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Economic Recession: The Small and Medium Scale Enterprises (SMEs) Experience in Nigeria

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  • Ehiabhi Andrew Tafamel

    (University of Benin, Nigeria)

Abstract

This study investigates the influence of economic recession on Small and Medium Scale Enterprises (SMEs) in Nigeria. The study employed primary data by distributing one-hundred (100) questionnaires to owners/managers, Senior Staff and Junior Staff of ten (10) selected SMEs in Benin City, Edo State of Nigeria. The regression technique of the ordinary least square was employed to analyze the data collected. The results revealed that sales revenue of SMEs and economic recession were negative and statistically insignificant, profitability of SMEs and economic recession was positive and statistically significant while government policies and economic recession were positive and statistically significant. The following are some of the recommendations made to ensure that SMEs are strategically positioned for success and also to help in achieving the overall goals of growth and development in the nation. Government should ensure that there is a sound government policy to be implemented in order to make Nigeria a manufacturing universal haven of small, medium and skill-intensive enterprises focusing on rural and semi-urban centres. SMEs must produce quality products and also market them effectively into the international markets.

Suggested Citation

  • Ehiabhi Andrew Tafamel, 2018. "Economic Recession: The Small and Medium Scale Enterprises (SMEs) Experience in Nigeria," Annals of the University of Petrosani, Economics, University of Petrosani, Romania, vol. 18(1), pages 249-260.
    • Handle: RePEc:pet:annals:v:18:y:2018:i:1:p:239-249-260
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    References listed on IDEAS

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    1. Christopher J. Coyne & Peter T. Leeson, 2004. "The Plight of Underdeveloped Countries," Cato Journal, Cato Journal, Cato Institute, vol. 24(3), pages 235-249, Fall.
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