Financial Gap and Sustainable Government Financial Interventions to Small and Medium Scale Enterprises in Nigeria: Developing a Sustainable Framework (Published)
Citation: J. F. Adegoke , N.N. Nwankpa, L. A. Bakare, S. A. Tijani, and O. J. Zubair (2022) Financial Gap and Sustainable Government Financial Interventions to Small and Medium Scale Enterprises in Nigeria: Developing a Sustainable Framework, International Journal of Business and Management Review, Vol.10, No.1, pp.25-43
Abstract: The Nigerian government, having considered the oil price volatility and the need to address its high reliance of its budget on oil, by diversifying the economy, has embarked on a series of programmes and reforms to boost non-oil sector of the economy, most importantly, the SME subsector. Financing interventions of government would have ordinarily been a succor to change the narrative of ugly financial accessibility of SMEs, but, the level of accessibility and its relationship to SMEs have largely been understudied. Hence, this study seeks to examine the deficiencies in the government interventions to SMEs and present a workable financial intervention framework. Both primary and secondary data were used for this study. Primary data were gathered through the administration of questionnaires. Purposive sampling technique was adopted to select 100 registered SMEs in each of the six states of the Southwest Nigeria, while 100 unregistered SMEs were equally selected for inclusiveness totaling 700. The data were analyzed using both descriptive and inferential analytical methods with the aid of SPSS. The study has documented the deficiencies of the previous interventions to include poor design of the programme, favoritism in the disbursement of financing facilities, low level of awareness of the facilities, difficulty in the procedures for accessing government financing support. The study thus proposed a framework where the guarantee scheme is designed into result-based financing where the designated scheme will just give guarantee to the banks to provide loan without collateral and with reduced interest, and a first-time loan which will be jointly financed by the banks and the scheme.
Keywords: Finance, Small and Medium Sized Enterprises, Sustainability, debt structure, interventions
Total Quality Management in Libya Manufacturing SMEs Performance in Developing Country (Published)
The purpose of this paper is to explore the relevant issues in the relationship between Total Quality Management (TQM) and the performance of SMEs. This study focuses mainly on the application of TQM in the Libyan industrial sector. The population surveyed includes only fifty fife Libyan manufacturing companies. Objectives: To determine the dominance of TQM practices in small and medium manufacturing companies in Libya and their relation to financial performance. This paper also discusses the need to mediate the relationship between the performance of TQM and SMEs. The Concept Paper conducts a comprehensive review of relevant literature prior to the development of proposals for TQM practices and the performance of SMEs. Moreover, apart from the continuous improvement that was found to have a significant correlation with corporate solvency, there was no statistically significant relationship between other TQM areas and the financial performance of companies in terms of liquidity, solvency and profitability. The collected data were analyzed using user frequency and methods (descriptive statistics), t-test, correlation and step regression analysis (deductive statistics). These results go hand in hand with the fact that TQM rewards are very long-term which means that any investment in quality efforts may not necessarily lead to any positive improvement in financial performance at once. This study has resulted in an important insight that could be a development campaign Quality SME long-term strategy is ideal for improving productivity. Improvements: The comparison of the TQM adoption between companies in terms of time period gives insights into TQM impacts, if any, when carried out over the long term.
Keywords: Small and Medium Sized Enterprises, Total Quality Management, critical success factors., tqm implementation
Applying Business Process Reengineering to Small and Medium Scale Enterprises (SMES) in the Developing World (Published)
This research looks at processes in Small and Medium Enterprises (SME)s in the developing world and how Business Process Reengineering (BPR) can help them cut costs and also become more efficient. The researchers looked at a particular set of processes in a particular SME in the oil and gas industry in Nigeria. Principles of BPR that are applicable to SMEs were identified from previous literature on BPR. In deciding on a methodology for this research, guidelines from previous research publications on implementing BPR in SMEs were brought together to create a methodology for the study. This research will be of benefit to managers of SMEs in the Oil and Gas Industry trying to gain a competitive advantage in a challenging business environment.
Keywords: Business Process Reengineering, Information Technology, Oil and gas industry, Small and Medium Sized Enterprises
The Perception of Informational Barriers to the Internationalisation Of Both Micro-Small Sized And Medium-Sized Enterprises (Published)
This paper addresses informational barriers to the internationalisation of small and medium-sized enterprises. Analysing the survey conducted to the owners of 235 small and medium-sized enterprises in Turkey, we argue the informational barriers such as inability to contact potential overseas customers, identifying foreign business opportunities, lack of knowledge of external markets, and different foreign customer habits and attitudes are key barriers while language differences is not a key barrier. Moreover, the findings show that all these barriers are positively correlated with each other. The findings also point out that the perceptions of informational barriers faced by firms are negatively correlated with company size.
Keywords: Informational Barriers, Internationalisation Barriers, SME Internationalisation, Small and Medium Sized Enterprises