Critical Analysis on the Causes of Small Scale Business Failure in Abia State and its Prospects (A Case Study of Ugwunagbo Local Government Area, Abia State)
This research work examines the causes of small scale business failure in Abia state. Survey experimental design is employed in this research work. In conducting the research, questionnaires were used. The sample size for the research consists of three (3) villages in Ugwunagbo Local Government Area. The data collected were tested statistically by the use of mean and simple percentage. The study revealed that lack of enough capital and insufficient income are the major factors that affect the small scale businesses at the Ugwunagbo local government area of Abia State and the solution to this is financial support from government/banks and siting a good location for business and the test of hypothesis revealed that the listed factors has significant effect on the failure of the small scale business at the Ugwunagbo local government area. The following recommendations such as; encouragement of financial institutions to extend loans at a less rate to small-scale business, sourcing of cheap and available raw material locally, consistency in government as it affects small-scale business, enhancement of the managerial skills of managers of small scale business, through seminars and workshops; small scale business owners should engage in business that are less competitive, were suggested.
The Impact of Cashless Policy on Small Scale Businesses in Ogoni Land of Rive...iosrjce
The purpose of this paper is to examine the impact of cashless policy on small scale businesses. The
study carried out in Ogoni of Rivers state, using the purposive sampling technique, 250 owners and operators of
small scale businesses were selected and administered questionnaire. The data collected were coded and
analyzed using frequency table and percentage, while regression analysis was used to test the formulated
hypotheses using SPSS (Statistical Package for Social Sciences). The results indicate that: small scale
businesses in Ogoni land are predominately occupied by sole proprietorship with meager income with a
significant numbers of them having a very poor banking habit; it was also found out that small scale businesses
statistically do not rely on heavy capital outlay; couple with the fact that provision of services is their main
business activity makes bank transaction, ATMs usage and online banking of less or no significance since their
transaction is grossly hinged on “cash and carry basis”; the findings from the study also suggest that operators
of small scale business have zero tolerance to ICT usage in both the operations and transactions of their
businesses; and this constitute a major challenge to the adoption of cashless policy in the study area and
generally, there was a negative significant influence of the introduction of cashless policy on the operations and
growth of small scale businesses in Ogoni land. Based on the findings some recommendations among others
made are: the need for government to harness efforts which should be directed at improving the activities of
small scale businesses through concerted policies, regulations and actions that will encourage and empower
small scale businesses financially thereby making the sector vibrant and productively ready to withstand a
cashless economy.
An Examination of Effectuation Dimension as Financing Practice of Small and M...iosrjce
IOSR Journal of Business and Management (IOSR-JBM) is a double blind peer reviewed International Journal that provides rapid publication (within a month) of articles in all areas of business and managemant and its applications. The journal welcomes publications of high quality papers on theoretical developments and practical applications inbusiness and management. Original research papers, state-of-the-art reviews, and high quality technical notes are invited for publications.
Exposure to financial distress in businesses adversely affects the groups related to the business and
the general economic structure. Financial distress, which is one of the most important research topics in the
recent finance literature, has always been important in economies with high cyclical fluctuations such as Turkey
and has turned into an area where intensive studies are carried out
Emotional Intelligence and Work Performance Relationship: A Study on Sales Pe...iosrjce
IOSR Journal of Business and Management (IOSR-JBM) is a double blind peer reviewed International Journal that provides rapid publication (within a month) of articles in all areas of business and managemant and its applications. The journal welcomes publications of high quality papers on theoretical developments and practical applications inbusiness and management. Original research papers, state-of-the-art reviews, and high quality technical notes are invited for publications.
The Impact of Cashless Policy on Small Scale Businesses in Ogoni Land of Rive...iosrjce
The purpose of this paper is to examine the impact of cashless policy on small scale businesses. The
study carried out in Ogoni of Rivers state, using the purposive sampling technique, 250 owners and operators of
small scale businesses were selected and administered questionnaire. The data collected were coded and
analyzed using frequency table and percentage, while regression analysis was used to test the formulated
hypotheses using SPSS (Statistical Package for Social Sciences). The results indicate that: small scale
businesses in Ogoni land are predominately occupied by sole proprietorship with meager income with a
significant numbers of them having a very poor banking habit; it was also found out that small scale businesses
statistically do not rely on heavy capital outlay; couple with the fact that provision of services is their main
business activity makes bank transaction, ATMs usage and online banking of less or no significance since their
transaction is grossly hinged on “cash and carry basis”; the findings from the study also suggest that operators
of small scale business have zero tolerance to ICT usage in both the operations and transactions of their
businesses; and this constitute a major challenge to the adoption of cashless policy in the study area and
generally, there was a negative significant influence of the introduction of cashless policy on the operations and
growth of small scale businesses in Ogoni land. Based on the findings some recommendations among others
made are: the need for government to harness efforts which should be directed at improving the activities of
small scale businesses through concerted policies, regulations and actions that will encourage and empower
small scale businesses financially thereby making the sector vibrant and productively ready to withstand a
cashless economy.
