Effects of Socio-Cultural Realities on the Nigerian Small and Medium Sized Enterprises (SMEs): Case of Small and Medium Sized Enterprises in Lagos State

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Date
2014
Authors
Johnson, F.O
George, O
Owoyemi, O
Adegboye, M
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Volume Title
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Abstract
Socio-cultural realities are importance components in the Nigerian business environment. There is a shortage ofliterature and studies that linked socio-cultural realities to business development and performance.Small-Medium Enterprises (SMEs) constitutes over 70 per cent of the Nigerian businesses and characteristicallyinformal. The objectives of this paper are in two-folds, namely (i) identify socio-cultural realities in the SMEbusiness environment in Nigeria and; (ii) examine the impact of these factors (in i) on the development of SMEs.Socio-cultural realities were measured from three major factors, namely attitude; religion and values: each ofthis factor were further categorised into several level of constructs. Responses from ten (10) SMEowners/representatives in the five (5) major districts of Lagos state identified the socio-cultural realities as keyfactors affecting their businesses. A further research is recommended to further establish whether these resultsreflect the general condition in other states of Nigeria.
Description
Staff publication
Keywords
Vvalues , Small-medium enterprises , Culture , Attitude
Citation
Johnson, F.O; George, O; Owoyemi, O; Adegboye, M (2014), Effects of Socio-Cultural Realities on the Nigerian Small and Medium Sized Enterprises (SMEs): Case of Small and Medium Sized Enterprises in Lagos State. International Journal of Business and Management, vol.9 (1).