Impact of Internal Control System and Financial Performance of Small and Medium Scale Enterprises in Kebbi State, Nigeria

This study examines the role of entrepreneurial culture on performance of small and medium enterprises in Anambra State, Nigeria. The study aims to investigate the effect of entrepreneurial mindset, entrepreneurial leadership and entrepreneurial values on financial performance, marketing performance, and environmental performance. Relevant literature were reviewed. The study adopted descriptive survey research design. The survey instrument used for data collection for the study was a structured questionnaire with 5 Likert scale responses. The population of study was 2093 made up of registered small and medium scale enterprises in Anambra State, Nigeria. The statistical formula by Borg and Gall was employed to determine the sample size of 408. The instruments were subjected to face and content validity. The reliability of the questionnaire was established through the test-retest and Cronbach Alpha. Simple percentage analysis was used in the analyzing research question. Hypotheses for the study were analyzed using Linear Regression Analysis (MRA). The study revealed that entrepreneurial mindset has a significant positive effect on financial performance, entrepreneurial leadership styles have a significant positive effect on sales performance of small and medium enterprises, and entrepreneurial value has a significant positive influence on marketing performance of small and medium enterprises. The study therefore concluded that entrepreneurial culture has a significant positive effect on the performance of small and medium enterprises in Anambra State, Nigeria. The study recommended that entrepreneurship education in universities should consider teaching techniques that require students’ to have hands-on enterprise experience as well as to practice entrepreneurial directed approach in improving entrepreneurial mindset. Government should encourage the facilitation of workshops and seminars for SMEs operators in order to help their improved entrepreneurial leadership styles for better organizational performance.

Small and Medium Enterprises are backbone of the economic growth in all countries. SMEs make up a large part of Sri Lanka's economy as well. There is limited information related to the relationship between socio-economic factors and the financial performance of small and medium scale enterprises in Badulla district. Therefore, the objective of this study is to attempt to investigate how for the determinants as socioeconomic factors influencing on the financial performance of small and medium scale enterprises in Badulla district. Simple random sampling method was applied to select 100 SMEs in Badulla district. The data were collected using structured questionnaires. Univariate and multiple regression analysis were employed in data analysis. Extents of the influence of Socio-Economic factors on SMEs were measured using two groups of variables Social and Economic factors such as Access to Infrastructure, Support of Family Members, Availability of Managerial Experience, Business Information Services (Social factors) and Access to Finance, Government Policy and Regulations, Macro-Economic Indicators (Economic factors). The results suggest that Social factors are found to have high influence on the performance compared to the Economic factors on the performance of small and medium scale enterprises in Badulla District. As personal factors, Age of the owner, investment level, experience and marital status of the owner are also having influence on the performance of SMEs Badulla District. It is recommended that the government should have attention to improve IT skills of SMEs owners because, of lack of IT skills of owners. To develop SMEs and improve their managerial skills, government should implement granting credit facilities, entrepreneurship training programs, counseling services and research and development in a spread and regular basis for Badulla District SMEs.

Nano, Small and Medium size Enterprises in Nigeria are experiencing great challenges occasioned by fuel subsidy removal policy of Federal Government. The objective of this study is to examine the Impact of Fuel Subsidy Removal on the Performance of Nano, Small and Medium Scale Enterprises in Balogun Market, Lagos Island, Lagos State, Nigeria. Survey research design was used. Population consists of 11,643 registered Small and Medium Scale Enterprises (SMEs) in Lagos state. Sample size of 387 Nano Small and Medium Scale Enterprises (NSMEs) was arrived with the use of Taro Yamani formular (1967). While the respondents were selected with use of simple random sampling technique. Questionnaire was used to collect data from respondents. Results of the findings revealed that Fuel Subsidy Removal affect both Logistics and overhead costs performance of Nano, Small and Medium Scale Enterprises in Balogun Market, Lagos Island, Lagos State Nigeria. It was recommended that government should provide public transport at a reduced cost to Nano Small and Medium Scale Enterprises (NSMEs) in order to curb the effect of high logistics costs. Also, that government should implement good monetary policies that will reduce the high foreign exchange rates in order to reduce the overhead costs of Nano Small and Medium Scale Enterprises (NSMEs) in Nigeria.

