Medium Enterprises In Nigeria Research Articles

The Impact of Financial Reporting on Investment Decision of Small and Medium Enterprises in Nigeria: A Case Study of Small and Medium Enterprises in Delta State, Nigeria

This study examines the impact of financial reporting on investment of small and Medium Enterprises in Delta State, Nigeria. The study employed descriptive survey research design. A sample of 398 SMEs was employed for the study using simple random technique. Data collected was analyzed using correlation and chi-square technique. The results show that SMEs in Delta State do not use financial reporting in their decision making process. Besides, most of them do not even have adequate knowledge of financial reporting. The study therefore recommends that managers of SMEs should be trained on the use and preparation of financial reports by the various SMEs to enable them be able to use financial reports in their decision making process.

Micro, Small and Medium Enterprises in Nigeria: Trend Analyses of Growth, Contributions and Challenges using SMEDAN and NBS Survey Reports

Micro, Small and Medium Enterprises in Nigeria: Trend Analyses of Growth, Contributions and Challenges using SMEDAN and NBS Survey Reports

Impact of solar energy subscription on the market performance of micro, small & medium enterprises in Nigeria

Access to clean, affordable and reliable energy is a major developmental challenge in Africa. The present study investigates the determinants and impact of adopting solar energy on Micro, Small & Medium Enterprises (MSMEs) market performance in Lagos, Kano and Ondo states in Nigeria using survey data from 700 MSMEs. We estimated the average treatment effect on the treated (ATT) and average treatment effect (ATE) of adopting solar energy on MSMEs’ income. The findings indicate that adoption of solar energy is associated with an increment in MSMEs’ monthly earnings by 27% (nearest neighbor matching), 24% (Kernel matching) and 23% (radius matching). The study points out that powering MSMEs through solar energy decreases their energy expenditure. By adopting solar energy, MSMEs using the national grid and standby generators can cut down their average monthly energy expenditure by 36.64%. MSMEs’ decision to adopt solar energy is influenced by trade-offs between the possible production, economic and environmental effects as well as business owners, business, and product characteristics. To the extent that governments, non-governmental organizations and policymakers are committed to providing reliable, cheaper and cleaner energy systems, they must raise broader awareness of the potential benefits of adopting solar energy.

Impact of capital Structure on Innovation and Performance of Small and Medium Enterprises in Nigeria: A study of the sector in the North Central States

The issue of capital structure of Small and Medium Enterprises (SMEs) and the impact of each component on the innovation and performance of the sector in Nigeria has been lingering. A number of studies have been done on financial leverage businesses but none on SMEs in Nigeria. The aim of this study therefore is to examine the impact of capital structure on innovation and performance of SMEs in Nigeria: A study of the sector in the North Central States of the country. Random sampling technique was adopted and data were sourced primarily from 480 respondents comprising owners and managers of 127 SMEs operating in Plateau, Nasarawa, and Kogi States in the Central Zone of the country. Responses to the questionnaire designed to reflect five points Likert scale were analysed using Partial Least Square Structural Equation Modelling (PLS-SEM). Results indicated that Crowd Funding (CF) an external sources of finance has the most significant impact on the innovation and performance of these enterprises. The study recommended that while SMEs operators should develop a platform for exchange ideas on financing sources available to the sector, Enterprise Development Agency of Nigeria (SMEDAN), the regulatory authority of the sector in the country should develop programmes to encourage innovative ability of the operations of enterprises.

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

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.

Infrastructures, Taxation and Performance of Small and Medium Enterprises in Nigeria: Evidence from Calabar Metropolis.

This study examined the effects of infrastructural development and taxation on the performance of micro and small enterprises in Calabar Metropolis. The study adopted the survey design. The sample of the study was 370 micro and small enterprises in Calabar Metropolis, the instrument of data collection were the questionnaire and the data collected was analyzed using the chi-square technique. From the chi-square result, it was indicated that there is a significant effect of electricity supply on profitability of micro and small enterprises in Calabar Metropolis, there is a significant effect of road infrastructures on product/service delivery of micro and small enterprises in Calabar Metropolis and there is no significant effect of taxation on the performance of micro and small enterprises in Calabar Metropolis. Based on the findings, the study recommended that government should come up with uniform tax policies that will aid development of small scale businesses in Calabar Metropolis, in order to obtain a vibrant and flourishing small scale business sector, the tax policy needs to be appropriate such that it will neither be a burden to the small scale businesses nor discourage voluntary compliance, government should evolve a tax policy that would encourage investments in small scale businesses.

