IMPACT OF ENVIRONMENTAL FACTORS ON BUSINESS PERFORMANCE IN KWARA STATE, NIGERIA

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dc.contributor.authorOLOTA OLUWAYOMI OMOTAYO
dc.contributor.authorABDUL FALILAT AJOKE (Ph.D.)
dc.contributor.authorOLADIPO GANNIYU TAIWO
dc.date.accessioned2024-05-10T08:45:21Z
dc.date.available2024-05-10T08:45:21Z
dc.date.issued2017-06
dc.description.abstractIt has been argued that more than 70% of SMEs go into extinction within first five years of establishment. Despite their contribution to the economy, high mortality rate amongst them is great concern to all stakeholders. Therefore, the main purpose of this study was to determine the impact of environmental factors on the performance of SME. The population of this study was 2703 SMEs in Ilorin. The study adopted purposive sampling technique to select a sample size of 336. Data was analysed using both descriptive and inferential statistics. The hypothesis was tested using both regression and correlation. The result of the analysis reveal that: i) with the result of hypothesis one (R = 0.747, R2 = 0.558, (0.000) < 0.5). This implies that 55.8% variation in the dependent variable (Efficiency of SMEs) is caused by the independent variables (Employees' competencies). (ii) while hypotheses two result indicate R(325) = 0.125, p = 0.024 < 0.05. This revealed that a positive relationship exists between technological advances and innovativeness of SME, which is significant at p-value of 0.024. iii) and lastly for hypothesis three result (R = 0.855, R° = 0.732, (0.000) < 0.5). This implies that 73.2% variability of the dependent variable (Sustainability of SMEs) is accounted for by the independent variables (Economic factors). The study concluded that employees' competencies, technological advances and economic factors are key determinants of SME performance. It is therefore essential for SMEs to put their business environment into consideration in their strategic management planning in order to survive the complexity and dynamism of the environment.
dc.identifier.citation6. Olota O.O., Abdul F.A., Oladipo G.T., (2017); Impact of Environmental factors on Business Performance in Kwara State, Nigeria. Ilorin Journal of Management Sciences 4(1); 67-79. Available at http://ejounal.unilorin.edu.ng/journals/index.php/ijms
dc.identifier.issn2408-655X
dc.identifier.urihttps://uilspace.unilorin.edu.ng/handle/123456789/14020
dc.language.isoen
dc.publisherFaculty of Management Sciences, University of Ilorin,Ilorin,Nigeria.
dc.subjectenvironmental factor
dc.subjectPerformance
dc.subjectInnovativeness
dc.subjectsustainability
dc.subjectSME
dc.titleIMPACT OF ENVIRONMENTAL FACTORS ON BUSINESS PERFORMANCE IN KWARA STATE, NIGERIA
dc.typeArticle

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