¹Dr. Princewill, Adeyefa, ²Olayinka I. Emmanuel-Adeyefa

¹Directorate of Internal Audit, Rufus Giwa Polytechnic, Owo, Ondo State, Nigeria
²Doctoral Student, Department of Accounting, Adekunle Ajasin University, Akungba Akoko

DOI : https://doi.org/10.47191/ijsshr/v6-i12-76

Google Scholar Download Pdf
ABSTRACT

The research explores the influence of environmental factors on the performance of Small and Medium Scale Enterprises (SMEs) in Oda, Ondo State. Primary data were gathered through the administration of questionnaires to the selected SMEs. Analysis of the data was conducted utilizing Simple Percentage, Chi-Square (X2), and Regression Techniques. The findings of this study clearly show that political and social-cultural factors have significant impact on SMEs performance in Ondo state with the result of hypotheses shown that there were significant positive effect of political and socio-cultural factors through monetary and fiscal policies on the existence of small scale business in Ondo state as the situation was showed through t-statistic and p-value (P= 0.022<0.05) on coefficient value (t=2.098>2.00) and F-stat value 7.617= p(0.034) that showed the robustness of the model with significant differences on the impact of economic factor through government measurement and control from how it was before the inception of this government tenure in Ondo state. The research concludes that environmental factors significantly affect the performance of SMEs in Niger State. In light of these findings, it is recommended that owners and managers of SMEs strategically involve themselves in ongoing monitoring and environmental scanning. This involves a thorough analysis of strengths, weaknesses, opportunities, and threats to consistently assess the overall health and vulnerabilities of their businesses.

KEYWORDS:

Environment, Performance, Employees, SME

REFERENCES
1) Abdullahi, A.I, & Zainol, F. A. (2016). The impact of socio-cultural business environment on entrepreneurial intention: A conceptual approach. International Journal of Academic Research in Business and Social Sciences, 6(2), 80-94

2) Abomeh, O. S., & Peace, N. N. (2015). Effects of Training on Employees’ Productivity in Nigeria Insurance Industry. British Journal of Economics. Management & Trade, 7(3), 227-235.

3) Akhigbe, O J. (2013). Human Resource Planning: A Key Factor in Ensuring the Effectiveness and Efficiency of Organization. Journal of Emerging Trends in Economics and Management Sciences, 4(4), 388-396.

4) Adagba, D.T and Shakpande, C. (2017) Effect of Environmental Factors on Business Performance. Nigerian Journal of Management Sciences Vol. No.1

5) Adeyoriju, R. & Agbadudu, J.E. (2018) Influence of business environmental factors on micro, small and medium enterprise survival in Ondo city metropolis, Nigeria. International Journal of Economics, Commerce and Management.Vol. VI, Issue 7, July. http://ijecm.co.uk/ ISSN 2348 0386.

6) Aduga, A. O. (2013). Impact of external business environment performance of food and beverage industry in Nigeria. Journal of Arts and British of organizational Social Sciences, 6(2), 56-65.

7) Aldershot: Dartmounth Essie, W. (2012). Business Environment and Competitiveness in Nigeria considerations for Nigeria’s Vision 2020. International Research Journal of Finance and Economics, 97, 44-54.

8) Amin, M. R., & Islam, M. J. (2013). Organizational Effectiveness and Efficiency through Manpower Planning and Development: A Study on Selected Service and Manufacturing Organizations of Bangladesh. World Journal of Social Sciences, 3(5), 49-66.

9) Ayodeji, M. A. (2015). Entrepreneurial Development Barriers in a Developing Nation: A Case Study of the Nigerian Printing SMEs. (M.Sc. Thesis, Hamk University of Applied Sciences).

10) Carriage, A. S. (2014). Recruitment and Selection Practices in Manufacturing SMI in Japan: An Analysis of the link with Business Performance. Ruhuna Journal of Management and Finance, 1(1), 37-52.

11) Ekwoaba, J. O., Ikeije, U. U., & Ndubuisi, U. (2015). The Impact of Recruitment and Selection Criteria on Organizational Performance. Global Journal of Human Resource Management, 3(2), 22-33.

