The paper begins with the theoretical analysis of the new economic norm, then analyses the changes on the financial report of SME enterprises in China under the new economic norm. And based on the analysis on the reasons of change on the financial report of SME enterprises in China under the new economic norm, it purposes the improvement of financial reporting in the current economic background of SEM enterprises. Finally, it summarizes the conclusion of this article.

The performance of the SME firm was viewed along the full proportions of financial, strategic and structural development. The socioeconomic function performed by SMEs is widely known in developing and emerging countries. But, in recent times, developing and developed nations have become more and more concerned about the level of financial literacy of the entrepreneur. This has emanated from peculiar to declining public and private to support systems and wide-ranging developments in the financial marketplace. Concern was also intensified by the challenging faced by the SME firm in financial context aided by the recognition that dearth of financial literacy has been one of the many elements responsible for lacks proper knowledge or information about financial decision making and that these decisions could, in turn, have tremendous unexpected consequences. Subsequently, financial literacy is now globally recognized as a major factor of economic and financial stability and development of SMEs for performance. A series of tangible trends underpin the growing worldwide interest in financial literacy as a major life skill, thus, this study set to review the influence of financial literacy on the performance of the SMEs from Nigeria's context. The study will serve as an information because that will promote and orient SMEs firm performance towards financial awareness, knowledge and perceive attitude. Also, the applied significant framework developed will assist SMEs firm owners and policy makers to identify the importance of financial literacy.

It is recorded that 99 per cent of the business bodies in Nigeria are MSMEs which has been an instrumental component in GDP and hub for work opportunities. Even so the identification of the important roles SMEs play in Nigeria, their evolution is mostly bounded by a number of elements, such as the existence of laws, ordinances, and rules that frustrate the growth of the sector. The study reviews the relationship between government policies and small and medium enterprises (SMEs) performance in Nigeria. The study offered some relevant recommendations to policy makers, entrepreneurs, and SME managers to ensure the appropriate scheme to improve the SME sector in Nigeria.

Small and medium enterprises (SME) performance forms a very important part of the Nigerian economy. The SME sector is a major engine which encourages the growth of jobs and wealth creation in the country's economic system. SMEs performance act as a significant part that is linked to the strengthening and enhancement of the development of the country.The SME performance and growth in manufacturing, agriculture, services, and so on, has been considered as the engine drive and has contributed to the Nigeria economy. Sustainable growth and the increase of SME performance, competitiveness will open numerous doors for employment opportunities, tangible and intangible assets (investment) in the environment.The SME sector has developed rapidly over these years. The major aim of this paper is to look into the SME sustainable competitive advantage and emphasis on its growing importance.Likewise, some guidelines were offered in order for SMEs to reach performance and competitive advantage. In a wider perspective, this paper would provide some available conclusions and concrete recommendations. Besides, this work will serve as an information cause that will promote and orient SMEs performance towards competitive advantage. Through this way, it will contribute to the continuous promotion and active growth of SMEs, as easily to increase the level of the firm's performance and business competitiveness in Nigeria.

The aim of this study is to examine the level of small and medium enterprises (SMEs) business owners–managers’ financial literacy and its impact on firm’s performance. The article applied a random sample and structural equation modelling (SEM) approaches in assessing the influence of SME business owners–managers’ level of financial literacy within the three states in the southwest Nigeria. The findings show the complete effect of business owner–manager’s financial knowledge, financial awareness and financial attitude in converting financial literacy to increase in firm performance. Also, they confirm that financial knowledge and awareness of SME business owners–managers are obviously not a prerequisite for the performance of SMEs, but entrepreneur characteristics in decision-making and relationship to financial attitude have a comparison with financial literacy. The research limitation evolves from cross section information observation that solely covers the southwestern part of the country. Additionally, inspired to meet the analysis gap is panel data analysis. Training courses through strategic orientation on the attitudinal perception of SME business owner–manager and basic business management skills, capacity-building aspect, leadership development as well as networking via relationship marketing and management on financial literacy may have significant effect on SMEs’ performance and growth for the managers in general in Nigeria. The article is one of the first to examine the level of financial literacy of SME business owners–managers in Nigeria. The article therefore sets an important benchmark for further research in this area.