TECHNIQUES FOR ASSESSING DURABILITY OF SMALL SCALE BUSINESS OPPORTUNITIES IN NIGERIA
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ABSTRACT
This research identified the techniques for assessing durability of small scale business opportunities in Nigeria. The study applied both quantitative and qualitative research methodology to identify the techniques for assessing the growth of 200 small businesses in Lagos. This was done by (1) identifying the mean characteristics of small businesses that had experienced their first disruption to growth after establishment, (2) identifying the dominant reasons for the growth challenges, (3) identifying the tools and/or actions employed to transgress the first challenge to growth and The most common mitigation tools and/or actions were to hire more staff, hire competent professional management, source external professional assistance in the form of a mentor and restructure reporting lines. This research found that the focus of small business development should focus on these types of businesses because of their propensity to grow faster and employ more staff. This study also emphasised the growth aspirations of the owner/ manager. Lastly a management model for small businesses was presented.
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