Commenced in January 2007
Paper Count: 30835
Small Businesses as Vehicles for Job Creation in North-West Nigeria
Abstract:Small businesses are considered as engine of economic growth, contributing to employment generation, wealth creation, and poverty alleviation and food security in both developed and developing countries. Nigeria is facing many socio-economic problems and it is believed that by supporting small business development, as propellers of new ideas and more effective users of resources, often driven by individual creativity and innovation, Nigeria would be able to address some of its economic and social challenges, such as unemployment and economic diversification. Using secondary literature, this paper examines the role small businesses can play in the creation of jobs in North-West Nigeria to overcome issues of unemployment, which is the most devastating economic challenge facing the region. Most studies in this area have focused on Nigeria as a whole and only a few studies provide a regional focus, hence, this study will contribute to knowledge by filling this gap by concentrating on North-West Nigeria. It is hoped that with the present administration’s determination to improve the economy, small businesses would be used as vehicles for diversification of the economy away from crude oil to create jobs that would lead to a reduction in the country’s high unemployment level.
Digital Object Identifier (DOI): doi.org/10.5281/zenodo.1124903Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1316
 Ayanda, A.M. and Laraba, A.S., (2011). Small and medium scale enterprises as a survival strategy for employment generation in Nigeria. Journal of sustainable development, 4(1), p.200.
 Yusuf, A. and Schindehutte, M., 2000. Exploring entrepreneurship in a declining economy. Journal of Developmental Entrepreneurship, 5(1), p.41.
 The Vanguard Newspaper (2016). Buhari’s diversification drive to receive boost with mining conference. (Online) Available: http://www.vanguardngr.com/2015/10/buharis-diversification-drive-to-receive-boost-with-mining-conference/ Accessed 6th January 2016
 Daily Trust Newspaper (2016). Nigeria can make $4bn annually from mining sector. (Online) Available: http://www.dailytrust.com.ng/news/business/-nigeria-can-make-4-bn-annually-from-mining-sector/115379.html#pipU6EKkZ1YbZ6pw.99 Accessed 6th January 2016
 Today Newspaper (2015). Diversification only way out of poverty. (Online) Available: https://www.today.ng/news/national/39670/diversification-only-way-out-of-poverty-buhari Accessed 18th November 2015
 National Bureau of Statistics. (2015). Survey Report. NBS. Abuja, Nigeria
 Egbougu, L. O. D. (2003). What small business entrepreneurs expect from local credit agencies and international business facilitators. Paper presented at “Business America”. A forum organized by the US Commercial Consulate. Lagos, Nigeria, March 3. p.1 -10.
 Carpenter, C. (2003). SME finance in Nigeria. Paper presented at the round table on “making small business finance profitable in Nigeria”. (Online) Available at: http//:www.ypforum.org/news-carpenter Accessed 17 March 2014
 Etuk, R. U., Etuk, G. R., and Baghebo, M. (2014). Small and medium scale enterprises (SMEs) and Nigeria’s economic development. Mediterranean Journal of Social Sciences, 5 (7) p.656-662
 Adisa, T. A., AbdulRaheem, I., and Mordi, C. (2014). The characteristics and challenges of small businesses in Africa: an exploratory study of Nigerian small business owners. Economic Insights – Trends and Challenges. 3(66), p.1-14
 The Small Business Advocate (2015). Small business profiles offer valuable insight into states’ economies. (online) SBA, February 2015, 34(2). (Online) Available: www.sba.gov/advocacy Accessed 21 June 2015
 SMEDAN (2015). National Policy on Micro, Small and Medium Enterprises. Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Abuja, Nigeria
 Ogbuabor, J.E., Malaolu, V.A. and Elias, T.I., (2013). Small scale enterprises, poverty alleviation and job creation in Nigeria: Lessons from burnt bricklayers in Benue State. Journal of Economics and sustainable Development, 4(18), p.120-133.
 Churchill, Q. R. (2013). Contemporary Approaches for Financing Micro, Small and Medium Enterprises. Conference on SME held at the International Conference Centre, Abuja, Nigeria, July 19 – 22, p. 2-15.
