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1
Igudia, Patrick Ohunmah. "A Qualitative Evaluation of the Factors Influencing the Adoption of Electronic Payment Systems (SMEs) by SMEs in Nigeria." European Scientific Journal, ESJ 13, no. 31 (November 30, 2017): 472. http://dx.doi.org/10.19044/esj.2017.v13n31p472.
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No nation can compete in a global market without developing a versatile and veritable platform for competition especially in trade and commerce through electronic business (e-business) and electronic commerce (e-commerce). Not too long ago, the Nigerian government enacted a visionary policy code-named PSV20:2020 targeted at adopting information and communication technology (ICT) for proper management of the Nigerian economy as part of its effort to become a member of the twenty most economically developed countries in the world by the year 2020. To achieve this, the Nigerian government created the policy of a cashless economy in which all payments for goods and services especially in government businesses have to be done electronically. To make this policy work particularly among the small and medium enterprises (SMEs) in Nigeria, this study examines those factors that influence the adoption and use of electronic payment systems (EPS). A qualitative analytical approach has been adopted in this study. 4 Small and Medium Enterprise owners/managers and 2 officials of two different Banks – the Central Bank of Nigeria (CBN) and United Bank for Africa (UBA) – were interviewed. Data collected from the interview were processed and analysed. Few recommendations were made.
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Ejiogu, Amanze, Obiora Okechukwu, and Chibuzo Ejiogu. "Nigerian budgetary response to the COVID-19 pandemic and its shrinking fiscal space: financial sustainability, employment, social inequality and business implications." Journal of Public Budgeting, Accounting & Financial Management 32, no. 5 (September 15, 2020): 919–28. http://dx.doi.org/10.1108/jpbafm-07-2020-0101.
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PurposeThis article aims to explore the Nigerian government's budgetary response to the COVID-19 pandemic as well as the economic and social implications of the pandemic response.Design/methodology/approachOur analysis is based on a review of secondary evidence such as Nigerian Federal Government budget documents, policy documents, Central Bank of Nigeria circulars, news media articles, World Bank and International Monetary Fund reports, reports from Big Four accounting firms and policy think-tanks.FindingsThe authors highlight how increased borrowing to fund COVID-19 related economic and social interventions have significantly squeezed Nigeria's fiscal space. The authors also highlight that while some interventions provide short-term economic relief to the poor and small businesses, other interventions and gaps in the policy response have the potential for significant negative impact on businesses, households and unemployment. In addition, the authors highlight the potential for long-term benefits to the health sector and for private sector engagement in corporate responsibility and philanthropy.Originality/valueThe authors present a comprehensive account of the Nigerian government's budgetary response to the COVID 19 pandemic and the economic and social implications of this response.
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Edoko, Tonna, D., Chigbo D. Ngige, and Ikechukwu M. Okoli. "Government Antipoverty Programmes and Small and Medium Enterprises Performance in Nigeria." European Scientific Journal, ESJ 13, no. 19 (July 31, 2017): 371. http://dx.doi.org/10.19044/esj.2017.v13n19p371.
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Over the years the Nigerian government has come up with a number of antipoverty programmes aimed at fighting poverty by financing her growth induced sector- SMEs, yet, the country is still witnessing rising levels of poverty, corruption, unemployment, low human capital development, inadequate commercial bank credit, high lending rate and low standard of education, thus, affecting the performance of small scale enterprises. In other to address the conundrum, this study examines the effect of government antipoverty programmes on small and medium enterprises’ performance in Nigeria using econometric regression model of the Ordinary Least Square (OLS). From the regression analysis, the result showed that government antipoverty programmes, corruption, unemployment, human capital development, capital, lending rate and education conformed to the a priori expectations of the study and were statistically significant in explaining the SMEs’ performance in Nigeria. The study recommends that: In order to enhance the success of government antipoverty programmes in Nigeria, the programme should be implemented through the local government on the platform of cooperative societies so that the target population will benefit from it. A blueprint for handling corrupt officials should be embedded in the policy framework of the programme before implementation. The programme should be targeted at unemployed youths with real identity rather than sinking back the funds into the pockets of corrupt officials. Every intending beneficiary should be subjected to training/skill acquisition programme and occasional workshop in the line of trade he/she wants to venture into. Adequate funding at a good lending rate should be provided for any beneficiary of the programme in order to enhance the performance of the business in Nigeria.
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Adeola, Ogechi, and Kennedy Ezenwafor. "The hospitality business in Nigeria: issues, challenges and opportunities." Worldwide Hospitality and Tourism Themes 8, no. 2 (April 11, 2016): 182–94. http://dx.doi.org/10.1108/whatt-11-2015-0053.
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Purpose This paper aims to advance cooperation and collaboration as solutions to problems in the Nigerian hospitality industry. The issues and challenges plaguing the hospitality industry in Nigeria are discussed in the context of the case company, a small independent restaurant in Lagos. Design/methodology/approach Phenomenological research strategies guided the approach to this study. The authors identified a specific problem and gathered information, primarily through one-on-one interviews and a focus group, to learn how individuals within a defined industry experienced the ramifications of the phenomenon. Findings The operating environment of the hospitality sector in Nigeria has an effect on the supply of skills and the financial performance of the case restaurant and similar hospitality businesses. To improve overall performance of the industry, private-public partnerships between government agencies, hospitality colleges and hospitality businesses, strategic partnerships between expert hospitality institutions and business schools, cooperation among hospitality business owners and improvement in managerial practices could be strategic moves for an industry operating under heavy institutional hindrances peculiar to Nigeria. Research limitations/implications The authors analysed the environmental trickle-down effect that could impact the profits of the restaurant. Organisational qualities such as leadership styles, the psychology of employment and the operations or policies of the company are not viewed in this context. The issues of the restaurant and a few hospitality businesses in Lagos were flagged as a representation for the industry in Nigeria. Practical implications Predisposing factors contributing to the attributed negative trickle-down effect on the enabling business environment for the industry, strategic partnerships, attaining high standards for curriculum development at educational institutions and enhanced training, with the goal of assuring creditable skills within the hospitality industry. Originality/value This paper is among the first to examine the critical issues, challenges and opportunities facing the hospitality industry in Nigeria.
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Abiodun, Eniola Anthony, and Entebang Harry. "Performance of sme firm in nigeria: malaysia experience." Journal of Management and Science 6, no. 1 (June 30, 2016): 113–34. http://dx.doi.org/10.26524/jms.2016.11.
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Malaysia and Nigeria fall within the paradigm of developing countries seeking greater economic competitiveness in a global business environment. Both have developed policy framework and implemented strategic plans for the development of small and medium scale enterprises (SMEs) as an indispensable part of economic growth, employment creation and economic transformation towards evolving into an advanced nation by the year 2020.Malaysia through SME has moved from efficiency-driven to innovation-driven economy through effective mechanisms. While Nigeria SMEs is still facing tremendous challenges andthreats in achieving economic transformation, despite the strategic policies, institutional framework sets as a priority by the Nigerian Government in ensuring SMEs performance This paper focuses on how Nigeria can learn from Malaysia experience in enhancing SMEs growth for economic transformation and government support through the blend of technology expertise and entrepreneurial skills. This is essentially a general review paper using a descriptive method for the assessment of the Government’s support to SMEs performance focusing on sources of financing and technological programs that have been put through for economic transformation. Following assessment, Malaysia duplications of SME success can be sought from Nigeria in achieving his economic blueprints of vision 20: 2020. This will be proposed as a guide for policy makers in Nigeria and for the people in helping and encouraging SMEs and youths by creating enabling and conducive environment to execute.
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Abass, Salimat M. "Women Entrepreneurship Determinants in Nigeria." Journal of Business and Economics 10, no. 4 (April 20, 2019): 356–67. http://dx.doi.org/10.15341/jbe(2155-7950)/04.10.2019/008.
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Women entrepreneurs have attracted the attention of organizations, policy makers and researchers as they have been identified as an important unexploited source of economic growth and development. The objective of this research is to contribute knowledge about women entrepreneurship in Nigeria and their motivations for entrepreneurship especially on MSMEs level. An empirical survey was conducted with cross-sectional data collected via questionnaire from 422 selected women respondents in six states each representing a geo-political zone in Nigeria using stratified sampling technique. Respondents are engaged in micro, small or medium enterprises in Nigeria. The study results provide strong determinant of women entrepreneurship in Nigeria. The Structural Equation Model (SEM) was employed as tools for testing hypotheses using SmartPLS 2. Findings revealed that the determinant of women entrepreneurship varies by life experiences and country. The study further discovered that a lot of women were motivated by the need for survival, family traits, education and skills, independence and need for achievement respectively in Nigeria. The study recommended that the Nigerian government should encourage women more in entrepreneurial activities and provide sound conducive business environment for women through provision of infrastructural facilities such as entrepreneurial training and skills, finance, infrastructures and credit facilities that will enhance women’s participation more in business.
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Kayode, Ogunyemi Joseph, Mufutau Akanmu Popoola, and Adewole Joseph Adeyinka. "Credit Risk Management and Entrepreneurship Development in Nigeria: A Case Study of Small and Medium Scale Industries in Ondo State." International Journal of Small and Medium Enterprises 3, no. 1 (March 12, 2020): 18–33. http://dx.doi.org/10.46281/ijsmes.v3i1.512.
