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Journal of Competitiveness

The Effect of International Business on SMEs Growth in Nigeria

Oladimeji Moruff Sanjo, Muhammed Olaniyi Ibrahim

Keywords:
International business, SMEs growth, FDI, Trade openness, Exchange rate

Abstract
The research examined the effect of international business on SMEs growth in a competitive environment, particularly Nigeria. The secondary data were gathered from the Nigerian Bureau of Statistics and the Central Bank of Nigeria (CBN) annual report. This study adopted ordinary least square method of data analyses. The finding revealed that trade openness as a measure of competitiveness and FDI has no significant effect on SMEs growth in Nigeria. It was also revealed that the exchange rate has a significant effect on SMEs growth in Nigeria, and the level at which exchange rate affects SMEs growth is relatively high. It was further showed that the exchange rate has a negative coefficient indicating that, as the exchange rate reduces SMEs growth increases. It is concluded that trade competitiveness had no significant effect on SMEs growth in Nigeria. It is therefore recommended that government should formulate policies, which will encourage the reduction of exchange rate in the country in order to enhance competition and improve business activities across the country, and improve the growth of SMEs across the country, as well as encouraging entrepreneurship spirit in the country.

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10.7441/joc.2017.03.05


Oladimeji M. S., Muhammed O. I.(2017). The Effect of International Business on SMEs Growth in Nigeria. Journal of Competitiveness, 9 (3), 67-80. https://doi.org/10.7441/joc.2017.03.05
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ISSN 1804-171X (Print)
ISSN 1804-1728 (On-line)


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