- University of Lagos Business School
Akoka, Lagos, Nigeria - +2348022233883
- Dr. Olufemi Aladejebi is the Managing Consultant of The Great Business Clinic Ltd and Lecturer at the University of ... moreDr. Olufemi Aladejebi is the Managing Consultant of The Great Business Clinic Ltd and Lecturer at the University of Lagos Business School. He has published some articles and books on SMEs and Entrepreneurship. Dr. Aladejebi has consulted for over 150 SMEs in Nigeria.(Dr. Olufemi Aladejebi is the Managing Consultant of The Great Business Clinic Ltd and Lecturer at the University of Lagos Business School. He has published some articles and books on SMEs and Entrepreneurship. Dr. Aladejebi has consulted for over 150 SMEs in Nigeria.)edit
In the context of Nigeria, where the average lifespan of businesses is limited to approximately five years, addressing and overcoming challenges has become a critical imperative. This study underscores the pivotal role of business... more
In the context of Nigeria, where the average lifespan of businesses is limited to approximately five years, addressing and overcoming challenges has become a critical imperative. This study underscores the pivotal role of business diagnostics in supporting the growth and sustainability of businesses, particularly Small and Medium Enterprises (SMEs), in Nigeria. Specifically, it investigates how SMEs in Nigeria employ diagnostic tools, such as SWOT analysis, to discern their strengths, weaknesses, opportunities, and threats. Utilizing a qualitative research methodology, the study employs a structured, open-ended questionnaire as the primary data collection instrument, with a sample of fifteen strategically chosen SMEs participating in a specialized course at a business school. Purposive sampling ensures diversity among the selected SMEs, enriching the depth of the collected data. The structured, open-ended questionnaire allows participants to express their perspectives, facilitating in-depth responses freely. Thematic analysis is applied to identify patterns and insights within the qualitative data, providing nuanced answers to the research questions. The findings underscore that business diagnostics significantly contribute to the effective management and growth of SMEs in Nigeria, illuminating the potential for increased economic development through improved SME performance. Incorporating the results, the study sheds light on the varied experiences and perspectives of SMEs with business diagnostics, offering a rich and contextualized exploration of the subject matter. Meaningful recommendations derived from the study's findings, contribute to the body of knowledge on effective business diagnostics for SMEs in Nigeria.
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On October 26, 2022, the Central Bank of Nigeria (CBN) introduced a redesign of the N1, 000, N500, and N200 Naira currency notes to promote a cashless economy. Despite the well-intentioned government initiative, this policy posed... more
On October 26, 2022, the Central Bank of Nigeria (CBN) introduced a redesign of the N1, 000, N500, and N200 Naira currency notes to promote a cashless economy. Despite the well-intentioned government initiative, this policy posed significant challenges to Small and Medium Enterprises (SMEs) in Nigeria, resulting in decreased sales and productivity. This study aims to assess the impact of the currency redesign on small business performance, gauge awareness and preparedness among SMEs regarding the redesign, explore coping mechanisms employed by SMEs during the currency overhaul in Lagos, Nigeria, and propose enhancements for future currency redesign strategies. Utilizing a structured online questionnaire, primary data was collected from 310 SMEs in the Yaba/Ojuelegba region of Lagos, Nigeria, employing a stratified random sampling technique. Both SPSS and Excel were utilized for data analysis. The findings indicated a considerable awareness of the currency redesign among business own...
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On October 26, 2022, the Central Bank of Nigeria (CBN) introduced a redesign of the N1, 000, N500, and N200 Naira currency notes to promote a cashless economy. Despite the well-intentioned government initiative, this policy posed... more
On October 26, 2022, the Central Bank of Nigeria (CBN) introduced a redesign of the N1, 000, N500, and N200 Naira currency notes to promote a cashless economy. Despite the well-intentioned government initiative, this policy posed significant challenges to Small and Medium Enterprises (SMEs) in Nigeria, resulting in decreased sales and productivity. This study aims to assess the impact of the currency redesign on small business performance, gauge awareness and preparedness among SMEs regarding the redesign, explore coping mechanisms employed by SMEs during the currency overhaul in Lagos, Nigeria, and propose enhancements for future currency redesign strategies. Utilizing a structured online questionnaire, primary data was collected from 310 SMEs in the Yaba/Ojuelegba region of Lagos, Nigeria, employing a stratified random sampling technique. Both SPSS and Excel were utilized for data analysis. The findings indicated a considerable awareness of the currency redesign among business owners, yet inadequate preparedness due to limited resources and information. The currency redesign had a negative impact on SMEs, particularly in terms of decreased sales, but had little impact on workforce reductions. Price adjustments and better terms with suppliers were among the coping strategies, with point of sale (P.O.S.) machines emerging as the primary alternative payment method. Increased publicity, extended implementation periods, ample new currency supply, harmonized policies across government branches, alignment of monetary and fiscal policies, and increased implementation flexibility are among the recommendations for improved future implementations.