An Examination of Effectuation Dimension as Financing Practice of Small and M...iosrjce
IOSR Journal of Business and Management (IOSR-JBM) is a double blind peer reviewed International Journal that provides rapid publication (within a month) of articles in all areas of business and managemant and its applications. The journal welcomes publications of high quality papers on theoretical developments and practical applications inbusiness and management. Original research papers, state-of-the-art reviews, and high quality technical notes are invited for publications.
Exposure to financial distress in businesses adversely affects the groups related to the business and
the general economic structure. Financial distress, which is one of the most important research topics in the
recent finance literature, has always been important in economies with high cyclical fluctuations such as Turkey
and has turned into an area where intensive studies are carried out
Emotional Intelligence and Work Performance Relationship: A Study on Sales Pe...iosrjce
IOSR Journal of Business and Management (IOSR-JBM) is a double blind peer reviewed International Journal that provides rapid publication (within a month) of articles in all areas of business and managemant and its applications. The journal welcomes publications of high quality papers on theoretical developments and practical applications inbusiness and management. Original research papers, state-of-the-art reviews, and high quality technical notes are invited for publications.
Impact of Strategic Human Resource Management on Small and Medium Sized Enter...inventionjournals
The study investigated the impact of Strategic Human Resource management on small and medium enterprises in some selected local government areas in Abia State, Nigeria. 126 respondents were selected from 235 population of businessmen and women in the fourlocal government areas of Abia State. The general objective of the study is to investigate the place of Strategic Human Resource Management in improving corporate performance among SMEs in Abia State Nigeria. The study used descriptive statistics (frequencies, means and percentages) to answer the three research questions posed for the study. The Spearman Rank Correlation Coefficient was used to test the three hypotheses that guided the study. The results obtain from the analysis showed that there is a strong positive correlation between strategic Human Resource Management (SHRM) and performance level of competition in Small and Medium Sized Enterprises (SMEs). The major finding of the research work is that SHRM is an important and indispensable tool for any organizations performance and for any organization that wants to gain competitive advantage over others. The study therefore recommends that further studies be carried out in Nigeria to investigate the causes of non-adoption of Strategic HRM in Abia state in particular. The causes of this when known and curbed, small and medium scale industries in Nigeria might become more competitive in boosting the development of Nigerian economy.
A STUDY ON OPPORTUNITIES AND CONSTRAINTS FACED BY WOMEN ENTREPRENEURS IN E-CO...IAEME Publication
Women Entrepreneur is a single person or group of persons who take risks to meet their personal goals and are capable of contributing to both their family as well as society. Generally, Women Entrepreneurs has inbuilt quality of being creative and have strong desire to achieve maximum return with their invested capital. Today, Internet has changed the life of women professionally. Number of self-employed women have been increasing rapidly due to advancement in technology. Internet paved the way for evolution of E-Commerce platform for Women Entrepreneurs. Entrepreneurship among women has to be considered as important topic in our society as they act as catalyst for economic prosperity of our nation. The inadequacy of Entrepreneurship among Women may be due to family responsibilities, lack of business knowledge, male domination, self- fear and doubt etc. This paper identifies opportunities available for Women Entrepreneurs in E-Commerce and Challenges faced by Women Entrepreneurs in running their online business. For this, stratified random sample of sixty Women Entrepreneurs who are running their online business has been taken for data collection. Collected data are analysed using Chi-Square test. This research paper reveals that Education qualification of Women Entrepreneurs doing online business has no significant relationship with opportunities faced by Women Entrepreneurs in doing online business and Experience of Women Entrepreneurs in doing online business has no significant relationship with challenges faced by Women Entrepreneurs in doing online business.
A STUDY ON JOB COMPLETION OF WORKING WOMEN UNDER THE SERVICE SECTORS TIRUCHIR...IAEME Publication
There are many factors that contribute to job satisfaction and empowerment, according to this study. For the purposes of this paper, we will examine how much decision-making and decision-making power women have in the workplace. It is crucial for women to have a voice in all aspects of income generation, distribution, investment, and expenditure in order to achieve economic empowerment. Working women's empowerment programmes aim to help them exercise their rights as equal partners in society to participate in decision-making at all levels and in all spheres, both inside and outside the home. Women’s earning potential is being improved, and efforts are being made to guarantee that they have access to and control over all family/community assets.
Challenges of Small Scale Entrepreneurs in Dodoma Tanzaniainventionjournals
Small businesses irrefutably remain critical to the development of any nation’s economy as they are an excellent, source of employment creation, help in improvement of local skill, and extend aboriginal entrepreneurs. The small scale entrepreneurs who (either registered, unregistered, service or manufacturing or any other type) and have more than three years experience of entrepreneurship comprised the populace of the study. The method of convenience sampling was employed in arriving at the 100 Small firms. The major challenge could be lack of financial (Capital) resources. In the event funding institutions become flexible in their requirements for loan applications, respondents registered their willing to increase the number of their employees; the number of branches and willingness to accept specialized recommendation. In other ways, the only best way to help Small firm’s right of entry economic resources lies in the hands of funding institutions as acceptable and suggested by the best part of undersized entrepreneurs who submitted that the key determinants for seed resources attainment are: fair and low interest rates.
