SME Operators Research Articles

Pengaruh Financial Teknologi, Pengelolaan Keuangan dan Modal Sosial Terhadap Kinerja UMKM di Sentral Grosir Cikarang (SGC)

The study aimed to analyse the impact of financial technology, financial management, and social capital on SME performance. Several factors influence SME performance, including internal funding and external factors. Issues to address include underutilisation of financial technology, ineffective financial management, and lack of utilisation of social capital. This quantitative study collected data via a questionnaire from 60 SME operators using purposive sampling. Data analysis employed multiple linear regression assisted by SPSS. Findings revealed that financial technology, financial management, and social capital positively influence SME performance. This is due to the effective utilisation of technological advancements in business operations significantly enhancing SME performance. Improved financial management enables SMEs to seek funds selectively and use them efficiently. Similarly, building social capital facilitates SME operators' adaptation to their business environment, thereby enhancing SME performance. Recommendations for future research include expanding the scope of study variables, and SMEs should maintain and enhance the factors of financial technology, financial management, and social capital influencing SME performance. With financial technology, SMEs can access financial services more easily, utilise financial management for better record-keeping and calculation, and build social capital to develop their businesses.

Efficiency of small business: the case of Nigeria

The concept of entrepreneurial orientation (EO) has been widely discussed through previous studies in entrepreneurship, so it can be considered as one of the main topics in this field, and the most commonly used measure of entrepreneurial behaviour. The main objectives of the study were to determine the effect of entrepreneurial orientation on small and medium sized enterprises and also to examine the effect of innovative performance on EO. The study population refers to selected SMEs that were registered with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) in Ogun State, Nigeria. The primary data was generated through the field survey using structured questionnaire as a major research instrument. Taro Yamani scientific formula was adopted to determine the sample size. Correlation statistical analytical, Pearson Product Moment correlation Coefficient method and content validity method was applied. The study used Analysis of variance (ANOVA), correlation efficiency, and regression analysis for this study. The research found that there is a significant effect of entrepreneurial orientation on small and medium sized enterprises performance in Nigeria. Moreover, the results of the study indicated that EO affects innovative performance. The study recommends that small and medium sized enterprises should embrace the entrepreneurial orientation dimensions of autonomy, pro-activeness, risk taking, competitive aggressiveness and innovativeness to increase business performance and SMEs operators should adopt autonomy by encouraging employees to be autonomous and be free to take initiative for the best interest of the organization and use periodic appraisal to monitor them.

Delving into the Architecture of International B2B Relationship Marketing During the COVID-19 Pandemic: From Business Convergence to Partnership Effectiveness

ABSTRACT Purpose The study seeks to address the influence of different facets of business-to-business (B2B) relationship marketing on internationalization effectiveness, by taking into account the turbulent environment generated by the COVID-19 pandemic. The focus falls on the factors that generate, frame, catalyze, sustain and strengthen international business relationships between managers from organizations with converging interests. Methodology B2B relationship marketing in the international arena is analyzed by means of various angles such as business convergence, business context, interpersonal compatibility, business credibility and network interconnections as availed by the “new normal” triggered by the COVID-19 pandemic. A questionnaire-based survey with 158 business owners and managers from European industrial companies was carried out during November 2023 to investigate the configuration and dynamics of B2B relationship marketing in the unprecedented and systemic COVID-19 crisis. Data was analyzed via structural equation modeling using SmartPLS 4. Findings The findings showed that while business convergence remains a strong influencer of all the other relational dimensions, the restrictions and limitations engendered by the pandemic have also altered international B2B relationship marketing to such an extent that the only significant factor for internationalization effectiveness relies on business networking. Research and practical implications The study has both theoretical and practical implications, bringing forward a topical perspective on international B2B relationships during COVID-19 disruptions and their impact on the effectiveness of international operations. Originality The study advances a phenomenological view of the unprecedented changes and their influences on the overseas operations of SMEs in a particular field. It complements and adds to the literature by stressing a more articulated relationship-centric architecture, which probed relevance during the pandemic.

