SMEs definition depends mainly on the level of development of the country. In most developed market economies like the United States of America, UK and Canada, the definition criterion adopted a mixture of annual turnover and employment levels. SMEs exist in the form of sole proprietorship and partnership, though some could be registered as limited liability companies and characterized by ; simple management structure, informal employer/ In Nigeria, the small and medium industries Enterprises investment scheme (SMIEIS) defines SMEs as any enterprise with a maximum asset base of N200 million excluding land and working capital and with a number of staff employed not less than 10 or more than 300 .The federal ministry of commerce defines SMEs as firms with a total investment (excluding cost of land but including capital) of up to N750,000, and paid employment of up to fifty persons, Employee relationship, labour intensive operation, simple technology, fusion of ownership and management and limited access to capital.
Format: Microsoft Word
This material content is developed to serve as a GUIDE for students to conduct academic research