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Universities have been known to declare the intention to graduate students who are entrepreneurial and innovative in ways that spur socio-economic development. However, the outright increase in the rate students pursue white-collar jobs... more
Universities have been known to declare the intention to graduate students who are entrepreneurial and innovative in ways that spur socio-economic development. However, the outright increase in the rate students pursue white-collar jobs and delist from active entrepreneurial life has become alarming. There is more to student entrepreneurship development than teaching courses and setting up entrepreneurship centres. This study adopted a mixed-method approach to explore the drivers, challenges, and support available for student entrepreneurs at the University of Lagos. The study employed qualitative and quantitative methods to gather data from 15 students (*10 randomly selected through the university entrepreneurship centre and five students yet to engage with the university entrepreneurship centre). A researcher-designed open-ended questionnaire and key informant interview guide were used to gather data from the respondents. Responses from the questionnaire were synthesized and conve...
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The word 'Startup' has become a worldwide phenomenon. Every year millions of startup companies spring up worldwide. These startups have a great impact on the economies of countries in terms of new production and employment. The study aims... more
The word 'Startup' has become a worldwide phenomenon. Every year millions of startup companies spring up worldwide. These startups have a great impact on the economies of countries in terms of new production and employment. The study aims include studying the concept of startups, examining major challenges facing startups in Nigeria, suggesting key solutions that will ease the pains of startups in Nigeria and identifying the recent efforts by the Government to ease the challenges of doing business in Nigeria. Data was collected from the primary source by using a structured questionnaire. The sample was selected using a stratified random sampling technique. The target respondents were business startups across various sectors of the economy and the year of operations between 1 to 3 years. Data were gathered electronically using Google form from 1078 respondents in Nigeria, out of which valid responses were 1065. Microsoft Excel was used for analysis. The study showed that lack of startup capital, lack of access to an accelerator and access to bank loans were strongly major factors of startup problems for businesses in Nigeria. The important factors for the successful business startup identified include the idea, training, marketing, business model, teamwork and timing were other factors for the success of businesses in Nigeria. Further research can be done on the solutions for startup businesses' access to funds, training, and marketing business models, among others, to sustain business growth in Nigeria. The findings would be valuable to startup businesses, young entrepreneurs, researchers and Government (policymakers) in understanding startup challenges and highlighting the significant support that startup entrepreneurs need. It also offered useful inputs to policymakers in improving the existing entrepreneurial ecosystem in Nigeria.
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1. Introduction Zimbabwe has 78 public enterprises which are diverse in terms of objectives. These enterprises can be put into 3 categories according to the objectives they pursue (Godana and Hlatshwayo, 1999). Some are strategic like... more
1. Introduction Zimbabwe has 78 public enterprises which are diverse in terms of objectives. These enterprises can be put into 3 categories according to the objectives they pursue (Godana and Hlatshwayo, 1999). Some are strategic like Grain Marketing Board (GMB), Zimbabwe Defence Industries (ZDI), and the Zimbabwe Electricity Supply Authority (ZESA). Others are purely developmental and promotional like Agricultural and Rural Development Authority (ARDA) and Agribank. The third group is the largest, is comprised of those that are predominantly for commercial purposes like the Zimbabwe Steel Company (ZIMSTEEL), National Railways of Zimbabwe (NRZ), Air Zimbabwe, Minerals Marketing Company of Zimbabwe (MMCZ) and most of the subsidiaries to Zimbabwe Minerals Development Company (ZMDC). Put together, these enterprises have a capacity to contribute 40% to the country's Gross Domestic Product if fully operational. Many of these enterprises are monopolies in their sectors and would be ex...
Universities have been known to declare the intention to graduate students who are entrepreneurial and innovative in ways that spur socio-economic development. However, the outright increase in the rate students pursue white-collar jobs... more
Universities have been known to declare the intention to graduate students who are entrepreneurial and innovative in ways that spur socio-economic development.
However, the outright increase in the rate students pursue white-collar jobs and delist from active entrepreneurial life has become alarming. There is more to student entrepreneurship development than teaching courses and setting up entrepreneurship centres. This study adopted a mixed-method approach to explore the drivers, challenges, and support available for student entrepreneurs at the University of Lagos. The study employed qualitative and quantitative methods to gather data from 15 students (*10 randomly selected through the university entrepreneurship centre and five students yet to engage with the university entrepreneurship centre). A researcher-designed open-ended questionnaire and key informant interview guide were used to gather data from the respondents.
Responses from the questionnaire were synthesized and converted to quantitative data manually. In contrast, responses from the key informant interviews were coded into themes and stated verbatim in line with the study's objectives. The results showed that the craving for financial independence was the top of the reasons why students engage in entrepreneurship. In contrast, the inability to combine entrepreneurship with school activities served as one of the major challenges for student entrepreneurs. However, student entrepreneurs also need help with significant challenges, such as lack of funding, lack of support from the
University, and difficulty balancing academic demands with entrepreneurial pursuits. The study also recommends that the university timetable and yearly schedule be designed to allow student entrepreneurs to balance their academic responsibilities with the demands of their businesses. Overall, the findings of this study have implications for universities, policymakers, and other stakeholders.
However, the outright increase in the rate students pursue white-collar jobs and delist from active entrepreneurial life has become alarming. There is more to student entrepreneurship development than teaching courses and setting up entrepreneurship centres. This study adopted a mixed-method approach to explore the drivers, challenges, and support available for student entrepreneurs at the University of Lagos. The study employed qualitative and quantitative methods to gather data from 15 students (*10 randomly selected through the university entrepreneurship centre and five students yet to engage with the university entrepreneurship centre). A researcher-designed open-ended questionnaire and key informant interview guide were used to gather data from the respondents.
