Implications of Small and Medium Enterprises on South East Development in Nigeria (Published)
There has been a growing concern on the relationship between the output of small and medium enterprises and Igbo development in Nigeria, despite the fact that the South East government had embarked on several policies aimed at improving the growth of Nigerian economy through the contribution of small and medium enterprises output. The aim of this study is to empirically examine the relationship between small and medium enterprises output and Igbo development in South Eastern part of Nigeria. Empirical evidence from the developed and developing economies has shown that small and medium enterprises have the capacity to influence the entire socio economic development in Igbo land if it is well managed. Quantitative research design and multiple regressions were used to carry out this study. The results of the study indicates that small and medium enterprises contribute significantly to the development of Igbo land based on the magnitude and the level of significance of the coefficient and p-value. And there is significant and positive relationship between Igbo development and small and medium enterprises output. The implication of this findings is that if small and medium enterprises does not increase the size of their employment generation in Igbo land, the development of Igbo’s through small and medium enterprises will not contribute meaningfully to the growth of Nigerian economy. It is the recommendation of this study that the operators of small and medium enterprises in South East (Igbo Land) Nigeria should make maintain their level of social corporate responsibility. That there is also need to strengthen policies that will enhance rapid growth and development in Igbo land through small and medium enterprises in Nigeria
Keywords: Igbo Development, Output, SMEs, South-East, economic growth
EXAMINING THE ROLE OF EXTERNAL BUSINESS FACTORS IN INTERNATIONALIZATION OF MANUFACTURING SMES – CASE OF CROATIA (Published)
Internationalization represents an expansion of economic activity beyond the boundaries of domicile economy and includes export and import activities. Because it allows lowering costs by accessing a new suppliers or increase revenues by accessing new markets, it represents an opportunity for gaining competitive advantage for small and medium enterprises on both domestic and foreign markets. This paper empirically analysis effects of external business factors: location, availability of financing, competition and cooperation, on internationalization of SMEs in case of both export and import activities. Results from this research should help governments in determining key areas and measures for successful internationalization of manufacturing SMEs.
Keywords: Croatia, External Business Factors, Internationalization, SMEs, Strategy
GREEN PROCUREMENT STRATEGIES AS DETERMINANTS OF FINANCIAL PERFORMANCE: EVIDENCE FROM SMALL AND MEDIUM ENTERPRISES IN UASIN-GISHU COUNTY, KENYA (Published)
Owing to strong influence on economic and social issues, environmental impact attributed by SMEs activities is significant, not only for their magnitude but also in diversity. However SMEs are often unaware of their environmental impact and lack the resources to implement environmental initiatives and since their environmental footprints are small and localized they easily go unnoticed. Nevertheless the cumulative environmental impacts of countless SMEs constitute major environmental challenges to both regulators and stakeholders. Environmental issues is now considered strategic and there has been debate all over the world concerning environmental issues (Green procurement).Many SMEs are reluctant to adopt green procurement strategies until they find financial benefit for themselves. Thus the general objective of the study was to determine if green procurement strategies had an effect on SMEs financial performance. The specific objectives were to determine the extent to which recycling of waste, use of non pollutants, waste management and use of energy saving products determined SMEs financial performance in Eldoret town, Kenya. The study area was Eldoret town, Kenya and the research design adopted was explanatory research design (bivariate analysis) because it compares two variables, the dependent variable being financial performance and independent variable is green procurement strategy. The research used stratified and simple random sampling and Hotels, restaurants, bars and supermarkets were the study units. There are more than 8175 SMEs in Eldoret town and the researcher used stratified sampling and targeted 80 respondents in supermarkets and 197 respondents in hotels/restaurant/bars. Data collection instruments used was five point likert scale questionnaire and structured interview. Data analysis used was descriptive statistics, explanatory factor analysis, Pearson Moment correlation and regression model analysis. Data was presented using tables, figures and in prose form. The study showed that there is a relationship between green procurement strategies adopted by SMEs on their financial performance and it found that most SME’s in Eldoret have an understanding of what green products are, recycling of wastes, what pollution is and what needs to be done to curb pollution and lastly about waste management and the need to use energy saving products to reduce on the cost of energy. From multiple regression tests the study findings; r=0.509 and r2=0.740, which shows that 74% of the growth of financial performance can be explained by the adoption of green procurement. The findings show that the null hypotheses were rejected in each hypothesis and thus there was a relationship. The study recommends that an awareness programme should be organized in schools, offices, through multimedia houses to educate the masses on the need to recycle waste and thus save on their costs and as a way to generate income. The study further recommends that SMEs require greater access to financial services and investment capital. The study will be useful to various stakeholders such as the government, policy makers and purchasing managers who will benefit on knowing that green procurement strategy is an important aspect in any organizations and it can impact environmental and financial performance of SMEs as well as all organizations.
