INFLUENCE OF EFFECTIVE IMPLEMENTATION OF MANAGEMENT PRACTICES ON SUSTAINABILITY OF SMALL AND MEDIUM ENTERPRISES IN KATSINA STATE, NIGERIA

Mary Dembele, Oladejo Lukman Gbolagade and Ruqaiyat Mohammed Ka`oje
Volume 1 Issue 2

Abstract

This paper assessed how effective implementation of Management Practices reduces SMEs failure and ensures sustainability. A total of four Management Practices were regressed against sustainability of SMEs in Katsina State, using data from a structured questionnaire. The sample size for the study is 309 using Taro Yamane formula. A 53.7% response was achieved from the distributed questionnaires on the respondents ranging from manufacturers, service providers, farmers, marketers, traders and other professions and results were analyzed using Statistical Package for Social Sciences (SPSS). The findings revealed that implementation of Management Practices are key to every achieving longevity of every organisation. Moreover, Staff Empowerment, Staff Training and quality assurance are found to be applicable in the study area, while the level of adoption of technologies b most of the SMEs studied is low and lack of statistics for business failure rate. The study recommends that effective sustainability business plan is necessary for the survival of the SMEs in the Study area and Nigeria as a whole, government of Nigeria should revisit some of the tax laws of value added tax, annual tax returns to help SMEs and business grow without levy stress as well as educating business owners through their various associations in order to create awareness how to apply the studied management practices for sustaining their businesses. Government should make available technology at affordable rates for SMES among others. Proper record keeping of both failed and surviving businesses, these will definitely have positive influence on the growth of the country’s GDP, boost, create massive employment, reduce poverty and reverse business failure from 80% to at most 20%. Key words: Management Practices, Sustainability, SMEs, Business Failure, Sustainable Business Plan

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