Exploring the Challenges of an SME’s Survival, Sustainability and Growth outside its Business Cluster: a Study of MGP



Bode-George, Roli
(2019) Exploring the Challenges of an SME’s Survival, Sustainability and Growth outside its Business Cluster: a Study of MGP. Doctor of Business Administration thesis, University of Liverpool.

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Abstract

Small and Medium Enterprises (SMEs) are regarded as the bedrock of any economy and ideally act as a significant engine driver that stimulates the growth of jobs and wealth creation in a country’s economic system. Only when successful can they contribute and foster economic development and growth of any nation. Furthermore, SMEs strengthen and enhance sustainable growth. Researchers acknowledge that SME performance forms a gateway for opening numerous doors for employment opportunities and both tangible and intangible investment in a country. However, they note the alarming failure rate of Nigerian SMEs, noting slim chances of survival. This research stems from the current high rate of Small and Medium Enterprise (SME) failures in Nigeria, which constitutes a “wicked problem”, and examines the challenges of an SME located outside its Business Cluster (BC) using a case study approach within an Action Research paradigm. It considers the role of location as a factor for business survival and growth. It also examines recent debates on the role of various success and failure factors that are critical for the success of an SME located outside its BC; the study holds a holistic perspective that incorporates diverse aspects of SME research on survival, failure and growth. This study aims to address the current trend of failure and to suggest ways to alleviate the current failure rate of Nigerian SMEs while ensuring that they remain sustainable and continue to have growth potential. The major findings of this study acknowledge that, while location plays a critical factor for the success and sustainability of an SME, a more fundamental problem responsible for SME failures exists in Nigeria. This study contributes to management practice in the area of SME business start-up. This research also proffers a theoretical framework that can be used as a practical guide to SMEs at their inception, giving them a better chance for survival and enhanced performance in the turbulent, volatile and challenging Nigerian business environment; it also presents a business model for SMEs located outside their BC.

Item Type: Thesis (Doctor of Business Administration)
Divisions: Faculty of Humanities and Social Sciences > School of Management
Depositing User: Symplectic Admin
Date Deposited: 08 Mar 2021 15:24
Last Modified: 18 Jan 2023 23:02
DOI: 10.17638/03114596
Supervisors:
  • Matheus, Thomas
URI: https://livrepository.liverpool.ac.uk/id/eprint/3114596