The Mediating Impact of SMEDAN Initiative on the Relationship Between CSFs and SMEs' Success: A Conceptual Paper

Babandi Ibrahim Gumel; Barjoyal Bin Bardai

doi:doi:10.11648/j.ijber.20211002.12

| Peer-Reviewed

The Mediating Impact of SMEDAN Initiative on the Relationship Between CSFs and SMEs' Success: A Conceptual Paper

Babandi Ibrahim Gumel, Barjoyal Bin Bardai

Published in International Journal of Business and Economics Research (Volume 10, Issue 2)

Received: 26 February 2021 Accepted: 11 March 2021 Published: 17 March 2021

Views: Downloads:

Download PDF

Share This Article

Twitter
Linked In
Facebook

Abstract

Nigeria's federal government, after the oil boom of the 1970s, created policies, including the SMEDAN initiative, to trigger socio-economic development through entrepreneurship and small business development. Notwithstanding the importance of SMEs' socio-economic development and the Nigerian government's effort to support entrepreneurship and SMEs development, SMEs fail within the first five years. There is not enough information that can be used by SME owners/managers to develop best business practice policies to mitigate SMEs' failure and trigger socio-economic development. Critical success factor (CSFs) provides information that can be used to develop the best business practice to mitigate SMEs failure. Researchers stated that for owners/managers of SMEs to use CSFs models, they must replicate studies in new geographical areas or new industries. There is no CSFs model for the Nigerian location. The purpose is to position a CSFs model that can be used as information by owners/managers of SMEs to develop the best business policies to mitigate SME failures in Nigeria. This paper presents a thesis concepts where the researcher used a mixed research approach to position a CSFs model that can provide the information that can be used by owners/managers to mitigate SMEs failure and trigger socio-economic development. Mitigating SMEs' failure in Nigeria will reduce unemployment and poverty, which might trigger socio-economic development as envisaged by the federal government. This conceptual paper revealed the findings of the pilot study for the thesis were it was revealed that five variables impact SMEs' success in Jigawa State, Nigeria.

Published in	International Journal of Business and Economics Research (Volume 10, Issue 2)
DOI	10.11648/j.ijber.20211002.12
Page(s)	66-75
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2024. Published by Science Publishing Group

Keywords

Small and Medium Enterprises, SMEDAN, Critical Success Factor (CSF), Socio-economic Development (SED), Entrepreneurial Factors, Enterprise Factors, Environmental Factor

