EMPIRICAL STUDY OF INFRASTRUCTURE SUPPORT AND SMALL BUSINESS GROWTH IN OGUN STATE, NIGERIA
Authors:
ODUYOYE Oluseyi
Publication Type: Journal article
Journal:
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0
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Abstract
Against a background of dwindling fortunes of small and medium scale businesses all over Nigeria, the study has a main objective of evaluating the infrastructure support activities of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) in her bid to ensure the growth of cooperativefinanced small and medium scale enterprises in Ogun State, Nigeria between 2005 and 2010.. The study, designed as a survey, utilized a two-pronged approach in sourcing primary data through the use of questionnaires. Out of the 140 questionnaires administered, 135 were returned representing 96.4% response rate. 27 respondents were officials of Ogun State Cooperative Federation Limited (OGSCOFED), while the remaining 108 were cooperative members who are owners of small businesses in the State. With a Cronbach α coefficient of 0.902, the internal consistency and reliability of the questionnaire was confirmed while the data were analyzed using inferential and descriptive statistics such as simple percentages, rating indices and the Students t distribution. The study revealed that the provision of Infrastructure Support by the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) was not significant to the growth of some selected businesses (especially cooperative-financed small businesses) in Ogun State, Nigeria, within the study period of 2005 – 2010. Among the study’s recommendations are that SMEDAN should make information on local technologies, machinery and prototypes available to small businesses. Additionally, product standards/specifications as well as information on international markets should be made available to cooperative societies; hopefully, these measures would enhance their role as part-financiers and active partners in the growth of small businesses within the study area.