 Chittithaworn, C., Aminul Islam, Md., Keawchana, T., and Yusuf, M, D. H. (2011). Factors Affecting Business Success of Small & Medium Enterprises (SMEs) in Thailand, Asian Social Science, 7(5), p.180-190
 Uma, P. (2013). Role of SMEs in economic development of India, (Online) Asia Pacific Journal of Marketing & Management Review, 2(6), p.120.126 Available: indianresearchjournals.com. Accessed April 15th 2015
 Savlovschi, L. I. and Robu, N. R. (2011). The role of SMEs in modern economy. Economia Seria Management, 14(1), p.277-281
 FSB (2015). Business Population Estimates for the UK and Regions in 2015. (Online) Available: http://www.fsb.org.uk/media-centre/small-business-statistics Accessed 6th January 2016
 Acs, Z.J. (1992). Small business economics: A global perspective. Challenge, p.38-44.
 Igwe, C.N., Adebayo, M.S., Olakanmi, O.A., Ogbonna, I.G. and Aina, O.S. (2013). Promoting Wealth and Job Creation in Nigeria–Review of the Role of Entrepreneurship. Journal of Sustainable Development Studies, 3(1).
 SMEDAN (2010). MSME Collaborative Survey. Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Abuja, Nigeria
 Erastus, Y. E., Stephen, A., and Abdullai, I. (2014). Institutional framework for promoting small and medium scale enterprises in Ghana: Australian Journal of Business and Management Research. 3(10), p.28-45
 Maina, S. (2014). The role of entrepreneurship education on job creation among youths in Nigeria. International Letters of Social and Humanistic Sciences, (04), p.87-96.
 Ward, M. and Rhodes, C. (2014). Small businesses and the UK economy, Library House of Commons, Economic policy and statistics section, December 2014
 Tushabomwe-Kazooba, C. (2010). Small and medium-sized enterprises in East Africa, The African executive, September 1-7, issue 280, Nairobi, Kenya
 ECA - North Africa Office, (2008). SMEs Actors for Sustainable Development in North Africa, ECA-NA Office, Rabat, Morocco
 Ministry of Planning and National Development, Kenya (2007). Kenya Vision 2030: A Competitive and Prosperous Kenya. Nairobi, Government Printer.
 Statistics South Africa (2014). South Africa Unemployment Rate. (Online) Available: http://www.tradingeconomics.com/south-africa/unemployment-rate Accessed 14 June, 2014.
 Ngek, N. B. (2014). Determining high quality SMEs that significantly contribute to SME growth: regional evidence from South Africa. Problems and Perspectives in Management, 12 (4), p. 253-264
 Kadiri, I.B. (2012). Small and medium scale enterprises and employment generation in Nigeria: The role of finance. Kuwait Chapter of Arabian Journal of Business and Management Review, 1(9), p.79-93.
 Dabo, D. A. (2006). Financing of Small and Medium Sized Enterprises in Nigeria. Unpublished PhD Thesis, Lougborough University, UK
 Ojo, O. (2009,). Impact of microfinance on entrepreneurial development: The case of Nigeria. The International Conference on Administration and Business, ICEA-FAA Bucharest, 14th -15th November, pp. 536-545.
 UNIDO 2012 UNIDO-Nigeria, (2012). Turning Our Quantity Advantage into a Comparative Advantage, National Industrial Skill Development Programme, Abuja
 Liedholm, C. (2002). Small firm dynamics: evidence from Africa and Latin America. Small Business Economics, 18(1-3), p.225-240.
 Cabal, M. (1995). Growth, appearances and disappearances of micro and small enterprises in the Dominican Republic. Unpublished PhD Dissertation, Michigan State University.
 McPherson, M. A. (1998). ‘Zimbabwe: A Third Nationwide Survey of Micro and Small Enterprises: Final Report’, Development Alternatives, Washington, D.C.
 Awosika, B. O. (1997). Evolving a National Framework for the Emergence of a Strong and Virile Small and Medium Scale Industry Sub-Sector in Nigeria. A Seminar Paper Presented at MAN House, November 5th p.3
 Emeruwa, C.O. (2005). Capacity Building Entrepreneurial Development. Paper presented at FCE (T) Potiskum on ETF Capacity Building held on 13th-25th.