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The paper summarizes the arguments and counterarguments within the scientific discussion on credit risk management and entrepreneurship development in Nigeria with focus on small and medium scale industries in Ondo State. The objective of the study is to examine the effect of credit risk management on entrepreneurship development. The study adopted the use of descriptive statistics and regression analysis method to test the hypothesis formulated. The results indicated that entrepreneurship development is being hampered by ineffective credit risk management. The findings has shown that Small Scale Enterprise still suffers greatly from inadequate policy on fund raising, lack of risk management personnel, lack of credit advisory unit in loan houses and Inability to determine appropriate source of funding which significantly affects their level of development. The findings of this study have also found out that the Nigerian markets are filled with numerous business opportunities. Based on the findings, it was recommended that increased government support, uninterrupted power supply and communication link, provision of skilled manpower and computer wizard in operation of payment system, collaboration among banks, provision of adequate security and fight against corruption would assists and improve the growth and development of entrepreneurship in Nigeria.
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Usman, Baba Isah, Zubairu Umaru Mustapha, Mohammed Dokochi, Jaafar Umar, and Faiza Maitala. "Investigating the Impact of Entrepreneurial Infrastructure Deficit on Firm Growth." IJEBD (International Journal Of Entrepreneurship And Business Development) 3, no. 1 (September 30, 2019): 13–24. http://dx.doi.org/10.29138/ijebd.v3i1.771.
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Small and medium enterprises (SMEs) in Nigeria are suffering from a deplorable condition of entrepreneurial infrastructure (EI) which is evidenced in the myriad of challenges bedevilling their growth and development. This study therefore aims to investigate the impact of EI deficit on firm growth, focusing on the growth of SMEs in Nigeria. This was done through a critical review of extant literature (peer reviewed journal articles) on EI which were obtained from reputable data bases and broken down into two basic components of infrastructure (physical and non-physical infrastructure). Empirical findings revealed that the availability of physical infrastructure (constant water supply and good road infrastructure) and the non-physical infrastructure (electricity, government policies/programmes, access to financial support services, incubation centers/platforms, business clusters and entrepreneurship training) improves productivity, profitability, sales, number of customers and consistent growth rate of SMEs. Findings of this study would be of help to entrepreneurs, policy makers and the academic community as it will add to the existing literature on how availability of EI impacts the growth of SMEs. The study recommends that government should use fiscal policies to address the economic challenges of SMEs and also invest in the provision of EI facilities to facilitate the growth and development of SMEs in Nigeria.
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Okoli, Ifeanyi E. Nuel, Kanayo Chike Nwosu, and Miracle Ejike Okechukwu. "Entrepreneurial Orientation and Performance of Selected SMEs in Southeast, Nigeria." European Journal of Business and Management Research 6, no. 4 (July 15, 2021): 108–15. http://dx.doi.org/10.24018/ejbmr.2021.6.4.946.
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This study examines the effect of entrepreneurial orientation on performance of selected small and medium scale enterprises (SMEs) in Southeast Nigeria. The problems that led to this study include, inadequate access to finance, poor infrastructure, inconsistency with government policy, poor support (business development work), inadequate sales, too many taxes and obsolete technologies leading to massive failures. It has not been found that the epileptic growth of SMEs in Southeast Nigeria is not only due to the problems but also from the entrepreneurial orientation. The survey research method was employed in this study and the study relied on secondary and primary data. The population of this study was drawn from SMEs in the five states in the Southeast Nigeria. The study was done using three hundred and sixty six small and medium enterprises (SMEs). Complete enumeration was adopted. Simple regression analysis was used to analysis the hypotheses. The study revealed that there is a significant positive relationship between pro-activeness, innovativeness and risk taking on performance of SMEs in Southeast Nigeria. The study concluded that entrepreneurial-oriented firms tend to lead the industry with innovations, performing things in a better approach to satisfy customers and give the firm a better leverage. The study recommends that SMEs owners and managers should be committed to process and radical innovation in their dealings so as to increase and expand their customer base.
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Mbah, Stella, and Jeffery Obiezekwem. "Electronic Banking and Performance of Small and Medium Scale Enterprises in Anambra State, Nigeria." International Journal of Business and Management 14, no. 6 (May 20, 2019): 173. http://dx.doi.org/10.5539/ijbm.v14n6p173.
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This study aims to identify the relationship between electronic banking and performance of small and medium scale enterprises in Anambra state; one of the states with the highest number of SMEs, entrepreneurial skills, informal enterprises and a suitable business environment in Nigeria. To achieve this, the researcher examined performance of SMEs and their association with components of electronic banking; automated teller machine, point of sale services, transaction alerts via short message services (SMS) and mobile banking, through a questionnaire. Three hundred and seventy (73.1% response rate) copies of questionnaire issued to five hundred and six sampled respondents of 50 SMEs in Anambra state were properly filled and found relevant to the study. The study used SPSS and Excel to identify the descriptive characteristics of the variables of the study and analyze the data. Regression analysis was used to test the hypotheses of the study. Study results concluded that there is positive relationship between; automated teller machine, point of sale services, transaction alerts via short message services (SMS), mobile banking and performance of SMEs in Anambra State, Nigeria. The result also showed that SMEs continuous usage of electronic banking services could be attributed to cost effectiveness, convenience, security, accessibility and diversity of the services. The study recommends among others that, security of electronic banking services should be upgraded by a conjunction between SMEs and banks and that government should provide adequate regulatory framework to protect customers and security of transaction. Furthermore, policy makers in Nigeria should take advantage of the positive revelation of this study to make policies that will increase number of SMEs in Anambra state and Nigeria at large especially from the large number of informal enterprises in Anambra state and Nigeria.
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Awa, Hart Okorie, Nsobiari Festus Awara, and Eeba Dumka Lebari. "Critical factors inhibiting Electronic Commerce (EC) adoption in Nigeria." Journal of Science & Technology Policy Management 6, no. 2 (July 6, 2015): 143–64. http://dx.doi.org/10.1108/jstpm-07-2014-0033.
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Purpose – This study aims to develop adoption barriers model that captures location factors and non-transparency in government support programs, and attempted to unveil why certain locations offer more adoption opportunities than others. Design/methodology/approach – The opinions of small and medium enterprise (SME) owners/managers in the six geo-political zones of Nigeria were purposefully sampled. Two major cities (the commercial nerve center and a state capital) in each zone were chosen for the study and the data were analyzed using multiple regressions. Findings – Irrespective of the need to enhance operations through real-time knowledge sharing and network externalities; evidence from the study shows that SMEs in Nigeria are yet to exploit the full potentials of e-commerce solutions. This is evidenced by non-transparency in government support programs, location factors, weak finances, firm’s size, confidentiality of information, infrastructural inadequacy and lack openness and business integration. Research limitations/implications – Sampling the opinions of SMEs in Nigeria limits the power of generalization. Therefore, extended data and measures are required to replicate the study to improve external validity and reliability, and possibly build theories. Also, some errors seem unavoidable in the course of converting data just as all the measures used appear subjective and prone to common method bias. Originality/value – Though e-commerce adoption draw-backs enjoy huge literature, location factors and non-transparency in government support programs as critical inhibitors seem least studied. Therefore, this paper complements literature, stimulates future research and advises policymakers on promulgating, and real implementation of, appropriate policy frameworks to create information, communication, technology (ICT)-friendly environment within which e-commerce diffuse amongst SMEs.
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Ademola S, Sajuyigbe. "INFLUENCE OF FINANCIAL INCLUSION AND SOCIAL INCLUSION ON THE PERFORMANCE OF WOMEN - OWNED BUSINESSES IN LAGOS STATE, NIGERIA." Scholedge International Journal of Management & Development ISSN 2394-3378 4, no. 3 (June 4, 2017): 18. http://dx.doi.org/10.19085/journal.sijmd040301.
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Recognising the indispensable role of women owned enterprises in general economic development, the government of Nigeria have offered support to the development of women owned enterprises through financial intermediary, infrastructures and policy measures. Despite of these indicators, the state of micro entrepreneurship has yet to reach a satisfactory level and women enterprises continue to lag behind that of their male counterparts. This study therefore investigated the influence of financial inclusion and social inclusion on the Performance of Women - Owned Businesses in Lagos State, Nigeria. The population of this study comprised all four thousand six thousand sixty three (4,663) women-owned Micro, Small and Medium Enterprises (MSMEs) registered with SMEDAN while three hundred and fifty seven (357) were selected as a sample size for the study. The data collection instruments for the study were structured questionnaire and personal interview. Data were analyzed with the aid of Multiple Regression (Ordinary Least Square Estimation) and Pearson Product Moment Correlation Coefficient. Results showed that financial inclusion and social inclusion have positive and significant influence on women–owned businesses performance. Additionally, financial inclusion and social inclusion jointly contribute about 42.9% to the performance of women –owned businesses. Results also indicated that social inclusion (r = 0. 543**) is positively and significantly related with the financial inclusion. The therefore recommended that government should have a policy in place through its financial regulator to encourage financial institutions to diversify their branch networks in the country and government should also have policies and regulatory frameworks in place that will close the gender gap in financial inclusion and social inclusion.
