Abstract: This study explores factors that influence SME growth in Nigeria, the study focuses on three broad growth influences namely: the characteristics of owners/managers, firm and external environmental influences. The objective of this study is timely; first, there are linked benefits of entrepreneurship as a vehicle for economic development achieved through employment creation, resource mobilisation and successful innovation. Second, despite the burgeoning volume of research available on SME’s in developed countries, very little is available on SME’s in African countries and even less in Nigeria. This creates a gap in our knowledge of these enterprises in developing countries, a large number of questions thus remain unanswered regarding SME’s in developing countries. The study utilises a mixed method approach involving the use of questionnaires and semi-structured interviews with 523 SME owners/managers in Nigeria. The findings indicate that firm growth is influenced by a combination of owner/manager, firm characteristics and external factors.
Keywords: SME’s; small firms; entrepreneurship; Nigeria; SME growth; external factors; owner/manager characteristic; firm characteristics.
