IIARD International Institute of Academic Research and Development

IIARD International Journal of Economics and Business Management (IJEBM )

E-ISSN 2489-0065
P-ISSN 2695-186X
VOL. 2 NO. 4 2016

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Globalization and Small and Medium Enterprises Development in Nigeria: Evidence From Lagos, Nigeria

Oyedele, Oloruntoba (PhD), Kareem, Thompson .S, Akanbi, Felicia .K (PhD)

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Abstract

This study examines the impact of globalization on small and medium enterprises development in Nigeria. The study sample was made up of 110 SMEs register with Manufacturing Association of Nigeria in Lagos State, Nigeria. Structured questionnaire designed by the researchers was used to collect data from the participants through simple random sampling method. Data was analysed by Ordinary Least Square with aid of STATA version 12. Result of analysis reveals that globalization (? = 0.380, t = 7.420, p = 0.003) has positive and significant effect on employment generation. The result further indicates that globalization has 33.64% decisive influence on employment generation. This implies that globalization is a strong predictor of employment generation. Result also reveals that globalization (? = 0.490, t = 6.202, p = 0.000) is positively and significantly related with poverty alleviation. Study further reveals that globalization contributes 40.96% to poverty alleviation. The study concludes that globalization has boosted the performance of SMEs in Nigeria positively. It is therefore recommends that government should provide enabling environment for entrepreneurs to triumph in a global competitive environment. Also, entrepreneurs should be educated on importance of globalization which promotes the rapid innovation, new range of products and open up new economies. More importantly, Nigerians should be encouraged to patronize locally made products and services.

keywords:

Globalization, SMEs, Employment Generation, Poverty Alleviation

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