Performance of Small and Medium Enterprises: Evidence from Nigerian Business Environment

Abstract

There is growing body of evidence supporting the relationship between planning practices and perceived benefits in organizations. Most of  the studies carried out have been limited only to large enterprises in developed economies. There is, however some fewer empirical work that has examined the relationship between planning and organizational performance in under-developed countries. To fill this gap, this study examined the relationship between formal planning and business performance having taken a sample of manufacturing SMEs in Nigeria. Data and relevant information elicited from selected respondents in SMEs were analyzed. Results of the analysis revealed that there exists a significant relationship between planning and performance of SMEs. The findings of the study provided some insight to fill the research gap and contribute to the literature which can be useful to owners and managers of SMEs.