Responses from the questionnaire were synthesized and converted to quantitative data manually. In contrast, responses from the key informant interviews were coded into themes and stated verbatim in line with the study's objectives. The results showed that the craving for financial independence was the top of the reasons why students engage in entrepreneurship. In contrast, the inability to combine entrepreneurship with school activities served as one of the major challenges for student entrepreneurs. However, student entrepreneurs also need help with significant challenges, such as lack of funding, lack of support from the
University, and difficulty balancing academic demands with entrepreneurial pursuits. The study also recommends that the university timetable and yearly schedule be designed to allow student entrepreneurs to balance their academic responsibilities with the demands of their businesses. Overall, the findings of this study have implications for universities, policymakers, and other stakeholders.
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Corporate Governance is a broad term that defines the methods, structure and the processes through which the business and affairs of an organisation is managed and directed in the best interest of the company and other stakeholders. An... more
Corporate Governance is a broad term that defines the methods, structure and the processes through which the business and affairs of an organisation is managed and directed in the best interest of the company and other stakeholders. An effective Corporate Governance mechanism eliminate the conflict of ownership and control by separately defining the interest of shareholders and managers. This paper reviews the effectiveness of corporate governance on SMEs in the stock broking firms in Nigeria. Questionnaire was formulated using five-point Likert scale to collect data from a sample size of 200 stock broking owners and managers using convenience sampling technique. Valid responses were received from 171 respondents which was analysed using SPSS. The results shows that stock broking firms shows higher responsibility and commitment to corporate governance, the structure and functioning of the board of directors and the control environment and process complied with corporate governance s...
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Disasters happen from time to time all over the world. Companies face man-made and natural disasters that threaten to interrupt main business activities. Many Small businesses do not open after a disaster. Business continuity management... more
Disasters happen from time to time all over the world. Companies face man-made and natural disasters that threaten to interrupt main business activities. Many Small businesses do not open after a disaster. Business continuity management is used to help companies respond to any unprecedented event timely and effectively. The study's objective includes examining the preparation and readiness of small hotels for any potential disaster; examine the critical components of effective Business continuity management and the impact of disaster preparedness on business continuity. Data were collected from primary sources using a structured questionnaire. The target respondents were motels, guest houses, and one & two-star hotels in Lagos, Nigeria. Data were collected from 150 respondents, and only 140 were viable and analyzed using SPSS and Excel. The majority of the respondents were hotels, and most have been in business for over 5years. The study shows that prevention strategies popularl...
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COVID-19 has disrupted the economy of the world. The effect of the Pandemic has been devastating on the world's economy. This study examines the impact and survival strategies for Small and medium enterprises (SMEs) in Nigeria... more
COVID-19 has disrupted the economy of the world. The effect of the Pandemic has been devastating on the world's economy. This study examines the impact and survival strategies for Small and medium enterprises (SMEs) in Nigeria during the ongoing COVID-19 crises. The study adopted a quantitative research technique. Questionnaires were distributed to 360 SME owners in Lagos (60 each) in six commercial areas, namely Aspanda/Alaba, Surulere, Lagos Island, Ikeja, Ikoyi/Victoria Island and Yaba. 342 of the 360 questionnaires were viable. The respondents observed that the COVID-19 Pandemic's impact includes a reduction in revenue, reduced staff salaries, and government not doing enough to curtail the spread of the Pandemic. Significant problems faced by SMEs are the inability to repay loans, rent, and salaries. The respondents suggested that the government should lower interest rates, relax loan, and tax repayments.
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The purpose of this study was to determine the effect of credit management on performance of loan portfolios among SACCOS in Kisumu County, Kenya. The study sought to determine the effect of credit risk identification, risk analysis, risk... more
The purpose of this study was to determine the effect of credit management on performance of loan portfolios among SACCOS in Kisumu County, Kenya. The study sought to determine the effect of credit risk identification, risk analysis, risk monitoring and control and credit approval on performance of loans portfolio among SACCOs in Kisumu Kenya.Descriptive research design was used. The sample size was 56 credit managers in the deposit taking SACCO’S who were selected using purposive sampling. Data collected was analyzed using descriptive statistics that will yield tables, charts, mean and standard deviation that was used to give meaning to the data collected. The study found a positive and statistically significant effect of credit risk identification, credit risk analysis, credit risk monitoring and credit approval on performance of loan portfolios of the SACCOs studied. Hence, the study concludes that much effort should be directed to credit risk management to achieve improvement in...
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As part of the response to Covid 19, working from home (WFH) was enforced by governments of more than 150 countries in order to curtail the transmission of the pandemic. The COVID-19 pandemic had brought new business ideas, making... more
As part of the response to Covid 19, working from home (WFH) was enforced by governments of more than 150 countries in order to curtail the transmission of the pandemic. The COVID-19 pandemic had brought new business ideas, making organizations change how they conduct their business. This study aims to discuss the advantages and disadvantages of working from home in the scientific literature, using questionnaires, how employees feel about WFH in the aspects of family values, increase of performance, isolation and disrupts work-life balance, how workers cope with WFH. Data was collected from the primary source by using a structured questionnaire completed through google form. The target respondents were employers and employees both from the private sector of the economy . Data was gathered from 504 respondents. SPSS and Excel were used to analyse the data. The majority of the respondents were employees (76.98%), while 23.02% were employers. An inquiry was also made about the marital ...