Factors Influencing Employee Engagement in Mysore Paints and Varnish Limitedijtsrd
The application of employee engagement had gained lot of attention in IT Industries. Employee engagement has also been spread to other Industries also. Keeping employee full engaged is very much essential. Engaged employee will be more productive, effective and efficient. In this paper factors influencing employee engagement in Mysore Paints And Varnish Limited is taken for the study. Hundred samples were taken for the study. Threety seven attribute were taken for analysis. Only nine factors have strong influence on employee engagement. Dr. Swathi. S "Factors Influencing Employee Engagement in Mysore Paints and Varnish Limited" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-6 , October 2021, URL: https://www.ijtsrd.com/papers/ijtsrd46403.pdf Paper URL : https://www.ijtsrd.com/management/hrm-and-retail-business/46403/factors-influencing-employee-engagement-in-mysore-paints-and-varnish-limited/dr-swathi-s
The Impact of Corruption on Firm Performance: Evidence from PakistanMuhammad Arslan
The purpose of this study is to investigate the impact of bribery on firm performance and provides quantitative
estimates of the impact of corruption on the performance of the firm. Impact of bribery is checked through the
questionnaire which is distributed among 100 respondents. In theoretical framework, firm performance is
dependent variable and bribery is independent variable. The correlation between firm performance and bribery
which is measure in obtaining more government contracts in questioner and bribery which is measure as cost of
obtaining the contracts is (r = -0.8012) having negative association between them. The size value of correlation
is (r = -0.0074 & -0.0056) showing that the size is not important in bribery and have subsequently have no affect
on firm performance. The value of R-Square in table 2 is close to 0.649 which indicate very well fit to data. It
means that almost 65 % change is due to the response variable (bribery). F-test value is very significant in both
table showing that the model is best fitted with the data. Sample size is one of the study limitation which could
be removed in future research by enlarging sample size.
A Study Factors Influence on Organisation Citizenship Behaviour in Corporate ...iosrjce
IOSR Journal of Business and Management (IOSR-JBM) is a double blind peer reviewed International Journal that provides rapid publication (within a month) of articles in all areas of business and managemant and its applications. The journal welcomes publications of high quality papers on theoretical developments and practical applications inbusiness and management. Original research papers, state-of-the-art reviews, and high quality technical notes are invited for publications.
International Journal of Business and Management Invention (IJBMI)inventionjournals
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online
DETERMINANTS OF SMALL BUSINESS PERFORMANCE IN OYE LOCAL GOVERNMENT, EKITI STA...AJHSSR Journal
ABSTRACT: This study was design to access the factors determining the performance of small and medium
enterprises (SMEs) in Oye Local Government, Ekiti State, Nigeria. A total of one hundred (100) questionnaires
were administered to respondents of which one hundred fifty (100) were also returned.Descriptive survey design
was used for the study. The population of the study is one thousand two hundred and forty (1, 240), a sample
size of one hundred (100). From the strata, random selection technique was applied in choosing the number that
will represent the sample size. Data were generated using questionnaire. Data collected were presented in tables
and analyzed using descriptive statistical tool was used to analyze the data collected. The results of the analysis
show that both financial and technological determinants are significant while infrastructural determinants were
not. It is recommended that government should improve on the infrastructural facilities in the local government
to improve the performance of the SMEs.
KEYWORDS: SMEs, Determinants, Performances
Impact of Strategic Human Resource Management on Small and Medium Sized Enter...inventionjournals
The study investigated the impact of Strategic Human Resource management on small and medium enterprises in some selected local government areas in Abia State, Nigeria. 126 respondents were selected from 235 population of businessmen and women in the fourlocal government areas of Abia State. The general objective of the study is to investigate the place of Strategic Human Resource Management in improving corporate performance among SMEs in Abia State Nigeria. The study used descriptive statistics (frequencies, means and percentages) to answer the three research questions posed for the study. The Spearman Rank Correlation Coefficient was used to test the three hypotheses that guided the study. The results obtain from the analysis showed that there is a strong positive correlation between strategic Human Resource Management (SHRM) and performance level of competition in Small and Medium Sized Enterprises (SMEs). The major finding of the research work is that SHRM is an important and indispensable tool for any organizations performance and for any organization that wants to gain competitive advantage over others. The study therefore recommends that further studies be carried out in Nigeria to investigate the causes of non-adoption of Strategic HRM in Abia state in particular. The causes of this when known and curbed, small and medium scale industries in Nigeria might become more competitive in boosting the development of Nigerian economy.
