AYO-BALOGUN, A.O and OGUNSANWO, A.O (2019) IMPACT OF SMALL AND MEDIUM ENTERPRISES ON THE GROWTH OF NIGERIAN ECONOMY. In: 1st National WITED Conference, Ilaro Chapter., August 13 - 19, 2019, The Federal Polytechnic Ilaro, Ogun state.
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Impact of Small and Medium Enterprises on the Growth of Nigerian Economy.pdf Download (319kB) |
Abstract
This study investigated the impact of small and medium scale enterprises (SMEs) as the operators have being considered as main sustenance of the economy because of their capacity in enhancing the economy productivity and standard of living of the common man, as they account for over 50% of GDP of developing economies. The main objective of the work is to examine the contributions of SMEs on the growth of Nigerian economy for the period of 35 years between 1981-2015. This study adopted ex-post-facto research design and ordinary least square (OLS) method of estimation for data analysis. The data used for this analysis were generated from Central Bank of Nigeria (CBN) statistical Bulletin and Nigeria Bureau of statistics records. Stationery test was conducted on the series (data) and it was discovered that it consisted of unit root which was eliminated at first difference. Subsequently, a trend analysis and regression analysis were conducted. The result revealed that there was a positive significant relationship between SMEs and economic growth. It was also revealed that over 99% of variation in economic growth was accounted for by SMEs activities in the country. Based on the findings was conducted that SMEs are essential for rapid and sustainable economic growth and development; and in line with this it was recommended that Government should provide enabling environment for SMEs to thrive and provide assessable fund for SMEs.
| Item Type: | Conference or Workshop Item (Paper) |
|---|---|
| Subjects: | L Education > L Education (General) |
| Divisions: | Faculty of Law, Arts and Social Sciences > School of Management |
| Depositing User: | Unnamed user with email [email protected] |
| Date Deposited: | 28 May 2021 11:11 |
| Last Modified: | 28 May 2021 13:26 |
| URI: | http://eprints.federalpolyilaro.edu.ng/id/eprint/1392 |
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