The Impact of Socio-Demographic Factors on Performance of Small and Medium Enterprises in Lagos State, Nigeria

  • F. O. AKINYEMI Institute for Entrepreneurship and Development Studies Obafemi Awolowo University, Ile-Ife
  • A. A. ALARAPE Institute for Entrepreneurship and Development Studies Obafemi Awolowo University, Ile-Ife
  • T. P. ERINFOLAMI Department of Demography and Social Statistics, Faculty of Social Sciences, Obafemi Awolowo University, Ile-Ife

Abstract

This study addressed the dearth of information on the salient resources needed for the growth and development of Small and Medium Scale Enterprises (SMEs) in Nigeria. The study established the productive prospects of SMEs in the study area, and identified the impact of some salient socioeconomic factors on the development and expansion of Small and Medium-Scale Enterprises in Nigeria. The study was conducted in Lagos, Nigeria's commercial hub. Primary data were used and respondents were randomly selected. 500 structured questionnaires were administered to owners of small and medium scale enterprises in Lagos Metropolis. Descriptive and inferential were carried out with STATA, version 13.The results showed that age, gender, number of years in business, and involvement in mentorship activities influence the performance and productivity of small and medium scale enterprises in Nigeria. The results also showed that female business owners with tertiary education had high business performance than their counterparts with less than tertiary education. The paper suggests the need to promote the development of individual socio-economic factors in order to enhance growth of small and medium scale enterprises in Nigeria.

Published
Apr 5, 2018
How to Cite
AKINYEMI, F. O.; ALARAPE, A. A.; ERINFOLAMI, T. P.. The Impact of Socio-Demographic Factors on Performance of Small and Medium Enterprises in Lagos State, Nigeria. Ife Research Publications in Geography, [S.l.], v. 15, n. 1, p. 107-115, apr. 2018. ISSN 2636-5243. Available at: <https://erp.oauife.edu.ng/index.php/irpg/article/view/129>. Date accessed: 21 july 2018.