This study examined the relationship between low cost strategy and Market Performance of Small and Medium Enterprises (SMEs) in South Eastern Nigeria. The work was carried out to identify the extent low cost strategy business approach has helped to achieve business goals. The design adopted was survey; and questionnaire was used as an instrument of data collection. The data collected were presented in tables and analysed using mean statistic and tested with Pearson product moment correlation coefficient (at 0.05% level of significance) through SPSS version 21.0. From the results of the test of hypotheses, it could be seen that hypothesis 1, 2, and 3 have the Pearson correlation coefficient value up to 0.80-0.89 indicating that there is very strong relationship among the variables under study. Therefore, low cost strategy has positive and significant relationship with customer acquisition, sales volume and market share in small and medium scale enterprises (SMEs). It was concluded that the achievement of improved market performance in small and medium scale enterprises (SMEs) depends on the extent of implementation of low cost strategy. The study recommends that the small and medium scale enterprises (SMEs) should intensify efforts to offer their products on low cost so as to achieve higher sales. In addition, small and medium scale enterprises (SMEs) have to adopt varying pricing strategies so as to attract different categories of customers to the business.

The fact that entrepreneurship education phenomenon has attracted enormous attention all over the world from almost all sectors is now trite knowledge. Many initiatives are taken at various levels to accommodate and ultimately generate successful entrepreneurs but at the same time, problems in entrepreneurship education phenomenon and performance of small and medium scale enterprises still remain. The aim of this paper is to empirically explore the relationship between entrepreneurship education phenomenon and performance of small and medium scale enterprises in Port Harcourt, Rivers State, Nigeria. With the aid of statistical package for social sciences version 25, data collected through primary sources were analyzed using mean, aggregate mean, standard deviation, and spearman rank correlation coefficient. Affective education was found to significantly relate to profitability in the light of which the study concludes that there exists a significant relationship between entrepreneurship education phenomenon and performance of small and medium scale enterprises. It recommends that because entrepreneurship education aims at providing expertise, entrepreneurial abilities and inspiration amongst entrepreneurs, entrepreneurship education centres for small and medium enterprises (SMEs) should be set up in Nigeria, where small and medium enterprises managers can have courses in entrepreneurship education and financial literacy. For example, if financial literacy coaching is acquired, SMEs would adopt riskier ventures, diversify investments and raise capital for growth and transformation into stronger companies.

The role Small and Medium Scale Enterprises (SMEs) can never be overemphasised in the has economic drivers in either developed and developing countries of the world. However, contract to immense contribution of SMEs to nation economic growth, most SMEs in Nigeria struggle to survive beyond five years due to poor performance. The major challenge SMEs in Nigeria include developing creative ways of acquiring resources in non-traditional ways cum cost of doing business which to greater extent affect SMEs performance. Thus, this study investigated the effect of Bootstrapping dimension moderated by cost of doing business on the performance of Small and Medium Enterprises in South-West, Nigeria. The study adopted survey research design and the population of the study comprised 14, 527 owner/managers of small and medium scale enterprises (SMEs) enterprises in Lagos and Oyo States. The study utilized stratified simple random sampling technique with a sample size of 750 owner/managers of SMEs determined using Cochran’s (1977) formula and data were analyzed using regression analyses. The findings revealed that cost of doing business (β = 0.003, ΔR2 = 0.021, ΔF = 14.820, p < 0.05) significantly moderated the effect of bootstrapping measure by owner’s financing, subsidy financing, delayed payment, joint utilization, and social capital on the performance of SMEs in South-West, Nigeria. The study concluded that bootstrapping improved performance of SMEs in South-West, Nigeria, cost of doing business significantly moderated effect of bootstrapping on the performance of SMEs in South-West, Nigeria. It was recommended that management of small and medium scale enterprises in South-West, Nigeria should pay more attention on subsidy financing, delayed payment, social capital with less attention on joint utilization in order to improve their performance. Keywords: Cost of Doing Business, Delayed Payment, Joint Utilisation, Owner Financing SME Performance, Social Capital, Subsidy Financing

