SMALL AND MEDIUM SCALE ENTERPRISES AND EMPLOYMENT GENERATION FOR POVERTY REDUCTION IN NIGERIA: THE ROLE OF GOVERNMENT
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Date
2010-05-30
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ilorin journal of management and social sciences
Abstract
Recent insights now show that the term poverty, which traditionally was believed to mean lack of income, also refer to lack of access to good health =, education, security, and other social services. Efforts at providing solutions to malaise facing developing nations of the world by various governments are often faced with stiffed opposition, sometimes right from conception. This is largely because poverty is devoid of any universal definition and its focus and solutions have continued to change overtime. The aim of this study therefore, is to examine the role of government in influencing small and medium scale enterprises as a panacea for employment generation and poverty reduction in Nigeria. To achieve this objective, the step-wise logistics regression analysis- a form of Binomial Logistic Regression Analysis was used. The choice of this method of analysis was informed by the nature of the dependent variable (poverty), which is dichotomous. The study is of the opinion that using this poverty reduction strategy entails an increase in the average monthly income of the respondents. As a way out, the study suggests that government should, as a matter of urgency, provide the enabling environment as well as infrastructure such as roads, water, electricity etc. The study is ofv the view that these efforts will reduce the cost of doing business, increase retained earnings of the SMEs, average monthly income; create employment and reduce poverty on the long run.
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Keywords
SMEs,, employment generation, Poverty reduction