<abstract xmlns="http://www.w3.org/1999/xhtml"><p>Small and medium enterprises (SMEs) have been considered as one of the engines of economic growth, sustainability, and industrial development of a nation, however, the survival rate of SMEs in Nigeria has been seriously affected by the volatile environment in which they operate. The use of survival strategies has also been one of the major challenges facing the business since most people believe that strategies are only meant for large and multinational companies. This study, therefore, examines the survival strategies and sustainability of small and medium enterprises in a volatile business environment using a quantitative approach. The data were administered through a questionnaire to 350 respondents from small and medium enterprises in Lagos State, Nigeria. The questionnaire was analyzed with the use of the Structural Equation Model. The results reveal that there is a significant and positive relationship between survival strategies and sustainability of small and medium scale enterprises in Nigeria.</p></abstract>

Small and medium enterprises (SMEs) have been considered as one of the engines of economic growth, sustainability, and industrial development of a nation, however, the survival rate of SMEs in Nigeria has been seriously affected by the volatile environment in which they operate. The use of survival strategies has also been one of the major challenges facing the business since most people believe that strategies are only meant for large and multinational companies. This study, therefore, examines the survival strategies and sustainability of small and medium enterprises in a volatile business environment using a quantitative approach. The data were administered through a questionnaire to 350 respondents from small and medium enterprises in Lagos State, Nigeria. The questionnaire was analyzed with the use of the Structural Equation Model. The results reveal that there is a significant and positive relationship between survival strategies and sustainability of small and medium scale enterprises in Nigeria.

Survival Strategies and Sustainability of Small and Medium Enterprises in a Volatile Environment

Management Dynamics in the Knowledge Economy

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Small and medium enterprises (SMEs) have been considered as one of the engines of economic growth, sustainability, and industrial development of a nation,...

Survival Strategies and Sustainability of Small and Medium Enterprises in a Volatile Environment

Published Online: Mar 31, 2020

Page range: 553 - 569

Received: Sep 21, 2019

Accepted: Dec 17, 2019

DOI: https://doi.org/10.25019/mdke/7.4.07

Keywords
survival strategy, sustainability, small and medium enterprises, volatile business environment

© 2019 Sunday Abayomi Adebisi et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Survival Strategies and Sustainability of Small and Medium Enterprises in a Volatile Environment

Published Online: Mar 31, 2020

Page range: 553 - 569

Received: Sep 21, 2019

Accepted: Dec 17, 2019

DOI: https://doi.org/10.25019/mdke/7.4.07

Keywordssurvival strategy, sustainability, small and medium enterprises, volatile business environment

© 2019 Sunday Abayomi Adebisi et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Keywords
survival strategy, sustainability, small and medium enterprises, volatile business environment