Small Scale Business In Nigeria Research Articles

Effect of Human Capital Development on the Performance of Small Scale Enterprises in Ondo State, Nigeria

It is globally acknowledged that small-scale businesses (SSEs) play a critical role in promoting innovation, economic growth, employment creation, and social development in both developed and developing nations. SSEs in Nigeria have not contributed as much to the nation's economic development and progress as was anticipated because of a lackluster level of innovation. The performance of SSEs in Ondo State, Nigeria, was therefore investigated in relation to the development of human capital. Out of 2,324 registered SSEs, data from 270 respondents were gathered using a structured questionnaire and a simple random sampling technique. In order to investigate the relationship between the independent variable (human capital development) and the dependent variable (sales growth), the data were analyzed using simple linear regression and the Statistical Package for Social Sciences (SPSS) version 23. The results of the study showed that increased sales are positively and significantly impacted by the development of human capital (β = 0.752, t = 15.248, P<.005). According to this, sales growth in Ondo State, Nigeria, is strongly predicted by the development of human capital. According to the outcome, the State's sales growth was boosted by 64.7%, in part by human capital development. The study concluded that if sufficient funds are allocated to developing their human capital—particularly through training, seminars, workshops, and the acquisition of academic and professional qualifications—SSEs in Ondo State, Nigeria, can achieve a considerable improvement in both their financial and non-financial performance. Thus, it is therefore recommended that governments, non-governmental organizations, and other interested parties make investments in thorough training and educational initiatives designed to meet the unique requirements of SSEs.

Effects of Fuel Subsidy Removal on Small-Scale Industries in Nigeria

This research explores the effects of fuel subsidy removal on small-scale businesses in Nigeria, a critical sector in the nation’s economic landscape. The study contributes to existing knowledge by focusing on the relationship between subsidy removal and its impact on small-scale industries. A comprehensive literature review considers climate change impacts, socio-economic and environmental externalities, and the historical context of fuel subsidies. While previous studies have investigated macro and micro consequences, this research examines the repercussions on small-scale businesses. Utilising a descriptive research design and a Likert-structured questionnaire, the study investigates the ramifications of recent fuel subsidy removal in a typical community in the country. Key factors, including changes in sales, operational costs, and profit margins, are analysed using descriptive statistical methods and the Chi-square test. The findings highlight the interconnectedness between government policies and the health of small-scale businesses, emphasising the need for evidence-based decision-making to support resilience in adapting to policy changes.

Digital Skills Required for the Sustainability of Small-Scale Businesses in Nigeria

The study examines the digital skills required for the sustainability of small-scale businesses in Nigeria. To accomplish the goal of the study, two research questions and corresponding null hypotheses were developed to direct the investigation. Data were gathered using a researcher-designed instrument called the "Digital Skills Required for the Sustainability of Small-Scale Business Questionnaire (DSRSSSBQ)”. A survey research strategy was chosen for the study. Thirty-five (35) registered small businesses in total provided feedback on the instrument. The study's statistical methods included descriptive statistics and an independent t-test. The results of this study showed that the sustainability of small businesses in Nigeria greatly depends on having the necessary content marketing skills (CMS) and mobile phone marketing skills (MPMS). According to the research, among other recommendations, it was advised that owners of small enterprises adopt the use of digital marketing skills to improve the sustainability of their business’s operations, particularly in the 21st century's electronic age.
 
 Received: 27 August 2023 / Accepted: 2 October 2023 / Published: 5 November 2023

A Statistical Survey on Small Scale Business Development in Nigeria

In this paper, we examined the development of small-scale business in Nigeria. Primary data were obtained using structured questionnaires to elicit information from the study population. Data were analyzed using simple percentages and non parametric test statistic. The result showed that there is significant relationship between Entrepreneurship and development of small-scale business in Nigeria. It also shows that there is significant role of government in the development of entrepreneurship in Nigeria. The study recommends that there should be compulsory inclusion of entrepreneurship development modules in the academic programme of Nigeria institutions of learning so that entrepreneurial skills can be nurtured from the cradle. The study also recommends that government should provide technical facillities and services for Small and Medium Entreprises (SMEs) in Nigeria.

