Influence of Entrepreneurship Practices on Small and Medium Enterprises Development (A Case Study of Selected SMEs in Lagos)
Akeem Olanrewaju Ajani1, Oluyemi Adekanmbi2, Popoola Mufutau Akanmu3
1Akeem Olanrewaju Ajani, Doctoral Student, Kwara State University, Malete, Nigeria.
2Oluyemi Adekanmbi, Doctoral Student, Kwara State University, Malete, Nigeria.
3Popoola Mufutau Akanmu, Doctoral Student, Kwara State University, Malete, Nigeria.
Manuscript received on July 11, 2017. | Revised Manuscript received on July 29, 2017. | Manuscript published on August 15, 2017. | PP: 13-16 | Volume-2 Issue-12, August 2017. | Retrieval Number: L01610821217
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Abstract: The study examined “the influence of entrepreneurship practice on small and medium enterprises development, a case study of selected SMEs in Lagos. The study reviewed the contribution and performance of SMEs to the economic development of a nation that also depends on various entrepreneurship practices. Both primary and secondary data collection techniques were employed and Chi-Square method was used to analysis the data. The findings showed that, despite the enormous resources that are abound in the country; the SMEs sector has not played the significant role in Nigeria economy. It is recommended that government should as a matter of urgency assist prospective entrepreneurs to have access to finance and necessary information relating to their business opportunities, modern technology, raw material, market, plant and machinery which would enable them to reduce their operating cost and be more efficient to meet the market competition.
Keywords: Entrepreneurship practice, SMEs, Development, and Performance.