Operations of small and medium enterprises and the legal system in Nigeria
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Date
2020-09
Journal Title
Journal ISSN
Volume Title
Publisher
Nature: Humanities and Social Sciences Communications
Abstract
This research explored the effects of the legal system on SMEs operations in the Nigerian
economy. The study aimed to address the gap in literature discussing the legal system and
SMEs’ operations in Nigeria. It focused on learning about the current level of support of the
legal system for SME operations and as well as suggesting an approach to enhance effective
SMEs’ operations in Nigeria further. The current study applied a conceptual review, relying on
extant literature relating to the antecedence of the Nigeria legal system, focusing on the
critical factors affecting SME practices in Nigeria. A key finding is the importance of the legal
system functions to SMEs practice in Nigeria. It also highlighted the weaknesses of the legal
system in providing the needed backing and conducive business environment for SMEs in
Nigeria. A model was proposed, depicting the need for restructuring of the legal system,
improvised support of other government functionaries and other relevant stakeholders, to
facilitate SMEs’ operations and enhance their contributions to the Nigerian economy. The
research ends with the suggestion for further research to consider other research methodological
approaches, the development of alternative dispute revolutionary measures, as well
as a comparative study involving two or more economies in order to project further learning
on the legal system and SMEs’ operations.
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Citation
Ufua, D.E., Olujobi, O.J., Ogbari, M.E. et al. Operations of small and medium enterprises and the legal system in Nigeria. Humanit Soc Sci Commun 7, 94 (2020). https://doi.org/10.1057/s41599-020-00583-y