EFFECT OF ENTREPRENEURSHIP ON THE GROWTH OF SMALL AND MEDIUM SCALE ENTERPRISES IN ENUGU METROPOLIS.

Abstract

This study is on the effect of entrepreneurship on the growth of small and medium scale enterprises in Enugu metropolis. The objectives of the study are to assess the effect of planning on the output of SMEs and to evaluate the effect of growth on the empowerment of SMEs in Enugu State. The study employed descriptive survey design. The population of the study consists of the owners and senior staff of the selected SMEs in Enugu metropolis with the total population of three hundred and sixtyfour (364). The study made use of the whole population as its sample size due to small number. Data from the questionnaire were administered and analyzed using simple percentages, mean and standard deviation, and the research hypotheses were tested using Z – test. The findings of the study revealed that planning had significant positive effect on the output of SMEs in Enugu state, Z (95, n = 319), 7.517 < 8.636, P. <. 05. And that growth had significant positive effect on the empowerment of SMEs in Enugu State, Z (95, n = 319), 6.565< 7.559, P. <. 05. The study concludes that the observation and utilization of novel opportunities in the business domain are the fundamental components of entrepreneurship. It always involves diverting national resources from their customary usage and putting them in novel combinations, resulting in an alternative method of using them. It was recommended among other things that for long-term survival of a business, acquire assets, attract new talent, fund investments and drives business performance the management of the small medium enterprises should work hard for growth.