SMEs AS THE CRUCIAL TOOLS NEEDED FOR THE GROWTH AND DEVELOPMENT OF OGUN STATE ECONOMY

ABSTRACT

This research work examined the roles of SMEs in the economic growth and development of Ogun State.  The research work was undertaken to find out  the reasons why SMEs in Ogun State has failed to performed its critical role of driving the State’s industrial transformation and development and also to identity the reasons  behind the  failure of most government programs and  polices e.g. Small and Medium Industries Equity Investment Scheme (SMIEIS) thus, identify remedial measures. Questionnaires were used to collect data from the Ministry of   Commerce   and   Industry   of   Ogun   State   and   were   analyzed   with   the   use   of   Simple Percentage  (%).  Hence,  the   findings  showed  that  promoters  of  SMEs  should  ensure  the availability  or  possession  of  managerial   capacity  and  acumen   before  pursuing  financial resources for the development of the respective enterprise. Also, the government of Ogun State and other stakeholders should endeavour to understand the nature, problems and needs of SMEs before enunciating policies for the sub-sector and also should change the way and manner they manage affairs relating to SMEs through effective and efficient introduction and implementation of the recommended measures aim at promoting the growth and performance of SMEs in Ogun State.