Dynamic Analysis of the Development of Small And Medium Scale Enterprises in Nigeria: Issues and Prospects

Abstract

The study examined the development of small and medium scale enterprises in Nigeria: Issues and prospects. The study also determined the roles that small and medium-sized businesses play in the expansion of an economy. The study made use of content analysis through systematic review methodology on similar papers published over a ten-year period, ranging from 2012 to 2022, using databases from ScienceDirect, Google Scholar, ECONBIZ, IJSTOR, EBSCO, Web of Science, and Scopus. A search of these databases and the grey literature yielded up 1150 publications; however, after filtering and grouping relevant papers according to predetermined criteria, 10 journals were included in this study. The study found that despite the many problems SMEs face in Nigeria, there are signs of hope as long as government and private sector initiatives to ensure their survival are properly implemented. This would enable SMEs to play bigger roles in an economy's process of growth.