References

[1]	Akinbola, O. A., Sanni, S. A., & Akinbola, O. S.. (2019). Entrepreneurship Support Agencies (ESA) and Development of Small and Medium Enterprises (SMEs) in Nigeria. Economic Studies & Analyses/Acta VSFS, 13 (1), 29 - 43.
[2]	Alfaadhel, S. (2010). An Empirical Study of Critical Success Factors for Small and Medium Enterprises in Saudi Arabia: Challenges and Opportunities, Ph.D. thesis. University of Bradford.
[3]	Alfoqahaa, S. (2018). Critical success factors of small and medium-sized enterprises in Palestine. Journal of Research in Marketing and Entrepreneurship, 16 (3), 182-203.
[4]	Al-Tit, A., Omri, A., & Euchi, J. (2019). Critical success factors of small and medium-sized enterprises in Saudi Arabia: Insights from sustainability perspective. Administrative Sciences, 9 (2), 32. doi: https://doi.org/10.3390/admsci9020032
[5]	Altman, E. (1983). Why businesses fail. Journal of Business Strategy (spring), 15-21.
[6]	Altman, E. I. (1984). The success of business failure prediction models: An international survey. Journal of Banking & Finance, 8 (2), 171-198.
[7]	Alves, J. (1978). The Prediction of Small Business Failure: Utilizing Financial and Nonfinancial Data, (dissertation). Massachusetts: University of Massachusetts.
[8]	Avcikurt, C., Altay, H., & Oguzhan Ilban, M.. (2011). Critical success factors for small hotel businesses in Turkey: an exploratory study. Cornell Hospitality Quarterly, 52 (2), 153-164.
[9]	Baidoun, S. D. (2018). Prediction model of business success or failure for Palestinian small enterprises in the West Bank. Journal of Entrepreneurship in Emerging Economies, 10 (1), 60-80.
[10]	Berezhnytska, U. (2019). Innovative Model of SME Development. In 2019, in the 7th International Conference on Modeling, Development and Strategic Management of Economic System (MDSMES 2019) (pp. 139-143). Atlantis Press.
[11]	Bowman, E. H., & Helfat, C. E. (2001). Does corporate strategy matter? Strategic Management Journal, 22, 1-23.
[12]	Bullen, C. V., & Rockart, J. F. (1981). A primer on critical success factors. Center for Information system research MIT, 1-75.
[13]	Buowari, P. E. (2015, November n. d.). Factors required for small business sustainability in Nigeria. Doctoral Study. Minneapolis, Minnesota, United States: Walden University.
[14]	Chawla, S. K., Khanna, D., & Chen, J. (2010). Are small business critical success factors the same in different countries? SIES Journal of Management, 7 (1), 1-12.
[15]	Chawla. D. & Sondhi, N. (2011). Research methodology concepts and cases. New Delhi: Vikas Publishing House PVT LTD.
[16]	Christian, M. K. (2015). Characteristics and Critical Success Factors Prioritization of MSMEs in African Agribusiness: A Case of DR. Congo. International Journal of Management Science and Business Administration, 1 (6), 33-43. doi: 10.18775/ijmsba.1849-5664-5419.2014.16.1003.
[17]	Cooper, A., Dunkelberg, W., Woo, C., & Dennis, W. (1990). New Business in America: The Firms and Their Owners. Washington DC: The NFIB Foundation.
[18]	Cooper, A., Gascon, J., & Woo, C. (1991). A Resource-Based Prediction of New Venture Survival and Growth. Proceedings Academy of Management (Summer), 113-119.
[19]	Dickinson, R. A., Ferguson, C. R., & Sircar, S.. (1984). Critical success factors and small business. American Journal of Small Business, 8 (3), 49-57.
[20]	Dobbs M. & Hamilton R. T.. (2007). Small business growth: recent evidence and new directions. International Journal of Entrepreneurial Behaviour and Research, 13 (5), 296-322.
[21]	Dosumu, O., Hussain, J., & El-Gohary, H. (2020). An exploratory study of the impact of government policies on the development of small and medium enterprises in developing countries. In The case of Nigeria. In Start-Ups and SMEs: Concepts, Methodologies, Tools, and Applications (pp. 1205-1218). IGI Global.
[22]	Dugguh, S. I. (2015). Critical issues in managing small and medium enterprises: The Nigerian experience. The International Journal of Business & Management, 39 (9), 52-59. doi: http://search.proquest.com
[23]	Eidleman, G. (1995). Z Scores—A Guide to Failure Prediction. The CPA Journal, 65 (2), 52-54.
[24]	El-Zayaty, A. (1986). Business Failure Prediction: An analysis of type II prediction errors (Dissertation). New York: City University.
[25]	Fan, Q. (2019). An Exploratory Study of Cross Border E-commerce (CBEC) in China: Opportunities and Challenges for Small to Medium Size Enterprises (SMEs). International Journal of E-Entrepreneurship and Innovation (IJEEI), 9 (1), 23-29.
