Abstract
This study is the contribution of small and medium-scale enterprises to the growth of Nigeria’s economy. Specifically, the study examines the effect of SMEs’ job creation and evaluates the effect of SMEs’ employment on Nigeria’s gross domestic product. A descriptive survey research design was adopted for this study. The key instrument applied for this study was a questionnaire. The questionnaire was rated using five-point Likert’s scale point response options. Taro-Yamane’s formula was used to determine the sample size. Data collected for the study were analyzed by the scholar using frequency counts and mean scores. The two hypotheses were tested using Z-test. The result revealed that entrepreneurial activities create employment for the people with an estimated value (7.9>1.98) and at the same time, Entrepreneurial activities have significantly reduced unemployment by an estimated value (5.69>1.98) in South East Nigeria. We conclude that entrepreneurial activities create employment opportunities for the people of South East Nigeria. We recommence that the government needs to create an investor-friendly environment to encompass stable macroeconomic policies. Also, there is a need to ensure that those with innovative ideas are provided with the financial support to translate such ideas into reality.
Keywords
Nigeria’s Economy, Growth
Full Text
This study is the contribution of small and medium-scale enterprises to the growth of Nigeria’s economy. Specifically, the study examines the effect of SMEs’ job creation and evaluates the effect of SMEs’ employment on Nigeria’s gross domestic product. A descriptive survey research design was adopted for this study. The key instrument applied for this study was a questionnaire. The questionnaire was rated using five-point Likert’s scale point response options. Taro-Yamane’s formula was used to determine the sample size. Data collected for the study were analyzed by the scholar using frequency counts and mean scores. The two hypotheses were tested using Z-test. The result revealed that entrepreneurial activities create employment for the people with an estimated value (7.9>1.98) and at the same time, Entrepreneurial activities have significantly reduced unemployment by an estimated value (5.69>1.98) in South East Nigeria. We conclude that entrepreneurial activities create employment opportunities for the people of South East Nigeria. We recommence that the government needs to create an investor-friendly environment to encompass stable macroeconomic policies. Also, there is a need to ensure that those with innovative ideas are provided with the financial support to translate such ideas into reality.