Role and Contribution of Small and Medium Scale Business on Socio Economic Development in Damaturu Yobe State

Lawan Garba¹ , R.I. Darazo² , Lawan Yahaya³

Section:Research Paper, Product Type: Journal-Paper
Vol.12 , Issue.3 , pp.18-26, Sep-2024

Online published on Sep 30, 2024

Copyright © Lawan Garba, R.I. Darazo, Lawan Yahaya . 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 goal of the study is to evaluate how small and medium-sized businesses affect the socioeconomic development of Damaturu, Yobe State. Additionally, the purpose of the study is to determine the contribution of small and medium-sized businesses to socioeconomic development in Damaturu, Yobe State, as well as to evaluate how well these businesses are performing in this regard. The investigation was guided by both classical and current notions. The research design used in the study was descriptive. The SMEs in Damaturu are the research`s target population. A questionnaire was employed in the study as a data gathering tool. Using a straightforward random sampling method, eighty (80) SMEs were chosen from this population pool. The data are examined using the table and percentages way of presentation analysis, and the researcher uses the statistical tool chi-square to examine and assess the study`s hypothesis. The study found that small and medium-sized business performance and socioeconomic development are significantly correlated, which is therefore acknowledged. It also found that small and medium-sized businesses specifically contribute to Yobe State`s socioeconomic development. The study makes several recommendations, including that the federal government should work harder to ensure that banks established to support the revival of the SME sector—like NIRSAL—are always operating as expected in order to achieve the desired outcome; business organizations, particularly SMEs, should work toward registering their companies; maintaining proper records and developing strong business plans are also necessary in order to be eligible for government grants and aid.

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

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