DOI: 10.36347/sjebm.2016.v03i01.005

Pages: 28-43

Small and medium enterprises (SMEs) perform an important financial responsibility, considerably in emerging economies. SME is the single biggest participator to job and employment creation, and they consider a considerable part of GDP in this world. However, lack of access to finance keeps the most entrenched barrier to growth of organizations. SMEs are normally very small to attract commercial investor or bank interest and very large to been fit from microfinance products. At present, some solutions to encourage this “missing middle” of businesses have been capable to fill the funding gap in a globally scalable approach. The purpose of this research is to observe the challenges facing small-scale businesses in Nigeria and make recommendations that will support in solving some of these issues and increase the contribution of small Nigerian companies in the global context. This research also defines opportunities for profitability and growth in the global context for these companies. Considering the difficulties and challenges encountered through SMEs in Nigeria will be essential if Nigerian government is to come up with strategies, which will evade their small businesses from being swept away by fast modifications taking position in the current global financial system. This research aimed to explore the challenges for SMEs in emerging economies: A case study of Nigeria.