An Appraisal of Economic and Technological Factors on the Performance of Small Scale Business in Ondo State

Vol – 2 | Issue – 1 | Jan – 2024

Abstract: The study appraised the effect of economic and technological factors on the performance of small-scale businesses at Oda, Ondo State. Primary data were collected using questionnaire methods from the sampled SMEs. The data was analyzed using Simple percentage and Chi-Square (X2) and Regression Techniques. The findings of this study clearly show that political and social-cultural factors have significant impact on SMEs performance in Ondo state with the result of hypotheses shown that there were significant positive effect of  political and socio-cultural factors through monetary and fiscal policies on the existence of small scale business in Ondo state as the situation was showed through t-statistic and p-value (P= 0.022<0.05) on coefficient value (t=2.098>2.00) and F-stat value 7.617= p(0.034) that showed the robustness of the model with significant differences on the impact of  economic factor through government measurement and control from how it was before the inception of this government tenure in Ondo state.. The study concludes that environmental factors have impact on performance of SMEs in Niger state. The study recommends that Owners and managers SMEs should strategically engage in constant monitoring and conducting of environmental scanning in terms of proper analysis of strengths, weaknesses, opportunities and threats so as to continually determine the healthy or unhealthy position of their businesses.

Keywords: Environment, Performance, Employees, SME, Ondo State.

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