Work-life balance and employees’ commitment in plastics manufacturing firms in Anambra State, Nigeria

Purpose: This study aims to determine the correlation between work-life balance and employee commitment in plastic manufacturing firms in Anambra State, Nigeria. Research Methodology: A descriptive survey design was employed, the questionnaire was used to elucidate information from respondents while regression analysis was used to test the stated hypotheses and determine the relationships between the variables in the study. Results:–life balance-continuance commitment had a positive but minor impact on employees' commitment, normative commitment had a substantial negative influence on employees' commitment, and affective commitment had a strong positive relationship with employees' dedication. Limitations: This study was limited to plastic manufacturing firms in Anambra State, Nigeria. It is expected that the financial and health sectors, which are known to have stiff working conditions, should be researched to support or contradict this current finding. Contribution: This study is expected to serve as a working tool for SME operators, manufacturing firms, policymakers, and the government, as offering a healthy work-life balance can be a significant factor in attracting top talent.

Evaluasi Struktur Gaji dan Skala Upah (SSU) Berdasarkan Point System Method pada UKM Pondok Nasi Kapau Uni As Reformasi

Pondok Nasi Kapau Uni As Reformasi is an SME operating in the food industry and was established in 1998. This study aims to analyze the compensation system at SME Pondok Nasi Kapau Uni As Reformasi. Primary data was obtained from the owner, manager, and several employees. While secondary data is collected from scientific journals, books, and relevant literature using descriptive analysis method to evaluate the compensation system in UKM Pondok Nasi Kapau Uni As Reformasi. The data analysis method is used to determine compensation factors that can be offset using the hay method approach. Revamping the salary structure is needed at UKM Pondok Nasi Kapau Uni As Reformasi to achieve an ideal compensation model. The multiple scale method was used in the preparation of the new salary mapping, with a spread value greater than mid-to-mid. The results show that the overlapping multiple scale method is more efficient because there is no significant change to the salary and the new total salary is not significantly different from the old total salary.

Unraveling the Effects of the Financial Crisis on the Going Concern of Sri Lankan Tourism-Related SMEs: A Qualitative Inquiry

This research focuses on assessing the repercussions of the financial crisis on the sustainability of Sri Lankan tourism-related SMEs. Employing purposive sampling, twelve SME owners, each with a minimum of five years of operational history within the years 2018 to 2022, were selected to represent this vital sector. Through in-depth interviews, we investigate how the financial crisis affected the continued operation of these tourism-related SMEs. The findings demonstrate the diverse and profound impacts of the crisis. Many SMEs grappled with rising costs, inadequate working capital, and the looming threat of bankruptcy. Notably, the financial crisis marked a turning point for Sri Lanka's SMEs, triggering a shift in the domestic production landscape due to currency fluctuations and import constraints. The study also delves into the dynamic relationship between financial resources and organizational strategies, revealing configurations that ranged from notably productive to less so. We explore how increased financial resources, amidst macroeconomic restrictions, could influence these dynamics. In summary, this study provides critical insights into the unique challenges faced by tourism-related SMEs in Sri Lanka during the financial crisis. By implementing the recommended strategies, these enterprises can not only navigate the crisis's hurdles but also harness new growth opportunities.

The Factors Hindering the Effective Development of SMEs Businesses in Tanzania a Review Study

The development of SMEs worldwide is dependent upon a favourable business situation. However, SMEs in Tanzania confront a number of obstacles that prevent them from growing, including a lack of funding, inadequate market accessibility, a lack of entrepreneurial expertise and skills, bureaucracy, lack of business training, lack of good infrastructure, a lack of collateral, low production, unfavourable regulations, corruption, the motivation of the business owners, limited access to information, inadequate raw materials and other related factors. The significance of the study is to review on the issues preventing Tanzanian SMEs from developing. The SMEs, businesses have been demanded as the backbone for the growth of economic in almost all the developing countries including Tanzania. In Tanzania it has contributed almost 30% of the national GDP, and almost 20-30% of the total labour force, thus 3-4 million people employed. Therefore the paper has addressed some factors internal, external and other related factors as reviewed that act as the setbacks towards the SMEs development. The study has focused on literature review of different articles, research and case studies done. Mwanza region was chosen as one of the case study because of great opportunity to SMEs in the region, which if could be well utilized could add high Gross Domestic Product (GDP) of the country. The SMEs involved are such as; retail shops, bars, restaurants, hotels, playing stations, decoction centres, stationeries, etc Tanzania To achieve the intended objective, the researcher developed research question that was aimed at assessing the factors affecting performance and development of SMEs, contributions and solutions to SMEs. Data were collected from literature review of paper and cited by the author concerning Tanzania. The finding showed that most of the SMEs fails to develop due to; failure to access financial support, lack of business skills, poor technology used due to lack of awareness, lack of enough government support, high taxes imposed , failure to comply with government regulations, sudden change in climatic conditions and government rules. The study concluded by suggesting and further recommended on the better strategies that SMEs could implement with the government support like; government should always work and collaborate with SMEs in all areas by implementing favourable business policies, financial institutions should impose affordable and easy regulation to access loan that supports the SMES operations. Also the SMEs owners and employees should be given enough skills to help them perform better and copy with the daily change in technology advancement to assure effective and efficiency performance of the SMEs for their future sustainability in Tanzania.

