Economic Environment and Sustainability of Micro, Small and Medium Manufacturing Enterprises (MSMMEs) in Jigawa Central Senatorial District, Jigawa State, Nigeria
- July 9, 2019
- Posted by: RSIS
- Category: Social Science
International Journal of Research and Innovation in Social Science (IJRISS) | Volume III, Issue VI, June 2019 | ISSN 2454–6186
Isyaku Shehu1, Mabonga Eric (PhD)2, Kibuuka Muhammad (PhD)3, Ssendagi Muhamad (PhD)4
1Jigawa State College of Education, Jigawa Nigeria
2,3 Kampala International University, Uganda
4Muteesa | Royal University
Abstract: The study examined the effect of economic environment on the sustainability of micro, small and medium manufacturing enterprises (MSMMEs) in Jigawa central senatorial district, Jigawa State Nigeria. Specifically, the study examined the effect of economic environment on the sustainability of MSMEs in Jigawa central senatorial district Jigawa state, Nigeria. The design was descriptive cross-sectional survey and a researcher made questionnaire was used to collect data from the 350 managers/owners who were selected using stratified, purposive and simple random sampling techniques. Mean, standard deviation and Pearson Linear Regression were used to analyze data collected. The findings revealed a significance relationship between economic environment and sustainability of MSMMEs (adjusted R2 = 0.142, F = 55.567, p = 0.000, Beta = 0.380, and t-stat. 7.454), hence rejecting the null hypothesis. This led to the conclusion that MSME managers/owners have high potentials on economic and environmental sustainability because economic environment has a significant and positive effect on the sustainability of MSMEs. The researcher recommends that MSME managers/owners need to develop marketing strategies and intelligence systems to accumulate information about competitors and customer demand. Managers and owners need to clearly understand the economic environment by focusing keenly and responding to competitive forces in the market, take time to understand customers and to develop effective marketing intermediaries through which they can channel their products to final consumers.
Key words: Economic Environment, Sustainability, Micro, Small and Medium Manufacturing Enterprises.
I. INTRODUCTION
The economic environment of business refers to overall state of the country’s economy. It has significant impact on the business structure and profitability of individual firms [11]. Economic environment entails the character and direction of economic system within which the firms operate. According to [13], economic environment consist of all those economic factors which have a bearing on the functioning of a business unit.