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Yahaya, Yakubu, Umar Ayuba Dutse, and Sule Bello. "The Impact of Government Policies on the Growth and Development of SMEs interprises in Bauchi State Nigeria." SocioEconomic Challenges 5, no. 2 (2021): 111–19. http://dx.doi.org/10.21272/sec.5(2).111-119.2021.
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Every business or start-up was e-ray by the government official ranging from local, state and federal level in Nigeria. Therefore, for SMEs to operate it’s a perquisite to follow the due process from registration by ministry of commerce and industry at state level and the various agencies responsible for registration. This challenge represents both widespread personal misfortune for individuals and a lost opportunity for critical national and global economic development. This study examines the challenges that affect the growth and development of small and medium enterprises in Bauchi state, Nigeria .The study was guided by an epistemological research philosophy adopting a positivist research paradigm. The research design was cross-sectional survey design using both quantitative and qualitative approaches. The target population for this study was 754 registered small and medium scale owned enterprises registered with the Bauchi state government by December 2019 and the sample size was 172 respondents derived using Fisher’s formulae. This study used a self-administered, closed, and open-ended questionnaire to obtain quantitative data. The study used descriptive statistics such as mean, standard deviation, median and proportions using the Statistical Package for Social Sciences (SPSS) version 24 and Microsoft Excel. Regression analysis and correlation analysis were used to determine the direction and strength of the relationship between the independent and the dependent variables.. The questionnaires were administered among the seventy (70) management staff members of the one hundred and seventy two (172) selected SMEs in Bauchi state Nigeria through purposive sampling method, and this was done personally by the researcher. Descriptive and inferential statistics was use to analyze and interpret the data use in this research. The study reveals that government policies is a major challenges that help SMEs to grow and achieve its stated objectives in global competitive environment. On same vain this study is so keen and motivated to established evidence on these challenges ascertain especially, in a context of current phenomena SMEs face in Bauchi state. Finally, the study will utilize the element of contingency theory, as these SMEs require sound institutional framework to mitigate these challenges. However, anecdotal evidence shows that SMEs in developing countries like Nigeria are faced with a lot of challenges that have hampered their growth in recent times. Among these challenges are: intermittent power supply, indiscriminate tax levies government policy, low accessibility to loans from financial institutions and inability to keep proper financial records. The study reveals that Government policies have a significant impact on the growth and development of SMEs in Bauchi State, Nigeria. Subsequently, the study recommends that management of SMEs should adopt good strategy in order to overcome these challenges.
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AKENROYE, TEMIDAYO O., and OLUSEYI AJU. "A TAXONOMY OF APPROACHES FOR PROMOTING SMEs ACCESS TO PUBLIC PROCUREMENT MARKET." Journal of Enterprising Culture 21, no. 03 (September 2013): 335–57. http://dx.doi.org/10.1142/s0218495813500143.
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In spite of the fact that public procurement is increasingly becoming a popular technique for small business empowerment, there are various challenges facing SMEs in public procurement. Using Nigeria as a platform, this paper examines barriers that hinder SMEs access to public procurement markets. Data were collected from literature review, analysis of documents and semi-structured interviews. The results show that lack of transparency in tendering often discourages SMEs from getting involved in public procurement in Nigeria. It further highlights the need for actions to address issues facing SMEs at different stages of the procurement process. By integrating research findings into existing knowledge, a taxonomy of techniques for enhancing SMEs access to public procurement is proposed. The taxonomy reveals specific schemes and measures to promote SME participation in public procurement. This will offer guidance to governments, policy makers and procurement experts on the implementation of SME-friendly procurement practices. The study adds to the on-going debates on the significance of public procurement policy on SME development.
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Fatty, Lamin K. M., Prof Idu Ogbe Ode, Bejamin Gowon Ahule, and Akuhwa Tor. "COMPARATIVE STUDY OF AGRICULTURAL EXTENSION SYSTEM OF NIGERIA AND THE GAMBIA." International Journal of Advanced Economics 3, no. 2 (June 21, 2021): 58–71. http://dx.doi.org/10.51594/ijae.v3i2.236.
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This study focuses on the analysis of Nigeria and The Gambia National extension policies and system. The study discussed three main themes (mission and goals, approach and functions, and clienteles). The study found that both two countries does not adopt legislated or formal national extension policy rather implied policies which were garnered, feasible, for the two countries through their government publications and published researched studies from academic and recognized developmental institutions. Generally, the analysis found that the two countries extension missions and goals focused on improving profitability of agricultural business and increasing output volumes; market share in achieving to enhancing quality of life and agricultural development. In terms of approaches and functions, the study observed that public sector extension in the two countries is undergoing transformation including decentralization and outsourcing extension services in the context of adopting a pluralistic system of extension delivery. While up to six models of extension are a commonly applied in the two countries, the dominant context is pluralism around public, private and NGO-based services. The dominant clientele was stated to be women and small- and medium-scale farmers. However, main barriers limiting women’s participation are still insufficiently addressed. The study concludes that it is important for the two countries authorities, perhaps supportively, to develop and establish formal extension policies that will manifest their vision, mission, goals and methods to provide a stable agenda within which targeted clientele and be purposively supported in the pursuit of sustainable agricultural development.
Keywords: Extension, Extension Policy, Nigeria, The Gambia, Mission and Goals, Approach and Function, Clientele.
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Anderu, KEJI Sunday. "An empirical nexus between poverty and unemployment on economic growth." Jurnal Perspektif Pembiayaan dan Pembangunan Daerah 9, no. 1 (April 30, 2021): 85–94. http://dx.doi.org/10.22437/ppd.v9i1.12005.
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The study examines the empirical nexus between poverty and unemployment on economic growth in Nigeria between 1980 and 2016. Auto-Regressive Distributed Lag (ARDL), Bound cointegration testing, and Error Correction Methods (ECM) were used to investigate the link between unemployment, poverty rate, and economic growth in Nigeria. Post estimation tests such as the Jarque-Bera test, Breusch-Pagan, ARCH test, and Ramsey reset test were also adopted in order to validate the research finding. The diagnostic tests further disclosed that the estimated model follows the Ordinary Least Square technique assumptions to attain efficiency and consistency of the model employed. The Jarque-Bera test suggests that residuals for both models are normally distributed, and the Breusch-Godfrey Serial Correlation (LM) test indicates that the hypothesis of no autocorrelation cannot be rejected. Interestingly, the ARDL and ECM results show that unemployment and poverty significantly impact economic growth both in the short and long run. Hence, the study recommended that the Nigeria government should ensure that adequate measures are put in place: Such as investment in education, agricultural sector reform, expansionary fiscal policy, intervention in micro-lending for small scale businesses by the government should be implemented to reduce the level of unemployment and poverty rate both in the short run and long run.
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Edoho, Felix Moses. "Entrepreneurship and socioeconomic development." African Journal of Economic and Management Studies 6, no. 2 (June 8, 2015): 127–47. http://dx.doi.org/10.1108/ajems-03-2013-0030.
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Purpose – The purpose of this paper is to examine the impact of public policies on engendering entrepreneurship and micro, small, and medium enterprises (MSME) development in Nigeria. Gaps in policies and factors that impede entrepreneurship and MSME development are identified and proposals are offered to address the impediments. Design/methodology/approach – A thorough review of the mainstream literature on entrepreneurship and MSME development is undertaken. This constitutes the reference point for identifying and reviewing specific public policies formulated and programs designed to stimulate entrepreneurial activities and facilitate MSME development. Data were obtained from federal government agencies. This paper contends that for public policies to accomplish their designed objectives of engendering entrepreneurship and MSME development, strategic realignments of various policy dimensions and programs are imperative. Findings – Misalignments occur when existing public policies in other domains are in conflict with policies to promote entrepreneurship and MSME development. Policy misalignments negate the profit motive of entrepreneurship; stifle business innovation and expansion; and contribute to survivalist mode of entrepreneurship in the country. This thwarts the public policy goals of creating jobs and alleviating poverty. Practical implications – Government needs to streamline current regulatory requirements and revamp tax policies to encourage entrepreneurs and MSMEs. Improvements in infrastructure (road networks, highways, power supply, and telecommunications) will significantly reduce overhead costs for entrepreneurs and help MSMEs to grow. Originality/value – The paper demonstrates that without strategic realignments of public policies to ensure consistency and coherency in various dimensions, efforts to promote entrepreneurship and MSME development will not yield positive results. Existing public policies and programs need to be brought into tight realignment with policies and regulations in other domains to galvanize entrepreneurial efforts.
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Nwakanma, Emmanuel, and Joseph Egidi Igbe. "Poverty and Coping Strategies of Unemployed Youths in Cross River State, Nigeria." Current Research Journal of Social Sciences and Humanities 3, no. 2 (December 30, 2020): 262–79. http://dx.doi.org/10.12944/crjssh.3.2.13.
