An Evaluation of the Awareness of Sustainability Reporting Among SMEs in Nigeria: A Case Study of SMEs in Rivers State
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Background of the Study
Sustainability reporting refers to the disclosure of an organization’s economic, environmental, and social impacts. It has become increasingly important for businesses worldwide, as stakeholders—including investors, customers, and regulatory bodies—demand more transparency on sustainability practices (Adeyemi & Johnson, 2023). In Rivers State, SMEs are faced with both local and global expectations to adopt sustainability reporting practices as part of their corporate governance.
However, the awareness and adoption of sustainability reporting remain low among SMEs in Rivers State. The lack of knowledge about the benefits of sustainability reporting, combined with limited regulatory enforcement, has contributed to this gap. This study seeks to evaluate the awareness and current level of sustainability reporting among SMEs in Rivers State and to explore the factors that influence their adoption of these practices (Olumide & Chika, 2024).
Statement of the Problem
Although sustainability reporting is critical for businesses aiming to improve their environmental and social impact, SMEs in Rivers State are generally unaware of its significance. This lack of awareness undermines the potential for SMEs to benefit from sustainability practices, affecting their competitiveness and access to funding. This study will explore the current level of awareness and the barriers preventing SMEs from adopting sustainability reporting.
Objectives of the Study
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To evaluate the level of awareness of sustainability reporting among SMEs in Rivers State.
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To identify the factors influencing the adoption of sustainability reporting practices among SMEs.
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To propose strategies to enhance awareness and adoption of sustainability reporting among SMEs in Rivers State.
Research Questions
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What is the level of awareness of sustainability reporting among SMEs in Rivers State?
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What factors influence the adoption of sustainability reporting among SMEs?
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What strategies can increase the adoption of sustainability reporting among SMEs in Rivers State?
Research Hypotheses
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H₀: There is no significant level of awareness of sustainability reporting among SMEs in Rivers State.
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H₀: Factors such as cost, lack of expertise, and regulatory frameworks do not significantly influence the adoption of sustainability reporting among SMEs.
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H₀: Strategies to improve awareness do not significantly enhance the adoption of sustainability reporting among SMEs.
Scope and Limitations of the Study
This study focuses on SMEs in Rivers State and examines their awareness and adoption of sustainability reporting practices. It excludes SMEs from other states and industries. Limitations include the subjective nature of self-reported data and the challenge of accurately measuring the impact of sustainability reporting.
Definitions of Terms
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Sustainability Reporting: The practice of disclosing a company’s environmental, social, and governance impacts in a transparent manner.
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SME Awareness: The degree to which small and medium-sized enterprises are informed about a particular practice or concept.
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Rivers State: A state in southern Nigeria with a significant concentration of SMEs and industrial activities.
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