Mitigating the Challenges of Small and Medium Enterprises in Nigeria

Gumel, Babandi Ibrahim

doi:10.33215/sjom.v2i3.129

Cited by 9 publications

(8 citation statements)

References 39 publications

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“…This paper deliberately avoids the challenges experienced by the corporates because they are better as compared to SMEs. However, the challenges which are dominant, include amongst other, lack of finance, lack of skills and knowledge and poor marketing strategies (Gumel, 2019).…”

Section: The Challenges Faced By Small and Micro Enterprises In The M...mentioning

confidence: 99%

Analysis of the Business Inequalities Stimulated by the Fourth Industrial Revolution Between Corporates and Small and Micro Enterprises in South Africa

Selelo

Khwela

2022

TSSJ

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Most of the authors have discussed how technology could enhance the effectiveness and efficiency of the production in various businesses. Yet, there is still a gap in literature, and little has been researched about the business inequalities which are fuelled by the Fourth Industrial Revolution (4IR) between Small and Micro Enterprises (SMEs) and corporates. The aim of this paper is to theoretically analyse the business inequalities instigated by the 4IR between corporates and SMEs. The paper argues that the 4IR is advocated by the corporates to increase their production because they are well-resourced and is a disadvantage to the SMEs due to their poor resources. The inadequate analysis of the business inequalities due to the inception of the 4IR provides a vacuum for further conceptual investigation of the phenomenon. The paper used literature-based methodology to analyze the business inequalities brought by the 4IR between corporates and SMEs. This methodology provided an extensive conceptual review of the literature regarding the subject under investigation. This paper reveals that the critical factor of production in corporates appears to be technology which increases production. In that, the 4IR is beneficial to the corporates and a disadvantage to the SMEs. Therefore, the literature indicated that there is an inevitable huge inequality between corporates and SMEs. The paper concludes that there are great business inequalities between corporates and SMEs brought by the 4IR. Thus, the paper recommends the support structures/organizations to assist the SMEs to respond to the growing technology and attempt to close the business inequalities.

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Section: The Challenges Faced By Small and Micro Enterprises In The M...mentioning

confidence: 99%

Analysis of the Business Inequalities Stimulated by the Fourth Industrial Revolution Between Corporates and Small and Micro Enterprises in South Africa

Selelo

Khwela

2022

TSSJ

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“…Njanike (2019) suggested that to combat these issues, the government should provide an enabling policy so that start-ups could have better growth, profitability, and create better job opportunities. Overall, the main areas of focus for entrepreneurs in the identified African countries are appropriate education, skill, and long-term financing (Gumel, 2019).…”

Section: Challenges Faced By Start-ups In African Countries: Ethiopia Angola and Chadmentioning

confidence: 99%

The Five Biggest Factors Challenging Startups in Nepal

Rijal

Poudel

Upadhyay

2021

WIJAR

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There are a variety of factors that pose challenges for start-ups globally. These challenges vary based on the country, region, or economy of operation. Research identified the challenges start-ups face depending on whether start-ups were established in developed or undeveloped countries. However, few research studies have been conducted in Nepal. Hence, the purpose of this study was to examine the top five factors that hindered start-up formation or posed difficulty for the growth of start-ups within Nepal between 2017 to 2020. The primary data was collected using a mixed method using purposive sampling consisting of an in-depth interview followed by a survey with entrepreneurs and experts of the entrepreneurial ecosystem of Nepal. The authors administered an in-depth interview with open-ended questions and then conducted key informant interviews. Throughout the interviews, the five major issues identified as hindering start-ups were human capital, finance, support system, policy, and marketing.

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“…MSMEs are responsible for 7.64 percent of Nigeria's export receipt (National Survey on MSMEs, 2017). SMEs assist in the growth of Nigeria's economy, employs citizens, and, therefore, a means of livelihood and also poverty reduction (Gumel, 2019). SMEs help in mobilization of idle funds and direct the same for utilization of the formal sector (Ademola & Michael, 2012).…”

Section: The Importance Of Small Business To Nigeria's Economymentioning

confidence: 99%

The Impact of Entrepreneurial Networks on The Performance of Small Business in Nigeria

Aladejebi

2020

ABR

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Networking is ultimately the process of exchanging information between two or more people; in this case, entrepreneurs. The main objective of this paper is to look into the firm attributes related to formal networking and investigate whether membership in formal networks in the form of business associations and industry/trade-specific associations has been an impact on the growth of SMEs business in Lagos, Nigeria. A purposeful sample was used to select respondents. Questionnaires designed to examine the views of the entrepreneur about SME networking were distributed amongst two SME groups, namely Nigerian Association Of Small Scale Industrialists (NASSI), Lagos, and PHARMALLIANCE (Association of Community Pharmacists). The research instrument was based on a five-point Likert scale. The questionnaire administered contained 2parts, Part 1: contains general information, while Part 2: contains specific questions relating to networking. The results of the analysis showed a generally positive overview of SME networking in Nigeria. The respondents mostly agree across both groups that networking is of great benefit to their businesses.

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Mitigating the Challenges of Small and Medium Enterprises in Nigeria

Cited by 9 publications

References 39 publications

Analysis of the Business Inequalities Stimulated by the Fourth Industrial Revolution Between Corporates and Small and Micro Enterprises in South Africa

Analysis of the Business Inequalities Stimulated by the Fourth Industrial Revolution Between Corporates and Small and Micro Enterprises in South Africa

The Five Biggest Factors Challenging Startups in Nepal

The Impact of Entrepreneurial Networks on The Performance of Small Business in Nigeria

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