Challenges of Small and Medium Enterprises: A Case Study of Lagos State, Nigeria

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In Issues in Development, Bandara, H. M. (ed.)


Small and Medium ~cale Enterprises (SMEs) contribute to ecohomic development in various ways by creating employment for rural and, urban growing labour force and by providing desirablesustainabtluy . and innovation in the economy as a. whole .. In spite of an array of. measures put in place to facilitate its growth, numerous problems. have continued to hinder the optimal performance of the SMEs in developing countries. This study therefore examined some challenges ofSMEs in Lagos State in Nigeria. The respondents were entrepreneur, selected from some notable principal business locations in the study: area (Lagos State) through stratified sampling technique. Simple percentage method was adopted in analyzing the data obtained The findings indicate that contribution ignorance, inability to adequate, capital, lack of requisite know/edge, fear of loss of control are some of challenges of SMEs in the study areas. introduction of loanfacili . and making technology available and affordable; tax rebatefor SM&; that put effort on local sourcing of raw materials,' and provision " effective marketing and distribution channels for SMEs products a . s01r!eof the policy considerations to uplift the sector.



SMEs, Employment, Development, Rural, Urban, Nigeria