E3 Journal of Business Management and Economics
E3 Journal of Business Management and Economics Vol. 3 (7) pp. 266-274, July 2012; © E3 Journals; ISSN 2141-7482
Strategies for re-positioning small and medium scale enterprises in Nigeria for global competitiveness
Christopher Ehinomen1 * , Adepoju Adeleke11 Department of Economics and Business Studies Redeemer’s university, Redemption City, Mowe, Ogun State, Nigeria
*Corresponding Author E-mail: chris_ehinomen@yahoo.com
Accepted 2 June 2012
Abstract
International trade liberalization and the general globalization of the world economy over the past two decades have meant that all countries have to focus attention on ensuring that their industries are globally competitive. In order to derive maximum benefits from the changing world economics order for now, Nigeria is yet to derive maximum benefits from the globalization of the world economy and international trade liberalization, due largely to mirage of problems confronting her industries especially the small and medium scale enterprises (SMEs) sector of the economy. These problems are constraining the sector from being effective not only in the domestic market but also at the international. This paper calls for re-positioning of Nigeria SMEs for global competitiveness. The options and strategies for re-positioning the sector are the main focus of the paper.
Keywords: Trade; World economy; SMEs
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