The Impact of Information Communication Technology on Small and Medium Scale Enterprises in Nigeria (Published)
Today we live in an information society in which more people must manage more information, which in turn requires more technological support, which both demands and creates more information. Electronic technology and information are mutually reinforcing phenomena, and one of the key aspects of living in the information society is the growing level of interactions we have with this complex and increasingly electronic environment. The general consequence is that we deal with large volumes of information, new forms and aggregations of information, and new tools for working with information. These new tools we use to manage information at corporate, governmental and societal level are tools we must learn to use, pay for, and maintain. The primary tool of the information society is the computer. Microprocessors are used to improve the performance of other technologies, and computers are increasingly used to control and integrate other kinds of information technology (e.g. TV, radio, telephones).
The primary purpose of business is the supply of goods and services to satisfy the societal needs. Wherever people live in conurbations, there is always the need for goods and services. These goods and services are supplied by institutions such as the family, the voluntary organization, the business firms, local, state and federal government. Also, the importance of credit facilities from both the bank and non-bank financial institutions cannot be overemphasized in enhancing the development of SMEs in the country. However, only the effect of initial capital (CAP) and non bank credit facilities (NBK) is significant and responsive towards the enhancement of performance of SMEs while credit facilities from banks are insignificant with respect to SMEs development. Lastly it concluded that government agencies such as the National Directorate of Employment should intensify efforts geared towards training programmes for SMEs.
Practical Lessions of the Merger Horizontal Success Creating Common Positive Value From Culture Of Corporate (Published)
The development history of Mergers and Acquisitions (M & A) a worldwide since 1895 has recorded many success stories. The perfect of M & A strategy helps companies achieve their business/development goals. However, besides the success, there are still M & A deals failing. According to a study by J.P. Morgan failure rates in the deal up to 40%. P. Gibbs,“European mergers of equals have ideal fundamentals to create value, yet Some disappoint”, Internal Analysis J.P. Morgan, 10. July 1998. Mergers and acquisitions (M & A) are transactions in which the ownership of companies, other business organizations or their operating units are transferred or combined. As an aspect of strategic management, M & A can allow enterprises to grow, shrink, and change the nature of their business or competitive position.
Traditionally, commercial banks lend money to large, credit-worthy corporations and avoid doing business with small and medium enterprises due to the associated risks and costs. These small and medium enterprises depend on microfinance banks to obtain loans for their businesses, but for some reasons, some of these businesses do not approach microfinance banks for loans. This research investigates reasons why some businesses do not apply for loans from microfinance banks even though they need funds for the efficient running of their business. Results show that lack of collateral, ignorance of businesses about the existence of microfinance banks, and high interest rates are the main reasons that are hindering businesses in applying for loans from microfinance banks. Microfinance banks need to reach out to economically active poor businesses that cannot obtain loans from commercial banks or other financial institution.
Techniques for Re-Positioning Small and Medium Scale Business Enterprises in Nigeria for Economy Revitalization (Published)
This paper highlighted techniques for re-positioning small and medium scale business enterprises in Nigeria for economy revitalization. Small and medium business enterprises are the engine of growth and development of a nation. SMEs contribute to industrial development; promote growth, technological acquisition and reduction of unemployment. The paper also highlights techniques for re-positioning Small and Medium Scale business enterprises in Nigeria for economy revitalization. Financial problems, inadequate basic infrastructure, socio-cultural problems, planning problems, location/economic problems, poor accounting system: multiple taxation and unstable policy environment are the major problems militating against the success of SMEs. It was recommended among others that there should be a practical effort in encouraging SMEs to access long-term, low rate funds from the capital market. Incentives should be given in the form of tax holidays and awards to SMEs that excel in using the capital market as an avenue of external funding and the government should continue to make SMEs a central focus of industrial policy in order to achieve economic growth and development. The monetary and fiscal policies should be made to incorporate good framework that would enhance the activities of SMEs towards development and sustenance.