Effect of Electronic Payment System on Marketing Performance of SMEs in Akwa Ibom State, Nigeria

Although the electronic payment system is regulated, in some instances, most SME owners tend to perceive the new system as a threat due to the high rate of cybercrime, network issues, hanging of transactions, and poor description of payer identity, among others. This study examined the effect of the e-payment system on the marketing performance of selected small and medium-scale enterprises in Akwa Ibom State, Nigeria. primary data were gathered through a questionnaire administered to owners/managers of SMEs in Akwa Ibom State. The independent variables were the e-payment system (proxied via bank mobile app, POS and digital mobile app) and the dependent variable was performance (proxied via customer patronage). Data obtained for the study were analyzed with descriptive and inferential statistics. Findings showed that POS, Bank mobile app and Automated Teller Machine (ATM) were mostly used which ranked 1st, 2nd and 3rd respectively. Digital wallets, credit card online transactions and the use of crypto-currency for business were ranked 4th, 5th and 6th respectively. The study revealed that the Bank mobile app, use of point of sales (POS) machine, and Digital wallet app have significant effects on customer patronage of small and medium-scale enterprises. The study concluded that the introduction of the e-payment system (cashless policy) has a significant influence on the operation, performance and customer patronage of small and mediumscale businesses in Akwa Ibom State. It was recommended, among others, that SME operators should be trained on how to use electronic payment systems such as electronic fund transfer, mobile banking, internet banking and online remittance.

Effect of Corporate Entrepreneurship on Performance of Selected Small and Medium Enterprises in Abuja, Nigeria

The study investigated how innovation and risk-taking affect performance in the selected Small and Medium Enterprises in Abuja. The research problems are lack of product innovation, poor marketing strategy, double or excessive taxation, currency depreciation, uneventful proactive company concepts and irregular inflation, among others. The study utilized an analytical and descriptive cross-sectional survey research approach to investigate the effects of corporate entrepreneurship on the performance of SMEs in Abuja. Primary sources were used to gather data with a sample size of 134. The findings depict that innovation had an appreciable effect on the level of service quality provided by the selected SMEs. Also, risk-taking had a considerable influence on the organization efficiency and profitability of the selected SMEs. Consequently, the study recommended that corporate entrepreneurs should develop diverse but appropriate strategies, innovative skills, and policies to enhance organizational performance and efficiency. The government should create a funding agency for SMEs, provide the infrastructure through a public-private partnership to build up SME operators' capacity and give tax breaks to SMEs in addition to funding SMEs. Further study should be done on the long-term impact of corporate entrepreneurship on SMEs' performance in Abuja to completely comprehend the implications of corporate entrepreneurship on the performance of SMEs in Nigeria.

Evaluating the Sources of Financing Working Capital of Small Businesses in the Tarkwa Nsuaem Municipality

The role of small and medium enterprises in the development of the economies of third-world countries is by far indispensable. However, the ability of these enterprises to raise their working capital to perform these roles remains laborious. This paper evaluated sources of financing working capital, assessed the accessibility and utilization of traditional financing options, examined the role and significance of alternative financing methods and proposed recommendations to SMEs in the Tarkwa Nsuaem Municipality of the Western Region of Ghana. The study considered 120 (53.3%) out of 225 SMEs in the Municipality. It adopted a quasi-experimental research design and obtained data using a cross-sectional survey. Descriptive statistics was used to evaluate the components of working capital. The study showed that SMEs operators preferred the use of personal funding for their businesses to the use of bank loans. Again, the firms appear to be liquidity conscious and thus, refrained from financing long-term projects with short-term funds. A key recommendation of the paper is that SMEs should make use of entrepreneurial programs offered by the NBSSI and NGOs since these come with education and training.