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The study investigates how unemployed youths in Cross River state respond to and cope with poor economic conditions. The phenomenon of poverty has been identified as one of the increasing social challenges in Nigeria and has been linked to a number of social problems including street crime, substance abuse, internet fraud, armed robbery, ritual killings, kidnapping, and youth restiveness. Scholars have also argued that whereas the youth is the locomotive of national development and contribute immensely to the sustenance of the developmental momentum of a nation; youths in Nigeria are largely unemployed and redundant. The social consequences of this are enormous and can only be explained from the lens of the restricted opportunity theory and the strain theory. The study employed a cross-sectional survey research design involving questionnaires, interviews, descriptive statistics and 1,010 purposively selected respondents from six local government areas in the three senatorial districts of Cross River. The findings of the study revealed that youth poverty is a growing concern in Cross River state, and is caused by limited access to loans, lack of job opportunities, policy paralysis, among many other factors. Respondents of the study further noted that unemployed youths in the state cope with the hardship associated with poverty and unemployment by engaging in various activities including negative ones such as commercial sex work, theft, cyber fraud, and armed robbery. It is thus recommended, among other things, that the Nigerian State must invest in youth development by creating programmes and funding for small scale businesses, vocational training, and skills development.
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Adesola, Sola, Birgit den Outer, and Sabine Mueller. "New entrepreneurial worlds." Journal of Entrepreneurship in Emerging Economies 11, no. 4 (November 4, 2019): 465–91. http://dx.doi.org/10.1108/jeee-08-2018-0076.
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Purpose The purpose of this paper is to determine if and how role models presented in entrepreneurship education can influence students’ entrepreneurial activity given that the lack of financial and material means render most role models unattainable. Design/methodology/approach Data were collected in three stages from an entrepreneurship workshop programme held in Lagos, Nigeria. Nigerian and European undergraduate and graduate business students worked together to develop sustainable business ideas for the European and African market. In this exploratory paper, the emphasis for analysis is on the Nigerian students. Findings Based on the research results, the authors identified four types of role models and gained insight into how and why they could inspire students at different stages of entrepreneurship education. Research limitations/implications This research is highly contextual with an emphasis on Europe and Africa. Given the relatively small sample of the European students in this study, this paper only presents findings from the Nigerian students. In view of time and sample size constraints, it would be useful to do a longitudinal international study to compare the approaches taken by European and African higher education institutions to develop an understanding of role models in entrepreneurship education and entrepreneurial activity. Further study is needed to explore whether role models are the way forward to address the processes of student entrepreneurial learning in the context of entrepreneurship education in Nigeria. Further work could also uncover deeper convictions, the attitudes of students with regard to race and gender, and consider implications for practice between university and industry. Practical implications The paper contributes to the development of entrepreneurship education in the context of Nigeria’s emerging economy and makes suggestions on how to stimulate entrepreneurial activity through the targeted use of role models. Social implications In view of financial, material or societal constraints to attain role models, the result of this study can be applied in other African contexts or emerging economies to develop the understanding of the relationship between role models in the industry, higher education practices and government policy. The findings of this study show that the highest impact gained is from “real-life” exchanges between students and entrepreneurs. Originality/value Traditional entrepreneurship education fails because the learner’s process of integrating and applying behaviours of entrepreneurial examples and programmes is opaque. Research on role models suggests that where they have a positive impact is where they are perceived as self-relevant and attainable. This idea is explored in the particular context of entrepreneurship education in Nigeria in West Africa, which is characterised by highly limited and fluctuating resources despite Nigeria’s relative wealth. The authors conclude with suggestions for the use of role models in entrepreneurship education, especially in the Nigerian higher education context. This paper, therefore, contributes to research on entrepreneurship role model education in emerging economies.
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Kamta, Frederic Noel, Janpeter Schilling, and Jürgen Scheffran. "Insecurity, Resource Scarcity, and Migration to Camps of Internally Displaced Persons in Northeast Nigeria." Sustainability 12, no. 17 (August 23, 2020): 6830. http://dx.doi.org/10.3390/su12176830.
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For almost two decades, the Lake Chad Basin (LCB) in general and northeast Nigeria in particular have been subject to the insurgency of the Islamist terrorist group Boko Haram. This region is also known for its poor environmental conditions that mostly manifest in land desertification and water scarcity. We analyze the impact of the insecurity and conflict on migration from the most affected rural areas of northeast Nigeria to Maiduguri. We also explore the role that water scarcity and land desertification play in the decision of local people to migrate. Data were collected by interviewing 204 internally displaced persons (IDPs) at the Bakassi IDP camp in Maiduguri between March and May 2019. Experts were also interviewed at various governmental, non-governmental, and international institutions in Abuja. Respondents at the Bakassi IDP camp came from Guzamala, Gwoza, Marte, Monguno, and Nganzai. Though insecurity created by the conflict between Boko Haram insurgents and government forces was mentioned by all respondents as the main factor that triggered migration, this study shows that the decision to migrate was also a function of other factors that differ between communities. These factors include the geographical location of the community, land ownership, the socioeconomic status of the migrants, access to water and land, and wealth. This study reveals that in some communities, it was possible for people to live with conflict if they were still able to practice farming or if they had additional sources of income such as small businesses. The decision to migrate was only taken when the practice of such activities was no longer possible and they had nothing to hold on to.
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Sosina, A. O., and O. J. Babayemi. "Assessment of livestock components in crop-livestock production systems in Ido Local Government Area of Oyo State, Nigeria." Nigerian Journal of Animal Production 47, no. 5 (December 31, 2020): 101–13. http://dx.doi.org/10.51791/njap.v47i5.1357.
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The contribution of livestock in the livelihood activities to the farmers' household income is critical to food security in Nigeria. Against there is a paucity of information on the assessment of livestock components in integration production systems. The study tries to investigate the livestock component in the crop-livestock production system in Ido Local Government Area (LGA) of Oyo State. A multi-stage sampling technique was used to elicit information from purposively selected 225 respondents with the Participatory Rural Appraisal method. Parameters measured were biodata, wealth status, average livestock holding/household (TLU), seasonality. Qualitative and quantitative data collected through questionnaire were transcribed into the Feed Assessment Tool (FEAST) Excel macro program (www.ilri.org/feast) and were analyzed with descriptive statistics. The respondents' categories (%) landless, small, medium and large scale were 10, 42, 30, and 18, respectively. The average livestock holding/household (TLU) values were 0.08, 0.33, 0.37, 4.96, 5.68, 14.40, 28.80, and 67.68 poultry, sheep, goat, indigenous (female dairy calves, male calves, dairy heifers, dairy lactating cows, and dry dairy cows), respectively. The average livestock species holding/household values of 121.53, 10.50, 5.00, and 15.20 for indigenous dairy cattle, WAD goat, WAD sheep, and indigenous poultry, respectively. The average area of land put to the cultivation of these fodders was 8.80, 2.40, 0.80, 0.80, 0.40, and 0.30, respectively. The contribution of livelihood activities to household income (%) was livestock (60), agriculture (20), business (10), remittances (5), labor (3), and others (2). It can be concluded that since Ido LGA is an oasis for crop and livestock production enterprises due to the available quality and quantity of feed resources -FEAST can assist the government in policy formulation. La contribution du bétail aux activités de subsistance au revenu des ménages des agriculteurs est essentielle à la sécurité alimentaire au Nigéria. Par contre, il y a un manqué d'informations sur l'évaluation des composants de l'élevage dans les systèmes de production d'intégration. L'étude tente d'étudier la composante élevage dans le système de production de cultures et de bétail dans la zone de gouvernement local d'Ido (le 'LGA') de l'État d'Oyo. Une technique d'échantillonnage à plusieurs degrés a été utilisée pour obtenir des informations auprès de 225 répondants sélectionnés à dessein avec la méthode d'évaluation rurale participative. Les paramètres mesurés étaient les données biologiques, l'état de richesse, la moyenne des exploitations / ménages, la saisonnalité. Les données qualitative et quantitatives collectées par le biais du questionnaire ont été transcrites dans le programme macro Excel de l'Outil d'évaluation de l'alimentation (le 'FEAST') (www.ilri.org/feast) et ont été analysées avec des statistiques descriptives. L'échelle était de 10, 42, 30 et 18, respectivement. Les valeurs moyennes des exploitations / ménages étaient de 0.08, 0.33, 0.37, 4.96, 5.68, 14.40, 28.80 et 67.68 volailles, ovins, caprins, indigènes (veaux laitiers femelles, veaux mâles, génisses laitières, vaches laitières en lactation, et vaches laitières séchées), respectivement. Les valeurs moyennes des espèces d'élevage / ménage sont respectivement de 121.53, 10.50, 5.00 et 15.20 pour les bovins laitiers indigènes, les chèvres WAD, les moutons WAD et la volaille indigène. La superficie moyenne des terres consacrée à la culture de ces fourrages était de 8.80, 2.40, 0.80, 0.80, 0.40 et 0.30, respectivement. La contribution des activités de subsistance au revenu des ménages (%) était l'élevage (60), l'agriculture (20), les affaires (10), les envois de fonds (5), la main-d'oeuvre (3) et autres (2). On peut en conclure que puisque la zone de gouvernement local d'Ido est une oasis pour les entreprises de production agricole et animale en raison de la qualité et de la quantité disponibles des ressources fourragères –le FEAST peut aider le gouvernement dans la formulation des politiques.
