Effects of Socio-Cultural Realities on the Nigerian Small and Medium Sized Enterprises (SMEs): Case of Small and Medium Sized Enterprises in Lagos State.
No Thumbnail Available
Canadian Center of Science and Education
Socio-cultural realities are importance components in the Nigerian business environment. There is a shortage of literature 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 characteristically informal. The objectives of this paper are in two-folds, namely (i) identify socio-cultural realities in the SME business 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 of this factor were further categorised into several level of constructs. Responses from ten (10) SME owners/representatives in the five (5) major districts of Lagos state identified the socio-cultural realities as key factors affecting their businesses. A further research is recommended to further establish whether these results reflect the general condition in other states of Nigeria.
Socio-cultural realities , Rreligion , Attitude , Small-medium enterprises
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).