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