A STUDY ON OPPORTUNITIES AND CONSTRAINTS FACED BY WOMEN ENTREPRENEURS IN E-CO...IAEME Publication
Women Entrepreneur is a single person or group of persons who take risks to meet their personal goals and are capable of contributing to both their family as well as society. Generally, Women Entrepreneurs has inbuilt quality of being creative and have strong desire to achieve maximum return with their invested capital. Today, Internet has changed the life of women professionally. Number of self-employed women have been increasing rapidly due to advancement in technology. Internet paved the way for evolution of E-Commerce platform for Women Entrepreneurs. Entrepreneurship among women has to be considered as important topic in our society as they act as catalyst for economic prosperity of our nation. The inadequacy of Entrepreneurship among Women may be due to family responsibilities, lack of business knowledge, male domination, self- fear and doubt etc. This paper identifies opportunities available for Women Entrepreneurs in E-Commerce and Challenges faced by Women Entrepreneurs in running their online business. For this, stratified random sample of sixty Women Entrepreneurs who are running their online business has been taken for data collection. Collected data are analysed using Chi-Square test. This research paper reveals that Education qualification of Women Entrepreneurs doing online business has no significant relationship with opportunities faced by Women Entrepreneurs in doing online business and Experience of Women Entrepreneurs in doing online business has no significant relationship with challenges faced by Women Entrepreneurs in doing online business.
A STUDY ON JOB COMPLETION OF WORKING WOMEN UNDER THE SERVICE SECTORS TIRUCHIR...IAEME Publication
There are many factors that contribute to job satisfaction and empowerment, according to this study. For the purposes of this paper, we will examine how much decision-making and decision-making power women have in the workplace. It is crucial for women to have a voice in all aspects of income generation, distribution, investment, and expenditure in order to achieve economic empowerment. Working women's empowerment programmes aim to help them exercise their rights as equal partners in society to participate in decision-making at all levels and in all spheres, both inside and outside the home. Women’s earning potential is being improved, and efforts are being made to guarantee that they have access to and control over all family/community assets.
Challenges of Small Scale Entrepreneurs in Dodoma Tanzaniainventionjournals
Small businesses irrefutably remain critical to the development of any nation’s economy as they are an excellent, source of employment creation, help in improvement of local skill, and extend aboriginal entrepreneurs. The small scale entrepreneurs who (either registered, unregistered, service or manufacturing or any other type) and have more than three years experience of entrepreneurship comprised the populace of the study. The method of convenience sampling was employed in arriving at the 100 Small firms. The major challenge could be lack of financial (Capital) resources. In the event funding institutions become flexible in their requirements for loan applications, respondents registered their willing to increase the number of their employees; the number of branches and willingness to accept specialized recommendation. In other ways, the only best way to help Small firm’s right of entry economic resources lies in the hands of funding institutions as acceptable and suggested by the best part of undersized entrepreneurs who submitted that the key determinants for seed resources attainment are: fair and low interest rates.
Factors Influencing Employee Engagement in Mysore Paints and Varnish Limitedijtsrd
The application of employee engagement had gained lot of attention in IT Industries. Employee engagement has also been spread to other Industries also. Keeping employee full engaged is very much essential. Engaged employee will be more productive, effective and efficient. In this paper factors influencing employee engagement in Mysore Paints And Varnish Limited is taken for the study. Hundred samples were taken for the study. Threety seven attribute were taken for analysis. Only nine factors have strong influence on employee engagement. Dr. Swathi. S "Factors Influencing Employee Engagement in Mysore Paints and Varnish Limited" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-6 , October 2021, URL: https://www.ijtsrd.com/papers/ijtsrd46403.pdf Paper URL : https://www.ijtsrd.com/management/hrm-and-retail-business/46403/factors-influencing-employee-engagement-in-mysore-paints-and-varnish-limited/dr-swathi-s
The Impact of Corruption on Firm Performance: Evidence from PakistanMuhammad Arslan
The purpose of this study is to investigate the impact of bribery on firm performance and provides quantitative
estimates of the impact of corruption on the performance of the firm. Impact of bribery is checked through the
questionnaire which is distributed among 100 respondents. In theoretical framework, firm performance is
dependent variable and bribery is independent variable. The correlation between firm performance and bribery
which is measure in obtaining more government contracts in questioner and bribery which is measure as cost of
obtaining the contracts is (r = -0.8012) having negative association between them. The size value of correlation
is (r = -0.0074 & -0.0056) showing that the size is not important in bribery and have subsequently have no affect
on firm performance. The value of R-Square in table 2 is close to 0.649 which indicate very well fit to data. It
means that almost 65 % change is due to the response variable (bribery). F-test value is very significant in both
table showing that the model is best fitted with the data. Sample size is one of the study limitation which could
be removed in future research by enlarging sample size.
A Study Factors Influence on Organisation Citizenship Behaviour in Corporate ...iosrjce
IOSR Journal of Business and Management (IOSR-JBM) is a double blind peer reviewed International Journal that provides rapid publication (within a month) of articles in all areas of business and managemant and its applications. The journal welcomes publications of high quality papers on theoretical developments and practical applications inbusiness and management. Original research papers, state-of-the-art reviews, and high quality technical notes are invited for publications.
