Entrepreneurship Development and Micro, Small and Medium Business Enterprises Capacity Building in Nigeria

Abstract

This study explores the impact of training programs and challenges faced by enterprise support organizations on the perception and development of Micro, Small, and Medium Enterprises (MSMEs) in Nigeria. The research design adopted a quantitative survey approach, with structured questionnaires administered, with a population of over 80,000 Micro, Small, and Medium Enterprises (MSMEs), resulting in a sample size of 426 respondents derived through convenience sampling. Data collection involved various channels, including online platforms and in-person interactions, with responses analyzed using SPSS version 26. The analysis utilized techniques such as regression analysis and correlation to examine relationships between variables. The findings reveal that capacity-building and training programs significantly influence the perception of Micro, Small, and Medium Enterprises, with regression analysis demonstrating their positive impact on enhancing managerial skills among owners and employees. Conversely, challenges in adopting innovative technologies emerged as significant barriers, negatively affecting enterprises’ perceptions. Addressing these challenges, including limited access and resistance from employees, is crucial for fostering a conducive business environment. Moreover, the study tested hypotheses regarding the effectiveness of capacity-building programs and perceived innovation effectiveness, highlighting their positive influence on enhancing managerial skills within the Micro, Small, and Medium Enterprises sector. These findings underscore the importance of targeted training initiatives and policies that promote innovation adoption to drive Micro, Small, and Medium Enterprises growth and sustainability. The implications of these findings extendenterprises and policymakers, emphasizing the need for accessible training programs and supportive frameworks for innovation adoption. Recommendations include strengthening partnerships between Micro, Small, and Medium Enterprises and government agencies, fostering an enabling entrepreneurship ecosystem, and integrating technological advancements into these enterprises’ operations. Addressing challenges in accessing training and adopting innovative technologies is crucial for enhancing the competitiveness and resilience of Micro, Small, and Medium Enterprises in Nigeria. By implementing targeted strategies and policies, stakeholders can empower enterprises to contribute significantly to the nation’s economic development and overall prosperity.