[26]	Gyimah, P. M. (2019). Small Business Success or Failure Prediction: A Comparative Study in Ghana and Israel. Journal of Applied Business and Economics, 21 (3). doi: https://doi.org/10.33423/jabe.v21i3.2079
[27]	Gyimah, P., Appiah, K. O., & Lussier, R. N. (2010). Success versus failure prediction model for small businesses in Ghana. Journal of African Business, 21 (2), 215-234.
[28]	Hitt, M. A., Ireland, R. D., & Hoskisson, R. E. (2015). Strategic management competitiveness & globalization (11th ed). Stamford, CT, USA: Cengage learning.
[29]	Hoskisson, R. E., Hitt, M. A., Wan, W. P., & Yiu, D. (1999). Swings of a pendulum: Theory and research in strategic management. Journal of Management, 25, 417-456.
[30]	Hyder, S., & Lussier, R. N.. (2016). Why businesses succeed or fail: a study on small businesses in Pakistan. Journal of Entrepreneurship in Emerging Economies.
[31]	Jacobides, M. G., Winter, S. G., & Kassberger, S. M. (2012). The dynamics of wealth, profit, and sustainable advantage. Strategic Management Journal, 33, 1384-1410.
[32]	Kaigama, Y. M., Talib, N. A., & Ashari, H. (2016). Moderating effect of financial literacy in the relationship between microfinance banks and small business survival. Indian Journal of Innovations and Developments, 5, (12), 1-6.
[33]	Keats, B. W., & Bracker, J. S. (1988). Toward a theory of small firm performance: A conceptual model. American Journal of Small Business, 12, 41-58.
[34]	Kheng, L. L., & Muthuveloo, R. (2019). The Influence of Information Technology (IT) Knowledge on Organization Performance with Adaptability to Change as a Moderator among Small Medium Enterprises (SMEs) in Malaysia: A Conceptual Paper.
[35]	Kozak, S. (2017). The role and importance of the small business sector in the economic development of the Mazowieckie Province. Zeszyty Naukowe Uniwersytetu Przyrodniczo-Humanistycznego, seria Administracja i Zarządzanie, 41 (114), 61-70.
[36]	Kurochkina, A. A.., Voronkova, O. V., Lukina, O. V., & Bikezina, T. V. (2019). Management features of small and medium-sized business enterprises. Revista Espacios, 40 (34).
[37]	Lampadarios, E. (2015). Critical Success Factors (CSFs) for Small Medium Enterprises (SMEs): An Empirical Study in the UK Chemical Distribution Industry. Post-Doctoral thesis. Leeds Beckett University.
[38]	Lin, F., Marshall, A., & Wu, W. (2020). Historical Development of Chinese SMEs. In Entrepreneurial Innovation and Economic Development. In Dubai and Comparisons to Its Sister Cities (pp. 86-114). IGI Global.
[39]	Lipton, D., & Sachs, J. (1990). Privatization in Eastern Europe: The case of Poland. Brookings Paper on Economic Activity, 2, 293-333.
[40]	Lo, M. C., Wang, Y. C., Wah, C. R. J., & Ramayah, T. (2016). The critical success factors for organizational performance of SMEs in Malaysia: a partial least squares approach. Revista brasileira de gestão de negócios, 18 (61), 370-391.
[41]	Lussier & Corman, R. N. (1996). A business success versus failure prediction model for entrepreneurs with 0-10 employees. Journal of Small Business Strategy, 7 (1), 21-36.
[42]	Lussier & Halabi, R. N. (2010). A three-country comparison of business success versus failure prediction model. Journal of Small Business Management, 48 (3), 360-377. doi: 10.1111/j.1540-627X.2010.00298.x
[43]	Lussier, R. N. (1995). A nonfinancial business success versus failure prediction mo. Journal of Small Business Management, 33 (1), 8.
[44]	Lussier, R. N., & Pfeifer, S. (2001). A cross-national prediction model for business success. Journal of small business management, 39 (3), 228-239.
[45]	Marom & Lussier, S. R. (2014). A business success versus failure prediction model for small businesses in Israel. Business and Economic Research, 4 (2), 63-81. doi: http://dx.doi.org/10.5296/ber.v4i2.5997
[46]	McLarty, R. P. (2012). Factors influencing the performance of Small to Medium-Sized Enterprises: An empirical study in the Czech Republic. International Journal of Management, 29 (3), 36-47.
[47]	Merrick, C., & Howard, S. G. (2020). The Importance of Small Business and Entrepreneurship as Strategies to Alleviate Poverty. Social Innovations Journal, 2 (2020) 1-4.
[48]	Musawa, M. S., & Ahmad, K. (2019). A Conceptual Framework for the Influence of Entrepreneurial Orientation and Environmental Dynamism on Marketing Innovation Performance in SMEs. International Journal of Economics and Management Systems, 4, 187-203.
[49]	Naqvi, S. W. (2011). Critical success and failure factors of entrepreneurial organizations: Study of SMEs in Bahawalpur. Journal of Public Administration and Governance, 1 (2), 17-22.
