Received: 2019-03-10  |  Accepted: 2019-06-20  |  Published: 2019-09-30

Title

The role of SMEs development on poverty alleviation in Nigeria


Abstract

The role of SMEs development on poverty alleviation has been a core element of the current report. This study examined the role of small and medium enterprises on poverty eradication in Nigeria. Two research questions were posed for the study and two hypotheses formulated in line with the objectives. One hundred and forty two (142) questionnaires were administered randomly to the entire employee population of the SME companies that are registered with SMEDAN in Lagos Nigeria. The sample size was determined using Yamane formula. The data was analysed using manual and electronic based methods with the aid of data preparation grid and statistical package for the social sciences, (SPSS) statistical package version 21.0. The study made use of statistical tools which include: analysis of variance (ANOVA), correlation efficient and regression analysis in testing hypotheses where applicable. Therefore, the study found out that SME development affects poverty alleviation and also Training organized by SMEDAN affects SMEs employment creation. It was discovered that the small and medium enterprises provided employment opportunities, training ground, harnesses utilization of local resources and also acts as a pillar hold of a nation, Nigeria inclusive. The study concluded that a good development strategy if employed by these SMEs will grow to large-scale capital intensive. The study recommends that SMEs should source their loans from the financial institutions where interest rates are low.


Keywords

SMEs, poverty eradication, employment creation, training, SMEDAN


JEL classifications

M10


URI

http://jssidoi.org/ird/article/16


DOI


HAL


Pages

214-226


Funding

Parts of this text are spinoffs from research in the framework of the project European Union's Horizon 2020 Research and Innovation Programme projects European Cohort Development Project (ECDP) Grant Agreement No.777449 (2018-2019)

This is an open access issue and all published articles are licensed under a
Creative Commons Attribution 4.0 International License

Authors

Kowo, Solomon Akpoviroro
Kwara State University, Malete, Nigeria https://kwasu.edu.ng
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Adenuga, Olusegun Adeleke Oba
National Open University of Nigeria, Lagos, Nigeria http://nou.edu.ng
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Sabitu, Olalekan Owotutu
Ogun State Institute Of Technology (OGITECH), Igbesa, Nigeria https://ogitech.edu.ng
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Journal title

Insights into Regional Development

Volume

1


Number

3


Issue date

September 2019


Issue DOI


ISSN

ISSN 2345-0282 (online)


Publisher

VšĮ Entrepreneurship and Sustainability Center, Vilnius, Lithuania

Cited

Google Scholar

Article views & downloads

HTML views: 2233  |  PDF downloads: 1163

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