VOL. 3, NO 2 (2018)

SMALL AND MEDIUM ENTERPRISES (SMES) AND ECONOMIC DEVELOPMENT: THE NIGERIAN PERSPECTIVE

Introduction

Economic development occurs when there is an increase in the value of goods and services produced by an economy as may be reflected in the percentage rate of increase in the Gross Domestic Product (GDP) of such a country (Organization for European Cooperation & Development (OECD), 2004; Oyelola, Ajibosun, Raimi, Raheem & Igwe, 2013). This assertion having been accepted as a truism, the argument that has been raging is whether the path to economic growth and development lies with SMEs or large-sized firms.

...