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Strang, Kenneth David. "Needs assessment of international capacity building using a Delphi technique." World Journal of Entrepreneurship, Management and Sustainable Development 13, no. 4 (September 10, 2017): 286–302. http://dx.doi.org/10.1108/wjemsd-02-2017-0006.
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Purpose The purpose of this paper is to engage African subject matter experts to assist with a needs assessment of international capacity building for developing countries in Africa, to establish a prioritized list of capacity building keywords substantiated by a current literature review. Design/methodology/approach A pragmatic mixed-method research design was used which involved conducting literature reviews and applying a modified Delphi technique to determine future research needs. The credibility of these results was strengthened by selecting a Delphi subject matter expert panel from African countries including Benin, Uganda, Rwanda, Burundi, Ethiopia, Ivory Coast, South Africa, Zimbabwe, Madagascar, Cameroon, Congo, Burkina Faso, Eritrea, Algeria and Nigeria. Non-parametric statistical techniques were used to objectively analyze the qualitative data and prioritize the findings. Findings The results clearly identified seven literature keywords which could improve future African capacity building research (in order of highest importance first): Trade Union (regional economic integration), Governance, FDI, Emigration, Education, Economic (small business stimulation), and Brain Gain. Additional keywords surfaced in the literature related to these ones, namely healthcare and brain drain (emigrating academics and scholars). Research limitations/implications The results of this study should generalize to government and capacity building policy administrators in Africa as well as to other researchers and practitioners in this field. The use of a novel modified Delphi technique should also be of interest to other researchers. Originality/value The modified Delphi technique commenced with a knowledge sharing conference where pre-selected subject matter experts collaborated to define the initial scope of questions. Another novel aspect of the customized Delphi technique was that the subject matter experts were required to conduct a literature review to substantiate their responses to questions.
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Edoho, Felix Moses. "Entrepreneurship paradigm in the new millennium." Journal of Entrepreneurship in Emerging Economies 8, no. 2 (June 6, 2016): 279–94. http://dx.doi.org/10.1108/jeee-08-2015-0043.
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Purpose The purpose of this paper is to provide guidance to African governments by delineating a framework that would help them to formulate policies that have the potential to engender opportunity entrepreneurship. This framework is used to critique existing entrepreneurship policy in Nigeria. Entrepreneurship policy should stimulate economic growth as a necessary condition for employment generation and poverty alleviation. Design/methodology/approach The paper adopts evaluative methodology. Data and information used in this paper were obtained from several secondary sources. These included literature review related to the subject area addressed; the Central Bank of Nigeria, which has designed and funded various initiatives to enable SMEs access funding for their businesses; the Nigerian National Bureau of Statistics which has conducted surveys of SMEs in the country; and the Small and Medium Enterprise Development Agency of Nigeria, which was established to help promote and develop the SME sub-sector. Findings The critical findings of the paper are that opportunity entrepreneurship has a better prospect of promoting growth, creating jobs and alleviating poverty than a generic MSME policy being current currently promoted. Targeted entrepreneurship policy to incentivize opportunity-oriented entrepreneurs would produce greater benefit to the economy and society. Such entrepreneurship policy should aim at motivating and facilitating the transitions of necessity entrepreneurs to opportunity entrepreneurship and microenterprises to small and medium enterprises. More importantly, entrepreneurship policy should be targeted at drastically shrinking the informal sector to the barest minimum, while helping to aggressively expand the formal sector, spur innovations, foster growth, expand opportunities and create jobs. Research limitations/implications The implication of this paper is the desperate need to refocus public policy on a high-impact entrepreneurship. This calls for a rethinking of existing policy and programs to address their inherent shortcomings. Originality/value Existing micro, small and medium enterprise (MSME) policy has not achieved the twin goals of job creation and poverty alleviation. This paper contributes to the existing body of work by providing a framework for informed decision-making relative to entrepreneurship policy that has the potential to achieve macroeconomic goals of job creation and poverty alleviation. The framework directs the attention of policymakers to opportunity entrepreneurship as a necessary focus of public policy.
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Ologbenla, Patrick. "Determinants of fiscal policy behavior in Nigeria." Investment Management and Financial Innovations 16, no. 2 (April 8, 2019): 1–13. http://dx.doi.org/10.21511/imfi.16(2).2019.01.
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The study investigated the factors that determine fiscal behavior in Nigeria. The vulnerability of fiscal policy framework in Nigeria to different shocks and the attendant effects on the behavior of fiscal policy are parts of the reasons that prompted this research work. Annual data between 1980 and 2015 on core fiscal variables such as government revenue, government expenditure, fiscal balance, public debt, as well as other variables such as oil price, exchange rate, and inflation rate commodity price among others, are used. The Auto-Regressive Distributed Lag ARDL estimating technique is used to analyze both the long-run and short-run effects of these variables on fiscal behavior in Nigeria. Findings from the study show that fiscal policy in Nigeria is highly vulnerable to shocks from these variables mostly in the short run. Notwithstanding, variables like government revenue, government expenditure, regime of administration, oil price and commodity price volatilities all have sustained effects till the long-run periods. It was discovered that oil price movements is not the only external factor that has pronounced effects on fiscal behavior, but commodity prices volatility generally constitutes an important influential factor in determination of fiscal policy behavior in Nigeria.
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Obaji, Nkem Okpa, Aslan Amat Senin, and Mercy Uche Olugu. "Supportive Government Policy as a Mechanism for Business Incubation Performance in Nigeria." International Journal of Information Systems and Social Change 7, no. 4 (October 2016): 52–66. http://dx.doi.org/10.4018/ijissc.2016100103.
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Business incubation programme has been adopted by numerous countries globally. Its adoption has been related to its performance and actual contribution to entrepreneurship development. Studies have acknowledged the role of incubation programme to different spheres of national economy. In spite of the positive side of incubator model, there is still a contradiction concerning incubation performance in the developing countries, especially, Nigeria. This study aims to examine the contribution of government policy on the relationship between the critical success factors (CSFs) and incubator performance in Nigeria. Questionnaires were distributed to a sample size of 153 respondents from a population of 253 incubatees. The Partial Least Squares (PLS) software was used to analyze the data. Government policy as a moderator did not show a significant moderation relationship between the CSFs and incubator performance. The study recommends that future studies should integrate this quantitative approach of data collection with the qualitative method. Also, as the value of the coefficient of determination is 46%, future research should look at other factors which may likely increase the variation in performance explained by (or accounted for by) the variation in the CSFs.
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Mole, Kevin. "Street-Level Technocracy in UK Small Business Support: Business Links, Personal Business Advisers, and the Small Business Service." Environment and Planning C: Government and Policy 20, no. 2 (April 2002): 179–94. http://dx.doi.org/10.1068/c0112.
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The broad focus of this paper is the divergence of implemented policy from intended policy in UK small business support. The Small Business Service (SBS) is the United Kingdom's most recent attempt to provide coherent support for small business. With its structure of local franchisees and multiagency partnerships, the SBS is part of the United Kingdom's Modernising Government agenda, which aims to provide ‘joined-up’ and responsive public services. However, it is not always easy for policymakers to execute new plans in the form in which they were intended. Street-level bureaucracies develop where those who implement complex policies amend them to make them easier to apply in practice. This paper investigates the UK Business Links' Personal Business Adviser (PBA) service. The paper draws on data from a focus group often PBAs and subsequent survey of the 175 PBAs in England and Wales conducted in summer 1998. The experience and tacit knowledge of PBAs provides the expertise for a bespoke support service to small businesses. Business advisers have both technical expertise and closeness to delivery that confers the power to amend small business policy. This tacit knowledge confers powers akin to a ‘street-level technocracy’. Thus, policies that do not carry PBA support, such as targeting, are unlikely to be implemented effectively. A new approach to small business support has been formed from the difficulty in controlling PBAs through performance indicators, which appear to have distorted the intended policy, and the Modernising Government agenda. The new SBS devolves the operation, but not all control, of business advice from the national SBS to local Business Links. PBAs will play a major part in the network mode of governance of the new SBS franchisees.
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김상순, 양영석, and Jong-Weon Kim. "A study on Assessing Positive Impacts to Small Business Startups by Government Policy of Promoting Small Business." Asia-Pacific Journal of Business Venturing and Entrepreneurship 7, no. 2 (July 2012): 167–75. http://dx.doi.org/10.16972/apjbve.7.2.201207.167.
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Ibrahim, Maryam Imam, Ooi Yeng Keat, and Shamsul Huda Binti Abd Rani. "Entrepreneurial Orientation, Technology Orientation and Small and Medium Enterprises Performance in Nigeria: Role of Government Support Policies." Journal of Business and Social Review in Emerging Economies 3, no. 1 (June 30, 2017): 75–84. http://dx.doi.org/10.26710/jbsee.v3i1.44.
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Purpose: The study empirically analyzes the moderating role of government support policy on the relationship between entrepreneurial orientation, technology orientation, and performance of small and medium enterprises (SMEs) in northeast Nigeria.
