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Rating of SMEDAN programmes in supports of small business development for youth empowerment in Ondo State Nigeria.
Source publication
This research-based paper examines the impact that the national small enterprise development agency, established in line with policy, has had on employment creation and on the uptake of entrepreneurial pursuits amongst the youth in Nigeria. The potential extensive impact of the small, micro, medium enterprises (SMMEs sometimes also referred to as S...
Contexts in source publication
Context 1
... SME participants were asked to rate their perception and effectiveness of the enterprise development agency in supporting business development and youth empowerment, the responses, as depicted in Figure 2 below, showed that majority of them, (64,5%) were of the opinion that they had performed poorly to very poorly. Only about 27% believed that their performance in that regard was good to excellent. ...
Context 2
... SME participants were asked to rate their perception and effectiveness of the enterprise development agency in supporting business development and youth empowerment, the responses, as depicted in Figure 2 below, showed that majority of them, (64,5%) were of the opinion that they had performed poorly to very poorly. Only about 27% believed that their performance in that regard was good to excellent. ...
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Citations
... Data were collected from 55 owners of 55 SMEs who have registered with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and operate within the manufacturing sector of the regional economy. SMEDAN is a statutory agency of the government responsible for developing the SME sector in Nigeria to serve as the seedbed for economic growth and development (Ilori et al., 2018). Registration with SMEDAN is an indicator of proper practices in managing the registered SMEs. ...
There are growing media reports suggesting that the cosmetics industry in Nigeria is experiencing rapid growth and provides a veritable opportunity for entrepreneurial development. On the other hand, cash flow forecasting has been implicated in the growth and decline of entrepreneurship. However, little is known about the cash flow forecasting knowledge of many small business enterprises in Nigeria. The present study examined the cash flow forecasting knowledge among cosmetics entrepreneurs in River state, Nigeria. One hundred and seventeen small business enterprises conveniently selected from River state participated in the study. A self-developed instrument was used as a measure. The study adopted a cross-sectional survey design. The result was based on data from 41 (35%) retail businesses, 33 (28.2%) ICT operators, 16 (13.7%) small manufacturing firms, and 27 (23.1) engineering workshops in River state. Data were evaluated using the statistical package for social sciences (SPSS, version 23). A simple percentage formula was used to analyze the data to determine cash flow knowledge among the respondents. The result indicated that 78 respondents representing 66.7% of the total participants, scored high on cash flow knowledge, meaning they understand cash flow forecasting. The finding suggests that 39, representing 33.3% of the respondents, were not knowledgeable about cash flow forecasting. The result has implications for research and business analysis.
This study examined the relationship between small‐medium enterprises and employment in Nigeria. Annual data extracted from the ILO, WDI and CBN databases from 1991 to 2019 was subjected to various econometric techniques. The summary of findings that erupted in this work is as follows. Commercial banks loans to SMEs stimulate a significant employment creation in Nigeria. SMEs jobs have a significant positive contribution to employment creation in the country. Steaming from the findings of this study, whenever these policymakers want to create employment, policy and programmes that drive the expansion of SMEs oriented jobs should be implemented in the country.
The Federal Ministry of Industry, Trade and Investment (FMITI) is mandated by law to provide support services and creating conducive business environment that supports the transformation of both small and large scale industries in Nigeria. The FMITI mandate and task is facilitated through its subsidiary, the Small Medium Enterprises Development Agency of Nigeria (SMEDAN). This is against the background that the parastatal will facilitate development (if well supported) by triggering production, employment opportunities and growth. Especially in Nigeria, where the informal sector employs more people than the formal sector, but with declining affluences of micro and small businesses, questions must be asked concerning the effectiveness of the institution’s programmes and policies in revitalising, sustaining as well as growing the micro, small and medium enterprises (MSMEs) sector. In this paper, literature on monitoring and evaluation (M&E), legislative framework linked to the functioning of small and medium business sector is extensively reviewed. Furthermore, this paper will critically evaluate SMEDAN mandate to provide support services that will transform the informal sector of the Nigerian economy using existing monitoring and evaluation systems of selected programmes and policies put in place by the agency to indicate readiness (or lack thereof) of the current system to further develop the micro, small and medium enterprises (MSMEs) sector of the economy. This paper adopts qualitative and quantitative methodologies. It is anticipated that findings from this research-based paper will present lessons which can be harnessed to better reposition monitoring and evaluation systems hence, ensure effectiveness of future programmes and policies that will generate employment opportunities through SMEDAN.
Keywords: Monitoring and Evaluation, Systems, Micro, Small and Medium Enterprises (MSMEs).