Awareness and Willingness to Adopt Lean Technology among Micro Small Medium Enterprises in Nigeria

Awareness and Willingness to Adopt Lean Technology among Micro Small Medium Enterprises in Nigeria

Financial inclusion and the growth of micro, small and medium enterprises in Nigeria

Financial inclusion and the growth of micro, small and medium enterprises in Nigeria

Financial Technology (Fintech) and the Performance of Firms in Nigeria

The study examines the role of fintech on the performance of deposit money banks and SMEs in Nigeria. The study employed ex-post facto research design in the work. The data generated from the secondary data were presented and analysed using quantitative method. The method of analysis used in this study was the Auto-regressive distributed lag technique (ARDL) method. The study found that financial technology have a significant impact on the performance of deposit money bank in Nigeria. This is evident from the F calculated value of 1234.17, which is greater than the F critical value of 3.11. The study found out that financial technology have a significant impact on the performance of small and medium enterprises in Nigeria. The study recommends that Deposit money banks should be encouraged to do more in getting their customers to increase the use of fintech products. In addition, SMEs should be encouraged to adopt fintech as this has been shown to serve as an instrument for business development.

Business Model Innovation as a Catalyst for Sustainable Entrepreneurship: Empirical Findings from Small and Medium Enterprises in Nigeria

Over the past decade, Sustainable Entrepreneurship (SE) has received increased attention from academics and practitioners. SMEs in Nigeria have confronted the incidence of inconsistent customer patronage. However, several studies have not addressed this issue. As a result, the business performance continues to decline. In response to the above, this study examined business model innovation and sustainable entrepreneurship in Nigeria. Using the convenience method, a sample of 150 enterprises was selected from SMEs in Nigeria. The study administered a questionnaire for data collection, and the data collected were analyzed using SPSS (chi-square). These findings indicate a significant relationship between business model innovation and sustainable entrepreneurship in Nigeria. This study concludes that business model innovation and sustainable entrepreneurship occur in Nigeria. In line with these findings, the study recommends that SMEs develop and implement a business innovation model adequately. The study also suggests that business visionaries audit their plans of action to suit the latest business developments.

Effect of Succession Planning Strategies on the Sustainability of Family Businesses in Nigeria

The study is a descriptive survey designed to investigate the effect of succession planning strategies on the sustainability of family businesses in Nigeria, using mentoring, training, job rotation, coaching, talent management, and internship as proxies of succession planning. The population of the study consists of 79,460 small businesses in 36 states of Nigeria and the Federal Capital Territory as captured in the database of small and medium enterprises in Nigeria. Multi-stage cluster sampling technique was used to determine the sample and the Taro Yamani formula for calculating sample size was used to arrive at the sample size of 390 small businesses. To provide for anticipated “no response”, a 5-scale Likert questionnaire for data collection was administered to 443 representatives of small businesses across the six geo-political zones of Nigeria, out of which 435 (98.2%) returned validly. The data collected was analyzed using frequencies, percentages, means, correlation, and multiple regression model coefficients to determine the effect of succession strategies on the sustainability of family businesses. 84.4% of the family businesses sampled say they engaged in succession planning, and 22.1% had a written succession plan. Results of analyzing data from the study indicate that mentoring, training, job rotation, coaching, talent management, and internship as succession planning strategies are positively correlated to the sustainability of family businesses in Nigeria with statistical significance. This is corroborated by the F-test result with the F calculated value of 202.5 and p-value 0.000 larger than the 2.01 critical F at 0.05 level of significance, implying that a significant joint impact of all the independent variables exists on the dependent variable sustainability. Further, the multiple linear regression model analysis at a five percent level of significance shows an R-squared of 0.802 which indicates that 80.2% variation in sustainability is attributed to all the independent variables. Consequently, the six hypotheses for the study were rejected as the findings of the study show a statistically significant effect of the succession planning strategies investigated on the sustainability of family businesses in Nigeria. The researcher concludes that effective succession planning will enhance the sustainability of family businesses potentially. The researcher recommends that founders, owners, and managers of family businesses in Nigeria should adopt effective succession planning strategies, with a written plan to make their business sustainable beyond their retirement or death.

