EXTERNAL ENVIRONMENT AND THE PERFORMANCE OF SMALL AND MEDIUM ENTERPRISES IN KOGI STATE

The study investigated external business environment and the Performance of Small and Medium Enterprises in Kogi State. The study adopted Primary data as a means of gathering information. This was achieved through the distribution of a wellstructured questionnaire. The total population for the study was (938740) based on the registered SMEs with SMEDAN. A sample size of 400 was arrived at from the population using Slovins sample size technique. In order to elicit responds from respondents, 400 questionnaires were distributed to the managers of the various SMEs across the three senatorial district of Kogi state. 318 questionnaires were retrieved from respondents. The data obtained from the study were analyzed by the use of multiple regressions analysis. Findings indicated that economic factor has a positive and significant (.000) effect on the sales performance of small and medium enterprises in Kogi state. Findings also revealed that socio cultural factor enhances the sales performance (.000) of small and medium enterprises in Kogi state. The study concluded that external business environment has a significant effect on the performance of small and medium enterprises in Nigeria. The study recommended that economic variables should be monitored by managers of SMEs as it has significant contribution to the sales performance of small and medium enterprises in Kogi state. It was also recommended that owners/managers of SMEs should adapt to the socio cultural environment in which their business is set, thereby producing what the cultural environment wants and various dynamics and inter-play of the socio cultural environment.

1 19 Jan, 2024

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