[50]	Nwekeaku, C., & Ossai, O. (2019). Small and medium development agency (SMEDAN) and development of small-scale businesses in Nasarawa State. International Journal in Management and Social Science, 7 (8), 9-22.
[51]	Obaje, A. (2020). The impact of strategic planning on the performance of small and medium-sized businesses in Nigeria. Ph.D. Thesis. Cardiff Metropolitan University.
[52]	Ogechukwu, A. D. (2011). The role of small-scale industry in national development in Nigeria. Universal Journal of Management and Social Sciences, 1 (1), 23-41.
[53]	Peter, F. A. (2018). Government financial support and financial performance of SMEs. Academy of Strategic Management Journal, 17 (3), 1-10.
[54]	Rehman, N. U., Çela, A., Morina, F., & Gura, K. S. (2019). Barriers to growth of SMEs in Western Balkan countries. Journal of Management Development., 38 (1), 2-24. doi: https://doi.org/10.1108/JMD-09-2018-0273
[55]	Reynolds, P. (1987). New firms: Societal contribution versus potential. Journal of Business Venturing, 3, 231-246.
[56]	Reynolds, P., & Miller, B. (1989). New firm survival: Analysis of a panel's fourth year. In N. C. R. H. Brockhaus, Frontiers of Entrepreneurship Research. Wetzel. Wellesley Mass: Babson College.
[57]	Robertson, R. A. (2008). Critical success factors for service-oriented small businesses in the e-commerce environment. Journal of Information Systems Technology & Planning, 2 (1), 28-31.
[58]	Saad, S., Perera, T., Achanga, P., Shehab, E., Roy, R., & Nelder, G. (2006). Critical Success Factors for Lean Implementation within SMEs. The International Journal of Manufacturing Technology Management, 17 (4), 460-471.
[59]	Saari, D. (. (2020). Challenges Faced by SMEs When Accessing Loans from Financial Institutions in Nigeria. A Bachelor's Thesis. Helsinki: Helsinki Metropolia University of Applied Sciences.
[60]	SBA. (2017). Starting and Managing. Retrieved from U. S. Small Business Administration: https://www.sba.gov/
[61]	Schorch, M., Seifert, F., Syed, H. A., Kotthaus, C., & Pipek, V. (2020). Doing CSCW research in small and medium enterprises: experiences, options, and challenges. In Proceedings of 18th European Conference on Computer-Supported Cooperative Work. European Society for Socially Embedded Technologies (EUSSET).
[62]	Sheppard, J. (1994). Strategy and Bankruptcy: An Exploration into Organizational death. Journal of Management, 20, 795-829.
[63]	Smallbone, D., Welter, F., Voytovich, A. & Egorov, I.. (2010). Government and entrepreneurship in transition economies: the case of small firms in business services in Ukraine. Service Industries Journal, 30, (5) 655-670.
[64]	SMEDAN & NBS. (2017). SMEDAN and national bureau of statistics collaborative survey: Selected findings 2017. Abuja: SMEDAN and NBS, Nigeria.
[65]	SMEDAN, S. a. (2013). SMEDAN and national bureau of statistics collaborative survey: Selected findings 2013. Abuja: SMEDAN. Retrieved from Small and Medium Enterprises Development Agency of Nigeria: http://nigerianstat.gov.ng
[66]	Stancu, A., Filip, A., Roșca, M. I., Ioniță, D., Căplescu, R., Cânda, A., & Roșca, L. D. (2020). Value Creation Attributes—Clustering Strategic Options for Romanian SMEs. Sustainability, 12 (17), 7007.
[67]	Stanković, M., Mrdak, G., & Stojanović, S.. (2018). The importance of small and medium enterprises in modern economy. Knowledge International Journal, 28 (5), 1619-1624.
[68]	Statistics How To. (2020). Cronbach's Alpha: Simple Definition, Use, and Interpretation. Retrieved November 22, 2020, from Statistics How To: https://www.statisticshowto.com/cronbachs-alpha-spss/
[69]	Storey, D., Keasey, K., Watson, R., & Wynarczyk, P. (1987). Performance of small firms: Profits, jobs, and failure. London: Croom Helm.
[70]	Tobar-Pesántez, L., & Solano-Gallegos, S. (2018). The Importance of Small and Medium Enterprises in the City of Cuenca-Ecuador and Their Contribution to the Creation of Employment. Academy of Accounting and Financial Studies Journal, 22 (2), 1-17.
[71]	Van, H. T. T., & Ha, D. B. (2017). Small and Medium Enterprises in Vietnam. International Conference of the Korean International Trade Association, 148-161.
[72]	Yoshino, N., & Taghizadeh Hesary, F. (2016). Major challenges facing small and medium-sized enterprises in Asia and solutions for mitigating them. Asian Development Bank Institute Working Paper Series, 564 (April 2016). Retrieved from https://www.adb.org/sites/default/files/publication/182532/adbi-wp564.pdf

