Small and Medium Enterprises Development and Poverty Reduction among Youths in Anambra State, Nigeria
Abstract
This study examined Small and Medium Enterprises Development and Poverty Reduction in Anambra State, Nigeria. It specifically investigated the impact of SMEs on income generation, employment generation and standard of living of youths in Anambra State using descriptive statistics. Data for the study was obtained from a sample 271 respondents that was determined using Taro Yamani formula. Findings revealed that SMEs has influenced income generation among SMEs owners in Anambra State to a very great extent. With respect to impact of SMEs on employment generation among SMEs owners in Anambra State, SMEs have fared so well. This was indicated by 66.2% of the respondents. 66.8% of the respondents indicated that SMEs has improved the standard of living of SMEs owners in Anambra State to a very great extent. Hypotheses revealed that SMEs have significantly influenced income generation, employment generation and also improved the standard of living of SMEs owners in Anambra State. The study therefore recommends that Government should as matter of urgency take proactive measures in addressing some of the key constraints faced by the sector such as Access to finance, Weak infrastructure, Inconsistency of Government Policies, Poor support (Business Development Services), and Access to market. The government through the banks should midwife the development and funding of skill acquisition centres especially providing appropriate funding for start-ups. There should be good institutions at all levels of government to support and promote SMEs as this will lead to reduction in corruption and regulatory burdens.
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Copyright (c) 2023 Opara, Promise H. , Iloanya, Kenneth Okechukwu , Ugochukwu Marius Ndubuisi
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