Government Funding Schemes and Small and Medium Enterprise Performance in Nigeria

Small and medium enterprises (SMEs) are imperative for the growth of a striving economy because they cater for a huge level of manpower and vast resources. Therefore, it is essential that their stability and performance should be ensured in order to promote the economic growth of Nigeria. SMEs are pronged to unsecured financial risk, which can lead to the collapse of the enterprises. Various studies have been done on the small and medium enterprises’ contribution to the Nigerian economic growth, but only few have addressed how financial risks affect it. This study aims to investigate how financial risk affects SMEs` performance. In other to achieve this exploratory research design was used and data were sourced from Central Bank of Nigeria (CBN) statistical bulletin from 1986 to 2017. The study uses autoregressive distributed lag (ARDL) techniques as the tool of analysis. It reveals a negative and insignificant relationship between financial risk and SMEs` performance in Nigeria in the long run. However, exchange rate risk, liquidity risk, interest rate risk and inflation risk have a significant, but negative impact on small and medium enterprises in the short run, as well as the long run. Financial risk adversely affects the performance of Nigerian SMEs and, therefore, should be controlled to enhance their performance.

This study examined the impact of employment generation, insecurity, and the cashless monetary policy on the performance of small and medium enterprises (SMEs) in Nigeria. Using data obtained from the Central Bank of Nigeria and the National Bureau of Statistics covering the period 2004–2021, multiple regression and correlation analyses were applied. The regression results revealed that employment generation has a strong positive and statistically significant effect on SMEs, insecurity exerts a negative and insignificant influence, while the cashless policy measured through Point of Sale (POS) transactions also shows a negative but insignificant effect. The model explained 86.94% of the total variation in SME performance. The findings indicated that employment generation is the major driver of entrepreneurial growth, whereas insecurity and the cashless policy implementation have not yielded significant improvement. The study recommends a more secured business environment, better enforcement of digital transaction policies, and stronger job creation initiatives to enhance SME performance in Nigeria.

This study aims to determine the Determinants of the Performance of Small and Medium Enterprises (SMEs) in Barru Regency. The method used in this study is a quantitative approach and the type of research conducted is survey research. The population used is Small and Medium Enterprises in the manufacturing industry sector in Barru Regency, which is 1672 business units. The number of samples is 94 small and medium enterprises. The data sources used are primary data and secondary data. Analysis of the data used is multiple linear regression analysis. The results of this study indicate that the aspects of finance, environment, marketing, human resources, entrepreneurial ability and economic aspects have a positive and significant effect on the performance of small and medium enterprises in Barru Regency. The greater the equity, loan capital, the level of profits and capital accumulation, the greater the performance of small and medium enterprises. The better the technology and quality control, the availability of business places, government policies, seasons and infrastructure, the better the performance of small and medium enterprises. The more market demand, the better competing pricing, promotion, distribution channels and marketing areas, the better the performance of small and medium enterprises. The better the level of formal education, leadership, experience in business and the amount of motivation and skills in the performance of small and medium enterprises. The greater the desire for achievement, personal responsibility, management ability and innovation ability, the better the performance of small and medium enterprises. the higher the level of income of the community, the availability of jobs, a business climate and good investment and the better the economic growth, the better the performance of small and medium enterprises.

This paper studies the effect of globalization on small and medium enterprises (SMEs) performance in Nigeria. The study adopts an ex post-facto type of descriptive research design. In carrying out this study, the secondary statistics data was used. Data was extracted from CBN bulletin on relevant information which depicts globalization and its effect on SMEs performance in Nigeria.A co-integration model was used to investigate the effect of globalization on SMEs performance in Nigeria. To capture the activities of globalization, three proxies were used to capture the activities of globalization; they include interest rate, bank credit and trade openness while on the other hand, output of SMEs to GDP was used to capture SMEs performance covering the period of 1992 to 2014. It was observed that interest rate, bank credit and trade openness do not improve the performance of SMEs output. The overall effect as shown by the F-statistics reveals that the variables considered in this study are not significant in explaining the level of improvement in SMEs output and performance in Nigeria.

