An Assessment of Sustainable Business Strategies and Profitability: A Case Study of SMEs in Gombe State
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- NGN 5000
Background of the Study
Sustainable business strategies focus on balancing economic growth, environmental preservation, and social well-being. For small and medium-sized enterprises (SMEs), adopting sustainable practices can enhance brand reputation, reduce costs, and improve profitability (Adewale & Yusuf, 2024).
In Gombe State, SMEs play a crucial role in the local economy by providing employment and driving economic activities. However, many SMEs face challenges such as limited access to resources, market competition, and environmental concerns. Sustainable strategies, including waste reduction, renewable energy adoption, and social responsibility initiatives, have the potential to address these issues while enhancing profitability (Okoro & Hassan, 2023).
This study examines the relationship between sustainable business strategies and profitability among SMEs in Gombe State, highlighting effective practices and their outcomes.
Statement of the Problem
SMEs in Gombe State often struggle to balance short-term financial goals with long-term sustainability. Many businesses lack awareness or resources to implement sustainable practices, which can limit their profitability and growth potential (Bello & Yakubu, 2025).
This study addresses the gap in understanding the impact of sustainable strategies on profitability among SMEs in Gombe State, aiming to provide insights for improved practices.
Objectives of the Study
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To identify sustainable business strategies adopted by SMEs in Gombe State.
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To assess the impact of these strategies on profitability.
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To recommend ways to enhance the adoption of sustainable practices among SMEs.
Research Questions
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What sustainable business strategies are employed by SMEs in Gombe State?
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How do sustainable strategies influence the profitability of SMEs?
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What measures can improve the adoption of sustainable business strategies?
Research Hypotheses
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Sustainable business strategies significantly enhance SME profitability.
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Limited access to resources hinders the adoption of sustainable practices.
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Effective sustainable strategies improve cost-efficiency and market competitiveness.
Scope and Limitations of the Study
This study focuses on SMEs in Gombe State, analyzing their sustainable practices and profitability. Limitations include variability in industry types and external economic conditions.
Definitions of Terms
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Sustainable Business Strategies: Practices that balance economic, environmental, and social goals to achieve long-term success.
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Profitability: The financial gains a business achieves after accounting for costs.
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SMEs: Small and medium-sized enterprises, typically characterized by limited resources and workforce.
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