IDEAS home Printed from https://ideas.repec.org/a/hur/ijaraf/v4y2014i2p255-263.html
   My bibliography  Save this article

Evaluation of Survival Strategies of Small and Medium Enterprises in Benue State, Nigeria

Author

Listed:
  • Justin Iorakpen Iorun

Abstract

The contributions of small business enterprises to any economy globally cannot be overemphasized. They are considered as the engine of growth and development of countries; for their contributions to the manufacturing subsector, diversification of output, and reduction of unemployment are immeasurable. Above all, their quick adoption and adaptation of technologies and reduced capital intensiveness provide an effective means of mitigating rural-urban migration. The main objective of this paper is to evaluate the survival strategies that will ensure sustained growth of small and medium enterprises in Nigeria. Primary data were applied in carrying out this research work. Chi square method was employed to analyze the data. The results reveal that creativity is a strategy for the survival of small business enterprises in Nigeria. The results also indicate that high risk taking is a strategy for the survival of SMEs in Nigeria. Lastly, the results also show that, areas of opportunities for business are a panacea for the survival of SMEs in Nigeria. It is recommended among others that prospective entrepreneurs should only go into business after taking a realistic view of their strengths and weaknesses and drawing up a well thought out business plan. Also, Government should provide infrastructures necessary to encourage and promote the growth and development of SMEs in Nigeria.

Suggested Citation

  • Justin Iorakpen Iorun, 2014. "Evaluation of Survival Strategies of Small and Medium Enterprises in Benue State, Nigeria," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 4(2), pages 255-263, April.
    • Handle: RePEc:hur:ijaraf:v:4:y:2014:i:2:p:255-263
    as

    Download full text from publisher

    File URL: http://hrmars.com/hrmars_papers/Article_25_Evaluation_of_Survival_Strategies1.pdf
    Download Restriction: no
    File URL: http://hrmars.com/hrmars_papers/Article_25_Evaluation_of_Survival_Strategies1.pdf
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Solomon Akpoviroro Kowo & Olusegun Adeleke Oba Adenuga & Olalekan Owotutu Sabitu, 2019. "The role of SMEs development on poverty alleviation in Nigeria," Post-Print hal-02188849, HAL.
    2. Solomon Akpoviroro Kowo & Olusegun Adeleke Oba Adenuga & Olalekan Owotutu Sabitu, 2019. "The role of SMEs development on poverty alleviation in Nigeria," Insights into Regional Development, VsI Entrepreneurship and Sustainability Center, vol. 1(3), pages 214-226, September.
    3. RPIR Prasanna & JMHM Upulwehera & BDTN Senarath & GAKNJ Abeyrathne & PSK Rajapakshe & JMSB Jayasundara & EMS Ekanayake & Sisira Kumara Naradda Gamage, 2021. "Factors Determining the Competitive Strategic Positions of the SMEs in Asian Developing Nations: Case Study of SMEs in the Agricultural Sector in Sri Lanka," Economies, MDPI, vol. 9(4), pages 1-24, December.
    4. Maxwell Olokundun & Mercy Ejovwokeoghene Ogbari & Hezekiah Falola & Ayodotun Stephen Ibidunni, 2022. "Leveraging 5G network for digital innovation in small and medium enterprises: a conceptual review," Journal of Innovation and Entrepreneurship, Springer, vol. 11(1), pages 1-10, December.
    5. Honesta C. Anorue & Ernest.O. Ugwoke, 2022. "Management of Account Receivable and Payable for Improved Financial Performance of Small Scale Industries in Imo State, Nigeria," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 6(4), pages 100-107, April.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hur:ijaraf:v:4:y:2014:i:2:p:255-263. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Hassan Danial Aslam (email available below). General contact details of provider: http://hrmars.com/index.php/pages/detail/Accounting-Finance-Journal .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.