NOTE: THIS ARTICLE WAS PUBLISHED WITH THE INFORMING SCIENCE INSTITUTE. Aim/Purpose................................................................................................................................................................................................. The study seeks to examine the strategic interventions needed to promote the performance of small and medium enterprises (SMEs). Specifically, it analyzed the relationship between organizational learning, cultural values and SMEs performance. Background................................................................................................................................................................................................ The performance of SMEs has been identified as one of the most important success factors behind growth, development and industrialization of nations. In anticipation of such outcome, SMEs have been given adequate attention in emerging economies such as Nigeria but it has performed below expectations. Existing studies noted that business organizations are able to develop by employing strategic management interventions. Strategic interventions involve a deliberate attempt to move organizations towards a more effective state and improve performance. The expected components of strategic interventions needed to achieve the expected change in performance of SMEs are organizational learning and cultural change. However, there has not been a complete research outcome on the relevance of organizational learning and cultural change to SMEs performance in Nigeria. Therefore, the main research question is; whether organization learning and cultural values contribute significantly to SMEs performance. Methodology................................................................................................................................................................................................ In this study, the researcher employs quantitative research methods. Structured questionnaires are used to collect primary data. The study uses data set of 571 owners/managers of registered SMEs with the Ministry of Commerce and Trade in the study area. The structural equation modeling (SEM) was performed to address the research objectives. Contribution................................................................................................................................................................................................ The study provides useful information to understanding the path to achieving SMEs performance through application of strategic interventions approach. It highlights the relevance of organizational learning to improving market share and profit in the small and medium enterprises sector. Findings..................................................................................................................................................................................................... The findings indicate that organizational learning can positively boost performance of the SMEs but cultural values, though covaried with organizational learning do not add to performance outcome of the SMEs. The organizational learning is found to play the direct role of boosting performance through team learning, empowerment, embedded system, inquiry and dialogue and continuous learning respectively. Recommendations for Practitioners............................................................................................................................................................ Increasing performance of small businesses that impact on overall development is a considerable challenge. Consequently, the study highly recommends integration of strategic intervention that is anchored on organizational learning constructs for satisfactory outcome in the SMEs. In achieving this, less emphasis on cultural values may be useful. Recommendation for Researchers............................................................................................................................................................... It is suggested that this type of study needs to be conducted in public-owned establishments and business corporations with large business structure. This may help to further establish the theoretical relevance of strategic interventions to SMEs performance across various dimensions of business forms and organizations. Impact on Society.......................................................................................................................................................................................... The findings provide adequate pathway to societal development through SMEs. For the expected growth of society to emerge through investments in SMEs, stakeholders in the society should take advantage of information embedded in strategic interventions in their performance drive. Future Research.............................................................................................................................................................................................. The study outcomes are much relevant to developing economies in need of small and medium business interventions to tackle growth, unemployment and societal development. Future research, especially in developing and emerging economies may explore the relevance of the approach to boosting small business in their area. The specific contribution of cultural values in that context may be tested.

Technology adoption plays an important role in competing and creating opportunities in business nowadays. Mobile Banking has changed the way the banking industry and business interact. Mobile Banking is an alternative business strategy for businesses to survive in an increasingly competitive business in today's digital era. This study will focus on adopting Mobile Banking technology and its role to improve the performance of Micro, Small and Medium Enterprises (MSMEs) by adapting the Technology Acceptance Model concept using several indicators from various previous studies which consist of Perceived Ease of Use, Perceived Usefulness, Social Norms, Perceived Risk, Relative Advantages, Personal Innovativeness and Cost as indicators. The study involved 278 Micro, Small and Medium Enterprises (MSMEs) in Makassar City by using a self-administered questionnaire, which was determined using the Purposive Sampling method. The result shows that simultaneously all indicators of the construct of Technology Acceptance Model had a positive and significant influence on the performance of Micro, Small and Medium Enterprises (MSMEs) in Makassar City. Furthermore, partially each indicator shows a positive and significant influence and personal innovativeness is the most dominant indicator in influencing Micro, Small and Medium Enterprises (MSMEs) performance. The findings of this study are expected to enrich the study related to the topic of Technology Acceptance Model in Mobile Banking and its relationship to improving the performance of Micro, Small and Medium Enterprises (MSMEs).

The purpose of the study was to assess the effects of microcredit on Micro, Small and Medium Enterprises (MSMEs) performance in Tanzania, with reference to selected MSMEs in Iringa Municipality specifically, to examine the contribution of the loan amount on the performance of MSMEs, to examine the influence of interest rate on the performance of MSMEs and to determine the effect of initial capital on the performance of MSMEs. The targeted population was 874 MSMEs benefiting from microcredit services from Iringa Municipality, where a sample size of 274 MSMEs was drawn. A descriptive research design was employed, and a quantitative approach was applied to analyse data. Stratified sampling technique, simple random technique and Convenience sampling technique were used to select loan benefiting. The findings revealed that loans benefiting MSMEs at Iringa Municipality receive loans from financing institutions and use them to improve performance. Moreover, the study found that interest rate has no statistically significant on the performance of MSMEs in Iringa Municipality. In addition, findings revealed that there was statistical significance in the effects of initial capital on the performance of MSMEs. In the case of the normal regression output, the adjusted R2 equals 0.698, implying that the model explains about 69.8% variations in MSMEs performance. The study recommends that the Government should ensure that MSMEs receive appropriate loan amounts and should take proactive measures to regulate interest rates on microcredit loans. MSMEs should have a clear strategy for how these funds will be used. Financing institutions should recognise that loan provisions to MSMEs should be based on the specific needs of the business. Also, they should provide micro-loans at competitive rates that balance affordability for MSMEs and sustainability for the institution. For further studies, the researchers should conduct similar research in different regions or countries that will allow scholars to ascertain the general ability of the findings. Also, the researchers should conduct longitudinal studies that can provide invaluable insights into the long-term effects of microcredit on MSMEs’ performance

