Acta Universitatis Danubius. Œconomica, Vol 15, No 7 (2019)

Abstract

Objective

The study examines the impact of entrepreneurship development on the growth of Micro Small and Medium Enterprises (MSMEs’) in Nigeria using a Lagos based MSME in the Information and Communication Technology industry, Befy Links Nigeria Limited.

Prior Work

The roles of Micro, Small and Medium Enterprises (MSMEs), as a catalyst for economic growth have been well documented in economics literature. The recent global economic crisis negatively affected productive activities and reduces business operations, investments and demand for goods and services. This forced many countries to look for alternative means of growth and development. One of these alternative approaches is the encouragement of micro, small and medium scale enterprises.

Approach

The study employed descriptive and Chi-square techniques for the analyses. Questionnaires were randomly administered to the workers and customers in the company.

Results

It was found that entrepreneurship development has significant impact on the growth of MSMEs and that training and re-training of existing and intending entrepreneurs is necessary to ensure sufficient impact of entrepreneurship development on the growth of MSMEs in Nigeria. 

Implications

Government and stakeholders in entrepreneurship development should support, promote and ensure that MSMEs are given necessary impetus to function efficiently. Entrepreneurs should also cultivate the right attitude that would engender partnerships and pooling of resources. The entrepreneurship programmes (EDPs), should not be left to the public sector and professionals in other sectors of the economy should utilize the potentials in these programmes.

Value

The unique contribution of the study is that it takes interest in information and technology sector.

Keywords: Investment; Industrial Growth; Economic Growth

JEL Classification: O4, L8, L260, 

Objective

The study examines the impact of entrepreneurship development on the growth of Micro Small and Medium Enterprises (MSMEs’) in Nigeria using a Lagos based MSME in the Information and Communication Technology industry, Befy Links Nigeria Limited.

Prior Work

The roles of Micro, Small and Medium Enterprises (MSMEs), as a catalyst for economic growth have been well documented in economics literature. The recent global economic crisis negatively affected productive activities and reduces business operations, investments and demand for goods and services. This forced many countries to look for alternative means of growth and development. One of these alternative approaches is the encouragement of micro, small and medium scale enterprises.

Approach

The study employed descriptive and Chi-square techniques for the analyses. Questionnaires were randomly administered to the workers and customers in the company.

Results

It was found that entrepreneurship development has significant impact on the growth of MSMEs and that training and re-training of existing and intending entrepreneurs is necessary to ensure sufficient impact of entrepreneurship development on the growth of MSMEs in Nigeria. 

Implications

Government and stakeholders in entrepreneurship development should support, promote and ensure that MSMEs are given necessary impetus to function efficiently. Entrepreneurs should also cultivate the right attitude that would engender partnerships and pooling of resources. The entrepreneurship programmes (EDPs), should not be left to the public sector and professionals in other sectors of the economy should utilize the potentials in these programmes.

Value

The unique contribution of the study is that it takes interest in information and technology sector.

Keywords: Investment; Industrial Growth; Economic Growth

JEL Classification: O4, L8, L260,