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ENVIRONMENTAL FACTORS, GLOBALIZATION AND SMALL AND MEDIUM SCALE ENTERPRISES PERFORMANCES IN AKURE, ONDO STATE, NIGERIA
ABSTRACT
The role of small and medium scale enterprises cannot be underestimated because they stimulate growth and development. Over the years, small and medium scale enterprises have been affected by environmental factors such as internal factors, external factors and globalization. Thus, this study examined the effect of environmental factors on the performance of small and medium scale enterprises. The study employed questionnaire instruments to collect information from 256 respondents through a random sampling which were analyzed using multiple regression techniques to establish the effect of environmental factors on the performance of small and scale enterprises. The result of the analysis revealed that internal and external factors had positive and significant effect on small and medium scale performance while globalization had negative and insignificant effect on small and medium scale enterprises performance. The study concluded that environmental factors had significant effect on small and medium scale performance with globalization having undesirable effect on small and medium scale enterprises performance. It was thus recommended that government should design and formulate policies aimed at strengthening the competitive capacity of small and medium scale enterprises in Nigeria.
Key Words: Globalization, Small and Medium Scale Enterprises, Environmental Factors