Small and medium enterprises (SME) performance forms a very important part of the Nigerian economy.The SME sector is a major engine which encourages the growth of jobs and wealth creation in the country's economic system.SMEs performance act as a significant part that is linked to the strengthening and enhancement of the development of the country.The SME performance and growth in manufacturing, agriculture, services, and so on, has been considered as the engine drive and has contributed to the Nigeria economy.Sustainable growth and the increase of SME performance, competitiveness will open numerous doors for employment opportunities, tangible and intangible assets (investment) in the environment.The SME sector has developed rapidly over these years.The major aim of this paper is to look into the SME sustainable competitive advantage and emphasis on its growing importance.Likewise, some guidelines were offered in order for SMEs to reach performance and competitive advantage.In a wider perspective, this paper would provide some available conclusions and concrete recommendations.Besides, this work will serve as an information cause that will promote and orient SMEs performance towards competitive advantage.Through this way, it will contribute to the continuous promotion and active growth of SMEs, as easily to increase the level of the firm's performance and business competitiveness in Nigeria.

Developed countries understand the importance of small and Medium Enterprises (SMEs) in their contribution to economic growth. By using the concept of cultural values Catur Purusa Artha which is the four most important life goals for Balinese people who have Hindu beliefs, should be used as moral guidelines that will affect the business performance of small and Medium Enterprises and entrepreneurship Orientation behavior. This study was conducted to determine and analyze the effect of Entrepreneurship Orientation on the business performance of small and Medium Enterprises and how the role of Entrepreneurship Orientation in mediating the relationship of Catur Purusa Artha with the business performance of small and Medium Enterprises. The population of the study is the owner or managers of small and Medium Enterprises in Bali Province in 2022 amounted to 61,862 SMEs, and of these samples were conducted with the Slovin approach as many as 397 units of SMEs. The data analysis technique is done by the SEM-PLS method. The results found that applying the cultural values of Catur Purusa Artha can have a direct (positive) effect or can increase the business performance of small and Medium Enterprises and Entrepreneurship Orientation. So, doing Entrepreneurship Orientation will also be able to directly affect the performance of small and medium business performance. If doing Entrepreneurship Orientation can also mediate the relationship of Catur Purusa Artha with the business performance of small and Medium Enterprises.

Micro, Small, and Medium Enterprises (SMEs) are currently the largest segment of national economic actors. Small industry plays an important role as a tool for the community as a solution to survive the economic crisis. SMEs can help the government to reduce the number of unemployed. So that in Indonesia, small businesses are often associated with government efforts to reduce unemployment, fight poverty and equalize income. Many products produced by MSMEs are currently able to compete in the domestic market. Some MSMEs still have various external and internal weaknesses, such as being less creative and innovative in creating new products, and not knowing what the market needs. The purpose of this study is to determine whether product, price, promotion, and location have a joint effect on the marketing performance of Micro, Small, and Medium Enterprises. This study used a quantitative approach and the sample this study was only taken from as many as 80 UMKM consumers. The data analysis technique used is the validity test, reliability test, normality test, linearity test, and homogeneity test. Testing the analytical model in this study using multiple linear regression analysis, t-test, f test, and r determination. Based on the results of the study using the t-test, it was found that the product had a significant effect on the marketing performance of Micro, Small, and Medium Enterprises, the price had no significant effect on the marketing performance of Micro, Small and Medium Enterprises, the promotion had no and no significant effect on the marketing performance of Micro, Small and Medium Enterprises. , location has a significant effect on the marketing performance of Micro, Small, and Medium Enterprises. From the f test, it is found that product, price, promotion, and location together have a significant effect on the marketing performance of Micro, Small, and Medium Enterprises.