Government Grants and Assistance on Employee Performance of Small Scale Businesses in Nigeria

The task of small scale businesses in the development of emerging nations has been perceived to be essential in conquering financial difficulties described by high rate of unemployment, high destitution rates and pay disparities, particularly in developing nations. The disruptions caused due to changed circumstances have led to the loss of revenue for businesses and exposed them to a vulnerable environment. Government grants and assistance as a tool for development and growth of small scale businesses are phenomenal. The study aimed at ascertaining the effect of government grant on employee performance of small scale businesses. Taking into account the challenges facing small scale businesses and provision of government grants in Nigeria, other specific objectives were aimed at Evaluating the effect of government training on employee performance of small scale businesses and secondly, To find out how lack of access to finance influences employee performance of Small scale businesses. Theoretical framework of the study was based on motivation theory. A cross sectional, explanatory and descriptive research design was employed and questionnaire was administered to 133 sampled respondents. Both descriptive and inferential statistics were used to analyze the data obtained. The findings of the study shows that government training has a positive effect on employee performance while a low relationship exist between lack of access to finance and employee commitment. The low value of multiple correlation of determination indicates that there are other important factors that affect the employee commitment other than lack of access to finance. The study concludes that government grant has a positive effect on employee performance and thus recommends that Government grants and assistance agencies should aim at helping Small scale businesses with different marketing strategies to guarantee that they comprehend the market.

Effect of Entrepreneurial Education on Unemployment Reduction among Students in Nigeria

The study examined the effect of entrepreneurial education on unemployment reduction among students in Chukwuemeka Odumegwu Ojukwu University, Igbaria. The problem of the study is as a result of increasing rate of unemployment in Nigeria. The study was anchored on Human Capital Theory and risk taking theory. As a cross-sectional survey research design, a structured instrument developed by the researcher to reflect such options as strongly agree, agree, undecided, disagree and strongly disagree popularly referred to as five (5) points likert scale was used to obtain information from the respondents. The population of the study was limited to final year students of Business Administration and Entrepreneurship Studies Department in Chukwuemeka Odumegwu Ojukwu University, Igbariam. The total population was 195. Business administration was 128 while entrepreneurship was 67. The study used convenience sampling technique in selecting the sample size for the study based on convenience and easy accessibility to the respondents. Research hypotheses were tested using Multiple Regression Analysis (MRA) which was carried out with the aid of Statistical Package for Social Science (SPSS). Findings from the study revealed that Skill acquisition has significant effect on unemployment reduction, Entrepreneurship empowerment affects unemployment reduction, Infrastructural development has significant effect on unemployment reduction in Anambra State. The study recommended that Entrepreneurial education in tertiary institutions should be practical oriented rather than theory as this will exposed the students to various lucrative skills. Government should provide a means of getting loans by small scale business owners in order to enhance the activities of small scale business in Nigeria.

Effect of Entrepreneurial Education on Unemployment Reduction Among Students in Nigeria

The study looked at the effect of entrepreneurial education on unemployment reduction among students in Chukwuemeka Odumegwu Ojukwu University, Igbaria. The problem of the study is as a result of increasing rate of unemployment in Nigeria. The study was anchored on Human Capital Theory and risk taking theory. As a cross-sectional survey research design, a structured instrument of (5) points Likert Scale was developed by the researchers to obtain information from the respondents. The population of the study was limited to final year students of Business Administration and Entrepreneurship Studies Department in Chukwuemeka Odumegwu Ojukwu University, Igbariam. The total population was 195. Business administration was 128 while entrepreneurship was 67. The study used convenience sampling technique in selecting the sample size for the study based on convenience and easy accessibility to the respondents. Research hypotheses were tested using Multiple Regression Analysis (MRA) which was carried out with the aid of Statistical Package for Social Science (SPSS). Findings from the study revealed that Skill acquisition has a significant effect on unemployment rate, Entrepreneurship empowerment affects unemployment reduction, Infrastructural development has significant effect on unemployment reduction in Anambra State. The study recommended that entrepreneurial studies be encouraged in tertiary institutions where students are exposed to various entrepreneurial skills development leading to job creation and financial independence after their graduation. In doing this, more jobs will be created and people engaged meaningfully for the good of their family and the society at large. Soft loan should also be made available by the government to encourage the activities of small scale business in Nigeria

