Role and Performance of Small and Medium Scale Businesses on Socio Economic Development in Damaturu Yobe State

Lawan Garba¹ , Lawan Garba Mohammed² , Sirajo Ladan³ , Danladi Ibrahim Musa⁴ , Ibrahim Usman Saleh⁵ , Adamu Shuaibu Hassan⁶

1. Dept. of Accounting and Finance, Faculty of Management Sciences, Abubakar Tafawa Balewa University Bauchi, Nigeria.
2. Dept. of Business Administration, Faculty of Management Sciences, Yobe State University Damaturu, Nigeria.
3. Dept. of Accounting and Finance, Faculty of Management Sciences, Abubakar Tafawa Balewa University Bauchi, Nigeria Dept. of Banking and Finance, School of Management Studies, Federal Polytechnic Damaturu, Yobe State, Nigeria.
4. Dept. of Banking and Finance, School of Management Studies, Federal Polytechnic Damaturu, Yobe State, Nigeria.
5. Dept. of Business Education, School of Business studies, Umar Suleiman College of Education Gashua, Yobe State, Nigeria.

Section:Research Paper, Product Type: Journal-Paper
Vol.12 , Issue.1 , pp.9-17, Mar-2024

Online published on Mar 31, 2024

Copyright © Lawan Garba, Lawan Garba Mohammed, Sirajo Ladan, Danladi Ibrahim Musa, Ibrahim Usman Saleh, Adamu Shuaibu Hassan . This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
 

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Abstract :
The research aims to evaluate the impact and effectiveness of small and medium-sized enterprises (SMEs) on the socio-economic development of Damaturu, Yobe State. It investigates the performance of SMEs in this context and their contribution to socio-economic development. The study draws on both classical and modern theories as frameworks. Using a descriptive research design, it targets SMEs in Damaturu, employing a questionnaire for data collection. Through simple random sampling, 80 SMEs are selected from the population. Data analysis utilizes tables, percentages, and the chi-square statistical tool to test hypotheses. Results indicate a significant relationship between SME performance and socio-economic development. Additionally, the study identifies specific ways in which SMEs contribute to Yobe State`s socio-economic development. Recommendations include government agencies gathering comprehensive SME data, ensuring the effectiveness of support mechanisms like NIRSAL, and emphasizing business registration, record-keeping, and robust business planning among SMEs to attract governmental aid and grants.

Key-Words / Index Term :
Role, Performance, Small and Medium Scale, Businesses, Socio Economic Development

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