Skip to main content

Financial and Non-financial Performance of Small Businesses in Nigeria: An Empirical Evidence of the Role of Environmental Factors | Chapter 8 | Current Perspective to Economics and Management Vol. 1

The role small businesses play in the economy of countries are very germane. They enhance the growth and development of nations through massive job creation, contribution to the Gross Domestic Product (GDP) and consequently reducing poverty and crime rates. Despite their importance, small businesses all over the world especially developing countries face diverse challenges that affect their performance. The objective of this study is to investigate the environmental factors that impact the financial and non-financial performance of small businesses. A survey method was used to gather data from two hundred and four small business owners and managers located in selected cities in Nigeria. Descriptive statistics and correlation analysis were conducted to identify the relationship between internal and external environmental factors and the performance of small  businesses in Nigeria. The results of the study reveal that inadequate finance, inadequate infrastructure and poor managerial skills have significant and negative relationship with small businesses' performance. Meanwhile, inadequate finance is the most significant factor while, inadequate infrastructure is the least significant factor.

This study emphasizes the need for favourable government policies to support small scale businesses in easy access to finance and training. Small business owners are advised to regularly attend workshops, training and seminars for skills update. Government is also implored to fix dilapidated infrastructure in the country. In the case of this study revealed, inadequate infrastructure least affects MSEs performance. This appears to be the availability of substitutes for many infrastructural deficits. For example, there is no stable electricity in Nigeria, but most MSEs can afford at least a small generator popularly called "I pass my neighbour" to power their businesses. Also it is scarce to get pipe borne water, but many alternative exists e.g. bottled water, sachet water, buying water in large quantity from private borehole water suppliers or fetching from wells.

Author(s) Details

Olakunle Jayeola
Department of Business Administration, Faculty of Social and Management Sciences, Adekunle Ajasin University, Akungba Akoko, Ondo State, Nigeria.

Akintan Akinyemi Akindele
Department of Business Administration, Rufus Giwa Polytechnic, PMB 1019, Owo , Ondo State, Nigeria.

Akinnigbagbe, Victor Makinde
Department of Social sciences. Rufus Giwa Polytechnic, PMB 1019, Owo, Ondo State, Nigeria.

Read full article: http://bp.bookpi.org/index.php/bpi/catalog/view/26/80/172-1
View Volume: https://doi.org/10.9734/bpi/cpem/v1

Labels:

Comments

Post a Comment

Popular posts from this blog

Greening Regional Airports: A Vision for Carbon Neutral Infrastructure | Chapter 12 | Contemporary Perspective on Science, Technology and Research Vol. 3

 This study provides an overview of the energy demand of a regional airport, divided into individual time horizons. The electrification of aircraft systems raises the question of whether airports will be among the largest electricity consumers in our infrastructure in the future. Sustainability and especially emission reductions are significant challenges for airports that are currently being addressed. The Clean Sky 2 project GENESIS addresses the environmental sustainability of hybrid-electric 50-passenger aircraft systems in a life cycle perspective to support the development of a technology roadmap for the transition to sustainable and competitive electric aircraft systems. This article originates from the GENESIS research and describes various options for ground power supply at a regional airport. Potential solutions for airport infrastructure with a short (2030), medium (2040), and long (2050) time horizon are proposed. In addition to the environmental and conservation benefi...
Post a Comment
Read more

Alkali Element Modification of Glucose Molecules as a Method to Dissolve Cancer Cells | Chapter 12 | New Visions in Medicine and Medical Science Vol. 4

  The present study highlights about alkali element modification of glucose molecules as a method to dissolve cancer cells. The central regulation of the mechanisms governing cell proliferation has little effect on cancer cells. Cancer cells are entirely independent of the central command and divide and proliferate on their own, making it challenging to activate their response mechanism. Precisely, this is the reason why they are at risk to the health of humans and/or any biological entities. Instead of trying to reconnect the central command of the growth control mechanism to cancer cells that are already out of the range, we present a method of using the cancer cell’s own irresponsive and uncontrolled growth mechanism to their disadvantage and destroy the cancer cells. We found that this is achievable in an atomic/molecular level study of the glucose molecule, which is the primary food source used for growth and energy generation by all cells in the body, including the cancer cel...
Post a Comment
Read more

Diagnosis and Management of Scrapie in Post Mortem Goats by Immunohistochemistry | Chapter 6 | New Visions in Medicine and Medical Science Vol. 4

  The main objective of this study was to contribute to the annual passive surveillance for this pathology, since the goats are a species considered reservoir for the prion. A class of pathologies known as Transmissible Spongiform Illnesses (TSEs), which affect both humans and animals, includes scrapie, a neurological disease with a slow and deadly course that affects sheep, goats, and mouflons. Given that Immunohistochemistry (IHC) is the globally accepted technique for identifying classical scrapie in goats—a species thought to be a potential zoonotic disease reservoir. Chile in relation to Bovine Spongiform Encephalopathy (BSE), is classified as a disease-free country. Scrapie is actively monitored for the sheep, but passively for the caprine species, which is why this study was carried out in slaughtered goats in the central north of the country (IV Region), to provide information to the surveillance system for this disease. Fifty brains of goats older than 2 years were used, r...
Post a Comment
Read more