Repositioning Small and Medium Enterprises for Sustainable Economic Growth, Industrialization and Development through Education and Learning


Theme 5   Miscellaneous.

Researchers and academics.

ABSTRACT

The growing interest in the area of entrepreneurship has developed alongside interest in the changing role of small businesses. The small business primarily carries the entrepreneurial trust. Small and Medium Enterprises by nature constitute the most viable vehicle for sustaining industrial development because they possess the capacity to promote an indigenous enterprise culture. In most developing economies, SMEs have been used as a strategy for employment generation, food security, poverty alleviation, rapid industrialization and reversing rural-urban migration. It is also a tool for economic restructuring for development and growth. This paper argues that for Nigeria to achieve Sustainable Economic Growth, Industrialization and Development (SEGID), the establishment of a robust private sector is critical. In the quest to establish such a sector, the focus has to be the development of viable and successful small to medium size business enterprises (SMEs). It further argues that education and learning that enhance both theoretical and practical skills of entrepreneurs are the main determinant of such enterprises. This study explores the developmental impacts of SMEs, identifies the various challenges to the development of viable small and medium enterprises in Nigeria and discusses the linkage between learning and productivity in SME sector. This study contends that the developmental and growth potentials of SMEs in Nigeria lie more in learning opportunities it provides in teaching apprentices and creating new units than in providing permanent jobs.





Keywords: Repositioning, Industrialization, Small and Medium Enterprises, Education, Productivity.





Presented by: (, ) and Alexander Nwankpa

Cancelled


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