Project Abstract

Management practice and performance of small and medium scale enterprises (SMEs) in Nigeria are critical factors that influence the overall economic development of the country. This study aims to investigate the relationship between management practices and the performance of SMEs in Nigeria, focusing on various aspects such as strategic management, human resource management, financial management, and marketing management. The research will adopt a mixed-methods approach, combining both quantitative and qualitative data collection techniques. A survey questionnaire will be used to gather quantitative data from a sample of SMEs across different sectors in Nigeria. The questionnaire will focus on various management practices employed by SMEs, including planning, organizing, leading, and controlling functions. Additionally, interviews and focus group discussions will be conducted to gather qualitative insights from SME owners and managers regarding their management practices and the challenges they face in running their businesses. The study hypothesizes that effective management practices, such as strategic planning, employee training and development, financial planning, and market research, positively impact the performance of SMEs in Nigeria. It is expected that SMEs that implement sound management practices will experience higher levels of growth, profitability, and sustainability compared to those with poor management practices. The findings of this research will have significant implications for policymakers, business owners, and other stakeholders in the SME sector. By understanding the link between management practices and performance, policymakers can design more targeted interventions to support SME development in Nigeria. Business owners can also use the findings to improve their management practices and enhance the performance of their enterprises. Overall, this study contributes to the existing literature on management practices and SME performance in Nigeria. By providing empirical evidence on the relationship between management practices and performance, the research aims to fill a gap in the current literature and provide valuable insights for future research and policy development in the SME sector.

Project Overview

INTRODUCTION

1.1 BACKGROUND OF THE STUDY

The small and medium scale enterprises (SMEs) have been generally acknowledged as the bedrock of the industrial development of any country. Apart from the numerous goods and services, they provide a veritable means of large scale employment as they are usually labour intensive. (Yerima et al 2007). In developing countries, Nigeria have since the 1970‟s shown increased interest in the financing and promoting small and medium scale enterprises from three main reasons. According to Owuallah, (19999:9), these reasons are:

    Transformation of traditional or indigenous industry Increase in job creation.

    Redistribution of wealth and income

They also provide training grounds, for entrepreneur even as they generally rely on more on the use of local materials. Osaba, (1987:105) says that, the distribution of goods has continued to be the only viable and reliable option for development, growth and survival of any economy. The work explore the role and contribution, constraints and prospects of the small as it contributes to the growth and development of the Nigeria economy, and the government efforts, internal and external support.

(SMES) have been full recognized by government and development experts as the main engine of economic growth and major factor in promoting private sector development and partnership (Adeusiyi, 1997:95).

Ajakaiye (2003) state that the central bank of Nigeria (CBN) has initiated a project for baseline economic studies to develop in integrated information system for SMEs to foster better implementation of small and medium industries equity investment scheme (SMES).

Federal government has facilitate SMEs by established National Association of Small and Medium Industries (NASSI), Central for management development (CMD), Fund for Small Scales Industries (FUSSI). This is because of her concern for the survival of the SMEs.