ASSESSMENT OF ENVIRONMENTAL FACTORS ON THE PERFORMANCE OF SMALL BUSINESS ENTERPRISES
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ASSESSMENT OF ENVIRONMENTAL FACTORS ON THE PERFORMANCE OF SMALL BUSINESS ENTERPRISES
ABSTRACT
This empirical study on Jemok table water in Delta state investigated the impact of environmental parameters on the performance of small businesses. The goal is to examine the impact of environmental variables on small businesses and provide solutions to problems caused by environmental factors.
The goals of this study were to look at the environmental elements that impact Jemok table water Delta state and to see how much they affect it. The study’s scope is Jemok table water in 2019, using senior and junior staff workers using contingency management theory as a framework.
The research strategy employed for this study is a survey, and the population targeted for this study is all of the employees of Jemok table water, which totals 50 people. The sample size was 44 workers, and a cluster sampling technique was used.
This study’s instrument is a questionnaire. Data were acquired from original sources. According to the data study, environmental factors such as infrastructure and tax policy have a significant impact on the survival of small businesses in Nigeria.
Following the findings, it was advised that the government offer infrastructural facilities and grant tax breaks to small business enterprises, and that small businesses consider environmental considerations while making management decisions and strategizing. The study shows that environmental factors have a significant impact on the survival of small business enterprises.
Chapter one
INTRODUCTION
1.1. Background for the Study
Without a question, small businesses are the driving force behind economic growth, poverty alleviation, job creation, and crime reduction. They make up a huge percentage of enterprises worldwide and play an important part in any economy.
Small businesses face a variety of challenges, including environmental issues that threaten their long-term viability. According to available data, the failure rate of small-scale businesses in developing countries is higher than in the industrialised world.
A company’s capacity to meet its key performance indicators in a sustainable manner is critical to achieving its goals (Simerly and Mingfanf, 2000; Wan and Yiu, 2009). The business environment is extremely important to the success or failure of a business.
According to Dionco-Adetayo and Adetayo (2003), an unstable environment cannot support a thriving business. Because company uses resources from its surroundings and returns them to it (Oluremi and Gbenga, 2011).
Environmental influences can have a good or negative impact on small business operations. According to Ukaegbu (2004), the contemporary environment is growing more dynamic and competitive
And because small businesses do not operate in a vacuum, they both influence and are influenced by environmental conditions. Thus, economic operations must evaluate both environmental opportunities and limits.
Despite their important position, significance, and contribution to the national economy, small businesses continue to face numerous challenges. They face major obstacles that jeopardise their ability to function and contribute effectively to the economy.
Administrative/legal considerations, socio-cultural factors, political factors, economic factors, business entity size, organisational features, and commitment are all significant influences on the growth of small businesses.
In Nigeria, small businesses account for approximately 90% of the industrial sector, 70% of national industrial employment, and 10% of manufacturing production (Ajayi, 2002).
According to Anwatu (2006), small and medium-sized firms account for 75% of Nigeria’s private sector. Developing the private sector is a driver of growth, wealth generation, and employment in Nigeria.
Small business enterprises in Nigeria perform below expectations (Basil, 2005; Abiodun, 2011). This may be due to environmental variables. According to Adeoye (2012), in order for businesses to deal with the changing character of the environment, appropriate strategies must be developed and implemented to ensure their continued functioning. Thus, the purpose of this study is to analyse the impact of environmental factors on the performance of small business firms in Nigeria.
1.2. Statement of the Research Problem
The survival of small businesses is regarded as critical in any economy for addressing issues such as poverty, unemployment, and crime while maintaining economic growth. Small firms are underperforming in terms of economic growth, job creation, and poverty alleviation, making it harder for them to achieve their targeted goals.
Most businesses fail to consider environmental elements that affect their chances of long-term survival, resulting in a gradual reduction in their capabilities.
Environmental problems such as poor infrastructure, insecurity, poor policy execution, high tax rates, structural change, and others exist in Nigeria, affecting the success of small businesses.
The capacity of Jemok table water factory Delta state to establish and maintain a competitive edge is dependent on the availability of appropriate techniques for preserving its operations.
Against this context, the researcher considered the impact of environmental factors on the performance of small businesses: a study of Jemok table water in Delta state.
1.3. The Objectives of the Study
The purpose of this study was to analyse the impact of environmental conditions on the performance of small businesses: a case study of Jemok table water in Delta state. Specific aims are to:
Examine the environmental elements that influence the Jemok table water Delta status.
Investigate the extent to which environmental factors influence the Jemok table water Delta condition.
1.4. Research Questions.
This study will be led by the following research questions.
What environmental factors influence Jemok table water Delta state?
To what extent do environmental factors influence the Jemok table water Delta state?
1.5. Significance of the Study
The importance of small businesses to the success or growth of any country is highlighted. This is because environmental factors influence a small business’s capacity to achieve its aims.
This relates to the manufacturing industry in general, and Jemok table water in particular. Environmental factors affect productivity levels, preventing small businesses from achieving such big goals in an economy.
This empirical study is being conducted to assess the environmental elements that influence the performance of Jemok table water in order to help the company overcome its poor production problem.
This research will be significant for Jemok table water since it will help guide the management of Jemok table water in terms of how it can operate. It will educate it the significance of environmental aspects and the fundamental guidelines for planning in a commercial setting. It will also assist management in extracting the maximum value from the firm.
This study will be extremely valuable to investors, the government, and researchers since it will provide policy suggestions to various Nigeria stakeholders for taking appropriate actions in the manufacturing industry to increase capacity investment.
The exploration of Jemok table water is expected to offer investors and the government with a comprehensive understanding of water producing activities. It will contribute to the current literature on the subject by conducting empirical research into the influence that environmental factors play in the country’s small business companies. This study will be beneficial to:
Members of the academic community will find the study useful because it will serve as a foundation for future research and a reference tool for academic work.
Government: This study will expose to the government what happens in small-scale company operations. Formulating and implementing policies based on these findings would secure the area’s development.
Investors: This study will also benefit investors, particularly those with a research interest, as it will drive their private investment selections.
At the completion of this study, the company’s management will be more informed about the implications of environmental issues.
1.6. The scope of the study
This study aims to evaluate the environmental elements that influence the performance of small businesses: a study of Jemok table water in Delta state in 2019 with senior and junior staff members. Jemok table water is located at kilometre 8 of the Asaba-Benin express road, Benin Onitsha motorway, Oshimili South, Delta, Nigeria.
1.7. Operational Definitions of Terms
The terms listed below have been defined operationally.
Small business venture is defined as an enterprise with a small number of employees and a limited flow of funds and supplies. This implied the finances and resources for Jemok table water.
Business performance refers to an organization’s efficiency and effectiveness as expressed in its management objectives. It includes the various prizes received by Jemok table water.
Business environmental factors refer to any external forces that affect an organisation and its activities (Kotler and Armstrong, 2004).
1.8 Organisation of the Study
The study is organised into five chapters. The first chapter is an introduction, which includes the study’s history, statement of problem, research questions, research hypotheses, study objectives, the study’s importance, scope and constraints, and lastly the study’s organisation.
The second chapter is a survey of the literature, which includes conceptual, theoretical, and empirical material, as well as the theoretical framework.
The third chapter discusses research methodology, which includes research design, study population, sample size, sampling strategy, data collection method, data analysis instrument, data analysis method, and instrument validity/reliability.
The fourth chapter presents and analyses data, as well as discusses the findings. Chapter five includes a summary, conclusion, and recommendations.
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