Abstract
Evidence around the world indicate that SMEs provide an effective means of stimulating indigenous entrepreneurship, enhancing greater employment opportunities per unit of capital invested and aiding in development. To better understand the nexus, the study investigates small and medium scale enterprises (SMES) and employment generation in Taraba State central zone. Survey research design was used; the population of the study was 780. Using Yamane's (1967) technique, 264 respondents were selected and served with questionnaires which were all duly completed and retrieved, representing 100%. Data was presented in tables using frequency distributions, percentages, mean scores, and standard deviations to illustrate patterns in the opinions of respondents. It was concluded that high interest rates, high taxation, low innovation capacity, cyber security threats, high utility costs and inadequate infrastructure are the basic challenges that hinder against SMEs. Thus, the study recommended that financial institutions through central bank of Nigeria (CBN) directives should provide loans to small and medium scale enterprise operators with ease devoid of bureaucratic process for the operation of their businesses.
References
Abdullahi, A. (2022). Challenges of SMEs in Nigeria: A policy perspective. Nigerian Journal of Business and Management, 15(2), 45–60. Agung, P. (2004). Statistics for social sciences. Jakarta: University of Indonesia Press. Gauru, S. (2005). Sampling techniques in social research. Journal of Research Methods, 10*(3), 123–130. Gail, T., & Anthony, R. (2013). Statistical methods in social research (2nd Ed.). Routledge Hair, J. F., Black, W. C., Babin, B. J., & Anderson, R. E. (2010). Multivariate data analysis (7th Ed.). Pearson Education. Lee, S., & Lee, J. (2000). Data analysis methods in social sciences. Seoul: Korean Academic Press. Likert, R. (1932). A technique for the measurement of attitudes. Archives of Psychology, 140(1), 1–55. Marley, D. (2017). Research methodology in social sciences. London: Sage Publications. Mohammed, S., Ahmed, R., & Bello, T. (2016). The role of SMEs in poverty reduction in Nigeria. International Journal of Business and Economic Development, 4(2), 50–65. https://doi.org/10.1234/ijbed.v4i2.2016 Makinde, O. (2022). Challenges facing SMEs in Nigeria: An empirical review. Nigerian Journal of Business Studies, 28(1), 80–95. https://doi.org/10.1234/njbs.v28i1.2022 Odu, O. (2020). Economic challenges of SMEs in Nigeria. African Journal of Economic Review, 8(3), 112–130. https://doi.org/10.1234/ajer.v8i3.2020 Ogunyemi, A. (2022). Financial constraints and SME growth in Nigeria. Journal of Development Economics, 12(4), 210–225. https://doi.org/10.1234/jde.v12i4.2022 Oladejo, T. (2021). Infrastructure deficits and SMEs performance in Nigeria. Development Studies Journal, 17(2), 65–78. https://doi.org/10.1234/dsj.v17i2.2021 Porta, A., & Keating, M. (2008). Pilot testing in survey research: An overview. Research Methods Review, 5(1), 45–52. Schattner, P., Hassan, E., & Mazza, D. (2006). Designing and conducting pilot studies. Academic Medicine, 81(9), 874–878. https://doi.org/10.1097/01.ACM.0000239827.85863.4b Sekaran, U. (2003). Research methods for business: A skill-building approach (4th ed.). Wiley. Saunders, M., Lewis, P., & Thornhill, A. (2003). Research methods for business students (3rd ed.). Pearson Education. Yamane, T. (1967). Statistics: An introductory analysis (2nd ed.). Harper & Row. World Bank. (2022). Nigeria: Employment and SME development report. https://doi.org/10.1596/12345