Cite This Article

Plain Text BibTeX RIS

APA Style

Babandi Ibrahim Gumel, Barjoyal Bin Bardai. (2021). The Mediating Impact of SMEDAN Initiative on the Relationship Between CSFs and SMEs' Success: A Conceptual Paper. International Journal of Business and Economics Research, 10(2), 66-75. https://doi.org/10.11648/j.ijber.20211002.12

Copy | Download

ACS Style

Babandi Ibrahim Gumel; Barjoyal Bin Bardai. The Mediating Impact of SMEDAN Initiative on the Relationship Between CSFs and SMEs' Success: A Conceptual Paper. Int. J. Bus. Econ. Res. 2021, 10(2), 66-75. doi: 10.11648/j.ijber.20211002.12

Copy | Download

AMA Style

Babandi Ibrahim Gumel, Barjoyal Bin Bardai. The Mediating Impact of SMEDAN Initiative on the Relationship Between CSFs and SMEs' Success: A Conceptual Paper. Int J Bus Econ Res. 2021;10(2):66-75. doi: 10.11648/j.ijber.20211002.12

Copy | Download

@article{10.11648/j.ijber.20211002.12,
  author = {Babandi Ibrahim Gumel and Barjoyal Bin Bardai},
  title = {The Mediating Impact of SMEDAN Initiative on the Relationship Between CSFs and SMEs' Success: A Conceptual Paper},
  journal = {International Journal of Business and Economics Research},
  volume = {10},
  number = {2},
  pages = {66-75},
  doi = {10.11648/j.ijber.20211002.12},
  url = {https://doi.org/10.11648/j.ijber.20211002.12},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijber.20211002.12},
  abstract = {Nigeria's federal government, after the oil boom of the 1970s, created policies, including the SMEDAN initiative, to trigger socio-economic development through entrepreneurship and small business development. Notwithstanding the importance of SMEs' socio-economic development and the Nigerian government's effort to support entrepreneurship and SMEs development, SMEs fail within the first five years. There is not enough information that can be used by SME owners/managers to develop best business practice policies to mitigate SMEs' failure and trigger socio-economic development. Critical success factor (CSFs) provides information that can be used to develop the best business practice to mitigate SMEs failure. Researchers stated that for owners/managers of SMEs to use CSFs models, they must replicate studies in new geographical areas or new industries. There is no CSFs model for the Nigerian location. The purpose is to position a CSFs model that can be used as information by owners/managers of SMEs to develop the best business policies to mitigate SME failures in Nigeria. This paper presents a thesis concepts where the researcher used a mixed research approach to position a CSFs model that can provide the information that can be used by owners/managers to mitigate SMEs failure and trigger socio-economic development. Mitigating SMEs' failure in Nigeria will reduce unemployment and poverty, which might trigger socio-economic development as envisaged by the federal government. This conceptual paper revealed the findings of the pilot study for the thesis were it was revealed that five variables impact SMEs' success in Jigawa State, Nigeria.},
 year = {2021}
}