The study analyzed whether the Naira note redesign matters for the performance of small and medium-scale enterprises in Nigeria. The study sought to examine (1) effect of the Naira note redesign on the performance of small and medium-scale enterprises; (2) effect of circulation of the new Naira notes on the performance of small and medium scale enterprises; (3) effect of Naira scarcity on the performance of small and-medium scale enterprises. The survey design was used, and questionnaire was administered to three hundred forty-seven (347) small and medium-scale enterprises in the south-east of Nigeria. Data obtained were analyzed using descriptive statistics (simple percentages, frequency count, mean, standard deviation, kurtosis, skewness, Pearson correlation) and inferential statistics (multiple regression). Findings showed that Naira note redesign has a significant negative effect on the performance of small and medium-scale enterprises. In addition, it was shown that the circulation and scarcity of the new naira notes had a significant effect on the performance of small and medium-scale enterprises in Nigeria. The study recommends that the government should implement currency revaluation and single exchange rate regime, as these would help in stabilizing exchange rates, and reduce uncertainties linked to small and medium-scale enterprises, improve competitiveness, and boost their confidence. Also, governments at all levels should invest in infrastructure, digital training, and enabling regulatory environments to encourage small and medium-scale enterprises to incorporate digital transformations and resilience in their operations, as it would enhance growth and development of small and medium-scale enterprises.

The relevance of small and medium enterprises to growth and development of any nation’s economy cannot be over-emphasized. Small and medium enterprises development through effective means of bank financing have brought about debate and increase in interest among researches, policy makers and entrepreneurs, which have led to issues being raised in identifying the large impact of the sub-sectors to economic growth. Small and medium scale enterprises make up the basis of industrial growth and development. The issues of microfinance bank financing are an issue that has to be treated with much importance as previous evidence shows that finance contributes to about to 25% of the success of small and medium enterprises. In order to evaluate the impact of microfinance banks on the performance banks on the performance of small and medium scale enterprises in Nigeria, questionnaires were administered to SMEs operators and microfinance bank officials. This research project had certain objectives which was achieved through the two hypotheses that were tested and questions that will be asked after which conclusion were be drawn and recommendation given. This research project made use of primary data. The conclusion has drawn at the end of this research shows that there is a significant relationship between microfinance bank and SMEs. To foster economic development, microfinance should effectively and efficiently fund small and medium scale enterprises in Nigeria an economy.

It is the intention of this study to ascertain if SERVQUAL model can serve as an instrument for measuring performance of small and medium scale enterprises in Nigeria. The study adopted the Kano model as the theoretical framework. Empirical works on service quality and customer satisfaction were reviewed. Survey research design was adopted and conducted with the use of structured questionnaire designed in a 5 point likert scale format ranging from strongly agree, agree, strongly disagree, disagree and undecided. Twelve (12) small and medium scale enterprises operating in six geo-political zones of Nigeria were judgmentally selected, from where a sample of 60 was drawn using Taro Yamane formula. The questionnaire was validated and its reliability established. Data presentation and analysis was carried out using tables and simple percentages. Chi-square statistic; a nonparametric technique was employed in the test of the three hypotheses formulated to guide the study. This led to rejection of the three null hypotheses indicating that: Service quality dimensions has relationship with performance of small and medium scale enterprises; tangibility, reliability, responsiveness, assurance and empathy services can be used to measure performance of small and medium scale enterprises. This justifies that SERVQUAL dimensions; tangibility, reliability, responsiveness, assurance and empathy are indicators of customer satisfaction, implying that they can be employed as performance evaluation tools for small and medium scale enterprises. It is recommended that small and medium scale enterprises should direct their operations in line with SERVQUAL dimensions, if they want to achieve customer satisfaction and business performance.

The study examined the effect of supply chain public relations management practices on business performance of small and medium scale enterprises in Calabar, Cross River State. In the course of the study four hypotheses where formulated, data were collected from management staff of small and medium scale enterprises in Cross River State using structured questionnaire. The data were analysed utilizing inferential and descriptive statistics. Findings from the study revealed that the dimensions of Supply chain public relations management practices have a favourable and positive effect on small and medium scale enterprises in Calabar, Nigeria. On the basis of the findings, it was concluded that if supply chain public relations management practices activities are well implemented, there would be an improvement in business performance of small and medium scale enterprises. We recommended that supply chain public relations managers should develop strategies that will enhance their relationships with other stakeholders to improve on their business performance.

