Initiating and articulating policy ideas for small and medium enterprises growth and development. The abbreviation sme is used by international organizations such as the world bank, the european union, the united nations and the world trade organization wto. This study, small and medium scale enterprises smes in nigeria. The impact of accounting system on the performance of small. Small and medium scale enterprises smes and nigerias economic development article pdf available in mediterranean journal of social sciences 57. Abstracta business whether small or big, simple of complex, private or public is created to provide competitive prices. Ereadiness assessment of small and medium enterprises in egypt. Working capital management practices of small firms in the. However, none was done for any of the countries in the middle east and north africa region. Marketing strategies and the performance of small and medium enterprises in akwa ibom state, nigeria ebitu, ezekiel tom, ph. An assessment of risk management of small and medium. Abstract small and medium scale enterprises have long believed to be catalysts for economic growth and national development both in developed.
Small and medium sized enterprises smes are the backbone of virtually all. An assessment of financing options, authorakingunola and richard oreoluwa, year2011. Policy on micro, small and medium enterprises, npmsmes, 2006. The economy of nigeria cannot function properly or thrive without the micro, small and medium scale enterprises smes. Assessment of challenges facing small and medium enterprises. Muritala, awolaja and bako 2012 investigated small and medium enterprises as a veritable tool in economic growth and development using survey method.
Small and medium enterprises and larger scale businesses. Problems and prospects, was undertaken to find out if the sme subsector in nigeria has performed its critical role of driving the countrys industrial transformation and development as it has done in other developed countries. This study assesses the financing options available to small and medium scale enterprises smes in nigeria to. These small scale enterprises cannot function properly if they are not properly managed and monitored to ensure that they are successful, this concern has led us into this study of assessing the book keeping practices of small and medium scale enterprises. Used for marketing and to contact nigerian companies by telephone numbers and emails. Nevertheless, the study also found among others that mfis services outreach to smes at present is poor. Other definitions from other agencies like small and medium scale enterprises development agency of nigeria smedan, 2003, small and medium industries and equity investment schemes smeies, national association of small and medium scale enterprises nasme etc.
The method of analysis is that of correlation coefficient and multiple regressions while. M department of accounting, benue state university, pmb 102119, makurdi nigeria email of the corresponding author. Small and medium sized enterprises smes or small and medium sized businesses smbs are businesses whose personnel numbers fall below certain limits. D department of marketing, university of calabar, nigeria. Smes small and mediumsized enterprises account for 60 to 70 per cent of jobs in.
This study is on the effects of multiple taxation on the performance of small and medium scale enterprises smes. Introduction the small and medium enterprises sme subsector plays a very important role in economic growth and is considered as the backbone of industrial development. Data were obtained from 600 respondents in 60 small scale enterprises located in different parts of the country 20 small scale enterprises located in lagos state, 20 in anambra state and 20 in kano state of nigeria respectively. An assessment of risk management of small and medium scale enterprises in nigeria iopev, luper kwanum, isaac. The aim is to inform the development of micro, small and medium size enterprises msmes as suppliers to the extractive industry while drawing on lessons from countries with more mature extractive sectors. This target group has been identified as the catalyst. Concepts and issues chinonye love moses 1, akinbode mosunmola oluwafunmilayo 2, onochie, maxwell prosper 3 1,2 department of business management, college of business and social sciences, covenant university, ota, ogun state, nigeria. Small and medium scale enterprises smes in nigeria the marketing interface.
Microsoft special package for social science spss was used to aid analysis. Lagos, nigeria october 2005 abstract this study, small and medium scale enterprises smes in nigeria. The impact of information communication technology ict on business growth strategies of small and medium scale enterprises smes in the awutusenya east municipality of central region of ghana ben ebo attom lecturer, department of accountancy studies, cape coast polytechnic cape coast ghana, west africa email. The role of government and other financial institutions. The small and medium scale industry is seen as a key to nigerias growth and alleviation of poverty. The specific objectives focused on effect of payroll fraud on ghost workers, false wage claims and false expense claims. By abiodun fatai1 department of political science, faculty of social sciences lagos state university, ojo, lagos nigeria. An unduly complex regulatory system and tax regime enforcement makes tax compliance unduly burdensome and often have a distortionary effect on the development of small and medium scale enterprises smes as they are tempted to change into forms that offer a lower tax burden or no tax burden at all 7, and as such results in a tax system that. Risk management and insurance of small and medium scale. The abbreviation sme is used by international organizations such as the world bank, the european union, the united nations and the world trade organization wto smes outnumber large companies by a wide margin and also employ. In order to achieve the purpose of the study, data was collected from ten 10 small business owners through the use of structured questionnaires which was analyzed using simple percentages.
