Small and Medium Enterprises as Catalysts for Reducing Unemployment in Nigeria

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@article{1706894,
      author = {Oluyemisi Obe},
      title = {Small and Medium Enterprises as Catalysts for Reducing Unemployment in Nigeria},
      journal = {Iconic Research And Engineering Journals},
      year = {2025},
      volume = {8},
      number = {7},
      pages = {132-143},
      issn = {2456-8880},
      url = {https://www.irejournals.com/formatedpaper/1706894.pdf},
      abstract = {Small and Medium Enterprises (SMEs) are crucial in combating unemployment and addressing the pervasive socio-economic challenges faced by Nigeria. This article looks into the transformative potential of SMEs as dynamic catalysts for job creation, poverty alleviation, and sustainable economic growth, with a particular emphasis on innovative strategies and visionary leadership in overcoming structural barriers. Through a comprehensive and in-depth analysis of persistent challenges, including limited access to financing, burdensome regulatory constraints, and inadequate infrastructure, the study identifies practical and actionable solutions that can significantly enhance SME contributions to employment generation and economic resilience. Furthermore, the paper emphasizes the pivotal role of innovation-driven approaches in SME operations, spotlighting areas such as workforce skill development, the integration of advanced technologies, and strategic capacity building to ensure competitiveness and scalability. Detailed case studies, including PZ Wilmar?s trailblazing leadership in the food processing sector and FarmCrowdy?s impactful use of agricultural technology to boost employment, provide compelling evidence of SMEs? ability to thrive and drive meaningful change. These companies noteworthy achievements in revolutionizing local food processing methods, while simultaneously creating extensive employment opportunities along the value chain, serve as a practical and inspiring model for promoting sustainable development and fast growth within the SME sector.},
      keywords = {SMEs, Unemployment, Innovation, Job Creation, Economic Growth, Nigeria, Food Processing, FarmCrowdy, PZ Wilmar, Policy Recommendations, Infrastructure Development.},
      month = {January},
  }