Design/Methodology/Approach: The paper adopts quantitative survey method using structured questionnaires, data were collected from 240 SME owner-managers in northeast Nigeria. The data collected was analyzed using Partial Least Squares PLS-SEM.
Findings: The findings of the study indicate a significant positive relationship between EO, TO and Performance of SMEs. Additionally, the outcomes of the study authenticate that government support policy moderates the relationship between EO, TO and performance of SMEs in Nigeria.
Implications/Originality/Value: The study has practical implication for the government, policy makers, regulators, SMEs owner-managers and other stakeholders to recognize government support as it affects SMEs performance. The study further adds to the frontier of knowledge on the importance of GSPs in strengthening the relationship between the variables and SMEs performance. This is the first study that focuses on testing the moderating role of government support policy on the relationship between entrepreneurial orientation, technology orientation and SMEs performance in Nigeria,
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Taiwo, Muritala A., Awolaja M. Ayodeji, and Bako A. Yusuf. "Impact of Small and Medium Enterprises on Economic Growth and Development." American Journal of Business and Management 2, no. 1 (May 30, 2013): 18. http://dx.doi.org/10.11634/21679606170644.
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This paper seeks to investigate Small and Medium Enterprises as a veritable tool in Economic Growth and Development. A survey method was used to gather data from 200 SME/Entrepreneurial officers and Managers from five selected local government in Nigeria namely; Ijebu North, Yewa South, Sagamu, Odeda and Ogun Waterside Local government. Data was collected with a structured questionnaire and analyzed with several descriptive statistics to identify the perception of the roles of SMEs in Nigeria. The results of the study therefore reveals that the most common constraints hindering small and medium scale business growth in Nigeria are lack of financial support, poor management, corruption, lack of training and experience, poor infrastructure, insufficient profits, and low demand for product and services. Hence, it therefore recommends that Government should as matter of urgency assist prospective entrepreneurs to have access to finance and necessary information relating to business opportunities, modern technology, raw materials, market, plant and machinery which would enable them to reduce their operating cost and be more efficient to meet the market competitions.
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Taylor, Eunice, Mariam Al Yousuf, Eyad Saleh Nassar, Mohamed Saleh, and Jiji Philip. "The small business dilemma." Worldwide Hospitality and Tourism Themes 7, no. 1 (February 9, 2015): 50–62. http://dx.doi.org/10.1108/whatt-12-2014-0040.
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Purpose – This paper aims to explore the particular dilemma of achieving international best practice and regulatory compliance for food safety in small local restaurants with limited resources, low levels of literacy and no common language. It is the fourth article in a Worldwide Hospitality and Tourism Themes theme issue presenting a comprehensive government strategy for improving food safety management standards across the hospitality industry. Design/methodology/approach – The article outlines extensive industry fieldwork involving on-site observations and interviews, undertaken by researchers from the relevant cultural backgrounds to identify common practices and specific risks, and facilitate targeted interventions. Findings – As expected, the independent restaurant sub-sector in Abu Dhabi is similar to international norms, with the additional challenge of language and literacy. In-depth on-site observations reveal a range of high-risk situations and practices, which require specific solutions from government to raise food safety levels. Practical implications – This article clarifies the scale and nature of the independent restaurant sub-sector of hospitality businesses, and uses in-depth, culturally appropriate research to identify the reality of food safety practices, major risks and areas for improvement. It identifies a list of 18 practices found in small hospitality businesses, which if controlled would make a significant difference to food safety. Originality/value – The article will be of value to practitioners, researchers, policy makers and other stakeholders involved in the food industry.
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Djamil, MM., Prof Dr H. Masydzulhak. "The Management Of Micro and Small Business In Bengkulu." Jurnal Manajemen 8, no. 2 (December 30, 2018): 113. http://dx.doi.org/10.32832/jm-uika.v8i2.750.
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Regional autonomy essentially is the central government policy to quicken the development and service to public in region. Nevertheless, there are still many constraints and obstacles for development in some region. This might be caused by the incapability of Government in interpreting the meaning of regional autonomy. Small and medium industry (UKM) have been proven been able to survive in economic crisis in the year 1997 / 1998. The time has come for Government to make cooperation and give bigger opportunity to grow UKM business. Scale number of (UKM) in Bengkulu province can become economic bases of area either for economic regional contribution or PDRB and labor absorption. The policy of small and middle business management is to effectively arrange and efficiency applied economic resource, with considering regional carrying capacity of coastal area.
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Efi, Anietie E. "Role of Higher Institutions in Promoting Entrepreneurship and Small Business in Developing Nations." International Journal for Innovation Education and Research 2, no. 9 (September 30, 2014): 15–22. http://dx.doi.org/10.31686/ijier.vol2.iss9.233.
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In a quest to promoting the development of entrepreneurship and small businesses in Nigeria, government in 2006 approved the total commitment of higher institutions in providing entrepreneurship education to Nigerian students by making entrepreneurship a compulsory course for all students irrespective of their disciplines. This paper examined the role of higher institutions in promoting entrepreneurship and small business in Nigeria. A critical review of entrepreneurship education in Nigeria reveals that the programme has helped in instilling and reviving entrepreneurial spirits in the minds of Nigerians, thereby encouraging and providing individuals with career options, self-sustenance, and self-reliance. This paper has also highlighted the challenges and concerns that threaten the effectiveness of entrepreneurship education in Nigeria. The paper recommends that entrepreneurship education should be introduced at the primary and secondary levels of the Nigerian educational sector as this will further boost the urge and drive for entrepreneurial practice and career option.
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Moos, Menisha, and Melodi Botha. "How do age and location affect a business? Evaluating the objectives, outputs and outcomes of small business policy." South African Journal of Economic and Management Sciences 19, no. 3 (September 5, 2016): 344–57. http://dx.doi.org/10.4102/sajems.v19i3.1335.
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Many scholars have dedicated their studies to understanding the kind of assistance given to small business. Likewise, numerous studies have concentrated on how government in particular, through a small business policy, can be instrumental in providing business support. This article evaluates South Africa‘s small business policy by concentrating on its objectives, outputs and outcomes. Studies evaluating small business policy according to its objectives, outputs and outcomes, have been limited. Such policy evaluation goes beyond merely reporting to understanding why certain phenomena take place. As an emerging economy, South Africa is in dire need of well-developed policies. This article proposes that understanding the link between small business policy and the age and location of a business may help government to refine policy formulation and design. Using a survey method and cross-sectional research design, the sample size of 340 respondents consisted of start-up and established business owners. This study found that not the age of the business, but only its location (the metropolitan municipality where the business is located) has a statistically significant effect on the objectives, outputs and outcomes of the small business policy. These findings should assist both national and international policymakers to identify specific context-bound interventions relevant to the location of businesses with a view to improving them.
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Michael Isaac (PhD), OPUSUNJU, and AKYUZ, Murat, PhD. "Effect of Structural Adjustment Programme on the Performance of Small and Medium Scale Enterprises in Nigeria." International Journal of Social Sciences and Humanities Invention 6, no. 8 (August 5, 2019): 5565–70. http://dx.doi.org/10.18535/ijsshi/v6i8.03.
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The examined the effect of structural adjustment programme on the performance of small and medium scale enterprises in Nigeria. The research design adopted for the study is ex-post facto and the population of this is all the small and medium scale enterprises in Nigeria. The population of the study is 72838 and was used as the sample size. Structural adjustment programme was measured by import substitution policy and export promotion policy and small and medium scale enterprise performance was measured by SMEs output. The study covered a period of 32 years from 1986-2017. The statistical tools adopted in this study were descriptive statistics, correlation analysis, unit root test and Regression. The analysis was conducted using e-view statistical software and the finding indicates that there was a negative and significant effect relationship between structural adjustment programme and performance of Small and medium scale enterprises in Nigeria. The study also found that LIM has a positive and significant effect on LSMEOPT in Nigeria. Also, LEX has a negative and significant effect on LSMEOPT in Nigeria. The study suggested that Government in Nigeria should reduced the adoption of SAP in Nigeria but should only embark on import substitution since before the adoption of SAP, Nigerian introduced indigenization policy in 1977. Government of Nigeria should designed policy that discourage the people of Nigeria to purchase SMEs manufactured products from the richer countries. They should only sell their primary products on the world market, but their foreign exchange reserves should not be used to purchase the manufactures products from abroad.
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Abiodun Eniola, Anthony, and Harry Entebang. "Small and Medium Business Management-Financial Sources and Difficulties." International Letters of Social and Humanistic Sciences 58 (September 2015): 49–57. http://dx.doi.org/10.18052/www.scipress.com/ilshs.58.49.
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SMEs has performed an unparalleled role in coming to the Nigeria economic growth and assist as a training ground for entrepreneurs and a provider of solutions to address the challenges of unemployment in all consuming labours and promoting marketing growth. An opportunity for the wholesome advancement of SMEs in Nigeria was in connection to the sea change and growth policy as a consequence of the rapid advancement of the global economic system. But with the world economic unification, SMEs business environment is facing tremendous changes and more intense competition. Hence, the reason for this study is to confront the sources of SME firm financing, conceptualise its financial challenges and source causes with objectives to exploit the increase and advancement of SMEs prospectively.
