A Survey on Challenges Faced by Small and Medium Enterprises in Nigeria

Year:

2017

Research Type:

Quantitative

Method of Data Collection:

Online & Offline Survey

Participants:

SME Operators in Nigeria

Sample Size:

250

This survey is aimed at evaluating the challenges and difficulties hampering the growth and survival of Small and Medium Enterprise (SMEs) in Nigeria. A well-structured questionnaire with closed and opened ended questions to gather the responses of 250 randomly selected SMEs in Nigeria cutting across several industrial sectors.The result of the analysis reveals that 80% (representing 200 out of 250 respondents) of the SMEs in Nigeria are less than 10 years old. Access to finance/capital, multiple taxation and levies, and lack of infrastructure are the three most pressing challenges confronting Small and Medium Enterprises in Nigeria.

What this report contains / List of Figures

  • Figure 1: Gender distribution of SMESs operators in Nigeria.
  • Figure 2: Age distribution of SMESs operators.
  • Figure 3: Sectorial distribution of SMESs in Nigeria.
  • Figure 4: Number of years in existence.
  • Figure 5: Challenges faced by SMESs in Nigeria.
  • Figure 6: Awareness of Government and Micro Credit agencies support for SMESs.
  • Figure 7: Accessibility of SMESs operators to support from Government and Micro creditagencies.
  • Figure 8: Attitude of SMESs operators towards Management Budgeting and Record keeping.
  • Figure 9: Perception of Government Tax Policy by SMEs in Nigeria.
  • Figure 10: Competition strategies adopted by SMESs in Nigeria.
  • Figure 11: Number of skilled personnel and professionals
  • Figure 12: Financial strength to acquire professional service
  • Figure 13: Growth rate of SMESs Nigeria.
  • Figure 14: Measures to improve the performance of SMESs in Nigeria.
  • Table 1: Ranking of the challenges faced by Small and Medium enterprise operators in Nigeria