International Journal of Business and Management Invention (IJBMI)inventionjournals
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online
International Journal of Business and Management Invention (IJBMI)
Similar to Critical Analysis on the Causes of Small Scale Business Failure in Abia State and its Prospects (A Case Study of Ugwunagbo Local Government Area, Abia State)
DETERMINANTS OF SMALL BUSINESS PERFORMANCE IN OYE LOCAL GOVERNMENT, EKITI STA...AJHSSR Journal
ABSTRACT: This study was design to access the factors determining the performance of small and medium
enterprises (SMEs) in Oye Local Government, Ekiti State, Nigeria. A total of one hundred (100) questionnaires
were administered to respondents of which one hundred fifty (100) were also returned.Descriptive survey design
was used for the study. The population of the study is one thousand two hundred and forty (1, 240), a sample
size of one hundred (100). From the strata, random selection technique was applied in choosing the number that
will represent the sample size. Data were generated using questionnaire. Data collected were presented in tables
and analyzed using descriptive statistical tool was used to analyze the data collected. The results of the analysis
show that both financial and technological determinants are significant while infrastructural determinants were
not. It is recommended that government should improve on the infrastructural facilities in the local government
to improve the performance of the SMEs.
KEYWORDS: SMEs, Determinants, Performances
International Journal of Business and Management Invention (IJBMI)inventionjournals
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
The Effects of Industrial Environment, Innovation, and Government Policy on B...IOSR Journals
This research aims to provide information about the effects of industrial environment on business performance, industrial environment on business performance with innovation as moderating variable, innovation on business performance and innovation on business performance with government policy as moderating variable. The population of this research is all small industries especially Tenun Songket Riau in Pekanbaru City, Bengkalis Sub District, and Siak Sub District, as many as 330 business units. Sampling method used is proportional sampling with total sample of 110 business units. Structural Equation Modeling (SEM) is used as data analysis and to be processed with AMOS 16 software. The findings of this study are as follows: (1) the more dynamic industrial environment results better business performance of small industry of Riau Songket Weaving; (2) the more dynamic industrial environment supports innovation capability and impacts better business performance of small industry of Riau Songket Weaving; (3) the higher innovation capability of the business results better business performance of small industry of Riau Songket Weaving, and (4) the higher innovation capability and to be supported by conducive government policy impacts better business performance of small industry of Riau Songket Weaving.
The Moderating Effects of Entrepreneurial Learning on the Relationship betwee...theijes
The purpose of this study to know the Influence of Entrepreneurship Orientation on Business Performance with Entrepreneurial Learning as Moderating Variable in Small Medium Enterprises (SMEs) in Southeast Sulawesi (Studies in the Food Industry). Population totaled 109 IKM foods that have met the criteria spread over 4 (four) districts in Southeast Sulawesi province, that consists of: Konsel, Bombana, Kolaka and Kendari. The analysis technique used is Structural Equation Modeling (SEM) of AMOS7 and statistical software package SPSS (Statistic Packages for Social Sciences). In this study, researchers tested the validity of the simple correlation technique with SPSS version 12.0 The results of this study showed that the entrepreneurial orientation plays an important role in improving the performance of SMEs. The next entrepreneurial learning plays an important role in improving the performance of SMEs. There is a direct influence on the business performance of learning entrepreneurial SME food but not significant. The results of this study also prove that the entrepreneurial orientation moderated by entrepreneurial learning plays an important role in improving the performance of SMEs. This means that the entrepreneurial orientation will be stronger and not directly served to increase the performance of SMEs when supported with the right entrepreneurial learning in improving the performance of SMEs. This means that we need a learning that is applied so that the benefits of learning to give importance in the improvement of the performance of SMEs.
Growth Implications of Managerial Finance in Business: Empirical Evidence fro...Premier Publishers
The effective management of business finance is critically dependent on the proper understanding of the interrelationships between different dimensions of financial management and growth performance of the business. This study examines the relationship between selected managerial finance functions and growth of business in Akwa Ibom State, Nigeria using Pearson’s Product Moment Correlation model. The results show that all the managerial functions selected for the study are positively correlated with growth, but with varying levels of significance. The implication of the results is that, given the diversity and specialized nature of managerial finance, every dimension of management relating to financial resources should be taken seriously to ensure long-term sustainable growth of business.
Majority of SMEs collapse because they operate in business environment which is highly turbulent characterized by external factors as well as internal business factors. The study therefore sought to establish the effect of effect of product creation strategy on performance of small and medium enterprises in Eldoret town. The study was guided by Balanced Scorecard Theory. This study adopted descriptive research design. The target population of the study was 2,391 registered SMEs according to Uasin Gishu County government records and accessible population was 1764 respondents. The sample size for the respondents was therefore be 315. The study used questionnaires as the main tool for collecting data. The data collected was analyzed by using the excel program and Statistical Package for Social Science (SPSS) version 23. Data was analyzed using descriptive statistics such as mean, frequencies, percentages and standard derivation and inferential statistics which include correlation and multiple regressions. Data was presented by use of frequency tables, charts and graphs. The study findings a positive and significant effect of product creation strategy on small and medium enterprises in Eldoret Town (β=0.476, p<0.05). The study will be of benefit to management of medium enterprises and other organizations in understanding the challenges they would encounter when implementing various strategies and be able to come up with better ways of dealing with these challenges so as to be successful in their strategies. The study would be of importance to future researchers and scholars since it would be a source of material for their research and would also help them in identifying the research gaps they need to fill.