Employee Fidelity and the Survival of Micro and Small Scale Businesses in Nigeria

Abstract This research examines the impact of employee fidelity on the survival of micro and small scale enterprises in Nigeria. The mortality rate of small businesses in Nigeria is alarming. Most previous studies tend to concentrate on the managerial, technical, educational and even capital deficiencies of the entrepreneurs but this study focuses on the employees. Multi-stage sampling technique was used to identify suitable candidates for the study and discriminant function analysis was used for data analysis. Findings reveal that capital inadequacy and employee theft account for the failure small businesses in Nigeria. The study is significant to entrepreneurs to avert failure and for further research by academics.

BUSINESS CHARACTERISTICS, TAX ADMINISTRATION AND TAX COMPLIANCE BY SMES IN NIGERIA

This study evaluates the relative impacts of tax administration and business characteristics on the tax compliance behaviour of small scale businesses in Nigeria. The role of tax education as an effective tax administration strategy is also considered. Results show that tax education stimulates small businesses tax compliance behaviour, a result that is robust for both business taxes and personal taxes. It is also found that overall tax administration system in Nigeria does not have significant impact on tax compliance among small businesses in Nigeria due to inefficiencies and corruption in the system. Business ownership structure, registration status, and management qualification/experience are all found to promote tax compliance by small businesses in Nigeria.

Enterprise Risk Management and the Survival of Small Scale Businesses in Nigeria

Small scale enterprises are catalysts and engine room for economic growth and development as demonstrated by the achievements recorded by Chinese industrialists and other developed nations. Over the years, the rate at which small scale businesses are collapsing in Nigeria is quite alarming due to poor approach to risk management. The economic development of any nation most especially developing economies is instituted on the survival of small scale industries. Small scale industries in Nigeria are fundamentally different from other nations of the world in terms of nature and structure. Many researchers have identified various risks such as financial, strategic, hazard etc. risks militating against the growth of small scales industries which the implementation of enterprise risk management has helped in addressing without due consideration to risk oversight of an appointed risk expert. This paper which employed secondary data sourced from various journals and other publications and used Ordinary Least Square (OLS) in the analysis and testing of hypotheses identified and advocated for the implementation of risk oversight as panacea for enduring and survival of small scale businesses in Nigeria. It has been recommended that in order to appropriate the full benefits of risk oversight concept, the SMEs managers must embrace transparency, adequate maintenance of proper books of account and readiness to implement all the recommendations of the professional or risk experts.

An Enquiry into the Contributions of Microfinance Institutions Towards the Development of Small Scale Business in Nigeria

This paper examined the impact of Microfinance Institutions’ policies on the growth and development of Small Scale Business in Nigeria for the period 2005 to 2012. Nine (9) Microfinance Institutions and one hundred and fifty five (155) of their clients were interviewed. Records from the period shows that there is an increase in the numbers of savings and loans made by the Micro Finance Institutions, this signifies a rise in the need for Microfinance Institutions services in the economy. The study adopts the use of Multiple Regression Analysis to regress the relationship between the dependent variable and independent variables. We also employed the use of Analysis of Variance to determine the strength of the Regression Analysis. The OLS result suggests existence of positive relationship between both the dependent and independent relationship. Our findings suggested that macroeconomic policy should be designed in such a way that will encourage the survival of Microfinance Institutions and attracts low income – informal sector which in turn leads to increase in productivity and employment generation.

Influence of Leadership Approach on Employee Empowerment: A Study of Selected Small-Scale Businesses in Nigeria

Leadership determines the attitude of employees toward discharging the responsibilities in organizations. There have been few studies on leadership as it influences employee empowerment. Thus, the broad objective of this paper is to examine the relationship between leadership approach and employee empowerment in small businesses in Lagos State. The study administered 400 questionnaires to the employees of Small businesses in Lagos state; 377 were returned, but 372 were found usable. Pearson correlation matrix was employed to test the significant relationship between leadership approach and employee empowerment. The findings revealed that directive leadership approach significantly shows the positive relationship with employee training and delegation of authority to employees, and also participative leadership approach is insignificant and indicates the negative relationship with the delegation of authority at 5% significant level. Thus, this study recommends that owners or entrepreneurs of small businesses should adopt directive leadership approach due to the fact that it is significantly related to delegation of authority and training, unlike participative leadership. Also, employers of employees in small businesses in Nigeria should let their employee know the importance of following instructions given to them to complete the task assigned to them, and also owners of small businesses should entertain employees’ suggestions and ideas in order to be able to state well-defined business policy(ies) and instructions to be followed.