How Does Psychological Empowerment Affect Entrepreneurial Orientation at Women-Owned SMEs in Indonesia?

Objective - This research is conducted with a focus on women-owned SMEs in Indonesia, which play a crucial role in driving the nation's economic progress. The study aims to determine whether the psychological empowerment and entrepreneurial orientation of women who own and operate SMEs can be enhanced to encourage further economic development. Methodology/Technique – This study employs quantitative analysis, with primary data collected through a questionnaire survey. The survey garnered responses from 796 participants selected via quota sampling from 3 major densely populated provinces in Indonesia, namely West Java Province, West Sumatra Province, and Yogyakarta D.I. Province. Structural Equation Modeling was used to test the model. Finding – The results of the analysis reveal that women's psychological empowerment has a significant impact on entrepreneurial orientation. Interventions designed to bolster psychological empowerment and entrepreneurial orientation are expected to enhance the productivity of women-led SMEs. The research has yielded an alternative model for improving the performance of female entrepreneurs in the SME sector to boost competitiveness by fostering increased entrepreneurial intentions. Novelty – In the framework of social cognitive theory, Women's Psychological Empowerment represents a psychological asset that enables individuals, particularly female SME operators, to address challenges in their environments proactively. This empowerment is associated with a positive orientation towards entrepreneurial behavior. The study has yielded a model that aims to augment the capabilities of women SME entrepreneurs, thereby preparing them to thrive within the digital economy ecosystem. Type of Paper: Empirical JEL Classification: L2, L26 Keywords: Psychological Empowerment; Entrepreneurial Orientation; Women-Owned SMEs; Gender Reference to this paper should be referred to as follows: Kadiyono, A,L; Cahyono, A.B.F. (2023). How Does Psychological Empowerment Affect Entrepreneurial Orientation at Women-Owned SMEs in Indonesia?, GATR-Global J. Bus. Soc. Sci. Review, 11(4), 93–106. https://doi.org/10.35609/gjbssr.2023.11.4(3)

MODERATING EFFECTS OF WEATHER CONDITIONS ON THE RELATIONSHIP BETWEEN ELECTRICITY SUPPLY RELIABILITY AND SME SUSTAINABILITY

This paper aims to investigate the moderating effects of weather conditions on the relationship between electricity supply reliability and SME sustainability within the context of a developing country. The method used for analysis is a hierarchical regression with the use of SPSS AMOS 24 and slope analysis. SPSS 23 was used to test the assumptions for parametric analysis. Survey data was collected from a sample of 54 owners and managers of SMEs in the Fako Division of Cameroon. Findings revealed significant positive relationships between electricity supply reliability and SME sustainability and an insignificant positive relationship between weather conditions and SME sustainability. Furthermore, the results indicated that weather conditions moderate the relationship between electricity supply reliability and SME Sustainability in the Fako Division of Cameroon. The study found that the electricity utility company of Cameroon has the daunting task of ensuring a robust electricity supply network capable of withstanding harsh weather conditions to ensure regular electricity. The implications of the findings of the study are that prevailing weather has an influence on the reliability of electricity supply, which affects the operations of businesses. Furthermore, when the business operations of SMEs are affected, the economy of the country suffers significantly. The study recommends the involvement of the government and policymakers to institute measures to ensure the obligation of the electricity utility company to maintain minimal interruptions of electricity supply. This study’s contribution to the body of knowledge is embedded in developing a theoretical model that explains electricity supply reliability in Cameroon from a weather perspective.

INTERNATIONAL MARKETING STRATEGIES OF SMES IN THE DIGITAL AGE: ENTRY APPROACHES AND CHALLENGES

The objectives of this study included: understanding cross-border e-commerce business models and operations of SMEs, and analyzing entry strategies suitable for small- and medium-sized suppliers targeting ASEAN cross-border e-commerce. Through analysis of multiple case studies and secondary data, this study provides reference to SMEs looking to penetrate the ASEAN e-commerce market, thereby enhancing the innovative energy and scale of SMEs and the cross-border e-commerce service industry. The findings indicate that three strategies adopted by the case SMEs for cross-border e-commerce in the ASEAN market were: seeking third-party operators to perform marketing work, collaborating with overseas platforms, and building their own online platforms. Research results also found that when SMEs engage in cross-border e-commerce, their products, brands, and channels form the golden triangle of cross-border e-commerce and influence one another.

