SMEs
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Successful entrepreneurs are dynamic, visionary and relationship-oriented. Their flexibility enables adaptation to strategic business management approaches and, as Christensen (2013) noted, the importance of people, process and technology to business growth is better understood by the 21st century advancements in ICT, changing consumer preferences and constantly-evolving business management ideas. SMEs in Nigeria therefore collapse because…
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Anyanwu (2001) defined entrepreneurship as the act of organizing and effectively managing risk-prone factors of production for profitability and sustainable growth of businesses. SMEs in Nigeria started with private-sector indigenization in 1956, when the British Colony established Federal Loans Board to control credit facilities. In early 1970s, FG initiated the small-scale industries scheme, including…
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Entrepreneurs often lack human and material resources needed for multidisciplinary activities in accounting, HR, marketing and sales. Innovative leaders thus need to strategize on optimizing use of people, process and technology (Schaupp & Bélanger., 2014). According to Asomaning and Abdulai (2015), businesses in the SME sector appear similar but have different challenges which may…
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SMEs, AGRICULTURE AND ECONOMIC GROWTH Before the oil boom, agriculture was a major National Income (NI) earner through cash crops such as rubber, palm produce, cocoa and groundnuts. According to Adeyemi & Abiodun (2014), the agricultural sector thrives on SMEs. The two sectors offer over 90% of total jobs in Nigeria, contribute immensely to…
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CHAPTER TWO LITERATURE REVIEW 2.1 AN OVERVIEW OF SMALL AND MEDIUM-SCALE ENTERPRISES (SMEs) SMEs stimulate economic development by facilitating productive activities in different sectors of the economy. It increases National Income (NI) and enables equitable distribution of wealth through employment, industrial linkages, export promotion and value creation for investors, customers and stakeholders, including the…
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A PhD. Thesis on THE SOCIO-POLITICAL IMPACT OF SMEs IN LAGOS STATE November, 2018 TABLE OF CONTENTS ABSTRACT Governments around the globe encourage entrepreneurial development as the major route to economic growth. In Nigeria, the words “beyond oil” have been used by political leaders, policymakers and scholars to emphasize the need for a diversified and…
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