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Crowdfunding has become a new phenomenon of raising capital for business. Crowdfunding is prevalent in developed nations, while it is just getting popular in developing countries. The research method used for the research was multiple... more
Crowdfunding has become a new phenomenon of raising capital for business. Crowdfunding is prevalent in developed nations, while it is just getting popular in developing countries. The research method used for the research was multiple case studies. The purposive sampling method was used to select the five participants for the research. The questionnaire contained fifteen questions. Eighteen themes were generated from the questions. As a result of Social distancing for protection under COVID 19, questions were sent to the respondents via the Google form. The thematic analysis result revealed that agricultural business is the most popular when it comes to crowdfunding. It is an opportunity for entrepreneurs to raise money from another source, easier to access funds through crowdfunding. The crowdfunding approaches used to raise funds by the five participants are loans, hybrid, reward-based, and royalty-based approaches. Crowdfunding is an effective funding alternative for entrepreneurs.
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Hybrid entrepreneurship is when a person is in employment and simultaneously engaging in entrepreneurial activities. Hybrid entrepreneurship is referred to as ‘side hustle' in Nigeria. Hybrid entrepreneurship may be an option in a... more
Hybrid entrepreneurship is when a person is in employment and simultaneously engaging in entrepreneurial activities. Hybrid entrepreneurship is referred to as ‘side hustle' in Nigeria. Hybrid entrepreneurship may be an option in a situation where salaried workers are not sure of retaining their employment. The theoretical framework for the study is learning and real options theory. A quantitative research technique was used for the study. Questionnaires were administered to 150 respondents using a purposive sampling method. One hundred forty-five questionnaires were valid and analysed using a 5 Likert scale. It was observed that most of the hybrid business owners were employees in the public sector; the ages of the hybrid business owners were majorly between 31 and 50. Autonomy and the need for extra income are the main reasons employees run a business alongside their work.
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This research studied the relationship between entrepreneurship education and entrepreneurial intention of university students. Following original research by Zhang, Duysters, Cloodt (2014), Ajzen's theory of planned behavior and... more
This research studied the relationship between entrepreneurship education and entrepreneurial intention of university students. Following original research by Zhang, Duysters, Cloodt (2014), Ajzen's theory of planned behavior and Shapero's entrepreneurial event model would be incorporated to identify the effect of exogenous variables such as entrepreneurship education, prior entrepreneurial exposure, perceived desirability and feasibility towards entrepreneurial intention in university students. Furthermore, this study aimed to investigate the selection hypothesis of entrepreneurship education for entrepreneurial intentions. Lastly, this study was also proposing to investigate the moderating effect of the teachers and instructors' enthusiasm (Frenzel et al., 2009), pre-educational entrepreneurship intention (Bae et al., 2014), gender (Verheul et al., 2012), as well as the moderating effect of peers in the classroom (Falck et al., 2012). The data would be collected from o...
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Working capital management has its impact on the liquidity and profitability of a firm. This study examined the influence of working capital management on corporate profitability in The India Cement Limited. The relationship between the... more
Working capital management has its impact on the liquidity and profitability of a firm. This study examined the influence of working capital management on corporate profitability in The India Cement Limited. The relationship between the dependent variable, return on investment (ROI), and the independent variables (some important ratios relating to working capital management) was assessed for a period of 11 years (2001–2011). A stepwise linear multiple regression analysis (MRA) was conducted to assess the impact of working capital management on the ROI. The study of MRA revealed that the slope of regression line associated with current asset to sales ratio (CASR) shows a statistically significant negative impact of the CASR on the profitability of the company during the study period.
Women Entrepreneurs play a significant role in the global economy in this 21st Century. The purpose of this study is to examine the specific challenges faced by women entrepreneurs in the southwestern states of Nigeria. Data were... more
Women Entrepreneurs play a significant role in the global economy in this 21st Century. The purpose of this study is to examine the specific challenges faced by women entrepreneurs in the southwestern states of Nigeria. Data were collected from businesses owned by women who reside within the six state capitals of Southwestern states of Nigeria. The cities are Lagos, Abeokuta, Ibadan, Oshogbo, Akure, and Ado-Ekiti. Similar big cities within each state were surveyed to increase the number of respondents for state capitals where a small number of questionnaires were retrieved. Out of Seven hundred and twenty (720) questionnaires distributed, Five hundred and two (502) questionnaires were viable using the SPSS package. The questionnaire contained two sections. Section 1 for general information. Section 2 contained questions relating to motivational factors and the challenges faced by these women entrepreneurs, which, in their opinion, constitutes barriers to the successes of their busin...
