Environmental Factors and Growth of Small and Medium Scale Enterprise in Enugu State, Nigeria
- Post by: airjournal
- May 10, 2021
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This study assesses the environmental factors and growth of small and medium scale enterprises in Enugu State. The specifics objective were to: Examine the impact of Government policies on the growth of small and medium scale enterprises in the Enugu state. and Evaluate the effectiveness of management strategy on the growth of small and medium scale enterprises. A Survey of randomly selected small and medium-scale businesses in the three most industrially Local Governments Enugu East, Enugu North, and Enugu South in Enugu State, of Nigeria, were selected for the study. A sample size was drawn from four different industries, such as fashion industry, bakery industry, fast-food industry, and water packaging industry. Secondary data was adopted from the selected small and medium-scale industries. The Data were analyzed using Linear Regression Analysis. Pearson Correlation analysis was used as the main statistical tool of analysis. It was supported by descriptive statistics. Pearson Correlation was then used to test the two null hypotheses formulated for the study. linear regression analysis was used to compare the results obtained from the correlation analysis. The results reveal that favorable government policies have significantly positive effect on the growth of the small and medium-scale enterprise. This is verted on obtained value of 0.848 while the sig-value is 0.001. The result corroborated with the result of the R2 (0.733) and the Adject R2 (0.656) that measure the goodness of the model fitness. while effective management strategy is significantly positive on the growth of the small and medium-scale enterprise and it has a strong significantly positive effect on the growth. The result also corroborated with the result of the R2 (0.733) and the Adject R2 (0.656) that measure the goodness of the model fitness. the regression coefficient of effective management strategy is positive at 0.236 while the significant value is 0.578. This implies that favorable government policies and effective management strategy contribute to the growth of the small and medium-scale enterprise in Enugu state, Southeast, Nigeria.
Keywords: Environmental Factors; Growth; Small; Medium Scale Enterprise; Enugu State, Nigeria.
Nnamani, Emeka O. PhD1; Onyia, Samuel Onovo2; Nnamani, S. O., PhD3