Abstract:

Small and medium sized businesses (SMSBs) share certain attributes such as forms of business, centralisation of decision-making and use of labour-intensive production method. In spite of these common characteristics, they have dissimilar business priorities.  With these thoughts in mind, it was considered intellectually-stimulating to examine the factors that interplay in setting the business priorities of SMSBs in Nigeria; this was the focus of the research. Using a quantitative survey research design, data was obtained from SMSB entrepreneurs in South-west Nigeria. Statistics such as Mean, T-test, correlation, regression and Kruskal Wallis tests were utilized for data analyses. Empirical findings were that size, resource availability, stage of organisational cycle, and challenges faced influence priority setting and ordering by SMSBs. Relevant stakeholders are encouraged to intensify efforts to address challenges facing SMSB, as benefits arising from their reinvigoration are expected to positively rub off on sustainable development in Nigeria.