Does Skill Development and Training Support Facilitate the Performance of SMEs? (A Study of Entrepreneurs under SMEDAN, Nigeria)

Abstract :

Human capital is considered a major asset of any business. This is even more vital in a knowledge-driven economy, where non-visible factors and services are of increasingly significant. The rapid pace of knowledge obsolesce is a major component of the knowledge economy. This study explored the impact of training support programmes on the performance of SMEs across three states in Nigeria. Mixed methods approach was adopted using the survey and semi-structured interview methods. A total of 400 copies of questionnaire were administered to SME operators, out of which only three hundred and sixty (360) were retrieved and adjudged usable for the analysis while 20 interviews were conducted on SME operators. Multiple Regression was used for the analysis of the returned copies of questionnaire. Thematic analysis was also used to analyze the qualitative interviews. The results showed training support has significant impact on performance of SMEs. However, the findings of the qualitative analysis revealed important gaps. Based on these findings, training assistance should be performed by experts who have both commercial and technical expertise particularly in the area of ICT deployment.