Empirical Assessment of the Effect of Financial Reporting Components on Investment Decisions of Small and Medium Enterprises in Nigeria

Financial reporting is a critical aspect of business operations that enables companies to communicate relevant financial information to their stakeholders. The primary goal of financial reporting is to provide investors with information that can assist them in making informed investment decisions. Therefore, this study aimed to investigate the effect of financial reporting on the investment decisions of SMEs. The study made use of primary data. Primary data was collected using an interview guide and questionnaires, with respondents being those in charge of making investment decisions in the firm under study or their agents. The questionnaire included both closed-ended and Likert-type questions. 150 questionnaires were administered out of which 100 were completed and returned. In order to ensure the reliability of the measures used in this research, the researcher conducted a random re-test exercise within the population sample of the study. The study findings indicate that financial reporting has a significant impact on the investment decisions of SMEs. The comprehensive income statement, statement of financial position, cash flow statement, and the statement of changes in shareholder's equity were found to have a significant positive effect on investment decisions. This finding implies that investors consider the information contained in these financial statements when making investment decisions. The study results state the importance of including all financial statements in financial reporting, as each statement provides unique information that can be relevant to investors. The study therefore recommended among other things; The Nigerian government and regulatory bodies should strive to improve financial reporting standards for SMEs, SMEs in Nigeria should be encouraged to undergo financial literacy education to improve their understanding of financial statements, the government should provide incentives such as tax breaks and subsidies to SMEs that prepare and disseminate comprehensive financial report.

THE ROLE OF THE TRADITIONAL AFRICAN FAMILY SETTING ON THE PERFORMANCE OF MICRO, SMALL AND MEDIUM ENTERPRISES IN NIGERIA (MSMES): THE CASE OF BAYELSA STATE MEDIUM SMALL AND MEDIUM ENTERPRISES

The study was commissioned to determine the role of traditional African family settings in the performance of Bayelsa's micro, small, and medium enterprises. Indeed, to some extent, micro, small, and medium enterprises have played a crucial role in driving the economic and industrial transformation of Nigeria. In other words, MSMEs are the lifeblood of any economy, and hence hindering factors ought to be taken care of to experience sustainable growth and development of the economy. Of course, traditions and customs somewhat play a significant role in the success and dearth of any business, and MSMEs are not immune from the interference and the constant challenges associated with traditional African family settings. The African family settings in most parts have contributed to the success and collapse of MSMEs. To this end, the study applied a descriptive survey research design methodology to scrutinize and give analytical views on existing works of literature and concepts surrounding the role of traditional African family settings as well as the performance of micro, small, and medium enterprises in Nigeria. After a thorough analysis, it is very clear that there is budding and enormous potential and opportunities for MSMEs in Nigeria and, as such, they can be seen to be the engines of growth, wealth creation, industrialization, or employment generation that are geared towards the reduction of poverty. Also found were the features of African family settings and challenges, which are quite extraordinary and uniform across the African regions. Nonetheless, there is some uniqueness to these African family settings that are familiar and evident in the Nigerian context. Interestingly, after giving an analytical point of view with regards to African family settings and challenges, it is significantly clear that African family settings and challenges are very instrumental in determining whether an entrepreneurial venture is successful or not. It recommends that promoters of MSMEs should ensure the availability of managerial capacity and acumen to manage the role of the traditional African family settings as regards the performance of micro, small and medium enterprises (MSMEs) in Nigeria.

Good Governance and Tax Compliance among SMEs in Nigeria: A Moderating Role of Socio-economic Factors

Tax revenues have become a key factor to governance without which lots of government functions are impeded. There is a constant struggle on taxpayers’ compliance, especially among the small and medium enterprises in Nigeria due to taxpayers’ perceived deficiencies in governance. Specifically, this study was conducted to examine how transparency, accountability, and responsiveness of government influence tax compliance among Small and Medium Scale Enterprises in Nigeria. The study employed the survey research design. Data were collected from primary sources through the use of structured questionnaires distributed to the SMEs at their place of work. The study adopted a Simple random sampling technique. The population of the study consist of 967,468 registered SMEs in Ekiti state. A sample size of 400 was selected using Taro Yamane’s formula. Data collected were analyzed using descriptive statistics, structural equation model analysis, Ordinary Least Square (OLS) and regression analysis. The study found a positive significant relationship between the independent good governance and tax compliance among SMEs in Nigeria. The study concluded that good governance is positively and statistically related to tax compliance among SMEs in Nigeria which is an indication that good governance enhances tax compliance among SMEs in Nigeria. The study therefore recommended that government should also exhibit transparency, accountability and responsiveness in order to build public trust in the operators for tax compliance.