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To ensure survival, seize opportunities and resist threats in the unpredicted world of the business, firms are increasingly adopting practices that give room for Intrapreneurship. Currently, all companies need to adapt to that business to... more
To ensure survival, seize opportunities and resist threats in the unpredicted world of the business, firms are increasingly adopting practices that give room for Intrapreneurship. Currently, all companies need to adapt to that business to the disruptive times. Intrapreneurship will help companies develop innovative products and services that will make them be ahead of the competition and adapt their business to disruptive times. This study contributes to the research on Intrapreneurship. The study goals include analyzing the impact of Intrapreneurship on corporate development, identifying barriers to Intrapreneurship in the workplace, and providing a guide to institutionalizing Intrapreneurship to become an integral part of an organization's culture. Data was collected using a structured questionnaire via google form completed by 229 respondents who are workers of corporate organizations. SPSS and Excel were used to analyze the data collected. The study found out that new ideas proposed by employees are supported by their employer; employees are properly rewarded for innovation, there is a positive level of interaction among workers, the adequate reward for innovative staff, and most respondents use 'we' rather than' they' which shows the workers loyalty to their organizations, staff are willing to encourage other staff to new ideas. Therefore, it is recommended that organizations create a conducive working environment for innovation to thrive, and top management should reward excellent staff for implementing creative ideas.
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This study examined the determinants of alumni financial support to university using institutional survey conducted on the University of Lagos Business School alumni. Overall, 82 potential alumni participated in an online survey that... more
This study examined the determinants of alumni financial support to university using institutional survey conducted on the University of Lagos Business School alumni. Overall, 82 potential alumni participated in an online survey that assessed personal and institutional factors related to an willingness to make donations to the university. The results of the study identified student's academic experience and belonging to a non-academic student group as major positive influencers of intention to give. Furthermore, the study revealed that gender and tribal balance as well as the University consenting to making their financials public were top conditions for financial giving. This study concluded that for universities and other higher educational institutions to deploy alumni funding as financial strategy must change the perception of their Alma Mata and improve the quality of student-Institution relations while on campus. It is recommended for the University to increase alumni giving, University must improve on the current students' academic and social experiences on campuses and create permanent bonding and impression in post-graduation
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Small and Medium Enterprises (SMEs) play a major role in the Nigerian economy, especially in terms of Employment, growth, productivity, and poverty alleviation. The purpose of this study was to examine the impact of Microfinance Banks... more
Small and Medium Enterprises (SMEs) play a major role in the Nigerian economy, especially in terms of Employment, growth, productivity, and poverty alleviation. The purpose of this study was to examine the impact of Microfinance Banks (MFB) on the growth of SMEs in Lagos metropolis The data for this study was collected via questionnaires given to the owners of SMEs that had accounts with microfinance banks in Lagos metropolis. Out of 209 questionnaires distributed, 205 were viable and analyzed using the SPSS package. The questionnaire contained 2 sections. Section 1 for general information while section 2 contains questions on effects of micro-savings on financial performance, effects of microcredit on the financial performance of the SMEs, effects of training on the financial performance of the SMEs and financial performance. The outcome revealed that the savings among SMEs are encouraging because of higher interest rates compared to deposit banks, faster loan disbursement, failure...
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This paper examined published financial statements information contents as tools for investment decision making in Nigeria Deposit Money Banks (NDMBs). Ten NDMBs quoted on the Nigeria Stock Exchange, ten stockbrokers in Oyo state that are... more
This paper examined published financial statements information contents as tools for investment decision making in Nigeria Deposit Money Banks (NDMBs). Ten NDMBs quoted on the Nigeria Stock Exchange, ten stockbrokers in Oyo state that are registered with the Security and Exchange Commission in Nigeria and three audit firms were selected. Primary data was collected through the questionnaire administered on the stockbrokers and audit firms. And secondary data was sourced from the annual reports of the selected banks from 2011-2016. Multiple regression and Analysis of Variance (ANOVA) were employed to analyze relationship between the information contents of published financial statements and investment decision making at 0.05 level of significance. Descriptive statistics was used to show the extent to which the published financial statements are reliable for investment decision making. The result showed that there was a significant relationship between the information contents of the published financial statements and investment decision making. It also revealed that published financial statements information contents are only moderately reliable for investment decision making in NDMBs. The study concluded that contents of the published financial statements are vital information any investor would need or require of a bank before investing in that bank. Therefore, this study recommended that regulatory bodies like the Central Bank of Nigeria (CBN) should continuously ensure that banks’ published financial statements are reflections of their financial status and performance.
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Small and medium enterprises (SMEs) play a prominent role in the development of the world economy. SMEs are used for redistribution of income, employment generation, check rural-urban drift, export promotion, diversification of the... more
Small and medium enterprises (SMEs) play a prominent role in the development of the world economy. SMEs are used for redistribution of income, employment generation, check rural-urban drift, export promotion, diversification of the economy, mobilization of savings among others. Capital is one of the important factors determining the survival and growth of SMEs especially in developing economies. The study aims to examine the criteria used by deposit banks in assessing loan applications of SMEs in Lagos, Nigeria. Data were gathered from two hundred and ten (210) bank staff across thirteen (13) deposit banks; however, only two hundred and three (203) questionnaires were okay. The questionnaire was designed using five points Likert scale ranging from strongly agree (5) to strongly disagree (1) to provide information on the criteria used in assessing SME borrowers. The study found out that projected Income criterion ranked first, followed by the type of business activity then existing p...
