: Economic Development, Micro, Nigeria, Small and Medium Enterprises, Technical Expertise