Factors influencing development of small construction companies in Abia and Akwa Ibom states, Nigeria
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Date
2014-01
Authors
Asuquo, C.F.
Ogbu, C.P
Akinsiku, O.E.
Journal Title
Journal ISSN
Volume Title
Publisher
INTERNATIONAL COUNCIL FOR RESEARCH AND INNOVATION IN BUILDING AND CONSTRUCTION
Abstract
The economic significance of small construction companies (SCCs) has been globally recognized, especially in developing economies. This study was carried out in Abia and Akwa Ibom States. Its objective was to identify and evaluate factors affecting the growth and development of SCCs in the research area. SCCs in Nigeria often experience stunted growth and show high mortality. Sixty Five (65) SCCs were randomly selected and administered with questionnaires. Data obtained were analyzed using descriptive statistics, and binary logistic regression. The study reveals that majority of CEOs of SCCs are first degree (n=31, 47.69%) and higher national diploma (n=24, 36.62%) holders. Key findings are that there are significant relationships between SCC growth and development and the entrepreneurial/managerial competence of the SCC leadership (p =0.007), financial problems (p= 0.028), work availability problems (p =0.027) and equipment problems (0.034). By implication, addressing these problems will lead to a virile SCC subsector in the Nigerian construction industry. On the bases of the key findings of this study, adequate entrepreneurship training of construction professionals is recommended to the government and other stakeholders in the affected states. It is also advocated that professional and educational institutions should work together to improve the construction management competence of SCCs.
Description
Staff publications
Keywords
Contractor , Construction , Development , Nigeria , Small construction companies , Research Subject Categories::FORESTRY, AGRICULTURAL SCIENCES and LANDSCAPE PLANNING
Citation
Asuquo, C.F., Ogbu, E., & Akinsiku, O. E. (2014). Factors influencing development of small construction companies in Abia and Akwa Ibom states, Nigeria. Proceedings of the International Council for Research and Innovation in Building and Construction, 28-30 January 2014 Lagos, Nigeria, pp. 286-294.