Promotional Strategies as Determinant of Small and Medium Scale Enterprises productivity in South-West, Nigeria

Abstract

This study examined the promotional strategies as determinant of small and medium scale enterprises productivity in South- West, Nigeria. Specifically, the study determined the views of SME owners in South-West Nigeria on: promotional strategies and small and medium scale enterprises productivity. Also, the effect of location on productivity of SMEs in South-West, Nigeria. This study adopted the descriptive survey research design. This design allowed the researcher to collect information from owners and managers of Small and Medium Enterprises that were considered being a true representation of the population of the study. The total population for the study comprised 26,744 business owners/managers of registered small and medium scale businesses in six states (Lagos -11,663; Ogun - 1,794; Osun - 7,987; Ekiti - 1,029; Ondo -2,272 and Oyo - 1,999) in South West, Nigeria (National Bureau of Statistics, 2015). A sample of 1,446 business owners/managers was used for the study (this comprises 1,363 small enterprises owners and 83 medium enterprises owners). This study had revealed that there was a significant effect on small and medium scale enterprises productivity in South-West, Nigeria. There was a significant difference in SMEs productivity based on locations in South-West, Nigeria. Based on the outcome of this research, this study recommended that owners/managers of small and medium scale enterprises should endeavor to utilize various promotional strategies that is best applied to their environment in order to enhance productivity.