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

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.

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