The International Institute for Science, Technology and Education (IISTE)
Abstract
This study investigated the SME growth-barrier chain in Nigeria. A target population of 39,600 was sampled using Taro Yamane method to achieve the surveyed 396 respondents. A well structured questionnaire was administered to collect the data. Percentage, descriptive, Likert analysis and regression analysis were used to explain the nature of the SME growth-barrier chain in Nigeria. Results of the study reveal that barrier factors have been influencing SMEs growth in Nigeria, and that the most significant among the barrier factors are entrepreneurial skill, irregular power supply and lack of business strategy. This study is limited by sample size and selection of SMEs at their clustered areas, and therefore may not be generalized to other sectors and countries. The study concludes that these factors cause epileptic growth or sudden death of SMEs in Nigeria. The study recommends that the government should engage in intervention programmes, and also ensure regular power supply in Nigeria. In addition, SME owner-managers should adopt and implement business strategies in their business environment. Keywords: SMEs growth. Barrier factors, employment, Business Strategy, Entrepreneurial Skil
