EFFECT OF ECONOMIC DEPRESSION ON GROWTH OF SMALL AND MEDIUM SCALE ENTERPRISES: A STUDY OF AWKA SOUTH LOCAL GOVERNMENT AREA, ANAMBRA STATE, NIGERIA

Penulis

  • Obiageli Gloria Akamobi Department of Economics, Chukwuemeka Odumegwu Ojukwu University (COOU), Anambra State, Nigeria
  • Chioma Peace Ezudike Department of Commerce Cooperative, School of Business Education, Federal College of Education (Technical), FCET, Umunze, Anambra State, Nigeria

DOI:

https://doi.org/10.46827/ejhrms.v5i2.1042

Kata Kunci:

economic depression, SMEs, entrepreneurs, economic growth

Abstrak

This research work studied the effect of economic depression on the growth of small and medium scale enterprises (SMEs) in Awka South Local Government Area, Anambra State and their contribution to economic growth. This research focuses on the extent to which economic hardship affects the operations and activities of SMEs in Awka South. The study was conducted in Awka South Local Government Area, Anambra State. Data for the study were collected from a representative sample of one hundred (100) SMEs entrepreneurs in the area. A systematic sampling technique would be used to select the respondents. The result of the analyses showed that economic depression impairs the growth of SMEs in Awka South Local Government Area, Anambra State. There should be adequate provision of infrastructures, government should give special consideration to SMEs by patronizing SMEs output, government should attract international financial institutions towards the growth and development of small scale industries in Awka South and Nigeria at large etc.

 

JEL: L20; L23; L53

 

Biografi Penulis

  • Obiageli Gloria Akamobi, Department of Economics, Chukwuemeka Odumegwu Ojukwu University (COOU), Anambra State, Nigeria
    Akamobi Obiageli Gloria is a lecturer in the Department of Economics, Faculty of Social Sciences, Faculty of Social Sciences, Chukwuemeka Oduemegwu Ojukwu University (COOU) (formally Anambra State University), Anambra State, Nigeria. She hails from Ihiala in Anambra State, Nigeria. She obtained her B.Sc in Anambra State University in 2006, M.Sc in Imo State University in 2016, and currently doing her PhD Michael Okpara University of Agriculture Umudike, Abia State with specialization in Quantitative Economics.
  • Chioma Peace Ezudike, Department of Commerce Cooperative, School of Business Education, Federal College of Education (Technical), FCET, Umunze, Anambra State, Nigeria
    Ezudike Chioma Peace is a lecturer in the Department of Commerce Cooperative, School of Business Education, Federal College of Education (Technical), FCET, Umunze, Anambra State, Nigeria. She holds B.Sc ED (Economics Education) and M.Sc Economics.

Referensi

Ajakaiye, O. & Fakiyesi, T. (2009). Global financial crisis. Overseas Development Institute (ODI) Discussion Series Paper, 8, 1-45.

Ansoff, H. I. (1979). Strategic management. Hong Kong: The Macmillan Press.

Anyanwu, C. M. (2003). The role of central bank of Nigeria in enterprises financing. Being A Paper at CBN Seminar on Small and Medium Industries Equity Investments. Lagos: August, 4, 20-32.

Ayozie, D. O. & Latinwo, H. K. (2010). Entrepreneurial developments and small scale industry contribution to Nigerian national development- A marketing interface. Information Management and Business Review, 1(2), 51-68.

Berle, A. A. & Means, G. C. (1932). The modern corporation and private property. New York: Macmillan.

Boorman, J. (2009). The impact of the financial crisis on emerging market economies: The transmission mechanism, policy response and lessons. Discussion draft of Global Meeting of the Emerging Markets Forum. Mumbai, India, June 23.

Ezeanyeji, C. I. Imoagwu, C. P. & Ifeako. M. (2019). Impact of recession on economic growth in Nigeria. International Journal of Economics, Commerce and Management, VII(4), 207- 221.

Goldman, S. L., Roger, N. N. & Kenneth, P. (1995). Agile competitors and virtual organizations: Strategies for enriching the customer. New York: Van Nostrand Reinhold.

Ikechukwu, D., Onyi, A. J. & Akamobi, O. G. (2018). Financial institutions and small & medium scale enterprises (SMEs) in Enugu State. Journal of Education & Entrepreneurship, 5(4), 12-24

Kasekende, L., Ndikumana, L. & Rajhi, T. (2009). Impact of the global financial and economic crisis on Africa. African Development Bank Working Papers Series, 96, 1-25.

Kayanula, D. & Quartey, P. (2000). The policy environment for promoting small and medium-sized enterprises in Ghana and Malawi. Finance and Development Research Programme Working Paper Series, No 15, May.

Milgrom, P. & Roberts, J. (1992). Economics, organization and management. Englewood Cliffs, NJ: Prentice–Hall.

Mitleton-Kelly, E. (2003). Ten principles of complexity and enabling infrastructures, in Mitleton-Kelly (ed.), Complex Systems and Evolutionary Perspectives on Organisations: The Application of Complexity Theory to Organizations, Elsevier.

Montuori A. (2003). The complexity of improvisation and the improvisation of complexity: Social science, art and creativity. Human Relations, 56 (2), 237-255.

Nweze, A. U. & Nnadi, C. F. (2020). Entrepreneurship as a mechanism for economic growth of depressed economy: An empirical assessment of south east Nigeria. EPRA International Journal of Research and Development (IJRD), 5(10), 81-95.

Ogujiuba, K. K., Ohuche, F. K. & Adenuga, A. O. (2004). Credit availability to small and medium scale enterprises in Nigeria: Importance of new capital base for banks – background and ISSUES. AIAE Working Paper, November.

Olorunshola J. A. (2003). Problems and prospects of small and medium-scale industries in Nigeria. Being A Paper at CBN Seminar on Small and Medium Industries Equity Investments. Lagos: August, 4, 34-49.

Stacey, R., Griffin, D. & Shaw, P. (2000). Complexity and management, FAD or radical Challenge TO Systems thinking? Routledge.

Tafamel, E. A. (2018). Economic recession: The small and medium scale enterprises (SMEs) experience in Nigeria. Annals of the University of Petroşani, Economics, 18(1), 249-260.

Toffler, A. (1980). The third wave. London: Pan Books.

Udechukwu, (2003). Survey of small and medium scale industries and their potentials in Nigeria. Being A Paper at CBN Seminar on Small and Medium Industries Equity Investments. Lagos: August, 4, 6 -18.

Unduhan

Diterbitkan

2021-04-18

Terbitan

Vol 5 No 2 (2021)

Bagian

Articles