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As part of the response to Covid 19, working from home (WFH) was enforced by governments of more than 150 countries in order to curtail the transmission of the pandemic. The COVID-19 pandemic had brought new business ideas, making... more
As part of the response to Covid 19, working from home (WFH) was enforced by governments of more than 150 countries in order to curtail the transmission of the pandemic. The COVID-19 pandemic had brought new business ideas, making organizations change how they conduct their business. This study aims to discuss the advantages and disadvantages of working from home in the scientific literature, using questionnaires, how employees feel about WFH in the aspects of family values, increase of performance, isolation and disrupts work-life balance, how workers cope with WFH. Data was collected from the primary source by using a structured questionnaire completed through google form. The target respondents were employers and employees both from the private sector of the economy. Data was gathered from 504 respondents. SPSS and Excel were used to analyse the data. The majority of the respondents were employees (76.98%), while 23.02% were employers. An inquiry was also made about the marital status of the respondents, and the majority (71.83%) were married while 28.17% were single. The study showed that respondents were still able to connect with their teammates despite working from home, frequently communicate with leaders, and have clarity on working from home policies. It can also be seen that the majority of the respondents enjoyed working from home, although they still look forward to returning to the office. Findings on working from home on family values show that this work style positively influences availability at the home front. Findings on the effect on work performance show average agreement on the positive impact of working from home. Agreement on the negative impact of working from home on office/social interaction and work-life balance was also seen to be on average. It can be inferred from this study that working from home is a work style that employees would prefer to continue post-COVID-19.
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As part of the response to Covid 19, working from home (WFH) was enforced by governments of more than 150 countries in order to curtail the transmission of the pandemic. The COVID-19 pandemic had brought new business ideas, making... more
As part of the response to Covid 19, working from home (WFH) was enforced by governments of more than 150 countries in order to curtail the transmission of the pandemic. The COVID-19 pandemic had brought new business ideas, making organizations change how they conduct their business. This study aims to discuss the advantages and disadvantages of working from home in the scientific literature, using questionnaires, how employees feel about WFH in the aspects of family values, increase of performance, isolation and disrupts work-life balance, how workers cope with WFH. Data was collected from the primary source by using a structured questionnaire completed through google form. The target respondents were employers and employees both from the private sector of the economy. Data was gathered from 504 respondents. SPSS and Excel were used to analyse the data. The majority of the respondents were employees (76.98%), while 23.02% were employers. An inquiry was also made about the marital status of the respondents, and the majority (71.83%) were married while 28.17% were single. The study showed that respondents were still able to connect with their teammates despite working from home, frequently communicate with leaders, and have clarity on working from home policies. It can also be seen that the majority of the respondents enjoyed working from home, although they still look forward to returning to the office. Findings on working from home on family values show that this work style positively influences availability at the home front. Findings on the effect on work performance show average agreement on the positive impact of working from home. Agreement on the negative impact of working from home on office/social interaction and work-life balance was also seen to be on average. It can be inferred from this study that working from home is a work style that employees would prefer to continue post-COVID-19.
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Succession in the Family business is essential. Eighty-eight percent of businesses fail to survive to the third generation. The objective of this qualitative multiple case study was to examine the strategies that family business owners... more
Succession in the Family business is essential. Eighty-eight percent of businesses fail to survive to the third generation. The objective of this qualitative multiple case study was to examine the strategies that family business owners use to implement succession planning required for their businesses to continue in Nigeria. A qualitative multiple case study method was used in this paper. The sample includes 4 Nigerian family businesses that are in business for more than a decade. Potential participants were chosen based on knowledge and referral. Interviews were conducted physically observing Covid 19 protocols and through telephone conversation. Analysis shows that the family businesses used in this case study have all been in existence for at least 20 years showing the sustainability strength and tenacity of well-managed family businesses. From the 4 cases, it can be seen that the factors affecting succession planning include management abilities, experience, negotiating skills, people management, understanding of the market, gender, and religious bias. These factors give us insights into what the owners expect as factors that determine who their successors are. In conclusion, key decision-makers in the family business are more interested in the continued sustainability of the business than in making sentimental decisions that can negatively affect the business.
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Original Research Article Disasters happen from time to time all over the world. Companies face man-made and natural disasters that threaten to interrupt main business activities. Many Small businesses do not open after a disaster.... more
Original Research Article Disasters happen from time to time all over the world. Companies face man-made and natural disasters that threaten to interrupt main business activities. Many Small businesses do not open after a disaster. Business continuity management is used to help companies respond to any unprecedented event timely and effectively. The study's objective includes examining the preparation and readiness of small hotels for any potential disaster; examine the critical components of effective Business continuity management and the impact of disaster preparedness on business continuity. Data were collected from primary sources using a structured questionnaire. The target respondents were motels, guest houses, and one & two-star hotels in Lagos, Nigeria. Data were collected from 150 respondents, and only 140 were viable and analyzed using SPSS and Excel. The majority of the respondents were hotels, and most have been in business for over 5years. The study shows that prevention strategies popularly put in place by these institutions were against fire, burglary, and local political instability. They seem to be laidback regarding risks such as floods, storms & lightning, and acts of terrorism. Risk assessment efforts were also seen to be directed towards risks such as fire, pandemic, and labour dispute/political instability. Risks such as a pandemic, acts of terrorism and flood, storm & lightning were seen not to receive much attention.
