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INTERNATIONAL JOURNAL OF BUSINESS EDUCATION AND MANAGEMENT STUDIES

International Journal of Business Education and Management Studies (IJBEMS)

Current Issue

EMBRACING TECHNICALEDUCATIONIN GROWING SMALL AND MEDIUM ENTERPRISES(SMEs) AND THE PROSPECTS FORNIGERIANECONOMY

IJBEMS  ·  Vol 12 Issue 1 2023  ·  2023-12-05
Publication Details
Author(s)
Albert Ochuko ADEHOR, Edwin IDIODE
Article Type
Research Article
Issue
Vol 12 Issue 1 2023
Volume
12
Number
1
Pages
39-47
Publication Date
2023-12-05
Abstract
This paper took a critical look at the benefit of embracing Technical Education in growing Small and Medium Enterprises (SMEs) in Nigeria and the major focus of this work was to delve more on the practice of technical education on the growthand prospects of SMEs on the Nigerian Economy. While attempting to give a perfect definition of Small and Medium Enterprises using employment strength and asset base criteria, the work revealed that embracing technical education in growing SMEs, contribute significantly to the growth and development of the economy in the provisionof goods and services, technical skills, creation of employment and the contribution of a quality and high standard of living. Some of the merits from this practice have increased financial capacity of citizens, and immediate action plan in dealing with eventualities, technical and managerial skills. The study shows that technical education is regarded a catalyst in most developing economies and that it is very crucial to the growth and developmentof the Country, Nigeria. As such, it was recommended that government policies should support the embrace of technical education in growing SMEs by opening and giving more training opportunity of young entrepreneurs, establishment of technical acquisition Centers for Small and Medium Entrepreneurial Development and promoting entrepreneurial spirits. There should also be deliberate funding of empowerment programmes across the Country, for the purpose of growing the Economy and her Citizens. This will facilitate the training and retraining of entrepreneurs with technical knowhow in setting small and medium enterprises and also help Nigerian youths to develop interest in entrepreneurship. This article shares practical steps and tools that Small and Medium Enterprises (SMEs) can adopt to improve operational efficiency and drive sustainable growth.
Keywords
Technical Education Enterprises adopting technical