A CRITICAL LOOK AT THE NECESSITY OF SMALL BUSINESSES IN NIGERIA. A THEORETICAL REVIEW
A CRITICAL LOOK AT THE NECESSITY OF SMALL BUSINESSES IN NIGERIA. A THEORETICAL REVIEW

Summary/Abstract: The significance of small businesses in any economy can no longer be ignored. As a result, it is necessary tocontinually seek ways of improving their outcomes. The objective of this paper is to identify major obstaclesthat hinder the growth of small and medium enterprises in Nigeria. The paper benefits from insights fromextant literature to identify four key themes namely lack of business management skills; insufficient/nonfunctional infrastructure; regulatory demands; dissatisfaction with self-management of business; and inabilityto apply technology. These are discussed giving way to our concluding remarks which come in the form of aninventory of ‘to-do’ items that need to focused on in order to arrest the continual slippery slope state of smallbusinesses in Nigeria. Our thesis is that nations without a vibrant small and medium enterprise ecosystemsuffer from its absence

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