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Imam Ibrahim, Maryam. "Determinants of Small and Medium Enterprises Performance in Nigeria: The Role of Government Support Policy." International Journal of Business and Economics Research 8, no. 2 (2019): 41. http://dx.doi.org/10.11648/j.ijber.20190802.11.
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Akanbi, Olusegun Ayodele. "Sustainability of fiscal policy in an oil-rich economy: the case of Nigeria." African Journal of Economic and Management Studies 6, no. 4 (December 7, 2015): 380–401. http://dx.doi.org/10.1108/ajems-06-2013-0053.
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Purpose – The purpose of this paper is to examine the sustainability of fiscal policy in Nigeria by disaggregating the economy into oil and non-oil segments. Design/methodology/approach – Owing to the enormous influence of the oil revenue, the study distinguishes between the oil and non-oil fiscal balances. In addition, it abstracted from the endogenous macroeconomic environment, therefore, fiscal policy sustainability is investigated on the basis of the responses of the government primary balance to changes in deficits and debt levels. The models are estimated with time-series data from 1970 to 2011 using the Johansen estimation techniques. Findings – The results from the estimations performed suggest that government responds more to deficit targets than debt targets. However, this differs in the non-oil segment, as the fiscal policy actions of government do not consistently respond to either deficit or debt targets. Given this, the overall economy and the oil segment have revealed a strong fiscal sustainability over the years while fiscal policy is unsustainable in the non-oil segment. Research limitations/implications – The major limitation of this study is the unavailability of data on government expenditure resulting from oil revenue. Therefore, it would be imperative to reinvestigate the specifications adopted in this study in follow-up studies. Practical implications – The study includes implications for policy makers, especially in Nigeria and other oil-producing countries, to detect the extent to which the economy should rely on the oil revenue stream as the main source of revenue to government. The proceeds from the oil endowment have not yet trickled down to the rest of the economy where real economic activity could be carried out which would eventually lead to more tax revenue for the government. Originality/value – To assess the sustainability of fiscal policy in an oil-rich economy such as Nigeria, it is imperative to detect the influence of oil funds on both government revenue streams and expenditure decisions. This study has made this distinction.
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Matthew, Oluwatoyin, Daniel E. Ufua, Romanus Osabohien, Tomike Olawande, and Oluwatosin D. Edafe. "Addressing Unemployment challenge through micro and small enterprises (MSEs): Evidence from Nigeria." Problems and Perspectives in Management 18, no. 2 (May 4, 2020): 79–89. http://dx.doi.org/10.21511/ppm.18(2).2020.08.
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This study examined the operational characteristics of MSEs and their contributions towards addressing the national challenge of unemployment. The research was based on Ado-Odo/Ota Local Government Area in Ogun State, Nigeria. The study employed descriptive analysis and Ordinary Least Square (OLS) regression technique in estimating the data obtained. The administration of questionnaire was applied to collect the data. The study found out that micro and small-scale enterprises contributed to economic growth through their operational activities, via the job creation in the economy. Thus, the study recommended that government policies should be put in place to encourage micro and small enterprises, and the provision of infrastructures, credit facilities, tax holidays, training program, amongst others, for MSEs. It was also recommended for funding agencies to consider the trends of practicing MSEs towards addressing critical economic and social issues such as job creation, in granting them funding facilities, in order to facilitate continuous participation in job creation among Nigerian MSEs. AcknowledgmentThe authors appreciate the Management of Covenant University for funding the publishing of this manuscript in this journal.
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Sandhu, Moeed Ahmad, Javed Iqbal, Waris Ali, and Muhmmad Sajid Tufail. "Effect of Employee Motivation on Employee Performance." Journal of Business and Social Review in Emerging Economies 3, no. 1 (June 30, 2017): 85–100. http://dx.doi.org/10.26710/jbsee.v3i1.182.
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Purpose: The study empirically analyzes the moderating role of government support policy on the relationship between entrepreneurial orientation, technology orientation and performance of small and medium enterprises (SMEs) in northeast Nigeria.
Design/Methodology/Approach: The paper adopts quantitative survey method using structured questionnaires, data was collected from 240 SME owner-managers in northeast Nigeria. The data collected was analyzed using Partial Least Squares PLS-SEM.
Findings: The findings of the study indicates a significant positive relationship between EO, TO and Performance of SMEs. Additionally, the outcomes of the study authenticate that government support policy moderates the relationship between EO, TO and performance of SMEs in Nigeria.
Implications/Originality/Value: The study have practical implication for government, policy makers, regulators, SMEs owner-managers and other stakeholders to recognize government support as it affects SMEs performance. The study further add to the frontier of knowledge on the importance of GSPs in strengthen the relationship between the variables and SMEs performance. This is the first study that focuses on testing the moderating role of government support policy on the relationship between entrepreneurial orientation, technology orientation and SMEs performance in Nigeria.
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HOWARD, DENNIS, and DAMIAN HINE. "THE SMALL ENTERPRISE ENVIRONMENTAL MATRIX: A TOOL FOR STRATEGICALLY POSITIONING SMALL BUSINESS ASSISTANCE PROGRAMS." Journal of Enterprising Culture 08, no. 01 (March 2000): 1–22. http://dx.doi.org/10.1142/s0218495800000024.
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This paper commences by discussing Small Business Assistance Programs (SBAPs) including why they are necessary, how they work and when they should be employed. This sets the fundamental parameters upon which to base the design of SBAPs. But there is little in the literature, apart from rudimentary planning models to help with strategic positioning of SBAPs in a government policy context. The Small Enterprise Environment Matrix (SEEM) is proposed as a conceptually simple yet potentially useful tool to help policy-makers. It is based on the popular portfolio/matrix approach to strategic decision-making.
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Peter, Idoko. "Effect of Infrastructure on Rural Transformation of Gboko Local Governement Area of Benue State, Nigeria." International Journal of Contemporary Research and Review 9, no. 12 (December 11, 2018): 20551–61. http://dx.doi.org/10.15520/ijcrr.v9i12.633.
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This research examined the effect of infrastructure on rural transformation of Gboko local government area of Benue state, Nigeria. Both primary and secondary source of data and information were used for the study and questionnaire was used to obtained information from the primary source while journals and internet constituted secondary source of information. The population for this study is four hundred and seventy two (472) respondents from the study area. The statistical tools employed were the Pearson Product Moment Correlation Coefficients (r) to examine all the hypotheses of the study. The findings of the study indicates that a positive or direct relationship exists between Rural Transformation (RUT) and Agricultural Activities ACA in Gboko Local Government Area of Benue State and the relationship is statistically significant (p<0.01). Hence, we accept that there is relationship between agricultural activities and rural transformation. A positive or direct relationship between Rural Transformation (RUT) and Small Business Development (SBD) in Gboko Local Government Area of Benue State. The result of the study indicates that the strength of the relationship is 0.174** or 17.4% and the relationship is statistically significant (p<0.01). There is an inverse relationship between Rural Transformation (RUT) and Social Challenges (SOC) in Gboko Local Government Area of Benue State. It was concluded that infrastructure enhances rural transformation. It was recommended among others that The individual communities should come up with ideas of training their children in the small business development while at the same time reach out to the government to help with all the necessary help needed to improve the development of small business in the study area.
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Музалевский and L. Muzalevskiy. "Trust between government and business - basis of formation of business climate in the region." Journal of Public and Municipal Administration 5, no. 2 (June 28, 2016): 16–19. http://dx.doi.org/10.12737/20535.
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The article deals with the directions of the formation of business climate in the region. The presence of specific conditions and factors of development of small and medium business in the region is substantiated that involves the use of a differentiated policy of the state to create favorable business climate.
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Nuru, Naser Yenus. "Government spending multipliers over business cycle." African Journal of Economic and Management Studies 11, no. 1 (October 4, 2019): 18–29. http://dx.doi.org/10.1108/ajems-05-2019-0187.
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Purpose The purpose of this paper is to show the asymmetric effects of government spending shocks for South Africa over the period 1960Q1–2014Q2. Design/methodology/approach A threshold vector autoregressive model that allows parameters to switch according to whether a threshold variable crosses an estimated threshold is employed to address the objective of this paper. The threshold value is determined endogenously using Hansen (1996) test. Generalized impulse responses introduced by Koop et al. (1996) are used to study the effects of government spending shocks on growth depending on their size, sign and timing with respect to the economic cycle. The author also uses a Cholesky decomposition identification scheme in order to identify discretionary government spending shocks in the non-linear model. Findings The empirical findings support the state-dependent effects of fiscal policy. In particular, the effects of 1 or 2 standard deviations expansionary or contractionary government spending shock on output are very small both on impact and in the long run; and a bit larger in downturns but has only a very limited effect or no effect in times of expansion. This result gives support to the evidence in the recent literature that fiscal policy in developing countries is overwhelmingly procyclical. Originality/value It adds to the scarce empirical fiscal literature of the South African economy in particular and developing economies in general by allowing non-linearities to estimate the effect of government spending shocks over economic cycle.