Copy | Download

TY  - JOUR
T1  - The Mediating Impact of SMEDAN Initiative on the Relationship Between CSFs and SMEs' Success: A Conceptual Paper
AU  - Babandi Ibrahim Gumel
AU  - Barjoyal Bin Bardai
Y1  - 2021/03/17
PY  - 2021
N1  - https://doi.org/10.11648/j.ijber.20211002.12
DO  - 10.11648/j.ijber.20211002.12
T2  - International Journal of Business and Economics Research
JF  - International Journal of Business and Economics Research
JO  - International Journal of Business and Economics Research
SP  - 66
EP  - 75
PB  - Science Publishing Group
SN  - 2328-756X
UR  - https://doi.org/10.11648/j.ijber.20211002.12
AB  - Nigeria's federal government, after the oil boom of the 1970s, created policies, including the SMEDAN initiative, to trigger socio-economic development through entrepreneurship and small business development. Notwithstanding the importance of SMEs' socio-economic development and the Nigerian government's effort to support entrepreneurship and SMEs development, SMEs fail within the first five years. There is not enough information that can be used by SME owners/managers to develop best business practice policies to mitigate SMEs' failure and trigger socio-economic development. Critical success factor (CSFs) provides information that can be used to develop the best business practice to mitigate SMEs failure. Researchers stated that for owners/managers of SMEs to use CSFs models, they must replicate studies in new geographical areas or new industries. There is no CSFs model for the Nigerian location. The purpose is to position a CSFs model that can be used as information by owners/managers of SMEs to develop the best business policies to mitigate SME failures in Nigeria. This paper presents a thesis concepts where the researcher used a mixed research approach to position a CSFs model that can provide the information that can be used by owners/managers to mitigate SMEs failure and trigger socio-economic development. Mitigating SMEs' failure in Nigeria will reduce unemployment and poverty, which might trigger socio-economic development as envisaged by the federal government. This conceptual paper revealed the findings of the pilot study for the thesis were it was revealed that five variables impact SMEs' success in Jigawa State, Nigeria.
VL  - 10
IS  - 2
ER  -

Copy | Download

Author Information

Babandi Ibrahim Gumel

Department of Finance, Faculty of Business Administration, LIGS University, Honolulu, Hawaii, USA
Barjoyal Bin Bardai

Faculty of Finance and Administrative Sciences, Al-Madinah International University, Kuala Lumpur, Malaysia

Download PDF

Sections

Plain Text BibTeX RIS

APA Style

Babandi Ibrahim Gumel, Barjoyal Bin Bardai. (2021). The Mediating Impact of SMEDAN Initiative on the Relationship Between CSFs and SMEs' Success: A Conceptual Paper. International Journal of Business and Economics Research, 10(2), 66-75. https://doi.org/10.11648/j.ijber.20211002.12

Copy | Download

ACS Style

Babandi Ibrahim Gumel; Barjoyal Bin Bardai. The Mediating Impact of SMEDAN Initiative on the Relationship Between CSFs and SMEs' Success: A Conceptual Paper. Int. J. Bus. Econ. Res. 2021, 10(2), 66-75. doi: 10.11648/j.ijber.20211002.12

Copy | Download

AMA Style

Babandi Ibrahim Gumel, Barjoyal Bin Bardai. The Mediating Impact of SMEDAN Initiative on the Relationship Between CSFs and SMEs' Success: A Conceptual Paper. Int J Bus Econ Res. 2021;10(2):66-75. doi: 10.11648/j.ijber.20211002.12

