Advantage Of SME

In line with the foregoing, Panitchpakdi (2006) viewed SMEs as a source of employment, competition, economic dynamism, innovation, which stimulate the entrepreneurial spirit and the diffusion of skills. Because they enjoy a wider geographical presence than big companies, SMEs also contribute to better income distribution. Thus, over the last few decades, the contribution of the SME sector in the development of the largest economies in the world has beamed the searchlight on their uniqueness; and this has succeeded in overruling previously held views that SMEs were only “miniature versions” of larger companies.
Small and Medium Enterprises advocates, firstly; its endurance competition and entrepreneurship and hence have external benefits on

Some argue that SMEs expansion boosts employment more than large firm growth because SMEs are more labour intensive thereby subsidizing SMEs may represent a poverty alleviation tools, by promoting SMEs, individual countries and the international community at large can make progress towards the main goal of halving poverty level by 2020 i.e to reduce poverty by half and becoming among 20 largest World Economies (Nigeria Vision 20:2020).
Entrepreneurial development is therefore important in the Nigeria economy which is characterized by the following, heavy dependence on oil, low agricultural production, high unemployment, low utilization of industrial capacity, high inflation rate, and lack of industrial infrastructural base. These constraints limit the rate of growth of entrepreneurial activities in

Other benefits of what vibrant SMEs include, development of infrastructural facilities brought about by the existence of such SMEs in their locality; the encouragement of economic activities such as suppliers of various items; distributive trades for items produced and or needed by the SMEs, rural urban migration; enrichment of standard of living of the workers of SMEs and their dependents as well as the SMEs owner. Small scale enterprises are also in a better position to encourage the usage of local raw materials, also facilitate the growth of non-oil