Entrepreneurial Orientation and Performance of Small and Medium Scale Enterpr...YogeshIJTSRD
Ineffective and poor entrepreneurial orientation seems to adversely affect performance of small and medium scale enterprises SMEs in Nigeria. Thus, the study was designed to examine relationship that exists between entrepreneurial orientation and performance of SMEs in South Eastern Nigeria. The study adopted a survey research design. The target population of the study comprised of 35,535 SMEs in South East Nigeria with a sample of 396 respondents, arrived at using Taro Yamane Formula. Data was collected using structured questionnaire and analyzed using, frequency, percentage and mean. Pearson Product Moment Correlation Coefficient was used to test the hypotheses at 5 level of significance. Results indicated that there exist a strong positive relationship between strategic orientation and market expansion of SMEs r=0.76, p value 0.05 and that there exist a strong positive relationship between market orientation and market sustainability of SMEs business activities r=0.83, p value 0.05 The study concluded that entrepreneurial orientation has positive impact on the performance of SMEs in South East Nigeria and recommended among others that SMEs need to embrace entrepreneurial orientation, strategic orientation and market orientation, to improve business performance. Chinedu Cosmas Onyemesi | Michael Augustine Ikon "Entrepreneurial Orientation and Performance of Small and Medium Scale Enterprises (SMES) in South-Eastern Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-5 , August 2021, URL: https://www.ijtsrd.com/papers/ijtsrd43904.pdf Paper URL: https://www.ijtsrd.com/management/business-economics/43904/entrepreneurial-orientation-and-performance-of-small-and-medium-scale-enterprises-smes-in-southeastern-nigeria/chinedu-cosmas-onyemesi
An Empirical Analysis of Entrepreneurial Ecosystem in Selected Asian Countriesijtsrd
The positive relationship between entrepreneurship and economic development through employment generation and poverty reduction has been well established in academic research. This is the rationale why governments across different countries try to comprehend the dynamics of entrepreneurship. There is growing interest in decoding the context in which entrepreneurship thrives. Research on œEntrepreneurial Ecosystem has gained momentum since it provides the necessary framework in which entrepreneurship develops. The objective of this study is to analyze the various components of entrepreneurial ecosystem and Total early stage entrepreneurial activity (TEA) in selected Asian countries. The research is based on secondary data related to entrepreneurial ecosystem and total early stage entrepreneurial activity, provided by Global entrepreneurship Monitor (GEM). The findings of the research indicate that there is need to improve the entrepreneurial ecosystem in Asian countries. Asian countries exhibit insufficient provisions of access to finance for entrepreneurs. Government policies and programs, taxes and bureaucratic regime are also insufficient for nurturing entrepreneurial environment. Entrepreneurship education and training both at basic school level and post school level are not sufficient for creating a conducive environment for entrepreneurs. Markets, infrastructural provisions and social and cultural norms are also not found to be sufficient for entrepreneurship to thrive in Asian context. Total early stage entrepreneurial activity (TEA) is also quite low for Asian countries. The findings of the study can be of instrumental value for academicians and policy makers interested in entrepreneurship development in Asia. Neha Tiwari"An Empirical Analysis of Entrepreneurial Ecosystem in Selected Asian Countries" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-2 | Issue-2 , February 2018, URL: http://www.ijtsrd.com/papers/ijtsrd9436.pdf http://www.ijtsrd.com/management/business-environment/9436/an-empirical-analysis-of-entrepreneurial-ecosystem-in-selected-asian-countries/neha-tiwari
Effect of micro finance on performance of women owned enterprisesfredrickaila
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Critical Analysis on the Causes of Small Scale Business Failure in Abia State and its Prospects (A Case Study of Ugwunagbo Local Government Area, Abia State)
1. IOSR Journal of Business and Management (IOSR-JBM)
e-ISSN: 2278-487X, p-ISSN: 2319-7668. Volume 19, Issue 1. Ver. I (Jan. 2017), PP 63-66
www.iosrjournals.org
DOI: 10.9790/487X-1901016366 www.iosrjournals.org 63 | Page
Critical Analysis on the Causes of Small Scale Business Failure in
Abia State and its Prospects (A Case Study of Ugwunagbo Local
Government Area, Abia State)
Dr. Onyebu Chinwe Monica
Department of Entrepreneurial Studies, Michael Okpara University of Agriculture, Umudike
Abstract: This research work examines the causes of small scale business failure in Abia state. Survey
experimental design is employed in this research work. In conducting the research, questionnaires were used.
The sample size for the research consists of three (3) villages in Ugwunagbo Local Government Area. The data
collected were tested statistically by the use of mean and simple percentage. The study revealed that lack of
enough capital and insufficient income are the major factors that affect the small scale businesses at the
Ugwunagbo local government area of Abia State and the solution to this is financial support from
government/banks and siting a good location for business and the test of hypothesis revealed that the listed
factors has significant effect on the failure of the small scale business at the Ugwunagbo local government area.
The following recommendations such as; encouragement of financial institutions to extend loans at a less rate to
small-scale business, sourcing of cheap and available raw material locally, consistency in government as it
affects small-scale business, enhancement of the managerial skills of managers of small scale business, through
seminars and workshops; small scale business owners should engage in business that are less competitive, were
suggested.