Copy | Download

@article{10.11648/j.ijber.20211002.12,
  author = {Babandi Ibrahim Gumel and Barjoyal Bin Bardai},
  title = {The Mediating Impact of SMEDAN Initiative on the Relationship Between CSFs and SMEs' Success: A Conceptual Paper},
  journal = {International Journal of Business and Economics Research},
  volume = {10},
  number = {2},
  pages = {66-75},
  doi = {10.11648/j.ijber.20211002.12},
  url = {https://doi.org/10.11648/j.ijber.20211002.12},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijber.20211002.12},
  abstract = {Nigeria's federal government, after the oil boom of the 1970s, created policies, including the SMEDAN initiative, to trigger socio-economic development through entrepreneurship and small business development. Notwithstanding the importance of SMEs' socio-economic development and the Nigerian government's effort to support entrepreneurship and SMEs development, SMEs fail within the first five years. There is not enough information that can be used by SME owners/managers to develop best business practice policies to mitigate SMEs' failure and trigger socio-economic development. Critical success factor (CSFs) provides information that can be used to develop the best business practice to mitigate SMEs failure. Researchers stated that for owners/managers of SMEs to use CSFs models, they must replicate studies in new geographical areas or new industries. There is no CSFs model for the Nigerian location. The purpose is to position a CSFs model that can be used as information by owners/managers of SMEs to develop the best business policies to mitigate SME failures in Nigeria. This paper presents a thesis concepts where the researcher used a mixed research approach to position a CSFs model that can provide the information that can be used by owners/managers to mitigate SMEs failure and trigger socio-economic development. Mitigating SMEs' failure in Nigeria will reduce unemployment and poverty, which might trigger socio-economic development as envisaged by the federal government. This conceptual paper revealed the findings of the pilot study for the thesis were it was revealed that five variables impact SMEs' success in Jigawa State, Nigeria.},
 year = {2021}
}

Copy | Download

TY  - JOUR
T1  - The Mediating Impact of SMEDAN Initiative on the Relationship Between CSFs and SMEs' Success: A Conceptual Paper
AU  - Babandi Ibrahim Gumel
AU  - Barjoyal Bin Bardai
Y1  - 2021/03/17
PY  - 2021
N1  - https://doi.org/10.11648/j.ijber.20211002.12
DO  - 10.11648/j.ijber.20211002.12
T2  - International Journal of Business and Economics Research
JF  - International Journal of Business and Economics Research
JO  - International Journal of Business and Economics Research
SP  - 66
EP  - 75
PB  - Science Publishing Group
SN  - 2328-756X
UR  - https://doi.org/10.11648/j.ijber.20211002.12
AB  - Nigeria's federal government, after the oil boom of the 1970s, created policies, including the SMEDAN initiative, to trigger socio-economic development through entrepreneurship and small business development. Notwithstanding the importance of SMEs' socio-economic development and the Nigerian government's effort to support entrepreneurship and SMEs development, SMEs fail within the first five years. There is not enough information that can be used by SME owners/managers to develop best business practice policies to mitigate SMEs' failure and trigger socio-economic development. Critical success factor (CSFs) provides information that can be used to develop the best business practice to mitigate SMEs failure. Researchers stated that for owners/managers of SMEs to use CSFs models, they must replicate studies in new geographical areas or new industries. There is no CSFs model for the Nigerian location. The purpose is to position a CSFs model that can be used as information by owners/managers of SMEs to develop the best business policies to mitigate SME failures in Nigeria. This paper presents a thesis concepts where the researcher used a mixed research approach to position a CSFs model that can provide the information that can be used by owners/managers to mitigate SMEs failure and trigger socio-economic development. Mitigating SMEs' failure in Nigeria will reduce unemployment and poverty, which might trigger socio-economic development as envisaged by the federal government. This conceptual paper revealed the findings of the pilot study for the thesis were it was revealed that five variables impact SMEs' success in Jigawa State, Nigeria.
VL  - 10
IS  - 2
ER  -

Copy | Download