The purpose of this study was to examine the effect of business financing on the financial performance of small and medium enterprises in Turkana County, Kenya. Specifically, the study: examined the effect of commercial loan financing on the financial performance of small and medium enterprises; established the effect of trade credit financing on the financial performance of small and medium enterprises in Turkana County. A descriptive survey research design was used. The study was anchored on the information asymmetry theory and the financial intermediation theory. The target population comprised 325 small and medium enterprises in Turkana County. Stratified random sampling was used to select 83 small and medium enterprises for the study. The study used questionnaires as survey instruments for data collection which were administered to group chairpersons/ managers. Analysis of data was done using descriptive and inferential statistics. The study findings revealed the existence of a statistically significant regression effect of independent variables on financial performance of Small and Medium Enterprises in Turkana County. The study employed the F-distribution (F = 32.980) in predicting the dependent variable which indicated that the model significantly predicted how the independent variables affected the dependent variable (Financial Performance of Small and Medium Enterprises in Turkana County) which indicated an overall statistically significant model with commercial loan financing 54.9%, (t~3.056) of financial performance; and trade credit financing 67.2% (t~4.381) of financial performance of small and medium enterprises in Turkana County, Kenya. The study further recommended on each of the variables for management and policy consideration in future decision-making processes. The findings were expected to be of great assistance to management of other businesses. The study was also expected to add to existing literature in the finance field. Keywords: Business Financing, Financial Performance, Commercial Loan Financing, Trade Credit Financing

This study was carried out to investigate the analysis of the impact of strategic management on the business performance of selected small and medium enterprises in south-south Nigeria.. The study is anchored on resource based and the contingency – based theories. The population of the study comprised of 1200 owners of small and medium enterprises while the sample size is made of 300 owners and operators of small and medium enterprises of the selected small and medium enterprises operating in south-south Nigeria through the aid of Taro Yamane’s formula multiple regression analysis was used to analyze the data generated. It was discovered that, strategic management has a significant positive impact on the level of competition,enterprises effectiveness, financial performance and market share of small and medium scale enterprises in south-south Nigeria. The study therefore concluded that strategic management has significant impact on Business performance in south-south Nigeria. Based on the findings and conclusion of the study, it was recommended that for small and medium scale business to succeed, it has to have a real and noble plan which will enhance the growth of their businesses, ensuring that small and medium scale businesses have vision of what they hope to achieve, proper implementation of business strategy, and small and medium enterprises in Nigeria acquiring more knowledge on the application of strategic management

Over the past few decades, the researchers demonstrate consistent effort in investigating the Small and Medium scale Enterprises (SMEs). This sector plays a crucial role in the economic growth in both developing and developed countries. The research investigated how accounting practices influence the organizational performance of small and medium scale enterprises in Sri Lanka. Accounting practices consists of record keeping, budgeting practices and payroll accounting whereas organizational performance is measured by organizational goal achievement, organizational effectiveness and organizational efficiency records. A structured questionnaire was used to collect the primary data from 75 SMEs which were selected by means of the random sampling technique. The results revealed that among the accounting practices, only record keeping and budgeting practices have significant positive influence on organizational performance of Small and medium enterprises in Sri Lanka. It can be recommended that academic institutions and other bodies which are responsible for SMEs should organize training programmes for those operators who do not have the technical knowhow in the field of accounting to come to grips with it and also provide some SME-specific accounting guidelines and template forms for capturing accounting practices for the operators to use. JEL Classification: M41.

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.

Record keeping plays a vital role in development by providing recorded information which is crucial in the strategic formulation of national development policies and plans. The purpose of the study is to examine the influence of record keeping practices on the business performance of small and medium scale enterprises in Sri Lanka. Record keeping practices consists of proper accounting records, preparation of accounting records and accounting records procedures whereas business performance is measured by organizational goal achievement, organizational effectiveness and organizational efficiency records. A structured questionnaire was used to collect the primary data from 75 SMEs which were selected by means of the random sampling technique. The results reveal that record keeping practices have significant positive influence on business performance of Small and medium enterprises in Sri Lanka. It can be recommended that academic institutions and other bodies which are responsible for SMEs should organize training programmes for those operators who do not have the technical knowhow in the field of accounting to come to grips with it and also provide some SME-specific accounting guidelines and template forms for capturing accounting practices for the operators to use.