Agencies for Entrepreneurship Development and SMEs’ Promotion in Nigeria

Abstract

Many Researchers have written on the SMEs and Entrepreneurship in the past but failed to distinguish clearly the difference between the two concepts, thereby leaving a gap in literature. This study attempts to bridge his gap. The study identified the difference between entrepreneurship and Small/Medium Enterprises (SMEs), clarified the erroneous practice of using both words interchangeably by Researchers/Practitioners, categorized the supporting agencies and climaxes their contributions and limitations with suggestions for future considerations. In examining their contributions, a sample population of 1200 stakeholders was purposely selected in the state of Osun, Nigeria. Overall findings revealed that Agencies’ impacts have been minimal due to the high rate of corruption, bureaucracy and inability to separate entrepreneurial SMEs from non-entrepreneurial SMEs, These Agencies fall within the intermediate environment of businesses, categorized as participatory, facilitating & regulatory and are public sectors dominated with low entrepreneurship orientation. The study averred that Agencies/government officials should be more entrepreneurial by promoting auxiliary marketing systems for SMEs. It is suggested that having business-minded and entrepreneurial politicians/ leaders would promote SMEs and entrepreneurship in Nigeria.