SMES, BUSINESS RISKS AND SUSTAINABILITY IN NIGERIA
Journal Title: European Journal of Business and Social Sciences - Year 2013, Vol 2, Issue 9
Abstract
Small and Medium Scale Enterprises (SMEs) are critical to the Economic Growth and Development of Nigeria. However, this can only be possible in a risk free operating environment. This study examines the relationship between business risks and the sustainability of SMEs in Nigeria. SMEs face a number of risks that requires objective and conscious risk management efforts. Primary data were generated from fifty (50) SMEs in Lagos State. Data analysis and hypotheses testing were done with the use of Chi-square and descriptive statistics. The result revealed that standard risk management strategy by SMEs will result to their sustainability. It was recommended that entrepreneurs should consider risk management as an integral part of business management. Also, regulators should insist on minimum corporate governance standards for SMEs
Authors and Affiliations
Tajudeen Olalekan Yusuf PhD| Department of Actuarial Science & Insurance, Faculty of Business Administration University of Lagos (toyusuf7@yahoo.com) +2347042454596, Francis Sewhenu Dansu| (Corresponding Author) Department of Accounting & Finance (Insurance Unit), Faculty of Management Sciences Lagos State University (masenohvi_1@yahoo.com) +2348029506678
Keywords
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