12) Eze B.U., Ojo O.J., Adedeji A.A and Nwaba E.K (2018) business environmental factors and Small And Medium Enterprises Survival In Oyo State, Nigeria. LASU Journal of Business Review, 5(1)

13) Halim. S. A., & Zcki, A. M. (2012). Manpower Model for Human Resource Planning Management. International Conference on Advanced Computer Science Applications and Technologies, 1-4.

14) Kebede, M. & Kimesh, G. (2015). The impact of environmental factors on the performance of micro & small-scale enterprises in East Gojjam Zone, Ethiopia. International Journal of Science and Research, 6(3), 1619-1629.

15) Obasan, K.A. (2014). The impact of business environment on the survival of small scale businesses in Nigeria. International Journal of Management and Business Research, 4(3), 165-170.

16) Obasan, K. A. (2014). The impact of business environment on the survival of small scale businesses in Nigeria. Int. J.Manag. Bus. Res., 4(3), 165-170.

17) Luper, I., & Kwanumi, M., (2012). An Assessment of risk management of small and medium scale enterprises in Nigeria, Research Journal of Finance and Accounting, 3(5), 151- 158.

18) Mbah, S.I. & Felix, N (2019) Environmental factors and entrepreneurial productivity of selected hospitality firms in delta state, Nigeria. Global Journal of Education,Humanities and Management Sciences (GOJEHMS);Vol.1 No.2, September, pg.112-124; ISSN(Print): 2705-2494; ISSN(Online):2705-2486

19) Mulugeta K. and Getaendale S. (2015). The Impact of Environmental Factors on the Performance of Micro & Small-Scale Enterprises in East Gojjam Zone, Ethiopia. International Journal of Science and Research (IJSR) ISSN (Online): 2319-7064.

20) Nwezi, H.N., Onwuka, E.M., & Onyesom, M. (2017). Entrepreneurship evolution and the growth of small scale businesses in Nigeria. Journal of Business and Economic Development, 2(3): 176-181.

21) Obiwuru, T., Okwu, A., Akpa, V., & Nwankwere, I., (2011). Effects of leadership style on organizational performance: A survey of selected (SSE) Lagos Nigeria, Australian Journal of Business and Management Research. 1(7): 100-111.

22) Olota O.O, Abdul, F.A, & Oladipo, G.T. (2018) Impact of Environmental Factors on Business Performance in Kwara State, Nigeria.

23) Orogbu, L., Onyeizugbe, C., U., & Chukwuma, E., (2017). Economic environment of small and medium scale enterprises: Implications on economic growth in Nigeria. British Journal of Economics, Management and Trade 19(4) 1-12 ISSN: 2456-9216.

24) Osotimehin K.O, Jegede C. A, Akinlabi B. H & Olajide O.T. (2012). An Evaluation of the Challenges and Prospects of Micro and Small Scale Enterprises Development in Nigeria, American International Journal of Contemporary Research, 2(4).

25) Ozigbo, N., C., (2014) Effects of selected socio-economic variables on the entrepreneurship performance in Nigeria economy: Business and Economics Journal. Pearce M (2007), Organizational Factor Analysis: 3rd ed. Mcken Publishers, New York, USA, 2007

26) Rosli, M. (2011).Determinants of small and medium enterprises performance in the Malaysian auto part industry, Africa Journal of Enterprises Management, 5(20), 8235-8241. Small and Medium Development Agency of Nigeria (2013).Accessed on September8, 2016. From: http://nigerianstat.gov.ng/pdfuploads/SMEDAN%202013_Selected%20Tables .pdf.

27) Tambari, J.C, Chioma, A, & Ononogbo, M.C. (2018) Implications of Environmental Factors on the Productivity of Selected Small and Medium Scale Enterprises in Rivers-State.Archives of Business Research, 6(3), 1-8.

28) Zhiri., D. D. (2017). Impact of microfinance services on performance of small and medium scale enterprises (SMEs) in Zaria Metropolis: International Journal of ScientificResearch in Social Sciences & Management Studies. ISSN 2579-1928 Vol 2 No 1

Volume 06 Issue 12 December 2023