Effect of Performance Management Systems on Small and Medium Enterprises IN UYO, AKWA Ibom State, Nigeria
DOI:
https://doi.org/10.59413/ajocs/v6.i3.16Keywords:
Performance Management Systems, Small and Medium Enterprises, Poor Infrastructure, Limited Access to Financing, Inconsistent Policy SupportAbstract
This study examines the effect of performance management systems on small and medium enterprises in Uyo, Akwa Ibom State, Nigeria. The specific objectives include examining the effect of poor infrastructure on small and medium enterprises, the effect of limited access to financing on small and medium enterprises as well as examining the effect of inconsistent policy support on small and medium enterprises in Uyo, Nigeria. A cross-sectional survey of 361 respondents was selected from the 3725 registered small scale businesses in Uyo, Akwa Ibom State using judgmental sampling technique. Simple percentage and regression models were used to analyze the research questions and hypotheses. The results revealed negative effect of performance management systems on small and medium enterprises. Based on the findings, the study recommends that the government of Akwa Ibom State should establish industrial clusters with dedicated facilities for SMEs, including reliable power supply, good road networks, and access to essential utilities for growth and operational efficiency. Additionally, financial institutions should streamline their loan application procedures to make it easier for SMEs to access credit. Government should strengthen institutions such as the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to provide reliable support services, including advisory services, regulatory guidance, and advocacy for SME-friendly policies.
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