The federal ministry of industries defines a medium scale enterprise as any company with operating assets less than n200 million, and employing less than 300 persons. Small and medium scale, enterprises, entrepreneurship, nigerian business environment, economic. Descriptive research design was adopted in this study. The historical background of small and medium scale enterprises in nigeria can be traced back to. Pdf the nature of small and medium scale enterprises smes.
List of 6000 profiles of nigerian companies in lagos state. E department of management and accounting ladoke akintola university of technology, ogbomosonigeria. A small scale enterprise on the other hand, is one that has total assets of less than n50 million, with less than 100. An assessment of risk management of small and medium scale. Assessment of challenges facing small and medium enterprises towards international marketing standards. Effects of multiple taxation on the performance of small. The study aimed at assessing the performance of business enterprises in nigeria, finding out if tax payers are aware of all their tax obligations, policies and problems affecting them as well as their.
Small and medium scale enterprises and economic growth in. In order to further promote the growth of small and medium scale enterprises in nigeria the federal government of nigeria also negotiated additional financial assistance from the world bank to complement other sources of funds available to small and medium scale enterprises. Issues, challenges and prospects of small and medium scale. They are in the forefront of output expansion, employment generation, income redistribution, promotion of indigenous entrepreneurship and production of primary goods to strengthen industrial linkages. The impact of information communication technology ict. Azende 2011 in the empirical evaluation of the performance of the small and medium scale enterprises equity. Time series data from central bank of nigeria cbn report on the activities of microfinance institutions. Small and medium scale enterprises and economic growth in nigeria.
Problems and prospects, was undertaken to find out if the sme subsector in nigeria has performed its critical role of driving the countrys industrial transformation and. The study provides an assessment of the supply of inputs line for the extractives industry in kwale and kitui counties. This project topic titled the role of small and medium scale enterprises in the nigerian economy with a case study of anzy shoes nig ltd aba is consist of 5 five chapters. Small and medium scale enterprises play an important economic role in many countries including nigeria. The study examined the impact of three marketing strategies product quality. The banks claim to promote the growth of small and medium enterprises in nigeria and this paper will substantiate the claim. Pdf small and medium scale enterprises smes and nigerias. Smedan small and medium enterprises development agency. This study is on the quantitative impact of small and medium scale enterprises smes on nigerias economic growth performance for the sample period 1993 to 2011. Entrepreneurship and economic development in nigeria. Correlation was used to substantiate whether there is similarity in the. The definition of msmes, change over time and depend, to a large extent, on a country s level of development. Yellow pages, list of nigeria companies in lagos, abuja, portharcourt. World bank facilities for small and medium scale enterprises.
This study investigated the risk management practices of small and medium scale enterprises in nigeria. Issues, challenges and prospects of small and medium scale enterprises smes in portharcourt city, nigeria by 1dr. In trying to establish the thrust of the paper we used secondary data and the adoption of econometric model. The small and medium scale industry is seen as a key to nigerias growth and. This national micro, small and medium enterprises policy is our concerted response to the challenge of developing the subsector of the nigerian economy in a structured and efficient manner. In every economy there are simple system as well as complex one. Mean scores and standard deviation were used to present and analyze the primary data obtained via questionnaires. Tax knowledge, penalties and tax compliance in small and. Cletus izunwanne emeti abstract the paper discussed issues, challenges and prospects of small and medium scale enterprises smes in portharcourtcity, nigeria. E department of management and accounting ladoke akintola university of technology, ogbomoso nigeria abstract. This study examines the impact of microfinance institutions in financing small scale enterprises for economic growth in nigeria. The results of the study therefore reveal that the most common constraints hindering small and medium scale business growth in nigeria are lack of financial support, poor. The role of microfinance institutions in financing small.
Small and medium scale enterprises financing and development. Bank was also vested with the power to administer the federal ministry to commence and industrys special funds for small and medium scale enterprises under a soft loan agreement. Therefore, it is concluded that the assessment of the past contributions of nigerian. The study examined the effects of payroll fraud on profitability of small and medium scale enterprises smes in nigeria. The econometric technique adopted for the study was multiple regression method based on ordinary least squares technique. The 2010 national msmes collaborative survey puts the number of micro, small and medium enterprises msmes in nigeria at 17,284,671 with a total employment of 32,414,884 and contributing 46.