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Barton, Tina. "Small Business and Social Enterprise: To Thrive Not Fail." Papers in Canadian Economic Development 18 (April 11, 2019): 17. http://dx.doi.org/10.15353/pced.v18i0.91.
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<p>Small businesses (those with up to 99 employees) are the most common business type in Canada – comprising 97.9 per cent of businesses, and contributing close to one-third of Canada’s gross domestic product (GDP). Yet a significant number of these businesses fail, with only about 50 per cent lasting at least five years, according to Industry Canada. Social enterprises – businesses that provide valuable products or services while delivering social and sometime environmental returns – struggle even more than small businesses to attract finance, grow, and sustain. What are the similarities and differences between these two groups’ needs, and how can Canada’s three levels of government and the broader business ecosystem better support small businesses and social enterprises to thrive? This paper takes a comprehensive look at key business needs, barriers to success, enabling factors, and policy incentives, drawing upon academic literature, studies and reports from the government, non-profit, and social enterprise sectors, as well as recommendations from business advocacy groups primarily from Canada and the United States. </p><p><strong>Keywords: </strong>Small business, social enterprise, business financing, business growth, business ecosystem, procurement policy</p>
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Olukoju, Ayodeji. "Anatomy of Business-Government Relations: Fiscal Policy and Mercantile Pressure Group Activity in Nigeria, 1916-1933." African Studies Review 38, no. 1 (April 1995): 23. http://dx.doi.org/10.2307/525472.
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Nwagu, Kingsley. "Impact of Socio-Economic Development on Sustainable Business Development Among Small and Medium Scale Businesses in Nigeria." TEXILA INTERNATIONAL JOURNAL OF MANAGEMENT 7, no. 2 (August 30, 2021): 46–55. http://dx.doi.org/10.21522/tijmg.2015.07.02.art006.
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This study is undertaken to investigate the impact of socio-economic development on sustainable business development among small and medium scale business in Nigeria. The significance of socio-economic development in achieving sustainable business development among small and medium scale business, especially in a developing country like Nigeria, cannot be over-emphasized. This study employed a survey research design as data were elicited from the respondents who agreed to fill out the questionnaires. In this study, several socio-economic development indicator variables such as Self-reliance in Development, Policy Delivery Mechanism, and Access to Health Facilities were employed among others. The findings elicited from this study revealed that socio-economic development recorded a positive impact on sustainable business development among small and medium scale business in Nigeria.
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Olomu, Michael Oluwaseun, Moses Clinton Ekperiware, and Taiwo Akinlo. "Agricultural sector value chain and government policy in Nigeria: issues, challenges and prospects." African Journal of Economic and Management Studies 11, no. 3 (March 16, 2020): 525–38. http://dx.doi.org/10.1108/ajems-03-2019-0103.
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PurposeThis paper systematically reviewed the contributions of the recent Nigerian government agricultural policies and the impacts on the agricultural value chain system in line with the structural transformation of the sector and the Nigeria's vision 20:2020. The study also suggest strategies to upgrading various segments of the agricultural value chain and argue that Nigeria's agricultural sector requires huge investments and innovative ideas to increase production and create value addition across the most profitable areas of the value chain.Design/methodology/approachThe authors systematically present evidences and data from the Central Bank of Nigeria (the apex monetary authority of Nigeria) and Nigerian Bureau of Statistics (oversees and publishes statistics for Nigeria) to estimate the impact of Government agricultural policies on the value chains system.FindingsThe study discovers that the various recent government policy interventions to tackle the austere challenges in the agricultural sector are yet to yield much significant solution. Given to the dwindling performance of the sector, the Nigerian agricultural value chain is somewhat affected with systemic and services gaps which underpin the market failures (missing markets and weak markets), although the agricultural value chain has the potential of triggering economic growth in a higher scale with a trickle-down effect to other sectors of the Nigerian economy.Practical implicationsOverall, the findings indicate strategies to upgrading the production and processing segments of the agricultural value chain and argues that Nigeria's agricultural sector requires huge investments and innovative ideas to increase production and create value addition across the most profitable areas of the value chain.Social implicationsThe study proves that enhancing value addition in the agricultural sector is imperative to achieving triple-benefits of increasing productivity by building resilient systems that leverage on finance opportunities, deepening economic inclusive growth and achieving great milestones.Originality/valueThis study is the first attempt to focus on agricultural value chain system in line with the structural transformation and the Nigeria's vision 20:2020.
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Kolawole, Ebire. "Impact of Monetary Policy on Small Scale Enterprises Financing in Nigeria." International Journal of Small and Medium Enterprises 1, no. 2 (July 7, 2018): 1–12. http://dx.doi.org/10.46281/ijsmes.v1i2.66.
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Small and Medium Scale Enterprises play vital roles in the economy which are usually instrumental in achieving macroeconomic goals. This has attracted the attention of monetary authorities to institute policiesto boostconducive environment for SMEs to thrive. This study therefore empirically investigates the impact of monetary policy on SMEs financing in Nigeria spanning from the first quarter of 1992 to the last quarter of 2016. The time series data were subjected to unit root test to ascertain the stationarity of the variables and thereafter, cointegration and Error Correction Model (ECM) technique were used for the analysis. The residuals of the analysis were further subjected to various diagnostics tests. The result revealed that interest rate has a positive and significant impact on the SMEs financing in Nigeria. On the other hand, inflation rate was found to have a significant but negative impact on SMEs financing in Nigeria. Money supply and exchange rate were found to be insignificant in impactingSMEs financing. Based on this finding, the study recommends that, monetary authorities should give special attention to SMEs in specific sectors by creating special windows through various financial institutions to grant low interest rate so as to grant SMEs access to funds.This will boost business growth and consequently achieve macroeconomic goals.
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Ogungbade, Oluyinka, Omowumi Olanike Oshatimi, and Adebola Daniel Kolawole. "Treasury Single Account Policy and Revenue Generation Among Federal Parastatals in Ekiti-State, Nigeria." International Journal of Financial Research 12, no. 4 (April 24, 2021): 156. http://dx.doi.org/10.5430/ijfr.v12n4p156.
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Treasury Single Account (TSA) is a new government policy to fight corruption in the Nigerian public sector. The policy has received a lot of compliments from many Nigerians; however, empirical studies have produced mixed results. The study examined the effects of Treasury Single Accounts (TSA) on the revenue generation of federal government parastatals in Ekiti state. The study specifically examined the effect of TSA on revenue generation of Federal University Oye-Ekiti, Federal Teaching Hospital Ido, Federal Road Safety Commission Ado-Ekiti and Federal Polytechnics Ado-Ekiti. Both Descriptive and inferential statistics were used. The descriptive statistics include mean, standard deviation, minimum and maximum while the study employed paired sample t-test for inferential analysis. The study reveals that TSA has not enhanced the revenue generation among federal government parastatals in Ekiti state. The research further shows that TSA is counterproductive since average revenue generated after the implementation of TSA is lower than the average revenue that the parastatals generated before the implementation of TSA. The study recommends that the federal government of Nigeria should investigate the reasons why the TSA is counterproductive in Ekiti state and adequately monitor its implementation.
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Mohammed, Sani Damamisau. "Clean development mechanism and carbon emissions in Nigeria." Sustainability Accounting, Management and Policy Journal 11, no. 3 (November 3, 2019): 523–51. http://dx.doi.org/10.1108/sampj-05-2017-0041.
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Purpose Carbon emissions from gas flaring in the Nigerian oil and gas industry are both a national and international problem. Nigerian government policies to eliminate the problem 1960-2016 yielded little or no results. The Kyoto Protocol (KP) provides Clean Development Mechanism (CDM) as an international market-based mechanism to reducing global carbon emissions. Therefore, the purpose of this paper is to analytically highlight the potentials of CDM in eliminating carbon emissions in the Nigerian oil and gas industry. Design/methodology/approach This paper reviewed the historical background of Kyoto protocol, Nigerian Government policies to eliminating gas flaring in its oil and gas industry 1960-2016 and CDM projects in the industry. The effectiveness of the policies and CDM projects towards ending this problem were descriptively analysed. Findings Government policies towards eliminating gas flaring with its attendant carbon emissions appeared not to be yielding the desired results. However, projects registered under CDM in the industry looks effective in ending the problem. Research limitations/implications Therefore, the success recorded by CDM projects has the policy implication of encouraging Nigeria to engage on establishing more CDM projects that ostensibly proved effective in reducing CO2 emissions through gas flaring reductions in its oil and gas industry. Apparent effectiveness of studied CDM should provide a way forward for the country in eliminating gas flaring in its oil and gas industry which is also a global menace. Nigeria could achieve this by providing all needed facilitation to realising more CDM investments. Practical implications CDM as a policy has proved effective in eliminating gas flaring in the Nigerian oil and gas industry. The government should adopt this international policy to achieve more gas flaring reductions. Social implications Social problems of respiratory diseases, water pollution and food shortage among others due to gas flaring are persisting in oil and gas producing areas as government policies failed to end the problem. CDM projects in the industry have proved effective in eliminating the problem, thus improving the social welfare of the people and ensuring sustainable development. Originality/value The paper analysed the effectiveness of Nigerian Government policies and an international market-based mechanism towards ending gas flaring in its oil and gas industry.