The Impact of Micro-Finance on Small Scale Business in Nigeria

The Impact of Micro-Finance on Small Scale Business in Nigeria

Low and High Potentials of Entrepreneurial Development within the Framework of Indigenious Small Scale Management in Africa

This work looked at the potentials of entrepreneurship development within the framework of indigenous small scale management. It also show those potentials that are inherent in entrepreneurs of small scale business both low and high potentials and possibly expose some of the problems or drawbacks of entrepreneur of small scale business in Africa. The writer try to show what small scale business is like and possibly other scholars’ assumptions of what small scale business is all about. Finally, some suggestions were proffered by the writer based on the personal experiences on how to enhance the potentials of entrepreneurs of small scale business in Nigeria and possibly, the entire continent of Africa; talking about how to cope with, both internal and external environmental forces of the business.

An Assessment of Performance of Industrial Development Centres (IDCs) in Nigeria

The study assessed the performance of Industrial Development Centres (IDCs) in Nigeria. The study specifically aimed to determine the extent to which IDCs have met the service targets set for meeting their objectives for developing small-scale businesses in Nigeria and to identify problems(if any) that hindered the IDCs from meeting their targets from 1990 to 1999. The results of the study showed that at 1% level, each of the selected IDCs performed poorly towards meeting the targets set regarding the number of small-scale business they aimed to offer services to during the period covered by the study. The reasons attributed for poor performance was the failure of the IDCs’ supervising Ministry to provide adequately necessary physical, human and financial resources required for offering services to small- scale businesses.Key words: Small-Scale Businesses, Industrial Development Centres, Zones, performance

An Assessment of the Impact of Industrial Development Centres (IDCS) On Generation of Employment by Small –Scale Businesses in Nigeria

The study assessed the impact of Industrial Development Centres (IDCs) on employment generation by small-scale businesses in Nigeria .The study was designed primarily to determine whether or not the generation of employment of small-scale businesses beneficiaries of the IDCs increased significantly after obtaining IDCs’ services. The study indicated that the services offered by many (66.7%) of the IDCs led to significant increase in employment generation by large number of beneficiary small- scale businesses at 1% level but at 5% level the services offered by many (66.7%) IDCs did not lead to significant increase in employment generation by large number of small-scale businesses beneficiaries. The study also indicated that there were significant differences among the IDCs regarding changes in employment generated by their beneficiary small-scale businesses after receiving services.

Training as a nexus for entrepreneurial emergence: An appraisal of OGEGEP trainees experience in Ogun State, Nigeria

The success, or otherwise, of any commercial venture is a function of many factors among which is training. A business would survive the initial challenges if it is able to maximize its core competences in order to assert its strengths, minimize its frailties and overcome its threats. Small scale enterprises have been identified as the drivers of economies in Sub-Sahara Africa. However, the rate at which small scale enterprises fail in Nigeria is alarming due to the fact that an average small scale business in Nigeria does not survive beyond the first five years of its establishment. A stratified sample of two hundred trainees of the Ogun State Employment Programme (OGEGEP) was taken out of the six hundred undergoing training to ascertain the role(s) of training in entrepreneurial emergence. The trainees were selected, based on the programmes they were being trained for. Data were collected from the respondents with the aid of a well structured questionnaire and analyzed using descriptive statistics such as mean, frequency and percentage, while the hypothesis formulated was tested with correlation and t-test. The study reveals that there is a close correlation between training and entrepreneurial emergence, and that training is an important tool, which will help businesses grow. Key words: Training, entrepreneurial emergence, Ogun State Employment Programme trainees.

Financial strategies and survival of small-scale business in Nigeria

No Abstract. SOPHIA: An African Journal of Philosphy and Public Affairs Vol. 9 (2) 2007: pp. 67-76