The Impact of Innovation and Government Intervention on the Performance of Micro, Small and Medium Enterprises

During the COVID-19 pandemic, Micro, Small and Medium Enterprises (MSMEs) experienced a decline in performance due to low product demand. Therefore, various efforts need to be undertaken to enhance MSMEs' performance in Indonesia. Addressing this issue, this research aims to examine the influence of innovation and government intervention in improving the performance of SMEs in Indonesia. The study employs a quantitative approach with a population of MSME actors in Central Kalimantan, a province of Indonesia. Through proportional random sampling, 356 SME operators were identified as respondents for this study. Data were collected using a survey method and analyzed using simple and multiple linear regression. The results indicate that innovation and government intervention have a positive and significant impact on improving MSMEs' performance both partially and simultaneously. Therefore, this research implies that the more MSMEs engage in innovation and with government involvement in efforts to support MSME development, the greater the opportunity to enhance MSME performance in Indonesia.

How to orchestrate participants of ecosystem to foster innovation: an exploratory analysis on the network level

PurposeSmall and medium-sized enterprises (SMEs), typically with limited resources, strive hard to obtain the trust of ecosystem participants as an orchestrator. Accordingly, the firms do not have sufficient legitimacy to persuade other parties to join their networks. This study aims to investigate how an SME operating in the publishing industry orchestrates ecosystem participants. In particular, the study analyzes how the orchestrating firm stimulates interactions among ecosystem participants.Design/methodology/approachCase study research with a qualitative approach has been documented as a well-accepted method for investigating complex phenomena and for theory building. Collected data from various informants and different collection techniques are triangulated to ensure validity. Cross-case analysis to identify common patterns is undertaken as the basis for developing a sound conclusion.FindingsThe study demonstrated what orchestrating firms should do to foster innovations and how they benefit from other participants in the ecosystem. The analysis identified the orchestrator's four roles: entrepreneurship networks, knowledge activation, innovation intermediary and network leadership. Among the four roles, there are interrelationships, and to some degree, these overlap. The orchestrating firm must emerge into the ecosystem and work together with all members of the ecosystem. Managers of the orchestrating firm and network members should collaborate to find the most beneficial configuration for all ecosystem participants.Research limitations/implicationsThis research is limited to the knowledge-intensive publishing industry. The use of specific industries closely related to innovation provides an advantage in the way that enables researchers to conduct depth analysis, but at the expense of generalizability, and therefore, future research can analyze different industries.Originality/valueThis study focuses on networks as the unit of analysis. Previous studies assumed individual firms as the unit of analysis and ignored the fact that companies interact with other companies when pursuing open innovation. The study focuses on the interactions between actors as the unit of analysis and on the role of orchestrators undertaken by an SME.

Knowledge Transfer as a Driver of Innovative Performance of SMEs in Lagos State

Purpose: The ability to disseminate knowledge in the presence of innovation and capability in businesses creates an advantage over other businesses. Most SMEs do not implement formal tools to protect and share needed knowledge, which makes knowledge transfer difficult.
 Design/Method/Approach: Quantitative research was adopted. With over eleven (11) thousand registered SMEs in Lagos State and using Yamane’s formula, a total of 386 respondents formed the sample size for this study.
 Findings: The study established a positive significance of social networking, mentorship and research and development for innovation performance. However, training revealed no impact on innovation performance which further established that most SMEs operators in Nigeria usually improve business skills through apprenticeship instead of an organized training to transfer knowledge.
 Theoretical Implications: The absorptive capacity theory was adopted to explain the importance of enriching organizational learning by the acquisition of diverse knowledge from different sources to enhance capabilities. It also depicts the impact of technological innovation performance through general abilities of an individual.
 Practical Implications: The study emphasized that the survival and competitiveness of any business entity in an evolving global environment is dependent on its implementation of continuous innovative improvements through knowledge transfer, but of all knowledge transfer methods, training is the least used method by business owners.
 Originality/Value: This paper assesses the significance of knowledge transfer as a driver of innovation performance in Nigerian SMEs using such methods as training, mentorship, research and development and social networking employed by SMEs.
 Research Limitations/Future Research: One major limitation to the study was the inability and unwillingness of SMEs owners and managers to fill in a questionnaire.
 Paper Type: Empirical
 JEL Classification: M10, M13