Keywords: Critical analysis, business failure, small scale,
I. Introduction
Background of Study
A small scale business can generally be referred to as a firm that is independently owned and operated
and which is not dominant in its field of operation Olokoyo(1998). Although small scale business have great
role to play in the developmental process of an economy, they are set to be among the drivers of the economy
since most practitioners of suchbusinesses come from that sector of the economy.
Finance has been identified in various business surveys as one of the most important factor that
determine the survival and growth of small and medium scale enterprises [SMEs] in both developing and
developed countries UNCTAD (2001).
Despite their size, they contribute as low as one percent to Gross Domestic Products (GDP) to the
country in contrast to countries like Indonesia, Thailand and India Where they contribute almost 40%(Sandaet
al, 2006). The low contribution in the country is linked to various factors such as lack of managerial capability,
poor governance practice, poor managerial talent, legal and regulation weaknesses and financial constraints
among others Oguntoye(1997).
In Abia state, there is thousands of business which fall into the category of small scale business. They
include weaving, carpentry, pottery and ceramics, farming, retail-trade, tailoring and dress-making. Setting up
and managing it, to fruition, can be rewarding, both financially and psychologically. However small-scale
business in Nigeria today faces a lot of problems. Many of those business have been forced to wind up due to
the economic condition, others management to succeed. The research has also increased the fall of some Small-
Scale business which has initially commenced with high hopes
It is at this background that the study sets out to look at the various cause of the alarming rate of small
scale business failure. The recommendation and conclusion, to be made at the end of this work, will provide
enough information to entrepreneur, both potential and existing business managers, to manage their business
venture successfully.
II. Objectives Of The Study
The main purpose of this study is to identify the Cause of failure of small scale business in Abia state and its
prospects. In view of the above, the research tends to find out the following:
a) To expose the various factors, that contributes to the failure of small-scale business.
b) To determine the extent these factors affect the small-scale business.
c) To provides possible ways the small scale business solve the problems.
2. Critical Analysis On The Causes Of Small Scale Business Failure In Abia State And Its Prospects…
DOI: 10.9790/487X-1901016366 www.iosrjournals.org 64 | Page
Research Questions
The study will examine the following questions:
a. What are the various factors that contribute to the failure of small scale business at the Ugwunagbo local
government area?
b. To what extent does the factors affect the small scale businesses at the Ugwunagbo local government area?
c. What are the possible ways the small scale businesses solve the problems?
Hypothesis
H01: Does the factors has any significant effect on the failure of the small scale business at the Ugwunagbo
local government area?
III. Research Methodology
Research Design
The study is a descriptive research survey. A sample is selected from the studypopulation, in order to generate
the information needed in the subject matter.
Description of Study of Population and Sample Size
Since the study was based on the causes of small scale business failure in Abia State, it concentrates
mostly in Ugwunagbo Local Government Area. It is usually not possible to study the entire large populations of
business in Ugwunagbo Local Government Area Abia state, so the research sampled some of the villages in the
local government area which are: Umuogele village (40), Umunkama village (40), Mkpumkpuevula village (40)
which gave a total of 120 sample size.
Data Collection and Instrument
In collecting the data and answering research questions, the researcher administered questionnaires to the 120
small-scale businessmen and businesswomen in the selected villages.
Procedures for Data Collection
To collect reliable information that is been needed, questionnaires were distributed in selected areas.
The success in the number of questionnaires was ensured through the deployment of assistance from friends,
who reside in those areas. The questionnaire used for this research work is a combination of open ended and
close ended questionnaires, where the respondent can give their opinions and tick their choice of answer in the
box provided. This form of research has been chosen in order to ease the work of the research in classifying and
analyzing individual opinion.
IV. Results And Discussion
Research questions one
What are the various factors that contribute to the failure of small scale business at the Ugwunagbo local
government area?
Table 1: The factors that contribute to the failure of small scale business
Factors Frequency Percentage (%)
Lack of enough capital 50 41.67
Bad location 15 12.50
Insufficient income 40 33.33
Little or no patronage 6 5.00
Family disagreement 1 0.83
Lack of labour 3 2.50
Price of goods 5 4.17
Total 120 100.0
Table 1 above showed the factors that contribute to the failure of small scale business at the
Ugwunagbo local government area. The result showed that 50 (41.67%) respondents agreed that lack of enough
capital contribute to the failure of small scale business, followed by 40 (33.33%) of the respondent for
insufficient income and the least factor is family disagreement with 1 (2.50%) of the respondents.
This indicated that lack of enough capital and insufficient income are the major factors that contribute
to the failure of small scale business at the Ugwunagbo local government area.
Research questions two
To what extent does the factors affect the small scale businesses at the Ugwunagbo local government area?