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,

Orientation: This study explored the composite business success index (CBSI), a novel framework designed to enhance small and medium enterprise (SME) competitiveness in South Africa by integrating financial and cultural metrics. Research purpose: The aim was to introduce CBSI as a tool for assessing small and medium enterprise performance, combining financial indicators like the cash conversion cycle (CCC) and Altman Z-score with cultural metrics such as the Configurational Accuracy Score for a more holistic evaluation. Motivation for the study: Small and medium enterprises in South Africa face significant challenges, including financial instability and misalignment of organisational culture. Existing performance models often fail to address these non-financial factors, which CBSI integrates into one evaluative tool to improve both financial health and cultural alignment. Research design, approach and method: A pragmatist research approach integrated quantitative and qualitative methodologies, including financial data from small and medium enterprise statements, semi-structured interviews with small and medium enterprise owners and experts and questionnaires to collect cultural data for insight into the role of culture in small and medium enterprise success. Main findings: Composite Business Success Index proved effective in predicting small and medium enterprise performance. Higher CBSI scores (> 0.65) were associated with successful small and medium enterprises, while lower scores (< 0.50) indicated areas for improvement, highlighting the link between financial stability and organisational alignment. Practical/managerial implications: The CBSI offers small and medium enterprise leaders actionable insights for enhancing financial performance and organisational culture, boosting competitiveness and long-term sustainability. Contribution/value-add: By integrating both financial and cultural metrics into a single framework, the CBSI provides a novel tool for assessing and developing small and medium enterprise performance for the small and medium enterprise managers.

Business ecosystems play a crucial role in shaping the performance of micro, small, and medium enterprises (MSMEs). Through enhanced innovation, social networks, and collaboration, MSMEs can harness these dynamics to gain competitive advantages, leading to improved performance and sustainable growth. The study examined the relationship between business ecosystem and micro, small and medium enterprises (MSMES) performance. A sample size of 260 was determined with Taro Yamane’s sample size determination. However, 247 responses were valid and used for the data analyses, with the Pearson Product Moment correlation inferential statistical tool. Findings showed a significant relationship between business ecosystem and innovation within MSMEs (r = 0.620, N = 247, p < 0.05). Results obtained also revealed that there is a significant relationship between business ecosystem and innovation within MSMEs (r = 0.620, N = 247, p < 0.05), while the same variability of data points amongst the variables were indicated and revealed that there is a significant relationship between MSMEs with effective social networks and business ecosystem (r = 0.646, N = 247, p < 0.05). Finally, the correlation of coefficient obtained with p-value < 0.05 revealed a significant relationship between collaboration improved MSME growth and performance (r = 0.99, N = 247, p < 0.05). The study therefore concluded that a robust business ecosystem, effective social networks, and strategic collaboration are crucial for driving MSME innovation, growth, and competitive advantage. The study recommended that MSMEs should engage in business ecosystems to access resources, networks, and collaboration opportunities. This enhances innovation, operational efficiency, and strategic positioning, allowing them to stay competitive and drive business growth.

The examined the impact of fiscal policy on manufacturing sector growth in Nigeria from 1985-2022. The study used government expenditure on manufacturing sector using grants from bank of industry (BOI), government tax revenue on manufacturing sector as indicators of scal policy while manufacturing sector performance was measured by manufacturing sector share of output. The research utilized time series data obtained from the central bank of Nigeria (CBN) statistical bulletin, the world development indicators (WDI) of the world bank and Bank of industry (BOI). The data analysis method utilized ADF unit root testing, ARDL bound co-integration. The outcome of ADF unit root testing indicated the presence of a combination of integrated of order zero (O), integrated of order one (1). The ARD'L bound co-integration revealed the presence of a long-term link among manufacturing sector output, grants from bank of industry, as government expenditure and government tax revenue. All these contribute slowly in Nigeria. The study concluded that government expenditure should be improved upon. The study suggests that the government should prioritize grants from bank of industry in order to enhance its performance.

Small and medium enterprises (SMEs) are vital for achieving sustainable development. However, it remains unclear whether engagement in international trade-oriented policies improves SMEs operations, particularly in Africa, where concluded arrangements are made to partake in the African Continental Free Trade Agreement (AfCFTA). This study examined the role of trade liberalization on SMEs performance in Nigeria using the Central Bank of Nigeria’s statistical bulletin and the World Development Indicators from 1981 to 2019. The ARDL model showed that a 1% rise in trade openness improves SMEs performance by approximately 2% but only in the short run. For the control variables, a 1% increase in labor force participation reduced SMEs performance by about 6% in the short run and increased it by approximately 9% in the long run. The results also showed that a 1% rise in gross fixed capital formation in the short run reduced SMEs performance by approximately 5%. The results showed an inconclusive short-run effect of the exchange rate and taxes on SMEs performance. With a 1% increase in the exchange rate, SMEs performance improved by approximately 0.04% in the long run. Similarly, a 1% increase in taxes improves SMEs performance by approximately 2.90% in the long run. Findings suggest a positive effect of trade liberalization on SMEs performance and support the operation of AfCFTA in achieving sustainable development. Policy efforts should focus on productive investment strategies and using locally sourced inputs to raise the competitiveness of SMEs.