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Entrepreneurship Support Agencies (ESA) and Development of Small and Medium Enterprises (SMEs) in Nigeria

Author

Listed:
  • Olufemi Amos Akinbola

    (College of Management Sciences, Federal University of Agriculture, Abeokuta)

  • Sekinat Arike Sanni

    (Department of Digital and Data Driven Marketing, University of Southampton)

  • Omolola Sariat Akinbola

    (Department of Business and Entrepreneurship, Kwara State University, Malete)

Abstract

Small and medium scale enterprises (SMEs) are lifeblood of most economies. On the average SMEs represent over 90% of the enterprises and account for 50 to 60% of employment in most African countries. This study appraised the developmental efforts of Enterprise Supporting Agencies (ESAs) and their Contribution to Small and Medium Scale Enterprise (SMEs) Growth in Nigeria. The study adopted survey technique of which about one hundred and eighty-five (185) questionnaire were administered to selected small businesses in Lagos State, Nigeria through purposeful random sampling to get primary data that treated appropriate research questions and two hypotheses were tested accordingly. The study found that the ESAs need to advance on their primary functions of advisory and informational support and that there is a relationship between training and development of ESAs to SMEs Growth in Nigeria. The study recommends that Government should work relentlessly towards providing infrastructural support, reduction of bottlenecks of business registration and mitigate the high costs of doing business and ESAs should be properly be regulated and the role of business support should not be duplicated by other agencies to enhance efficiency.

Suggested Citation

  • Olufemi Amos Akinbola & Sekinat Arike Sanni & Omolola Sariat Akinbola, 2019. "Entrepreneurship Support Agencies (ESA) and Development of Small and Medium Enterprises (SMEs) in Nigeria," ACTA VSFS, University of Finance and Administration, vol. 13(1), pages 29-43.
    • Handle: RePEc:prf:journl:v:13:y:2019:i:1:p:29-43
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    References listed on IDEAS

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    3. James P. Smith & John J. McArdle & Robert Willis, 2010. "Financial Decision Making and Cognition in a Family Context," Economic Journal, Royal Economic Society, vol. 120(548), pages 363-380, November.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    enterprise support agencies (ESAs); small and medium enterprises (SMEs); business support services; entrepreneurship;
    All these keywords.

    JEL classification:

    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • M1 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration
    • M19 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Other

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