Small and Medium Scale Enterprises as A Survival Strategy for Employment Generation in Nigeria
By A. M. Ayanda, Adeyemi Sidikat Laraba. 2011
424 citations recorded by the source corpus.
Small and medium enterprises have been considered as the engine of economic growth and for promoting equitable development. The major advantage of the sector is its employment potential at low capital cost. The labour intensity of the SME sector is much higher than that of the large enterprises. The role of small and medium enterprises in the economic and social development of the country is well established. The sector is a nursery of entrepreneurship, often driven by individual creativity and innovation. The paper concludes that besides the growth potential of the sector and its critical role in the manufacturing and value chains. There wide spread in Nigeria and the multiplier effects they have on the rest of the economy enable them to be the engine of economic progress. It was also noted that the SME sector is the main driving force behind job creation, poverty reduction, wealth creation, income distribution and reduction in income disparities. Most of the government interventions failed to create a much needed transformation due to poor coordination and monitoring and policy inconsistencies. SME sector also formed the vanguard of the modern enterprise sector and presents the propelling force of economic modernization and growth in Nigeria. They are important sector that need to be adequately factored into policy making and programme implementation in Nigeria.
Subfields: Economics and Econometrics
View Paper: https://www.semanticscholar.org/paper/f6e14d3947d59b6bbd943a4b4cbd10e782e7fad0
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In Economics and Econometrics
Citations in the corpus
- The Impact of Transformational Leadership on Job Performance and CSR as Mediator in SMEs (2019, background): “SMEs become one of the key instruments that drive a country’s financial, economic, political, and social growth, and the main source of poverty alleviation in developing nations [2].”
- SMEs in sustainable development: Their role in poverty reduction and employment generation in sub-Saharan Africa (2020, background): “Several studies have attempted to examine the role of SMEs in poverty reduction and employment creation (Dornberger and Fromm 2005; Vandenberg 2006; Kufour 2008; Aremu and Adeyemi 2011; Sokoto and Abdullahi 2013; Mamman et al. 2015). In his opening remarks at the Economic and Social Council (ECOSOC)”