What makes Small and Medium Enterprises successful: A Study

Objective: Critical success factors designs for SMEs offer info to SMEs which were used to create strategies and policies for best business practices which will mitigate failures. The goal was reviewing SME content articles as well as books to determine CSFs influencing the success. Design: The content reviewed the literature on SMEs and also identified critical success factors which influence the achievements of SMEs throughout industries and locations. Findings: Twenty-five critical success factors of SMEs had been revealed, and several more are believed to be a part of them. Policy Implications: The newspaper is going to enable entrepreneurship researchers to recognize the CSFs for program as variables in upcoming CSFs models as well as SME operators for optimum business practices to lessen failure as well as grow/develop economies. Originality: The content is an extensive literature review of Books and sme articles identifying the CSFs influencing the success.

Risk identification in managing small and medium-sized enterprises in Poland

Motivation: When running a business in the form of an enterprise, we agree to take the associated risk. The ubiquitous uncertainty about the future of enterprises, especially from the SME sector, makes risk management more and more important, which includes several successive stages. One of the most important is risk identification. Its purpose is relatively early detection of possible threats that, if they occur, will affect the company and its goals. Knowledge of the factors that may disrupt the functioning of an entity, especially a small and medium one, is the foundation in the approach to the issue of risk accompanying business activity. Properly conducted risk identification should cover all levels of the company’s operation and its relations with the environment.Aim: The article will isolate events, the occurrence of which small and medium-sized entrepreneurs fear the most. The aim of this article is to develop a register of risk sources for SMEs, and to identify the risks that pose the greatest threat to the operation of SMEs. Moreover, the level of individual sources of risk will be assessed allowing to identify the key disruptors for the operation of SME’s. The relationship between the level of risk and the size of the entity will also be examined.Results: Identification of factors threatening the functioning of enterprises increases the effectiveness of risk management that accompanies the conducted activity. Empirical research allowed to recognize the most important categories and the main sources of risk associated with SME activities. The dependency between risk categories and the size of the business was confirmed, with the strength of this relationship being moderate at best.

Determining factors related to artificial intelligence (AI) adoption among Malaysia's small and medium-sized businesses

The purpose of the study is to examine the relationship between Competitive Pressure (CP), Top Management Commitment (TMC), Employee Adaptability (EA), External Support (ES), Organization Readiness (OR) and Artificial Intelligence Adoption (AIA) among SMES operating in Sabah, Malaysia. By employing judgemental sampling a total of 196 respondents were involved (i.e., owners or managers) in varied SME sectors such as services, manufacturing, construction, agriculture, and mining & quarrying. A survey questionnaire was used for data collection and analysed using Smart PLS 4. The results revealed that top management commitment and organization readiness have a significant relationship with AI adoption. However, competitive pressure, employee adaptability, and external support have an insignificant impact on AI adoption. This suggests that SME organizations may benefit from focusing on and enhancing TMC and OR practices to improve Al outcomes. Overall, these findings can guide decision-making and resource allocation, emphasizing the importance of OR and TMC in driving desired outcomes related to Al and highlighting areas where efforts may not yield significant effects. Based on present technological demands, practical implications and future research directions are also highlighted.

RISK FINANCING TECHNIQUES AND SMEs PERFORMANCE: EMPIRICAL EVIDENCE FROM NIGERIA

Risk financing is a critical element of a resilient future. Risk management techniques are important metrics in safeguarding the lives and property of mankind. Therefore, this study aimed to assess the effects of financial risk management techniques on business performance, with specific reference to the perceptions of selected SMEs in Lagos, Nigeria. The study adopted a cross-sectional survey research design. The study population consisted of the total number of registered SMEs recorded in Lagos State at 11,666. Thus, single-stage cluster and convenience sampling techniques were employed in the questionnaire distribution and data collection processes. Two hundred and forty-eight (248) respondents were used in the study. The statistical technique employed was simple regression. This study confirms the importance of financial risk management techniques in business performance of selected SMEs operators in Lagos, Nigeria. It is recommended that insurance providers in Nigeria should attempt to tailor insurance products in a lovable and affordable manner to SMEs’ operators/owners in a bid to improve their behavioural risk attitudes. More so, interest should be placed on impressive risk management communication and ideal physical risk control techniques among SMEs’ owners/operators.