3. Critical Analysis On The Causes Of Small Scale Business Failure In Abia State And Its Prospects…
DOI: 10.9790/487X-1901016366 www.iosrjournals.org 65 | Page
Table 2: The extent the factors affected the small scale business
Factors Very high
extent (%)
High extent
(%)
Undecided
(%)
Low extent
(%)
Very low
extent (%)
Lack of enough capital 84 (70.00) 25 (20.83) 1 (0.83) 8 (6.67) 2 (1.67)
Bad location 50 (41.67) 44 (36.67) 0 (0.00) 19 (15.83) 7 (5.83)
Insufficient income 89 (74.17) 20 (16.67) 1 (0.83) 6 (5.00) 4 (3.33)
Little or no patronage 40 (33.33) 49 (40.83) 2 (1.67) 18 (15.00) 11 (9.17)
Family disagreement 20 (16.67) 60 (50.00) 3 (2.50) 24 (20.00) 13 (10.83)
Lack of labour 58 (48.33) 36 (30.00) 1 (0.83) 17 (14.17) 8 (6.67)
Price of goods 67 (55.83) 38 (31.67) 3 (2.50) 7 (5.83) 5 (4.17)
Mean Total 58.29 (48.57) 38.86(32.38) 1.57(1.31) 14.14(11.79) 7.14(5.95)
The analysis of the table above revealed the extent the factors listed in table 1 affected the small scale
business. 58.29 (48.57%) of the respondents agreed that the listed factors affect small scale business at very high
extent, 38.86(32.38%) of the respondents agreed that the listed factors affect small scale business at high extent,
while 14.14(11.79%) of the respondents disagreed at low extent and 7.14(5.95%)of the respondents disagreed at
very low extent. The remaining 1.57(1.31%) of the respondents and being the number of those who chose
“undecided” that the effect is interminable. This indicated that most of the respondents agreed that the listed
factors affect the small scale business in the Ugwunagbo local government area.
Research question three
What are the possible ways the small scale businesses solve their problems?
Table 3: The possible ways the small scale businesses solve their problems
Solution Frequency Percentage (%)
Financial support from the government/banks 39 32.50
Siting good location 25 20.83
Lending from friend and relatives 20 16.67
Advertisement 13 10.83
Family support 7 5.83
Labour support/assistance 9 7.50
Discount 7 5.83
Total 120 100.0
The analysis of the table above revealed the possible ways the small scale businesses solve their
problems. 39 (32.50%) of the respondents agreed that the financial support from the government/banks serves as
the major possible way the small scale businesses solves their problems, followed by 25 (20.83%) of the
respondents who agreed that siting good location also solves the small scale business’s problems.The least
response goes to solution from the family support and discounting with the same 7 (5.83%) number of
respondents. This indicated that financial support from the government/banks serves as the best ways small
scale businesses can solve their problems at the Ugwunagbo local government area.
Test of Hypothesis
Does the factors has any significant effect on the failure of the small scale business at the Ugwunagbo local
government area?
Table 4: Effect of the listed factors on the failure of the small scale business
Option No of Responses Percentage (%) Decision
Lack of enough capital 64 3.75 Agreed
Bad location 67 3.97 Agreed
Insufficient income 78 4.54 Agreed
Little or no patronage 76 4.42 Agreed
Family disagreement 63 3.66 Agreed
Lack of labour 83 4.76 Agreed
Price of goods 69 3.96 Agreed
Total 500 29.06
4.151
Source: Field Survey, 2016
The table 4 above showed that the respondents agreed that lack of enough capital, bad location,
insufficient income, little or no patronage, family disagreement, lack of labour and price of goods serves as the
significant factors that causes that failure of the small scale business at the Ugwunagbo local government area
with 3.75, 3.97, 4.54, 4.42, 3.66, 4.76 and 3.96 means respectively. This indicated that the respondents
perceived the options as positive rather than negative considering the clustered mean of 4.151 (from the decision
rule any mean response of 3.0 and above should be regarded as a positive influence).
4. Critical Analysis On The Causes Of Small Scale Business Failure In Abia State And Its Prospects…
DOI: 10.9790/487X-1901016366 www.iosrjournals.org 66 | Page
V. Conclusion
This study to a large extent attempted to reveal the causes of small scale business failure and the
possible solutions. It also evaluated the possible ways these factors can be solved.
Due to the various contributions of small-scale business in the development ofUgwunagbo local
government area of Abia State, both governmental and non-governmental organizations should play their roles;
to enhance and encourage more entrepreneurs and small scale business owners in creating employment and
reducing or alleviating poverty.
The study revealed that lack of enough capital and insufficient income are the major factors that affect
the small scale businesses at the Ugwunagbo local government area of Abia State and the solution to this is
financial support from government/banks and siting a good location for business.
VI. Recommendations
In order to ensure effectiveness in operation of small scale enterprises in Umwunagbo Local
Government Area, Abia State, the government should render financial and managerial assistance to small scale
businesses in Abia State. Encouragement of financial institutions to extend loans at a less rate to small-scale
business, sourcing of cheap and available raw material locally, consistency in government as it affects small-
scale business, enhancement of the managerial skills of managers of small scale business, through seminars and
workshops; Small scale business owners should engage in business that are less competitive, were suggested.
Also small scale business owners should establish in tangible assets that are of long-term in order to help
stabilize the economy.
References
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