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. 10 NO. 4 2024
DOI: https://doi.org/10.56201/ijebm.v10.no4.2024.pg202.214

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Globalization and its Effects on the Performance of Small Scale Businesses in South East Nigeria

Nwankwo, Leopold Arinze (PhD), Otaokpukpu Justina Njideka,

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Abstract

The world economic activities are laced with globalization process and the driving force of this process is business, be it public or private; whether it is small, medium or large scale. This study examines the effect of globalization on the performance of small scale businesses in Nigeria with focus on small business owners in South East, Nigeria. Structured questionnaire is used to collect data from 180 respondents through simple random sampling method. Linear regression is used to analyze the data. The result reveals that globalization has positive and significant effect on performance of small businesses in South East Nigeria, that globalization has decisive influence on business performance. It was concluded that globalization is strong predictor of SMEs survival in Nigeria generally. Therefore, the study recommends that small scale businesses in Nigeria need to promote rapid innovation, new range of products and open up new economies and also government should provide enabling environment for entrepreneurs to triumph in a global competitive environment.

keywords:

Small scale business, globalization, performance, South East.

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References:

Aarti, D. (2014). Globalization: Impact on Indian Small and Medium Enterprises. The Business
and Management Review, 5 (3), 136-146.

Aina, T. (1996) Globalization and Social Policy in Africa. CODESERA Working Paper.No.6,
p.68.

Akande, O. O. (2011). Accounting Skill as a Performance Factor for Small Businesses in
Nigeria. Journal of Emerging Trends in Economics and Management Sciences. 2(5), 372-
378

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