Reviewing the Objectives and Goals for Sustainable Small and Medium Enterprises in Nigeria

SMEs are often cited as the part of national dispensations that require the goodwill and kind interventions of governments. This is especially in circumstances where the law does not allow government’s direct control of citizens’ socio economic powers. This study describes how the Nigerian government navigates issues relating to SME’s via her lofty ideals and actions for a better set up. The government policies and promises of ideals are as influenced by the country’s political history, obligations and existing unfavorable socio-economic experience.

Selected Economic Policies on the Growth of Small and Medium Enterprises in Nigeria

Selected Economic Policies on the Growth of Small and Medium Enterprises in Nigeria

Social Media Usage and Performance of Small and Medium Enterprises in Nigeria

The 21st century have seen the rise in the use of information and communication technology. This technology had overtime facilitated the growth of social media for ease of socializing and networking. Companies like Amazon, Alibaba among others leverage on e-commerce, integrating social media to provide product and services all over the world. In Nigeria, the likes of Jumia, Konga among others leverage on the social media space to market their product and services along with their website and mobile applications enabled by technology. With the huge number of people adopting the use of social media, it is critical to investigate how social media have impacted financial performance of Small and Medium Enterprises (SMEs) in Nigeria. With the use of ANOVA, Chi-square, the study analyzes responses from 566 respondents based on cleaned data obtained from Research ICT Africa Survey (RIAS) survey data published in 2019. Theoretically, the study is anchored on the social network theory. Evidence suggested that social media have contributed immensely to the growth of SMEs in Nigeria, helped in customer engagement and retention and also facilitate advertisement of goods and services. Evidence also suggested a significant relationship between social media advertisement and financial performance among SMEs in Nigeria.

Social Media Marketing and Small and Medium Enterprises (SMEs) in Nigeria

The role of SMEs in economic development of any nation cannot be overemphasis. This is because of their contributions to their respective country GDP. However, the emergence of social media has provided a paradigm shift in the modus oparandi of SMEs globally. One country that has benefited from this new wave of social media marketing is SMEs in Nigeria. Therefore, this study seeks to examine the imperatives of social media marketing on the growth and development of Small and Medium Enterprises in Nigeria. This study is situated within the Rogers (1995) Innovation Decision Process theory. Data for the study were collected from various secondary sources such as textbooks, journals and internet sources while content analysis was used in analysing the data collected. This study argues that social medium marketing has assisted SMEs in Nigeria in increase connectivity, knowledge sourcing and customer engagement. This study argues that social media has provided a lot of benefits to SMEs in Nigeria. Therefore, for SMEs owners to derive the desired benefits from social media, it will largely depend on how effective and efficient they are in their use of social media platforms. Therefore, this study recommends among other things that if SME owners should leverage on the opportunities provided for SMEs growth and development in Nigeria.

Corporate Taxes and Financial Performance of Small and Medium Enterprises in Nigeria

The study examined the effect of Corporate Taxes and Financial performances of Small and Medium Enterprises in Nigeria. The objective is to investigate the extent to which various Corporate Income taxes and Education taxes have affected the financial performances of Small and Medium Enterprises in Nigeria. The study adopted the Longitudinal research design using Secondary data with ordinary least square regression technique of analysis and time series data. The sample population of all SMEs in Nigeria of about 41.5million based on judgmental Sampling to obtain numerical values of model coefficient with the use of E-views version 9. The findings revealed that the company’s income tax has a positive and insignificant effect on the financial performance of small and medium enterprises in Nigeria while education tax has a negative and significant relationship with the financial performance of small and medium enterprises in Nigeria. The study concludes that the financial performance of small and medium enterprises in Nigeria is driven by Companies’ income tax, Education Tax, and Personal Income Tax. It, therefore, recommended that business entities should have knowledge on how to calculate the amount of tax payable based on the available information role of taxation in economic development should be used for social sustainability to achieve per capita income for an improved standard of living by citizens

Barriers in Digital Transformation in a Small and Medium Enterprises in Nigeria

Small and medium enterprises (SMEs) face competition in today's digital economy and a marketplace that is constantly changing and dynamic. Therefore, SMEs aspire to achieve a competitive advantage, enhance their organizational performance, and improve their businesses through a digital transformation (DT). Previous research studies still lack a deep knowledge of the barriers in digital transformation in SMEs in a developing country like Nigeria. Therefore, this research aims to determine the barriers that a small and medium company in Nigeria faces regarding DT. The findings of this study revealed twenty-three barriers in DT of which nine are similar to those identified in previous research literature and fourteen are new barriers. The identified barriers in DT can help managers in SMEs in Nigeria as well in other developing countries to understand how to mitigate them and have a successful DT.