SMEs sustainable prediction model: A three sector comparative study
SMEs sustainable prediction model: A three sector comparative study
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Date
2021
Authors
Gyimah, Prince
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Publisher
Routledge
Abstract
This article examines the critical sustainable factors of micro-,
small, and medium-sized enterprises (MSMEs) across the three
sectors in Nigeria. We apply ordered logistic regression to esti mate the success factors of manufacturing, retail services, and
trade businesses in a developing country where three out of
every five MSMEs are estimated to fail within five years of opera tion. Using a global validated prediction model, we find that the
most critical sustainable factors among these sectors are capital,
planning, and marketing skills. We conclude that entrepreneurs in
the three sectors we examined need to start with adequate
capital, have a specific plan, and have the ability and skills to
market their products or services to increase their chances of
success. MSMEs need to pay critical attention to these sustainable
success factors to enhance their ability to grow, multiply, and
replicate and also contribute to the attainment of the United
Nations’ Sustainable Development Goals 1, 2, 8, and 9
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Citation
Gyimah, P., & Adeola, O. (2021). MSMEs sustainable prediction model: A three-sector comparative study. Journal of the International Council for Small Business, 2(2), 90-100.