ABSTRACT
The contributions of small business enterprises to any economy globally cannot be overemphasized. They are considered as the engine of growth and development of countries; for their contributions to the manufacturing subsector, diversification of output, and reduction of unemployment are immeasurable. Above all, their quick adoption and adaptation of technologies and reduced capital intensiveness provide an effective means of mitigating rural- urban migration. The main objective of this paper is to evaluate the survival strategies that will ensure sustained growth of small and medium enterprises in Nigeria. Primary data were applied in carrying out this research work. Chi square method was employed to analyze the data. The results reveal that creativity is a strategy for the survival of small business enterprises in Nigeria. The results also indicate that high risk taking is a strategy for the survival of SMEs in Nigeria. Lastly, the results also show that, areas of opportunities for business are a panacea for the survival of SMEs in Nigeria. It is recommended among others that prospective entrepreneurs should only go into business after taking a realistic view of their strengths and weaknesses and drawing up a well thought out business plan. Also, Government should provide infrastructures necessary to encourage and promote the growth and development of SMEs in Nigeria.
TABLE OF CONTENT
ABSTRACT
CHAPTER ONE
INTRODUCTION
1.1 Background of the Study
1.2 Statement of the Problem
1.3 Objectives of the Study
1.4 Research Questions
1.5 Hypotheses
1.6 Significance of the Study
CHAPTER TWO
LITERATURE REVIEW
Conceptual Exposition And
Review Of Related Literature
Nature And Meaning Of Small And Medium Enterprises
Entrepreneurship Theory
Small Business
History of Small Business Survival and Demise
Small Business and Business Leadership
Small Business and Business Strategies
Small Business and Organizational Change
Small Business and Finance
Small Business and Owner Characteristics
Small Business and Ownership Type
Small Business and Innovation
Problems of SMEs in Nigeria
CHAPTER THREE
METHODOLOGY OF RESEARCH
Area of the study
Research Design
Sample and Sampling procedure
Technique of Data Collection
Hypotheses tested
Method of data analysis
CHAPTER FOUR
FINDINGS AND DISCUSSIONS
Discussion of Findings
CHAPTER FIVE
CONCLUSION AND RECOMMENDATION
CONCLUSION
RECOMMENDATIONS
References
CHAPTER ONE
INTRODUCTION
1.1 Background of the Study
Business is an institution organized and operated to provide goods and services under incentive of private gain. the fundamental purpose of any business in the society is to provide goods and services for consumption and the process make profit. business is any human activities that is involved in the production and distribution of goods and services through a socially organized system of exchange. business comprises a wide variety of activities aimed at satisfying the needs and desire of people. It is the sum of total of human activities involved in a production and distribution of goods and services for the purpose of satisfying human wants. Business also refers to the whole field of industry, trade and finance and comprises activities such as agriculture, mining, quarrying, manufacturing, processing and retail distribution and services of all kind (Etuk 1995).
Business survival is the continued existence of a business despite prevailing unfavorable environment. A business cannot survive for a long time if it does not make use of strategies that will enable it maximize sufficient profit. Profit can be used to meet the home for business man. It could also be used to pay salaries of employees, buying raw materials etc.
Upon this background therefore, this research work seeks to examine the strategies that can enhance the survival of small scale business enterprises.
1.2 Statement of the Problem
The contributions of small scale business to the growth of any economy cannot be over emphasized. A cursory survey of small scale business enterprises in Nigeria reveal the incessant case of collapse of such business enterprises within few years of their existence the ugly situation is traceable to the use of ineffective business strategies by owners or operators of these enterprise. The continued collapse of small scale business enterprises will Leighton the level of unemployment and poverty in the country which will sub squally impact negative on the nation’s gross domestic product (GOP). These issues raised the concern of the researcher in examining the strategies for enhancing business survival in Nigeria.
1.3 Objectives of the Study
This research study intends to achieve the following objectives.
- To find out the strategies that can be used to enhance business survival inNigeria.
- To examine the role that government play in the promoting the survival.
- To identity the factors militating against business survival in small scale enterprises in Nigeria.
1.4 Research Questions
The following research question were formulated based on the objectives of the study;
(1) What are the contribution of small scale business to Nigeria economy?
(2) What are the strategies that can be used to enhance business survival in Nigeria?
(3) What are the role government play in the promotion survival in Nigeria?
(4) what are the factors militating against business survival in small scale enterprises?
1.5 Hypotheses
- Ho: Creativity is not a strategy for the survival of small and medium enterprises in Akwa-Ibom State.
- Ho: High risk taking is not responsible for the survival of small and medium enterprises in Akwa- ibom State.
- Ho: The identification of areas of opportunity for business operation is not a strategy for the survival of small and medium enterprises in Akwa-Ibom State.
1.5 Significance of the Study
This study will be beneficial to operators and owners of business enterprises in Akwa Ibom State and Nigeria as a whole as it will keep them to evaluate their operation and also highlight the challenges
