<abstract xmlns="http://www.w3.org/1999/xhtml"><p>The survival rate of Small and Medium Scale Enterprises (SMEs) have been found to be low despite all the effort made by the government to sustain their existence. This seems to be linked to the poor management of various risk factors confronting the operators of the sector in Nigeria. In view of this, the study is aimed at determining the influence of Enterprise Risk Management (ERM) practices on survival of SMEs in Lagos State. With the application of cross-sectional survey technique, a sample of 400 operators was selected among SMEs across Lagos State. Data which were generated through structured questionnaires were analysed using both descriptive and inferential statistical tools. Results indicate that ERM practices significantly influence the survival of SMEs in Lagos State. Based on the findings, it was recommended that SMEs owners should take ERM practices as a valuable business function that enhances survival. Also, government should continue to sensitise SMEs on the benefits of ERM and put in place mandatory ERM guidelines to compel SMEs to practice it.</p></abstract>

The survival rate of Small and Medium Scale Enterprises (SMEs) have been found to be low despite all the effort made by the government to sustain their existence. This seems to be linked to the poor management of various risk factors confronting the operators of the sector in Nigeria. In view of this, the study is aimed at determining the influence of Enterprise Risk Management (ERM) practices on survival of SMEs in Lagos State. With the application of cross-sectional survey technique, a sample of 400 operators was selected among SMEs across Lagos State. Data which were generated through structured questionnaires were analysed using both descriptive and inferential statistical tools. Results indicate that ERM practices significantly influence the survival of SMEs in Lagos State. Based on the findings, it was recommended that SMEs owners should take ERM practices as a valuable business function that enhances survival. Also, government should continue to sensitise SMEs on the benefits of ERM and put in place mandatory ERM guidelines to compel SMEs to practice it.

Enterprise Risk Management Practices and Survival of Small and Medium Scale Enterprises in Nigeria

Studies in Business and Economics

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

The survival rate of Small and Medium Scale Enterprises (SMEs) have been found to be low despite all the effort made by the government to sustain their...

Enterprise Risk Management Practices and Survival of Small and Medium Scale Enterprises in Nigeria

Data publikacji: 20 maj 2020

Zakres stron: 68 - 82

DOI: https://doi.org/10.2478/sbe-2020-0007

Słowa kluczowe
Enterprise risk management, small and medium scale enterprises, survival

© 2020 Ibiwoye Ade et al., published by Sciendo

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

Enterprise Risk Management Practices and Survival of Small and Medium Scale Enterprises in Nigeria

Data publikacji: 20 maj 2020

Zakres stron: 68 - 82

DOI: https://doi.org/10.2478/sbe-2020-0007

Słowa kluczoweEnterprise risk management, small and medium scale enterprises, survival

© 2020 Ibiwoye Ade et al., published by Sciendo

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

Słowa kluczowe
Enterprise risk management, small and medium scale enterprises, survival