The importance of micro, small and medium enterprises msmes in employment. Whether they deal in services or manufacturing, exporting smes show higher. This study is set to investigate the causes of failure in small scale enterprises in nigeria, with a view to proffer solutions. It is estimated that more than 95% of enterprises across the world are smes and they account for approximately 60% of private sector employment ayyagari et al. The impact of accounting system on the performance of. The small business administration sba of us defines a small business as one which is independently owned and operated for profit and is not dominant in its field hughes, 2011. Global evidence on the contribution to employment by the selfemployed, micro enterprises and smes the 2015 ilo report on smes and employment creation provides evidence on the relevance of smes for employment, the key constraints faced by smes and their workers, and the effectiveness of measures to support this enterprise segment. Over the years, small and medium scale enterprises smes have been an avenue of job creation and the empowerment of nigerian citizens, providing about 50% of all jobs in nigeria and also for local capital formation. Consequently, small and medium scale enterprises are defined as. The study was carried out to find out the impact of taxes on small and medium scale business enterprises in nigeria. In ghana, available data from the registrar general indicates that 90% of companies registered in 2006 are small and medium enterprises.
Risk management and insurance of small and medium scale enterprises smes in nigeria azende terungwa department of accounting, benue state university, makurdi, nigeria. Structure and constraints of micro, small and medium scale enterprises msmes in nigeria 1. Introduction micro, small and medium enterprises msmes are economic units whose number of employees or turnover falls below certain limits. It is aimed at finding out the extent to which small and medium scale enterprises, through their employment activities, helped to address poverty reduction. The contribution of small and medium scale enterprises smes has been recognized as main sustenance of the economy because of their capacity in enhancing the economy output and enhance human welfare.
Does micro finance banks give out loan to small and medium. The study examined tax compliance of small and medium enterprises sme in a developing country. This study assesses the financing options available to small and medium scale enterprises smes in nigeria to identify the one that is most patronized by them, using benue and nasarawa states as case study. Conceptual framework poverty, unemployment, and high crime rates in nigeria have been of great concerns to the. An overview of small and medium enterprises smes in.
Pdf the role play by small and medium scale enterprises smes in. The operations of small and medium scale enterprises smes occupy an admirable position in the economic landscape of most economies in the world, especially for developing countries. The prospects of small and medium scale enterprises in this 21st century africa include economic growth and development, source of employment and improvement in the welfare of people. Issn 22221697 paper issn 22222847 onlinevol 3, no 5, 2012 an assessment of risk management of small and medium scale enterprises in nigeria iopev, luper kwanum, isaac. In japan, small scale industry is defined according to the type of industry, paidup capital and number of paid employees. An assessment of risk management of small and medium scale enterprises in nigeria 1. Promoting and facilitating development programmes, instruments and support services to accelerate the development and modernization of msme operations. Oni o, daniya aa 2012 development of small and medium scale enterprises. Business outlook of small, medium and large scale enterprises. Usitc that examines the domestic and global operations of u. And medium scale enterprises in nigeria a survey of smes in oyo state nigeria. Small and medium scale enterprises are gaining widespread acceptance as viable drivers of economic growth. However, the small and medium sized development agency of nigeria. The impact of accounting system on the performance of small and medium scale enterprises in nigeria a survey of smes in oyo statenigeria.
This is a reference source suitable for professionals, practitioners, and academics interested in the. Nigerian business directory, contact addresses and profiles of 6000 major companies in nigeria. Small and medium scale enterprises smes have been recognized as main. Concepts, methodologies, tools, and applications provides a comprehensive collection of research on current technological developments and organizational perspectives on the scale of small and medium enterprises. Contribution of small and medium enterprises to economic. The role of small and medium scale enterprises in poverty. Their research revealed that mfis does and could contribute to the sustainable growth of smes in the country. The central bank of nigeria special credit programme for small and medium scale. Assessment of risk management of small and medium scale. This study is on the quantitative impact of small and medium scale enterprises smes on nigeria s economic growth performance for the sample period 1993 to 2011. This article xrays the role of small and medium scale enterprises smes in poverty reduction in nigeria, between 2001 and 2011. Fatai a 2009 small and medium scale enterprises in nigeria. Introduction the nation needs the small and medium enterprises smes because they contribute meaningfully to economic development.
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