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Original Research Article Corporate Governance is a broad term that defines the methods, structure and the processes through which the business and affairs of an organisation is managed and directed in the best interest of the company and... more
Original Research Article Corporate Governance is a broad term that defines the methods, structure and the processes through which the business and affairs of an organisation is managed and directed in the best interest of the company and other stakeholders. An effective Corporate Governance mechanism eliminate the conflict of ownership and control by separately defining the interest of shareholders and managers. This paper reviews the effectiveness of corporate governance on SMEs in the stock broking firms in Nigeria. Questionnaire was formulated using five-point Likert scale to collect data from a sample size of 200 stock broking owners and managers using convenience sampling technique. Valid responses were received from 171 respondents which was analysed using SPSS. The results shows that stock broking firms shows higher responsibility and commitment to corporate governance, the structure and functioning of the board of directors and the control environment and process complied with corporate governance structure while transparency and disclosure requirements positively affect the overall performance by the SMEs in the stock broking firms. The study suggest that there is need for more awareness on the importance of good corporate governance on SMEs in Nigeria. Also, the regulatory authorities should ensure close and proper monitoring of the SMEs in the stock broking firms to ensure that the corporate governance gains achieved are not only sustained but improved upon for the stakeholders" benefits.
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The availability of and access to capital is very important to the growth and sustainability of an economy. Extending credit to women entrepreneurs will help them to start and run their business, thus creating employment and contribute to... more
The availability of and access to capital is very important to the growth and sustainability of an economy. Extending credit to women entrepreneurs will help them to start and run their business, thus creating employment and contribute to increasing the wealth of a nation. The objective of the study is to get the views of Credit/Marketing officers of deposit banks on the issue of access to credit by male and female entrepreneurs in order to either affirm or debunk the myth that men have better access to loans than women. Data was gathered from the primary source through a structured questionnaire. The sample was selected using a stratified random sampling technique. The target respondents were Credit/Marketing officers with a minimum of 3 years of experience. Twenty were randomly selected from the 17 deposit banks. SPSS and Excel were used to analyze the data. 72.1% of the respondents were female. There are more loan applications from male entrepreneurs than from female, while governments are more disposed to funding men than
women had one of the least means. There is no bank Credit product exclusive to men, whereas there are about 19 Credit products exclusive to women.
women had one of the least means. There is no bank Credit product exclusive to men, whereas there are about 19 Credit products exclusive to women.
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Gender diversity is becoming an issue for boards of companies, regulators, and investors worldwide. Nigeria is not an exception. It is assumed that board gender diversity significantly improves corporate governance and financial... more
Gender diversity is becoming an issue for boards of companies, regulators, and investors worldwide. Nigeria is not an exception. It is assumed that board gender diversity significantly improves corporate governance and financial performance. Recently, women in both senate and House of representative met and agreed to pursue 35% appointment in public appointments. The women eventually sent a representation to discuss this with President Mohammadu Buhari. This study's main objective is to examine the relationship between gender diversity and quoted deposit money banks' performance in Nigeria using descriptive statistics, trend, and correlation analysis. Data was collected through the websites of 13 publicly quoted banks on the Nigerian stock exchange. Gender of directors was sieved by using the biography section of Annual report, use of gender-specific pronouns 'she,' the third is the usage of address 'Mr' and 'Mrs' while the use of the first name was also used to determine the Gender. Data were analysed by using SPSS. Trend analysis of each bank's percentage of female board members between 2015 and 2019 shows an unstable trend. The rate at which the female Gender occupies the Board in the banks does not appear to have a specific pattern to make inferences. It also lacks a strong relationship between the number of female board members and banks' performance. There is a weak negative relationship between earnings per share and female board members' percentage. It can be concluded that the inclusion of women on the Board of a company does not necessarily translate into an improvement in a company's financial performance.
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Youth unemployment is a problem that affects developing countries, including Nigeria. Recent research on youths and their involvement in entrepreneurship activities is gaining ground seriously due to the economic downturn that increases... more
Youth unemployment is a problem that affects developing countries, including Nigeria. Recent research on youths and their involvement in entrepreneurship activities is gaining ground seriously due to the economic downturn that increases unemployment. The study's goals include providing suitable suggestions to promote entrepreneurship, problems confronting youth entrepreneurship, the examination of the role of entrepreneurial education in youth employment, and schemes that boost youth entrepreneurship. Data was collected from the primary source by using a structured questionnaire. The sample was selected using a stratified random sampling technique. The target respondents were youths between the ages of 20 and 40 years. Data was gathered from 220 youth entrepreneurs in Lagos, Nigeria. SPSS and Excel were used to analyse the data. The study found out parents and family influenced their decision to start a business. Lack of access to finance and financial risks were found to be significant demotivators for youths against starting up a business. Education was seen to support the entrepreneurial careers of the respondents. The study also showed that difficulty in attracting funding was a significant problem affecting youth entrepreneurship. The recommendations include Tertiary institutions should train students in entrepreneurship. The government should set up special funds (Loans & Grants) for youth entrepreneurship. Youth should be involved in policy development on entrepreneurship. Capacity-building should be organized often for youth entrepreneurs. More functional incubation centers should be established across the country to breed young entrepreneurs. Established adult and youth entrepreneurs should be encouraged to mentor up and coming, youth entrepreneurs. The government should be consistent in youth entrepreneurship policy. The Government should address the issue of multiple taxations, poor infrastructure, poor planning, corruption, etc. The government should encourage citizens to patronize homemade goods. Bureaucratic bottlenecks concerning government transactions with entrepreneurs should be eliminated. The government should improve the ease of doing business.
