SME firms performance in Nigeria: Competitive advantage and its impact

Abstract

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.

SME Managers and Financial Literacy; Does Financial Literacy Really Matter?

“…The inaccessibility of resources particularly financial resources is a main limitation to SME growth and development because it averts them from gaining the advanced technology that would lead them towards productivity and competitiveness (UNCTAD, 2002). Resources are anything that could be considered as strength or weakness to a given firm, consisting tangible assets for instance ( financial capital, physical capital) and intangible assets for instance, entrepreneurial knowledge, experience, financial skills, organizational process and goodwill (Eniola & Entebang, 2014). Current research in strategic business management and finance has ongoing to study the link between firm strategy and the capital structure (Eniola & Entebang 2014).…”

SME Firm Performance-Financial Innovation and Challenges

“…The importance of SMEs in the evolution of economic, reduction in poverty, increase in employment, output, innovation in technology and lifting up in social position and standard is globally proven and acknowledged in emerging as well as in developed economies. According to Eniola and Ektebang (2014) Small and Medium Scale Enterprises have been acknowledged to have a prodigious potential for sustainable Development. The surplus of the workforce employees from bigger firms was able to be reinstated back to the employment, mainly through the growth of SMEs.…”

Small and Medium Business Management-Financial Sources and Difficulties

“…The importance of SMEs in the evolution of economic, reduction in poverty, increase in value added, innovation, job creation, and boost in social position and standard is globally proven and acknowledged in emerging as well as in developed economies [1]. Accordingly, SMEs have been recognised to have a prodigious capacity for tenable development [2]. The surfeit of the employee's manpower from the larger corporation had the capacity be restored back to the employment, mainly through the growth of SMEs.…”