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ABSTRACT
The significance of small and medium enterprises (SMEs) towards economic development, income generation, poverty reduction, and particularly employment opportunities in developing nations like Nigeria is universally recognized. In Nigeria, it accounts for 96% of businesses, 84% of employment and over 40% of national GDP. However, the small-scale business sector is exposed to a lot of risks and dilemmas with the potential possibility of affecting their growth and operations. It is no news that a lot of small businesses in Nigeria die before their third year of existence. This has driven smallscale business owners to adopt strategies and techniques to maximize their organization's resources, tackle the threats posed by the external environment and also, maximize profit to survive in the Nigerian business ecosystem.