Keywords: Energy saving products, Financial Performance, Non-Pollutants, Recycling of Waste, SMEs, Waste Management
FUEL PRICE ADJUSTMENTS AND GROWTH OF SMES IN THE NEW JUABEN MUNICIPALITY, GHANA (Published)
Fuel as a major energy consumed has its price been unpredictable. Due to this unpredictability, policy makers always try to adjust its price to meet the prevailing world market prices. This study sought to evaluate fuel price adjustments and growth of SMEs in the New Juaben Municipality of Ghana. The specific objectives were to: find out whether fuel price adjustment affects SMEs negatively or positively, and explain the effect of fuel price adjustment on employment, turnover and output of SMEs in the New Juaben Municipality. This study was a social survey with a sample size of 204 and a purposive sampling was used to illicit information from respondents in which quantitative and qualitative analysis were undertaken. The results of the study showed that, increases in fuel price due fuel price adjustment result in increases in transportation costs, raw material costs, capital costs and other costs but have a negative relationship with consumer real income. In addition, increases in fuel price constrained the growth of SMEs. The study recommended that, government should take steps to subsidize the fuel costs of SMEs to enhance their growth which could lead to increase in employment. SMEs should be provided with managerial training to enhance their understanding of their activities
Keywords: Fuel Price Adjustments, Ghana, Growth, New Juaben Municipality, SMEs
ANALYSIS OF PRODUCTIVITY, PROFITABILITY, INCOMES AND RETURN ON INVESTMENTS IN YOUTH SMES IN NIGER DELTA, NIGERIA (Published)
The objective of this study was to identify profitable and viable SMEs which could form a basis for an economic empowerment programme for the restive unemployed youths in the Niger Delta Region. The focus of the study is on SMEs which are registered with the co-ordinating agency of government and are therefore considered bankable by financial institutions. A survey of SMEs was conducted in four major urban centres of Aba in Abia State, Uyo in Akwa Ibom State, Benin in Edo State and Port Harcourt in Rivers State and their environs. The cities were purposively selected because they are known centres of economic activities around which industrial establishments and SMEs cluster in the region. The SMEs were registered by government agencies, under eleven categories, with unequal number of enterprises. One hundred enterprises were purposively selected in each of the four centres, for a total of four hundred, ensuring that all enterprise types, in each category, were represented. Applying the simple analytical tools of total factor productivity, net income (NI) and rate of return on total investment (RRTI), the ten most viable SMEs were identified for the states as follows: Abia; metal fabrication, garments, interlocking tiles, concrete electric poles, printing works, saw mills, metal construction, paints, air conditioner and refrigerator repairs and restaurant; Akwa Ibom, paints, oil palm processing, garment/fashion, furniture works, leather bags, bakery and confectionery, metal construction, electronic repairs, brick making and wood arts. Edo, Auto electric, air conditioner and refrigeration, fish production, candle production, oil palm processing, auto mechanics, wood arts, metal works, poultry production and garment/fashion. Rivers: Hair dressing, fish production, metal works, oil palm processing, foot wears, aluminum and glass fabrication, cassava processing, air conditioner and refrigeration, block moulding, restaurant.
Keywords: Niger-Delta, Productivity, Profitability, Rate of Return, SMEs, Youths
Bundle Pricing Strategy and Performance of Small and Medium Enterprises in Kenya (Review Completed - Accepted)
The main objective of this study was to determine the relationship between bundle pricing strategy and the performance of the SMEs, Kenya. The researcher found out that there was positive correlation between bundle pricing and performance. The researcher therefore concluded that the company should focus its efforts on bundle pricing strategy because there is some level of effect of the pricing strategy on the number of customers, customer loyalty and quality of food and service. The researcher recommended that the company managers should be educated more on the bundle pricing strategy emphasizing on how it is used and its benefits
Keywords: : Enterprises, Performance, SMEs, bundle pricing strategy