By Bayo A. Komolafe, STN Group
Nigerian Tribune
January 12, 2010

Small firms are the backbone of the Nigerian economy. The government must put concrete steps in place to ensure that they grow and prosper. Nigeria’s Small and Medium Enterprises (SMEs), an umbrella term for firms with less than 250 employees, had faced critical survival challenges some years back and are yet to overcome these old obstacles. In a study conducted in 2002, 32 small firms were asked to pinpoint the main constraints on their firm’s growth and overall performance.

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