Open AccessBiotechnology and Performance of SMEs in Nigeria
Author(s) -
Abba Nasidi
Publication year - 2018
Publication title -
international journal for empirical education and research
Language(s) - English
Resource type - Journals
eISSN - 2616-4833
pISSN - 2616-4817
DOI - 10.35935/edr/22.8274
Subject(s) - desk , business , quality (philosophy) , raw material , environmental economics , industrial organization , risk analysis (engineering) , microbiology and biotechnology , engineering , economics , mechanical engineering , philosophy , chemistry , organic chemistry , epistemology , biology
Nigerian SMEs suffers greatly in terms of struggling for survival. Access to finance is seen as the root of the major constrains including; limited access to water and power supply, good and quality raw-materials as well as modern infrastructures and processing methods. This paper adopts the desk research approach to review the cause and possible solutions and alternatives that can by-pass such constraints. Biotechnology, due to its natural and broad spectrum of application is seen as the potential solution to many of the problems that paralyses performance of Nigerian SMEs. When applied responsibly, the technology has potential of providing alternative source of; sufficient and high quality raw-materials, water and power supply as well as processing methods for industries at a considerably low price, thus, enhancing environmental friendliness, besides improving opportunities for new initiatives, and also enhancing performance efficiency of existing firms.