Abstract
The article examines the Impact of Customer Satisfaction on the Business Performance of SMEs in Nigeria. The relationship between customer satisfaction and business performance is an important relationship for the development and growth of any nation's economy. The survey design method was applying for the study with its population being drawn from customers and staff in the organization with its outcomes results showing a greater significant relationship between customer satisfaction and business performance but recommended that financial supports to SMEs' will increase customer satisfaction. The survey research design was used as the data used in this research were collected from primary sources i.e. both primary and secondary sources. The primary data were gathered through the use of a structured questionnaire and about one hundred (100) questionnaires were administered to select registered SMEs for responses within. This study concludes that customer satisfaction in business is positively affected by business performance. As profitability is the ability of an organization to earn a return on the resources invested which remains the main key to measure the overall position and performance of the business enterprise.
Highlights
At all levels in Nigeria government from Local to Federal the contribution of small-scale businesses to the development of Nigeria economy and any other economy has been widely recognized because of their capacity in enhancing industrial output and human welfare
Small and medium entrepreneurships in Nigeria is facing a lot of problems ranging from government policies, These problems no doubt adversely affect the customer satisfaction on business performance of Small and Medium Scale (SMEs)
Survey questionnaire was used to collect data from two hundred and thirty sample of SMEs under study, and the data collected was analyzed by SPSS and logistic regression Analysis was employed to measure the determinants of SMEs whereby internal and external factors which involve risk taking, communication business skills, ability to Make decision, management skills, finance, government policies, corruption, marketing information communication technology, and infrastructure all influence performance of SMEs
Summary
At all levels in Nigeria government from Local to Federal the contribution of small-scale businesses to the development of Nigeria economy and any other economy has been widely recognized because of their capacity in enhancing industrial output and human welfare. The most at time utilizes on-local raw materials in carrying out their production Judging from this present democratic rule, small scale businesses have contributed to the reduce unemployment in one way or the other (Olatunji and Gbenga, 2017). Customers are justifications for organization’s continuous existence and by extension responsible for achieving profitable performance To this end, the challenge to retail banking would be to deliver value and satisfaction to the target customers (Kotler & Keller, 2016). Small and medium entrepreneurships in Nigeria is facing a lot of problems ranging from government policies, These problems no doubt adversely affect the customer satisfaction on business performance of SMEs. The SMEs in Nigeria at present is undergoing a hard time due Covid- i19 pandemic with inadequate finance, lack of technical and managerial manpower to manage them.
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