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Small and Medium Enterprises (SMEs) play a major role in the Nigerian economy, especially in terms of Employment, growth, productivity, and poverty alleviation. The purpose of this study was to examine the impact of Microfinance Banks... more
Small and Medium Enterprises (SMEs) play a major role in the Nigerian economy, especially in terms of Employment, growth, productivity, and poverty alleviation. The purpose of this study was to examine the impact of Microfinance Banks (MFB) on the growth of SMEs in Lagos metropolis The data for this study was collected via questionnaires given to the owners of SMEs that had accounts with microfinance banks in Lagos metropolis. Out of 209 questionnaires distributed, 205 were viable and analyzed using the SPSS package. The questionnaire contained 2 sections. Section 1 for general information while section 2 contains questions on effects of micro-savings on financial performance, effects of microcredit on the financial performance of the SMEs, effects of training on the financial performance of the SMEs and financial performance. The outcome revealed that the savings among SMEs are encouraging because of higher interest rates compared to deposit banks, faster loan disbursement, failure of MFBs to conduct training for SMEs, while the majority of SMEs experienced financial growth using MFB products.
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Women Entrepreneurs play a significant role in the global economy in this 21 st Century. The purpose of this study is to examine the specific challenges faced by women entrepreneurs in the southwestern states of Nigeria. Data were... more
Women Entrepreneurs play a significant role in the global economy in this 21 st Century. The purpose of this study is to examine the specific challenges faced by women entrepreneurs in the southwestern states of Nigeria. Data were collected from businesses owned by women who reside within the six state capitals of Southwestern states of Nigeria. The cities are Lagos, Abeokuta, Ibadan, Oshogbo, Akure, and Ado-Ekiti. Similar big cities within each state were surveyed to increase the number of respondents for state capitals where a small number of questionnaires were retrieved. Out of Seven hundred and twenty (720) questionnaires distributed, Five hundred and two (502) questionnaires were viable using the SPSS package. The questionnaire contained two sections. Section 1 for general information. Section 2 contained questions relating to motivational factors and the challenges faced by these women entrepreneurs, which, in their opinion, constitutes barriers to the successes of their businesses. The main challenges facing women entrepreneurs today in South West Nigeria are lack of adequate training, access to start-up capital, and poor family support.
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Networking is ultimately the process of exchanging information between two or more people; in this case, entrepreneurs. The main objective of this paper is to look into the firm attributes related to formal networking and investigate... more
Networking is ultimately the process of exchanging information between two or more people; in this case, entrepreneurs. The main objective of this paper is to look into the firm attributes related to formal networking and investigate whether membership in formal networks in the form of business associations and industry/trade-specific associations has been an impact on the growth of SMEs business in Lagos, Nigeria. A purposeful sample was used to select respondents. Questionnaires designed to examine the views of the entrepreneur about SME networking were distributed amongst two SME groups, namely Nigerian Association Of Small Scale Industrialists (NASSI), Lagos, and PHARMALLIANCE (Association of Community Pharmacists). The research instrument was based on a five-point Likert scale. The questionnaire administered contained 2parts, Part 1: contains general information, while Part 2: contains specific questions relating to networking. The results of the analysis showed a generally positive overview of SME networking in Nigeria. The respondents mostly agree across both groups that networking is of great benefit to their businesses.
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COVID-19 has disrupted the economy of the world. The effect of the Pandemic has been devastating on the world's economy. This study examines the impact and survival strategies for Small and medium enterprises (SMEs) in Nigeria during the... more
COVID-19 has disrupted the economy of the world. The effect of the Pandemic has been devastating on the world's economy. This study examines the impact and survival strategies for Small and medium enterprises (SMEs) in Nigeria during the ongoing COVID-19 crises. The study adopted a quantitative research technique. Questionnaires were distributed to 360 SME owners in Lagos (60 each) in six commercial areas, namely Aspanda/Alaba, Surulere, Lagos Island, Ikeja, Ikoyi/Victoria Island and Yaba. 342 of the 360 questionnaires were viable. The respondents observed that the COVID-19 Pandemic's impact includes a reduction in revenue, reduced staff salaries, and government not doing enough to curtail the spread of the Pandemic. Significant problems faced by SMEs are the inability to repay loans, rent, and salaries. The respondents suggested that the government should lower interest rates, relax loan, and tax repayments.
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Hybrid entrepreneurship is when a person is in employment and simultaneously engaging in entrepreneurial activities. Hybrid entrepreneurship is referred to as 'side hustle' in Nigeria. Hybrid entrepreneurship may be an option in a... more
Hybrid entrepreneurship is when a person is in employment and simultaneously engaging in entrepreneurial activities. Hybrid entrepreneurship is referred to as 'side hustle' in Nigeria. Hybrid entrepreneurship may be an option in a situation where salaried workers are not sure of retaining their employment. The theoretical framework for the study is learning and real options theory. A quantitative research technique was used for the study. Questionnaires were administered to 150 respondents using a purposive sampling method. One hundred forty-five questionnaires were valid and analysed using a 5 Likert scale. It was observed that most of the hybrid business owners were employees in the public sector; the ages of the hybrid business owners were majorly between 31 and 50. Autonomy and the need for extra income are the main reasons employees run a business alongside their work.