EFFECT OF ECONOMIC DEPRESSION ON GROWTH OF SMALL AND MEDIUM SCALE ENTERPRISES: A STUDY OF AWKA SOUTH LOCAL GOVERNMENT AREA, ANAMBRA STATE, NIGERIA

Obiageli Gloria Akamobi, Chioma Peace Ezudike

Abstract


This research work studied the effect of economic depression on the growth of small and medium scale enterprises (SMEs) in Awka South Local Government Area, Anambra State and their contribution to economic growth. This research focuses on the extent to which economic hardship affects the operations and activities of SMEs in Awka South. The study was conducted in Awka South Local Government Area, Anambra State. Data for the study were collected from a representative sample of one hundred (100) SMEs entrepreneurs in the area. A systematic sampling technique would be used to select the respondents. The result of the analyses showed that economic depression impairs the growth of SMEs in Awka South Local Government Area, Anambra State. There should be adequate provision of infrastructures, government should give special consideration to SMEs by patronizing SMEs output, government should attract international financial institutions towards the growth and development of small scale industries in Awka South and Nigeria at large etc.

JEL: L20; L23; L53

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Keywords


economic depression, SMEs, entrepreneurs, economic growth

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DOI: http://dx.doi.org/10.46827/ejhrms.v5i2.1042

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