The aim of this study is to examine the level of small and medium enterprises (SMEs) business owners–managers’ financial literacy and its impact on firm’s performance. The article applied a random sample and structural equation modelling (SEM) approaches in assessing the influence of SME business owners–managers’ level of financial literacy within the three states in the southwest Nigeria. The findings show the complete effect of business owner–manager’s financial knowledge, financial awareness and financial attitude in converting financial literacy to increase in firm performance. Also, they confirm that financial knowledge and awareness of SME business owners–managers are obviously not a prerequisite for the performance of SMEs, but entrepreneur characteristics in decision-making and relationship to financial attitude have a comparison with financial literacy. The research limitation evolves from cross section information observation that solely covers the southwestern part of the country. Additionally, inspired to meet the analysis gap is panel data analysis. Training courses through strategic orientation on the attitudinal perception of SME business owner–manager and basic business management skills, capacity-building aspect, leadership development as well as networking via relationship marketing and management on financial literacy may have significant effect on SMEs’ performance and growth for the managers in general in Nigeria. The article is one of the first to examine the level of financial literacy of SME business owners–managers in Nigeria. The article therefore sets an important benchmark for further research in this area.

This study was aimed at investigating the effect of internal and external social capital on the financial and non-financial performance of businesses in the Nigerian informal sector. The study further investigated the controlling role of firm age. A cross-sectional survey of 650 informal business owners in the Ikeja region of Lagos state, Nigeria was carried out. The analysis was carried out using the partial least square method of the structural equation model (SEM). Findings revealed that without the controlling variable of firm age, social capital had a significant effect on business performance, internal social capital had a significant effect on non-financial performance, it, however, had no significant effect on financial performance, while external social capital had no significant effect on financial and non-financial performance. With the controlling variable of firm age, social capital had a significant effect on business performance, internal social capital had a significant effect on financial and non-financial performance, while external social capital had no significant effect on financial and non-performance. The study, therefore, recommended that informal entrepreneurs take advantage of their internal social capital resources and also try to build their external social capital as they may become vital for their business success.

Without incertitude, SMEs have become the significant clout of sustained, instantaneous and bracing growth of Nigeria economy. Moreover, SMEs has performed an unparalleled role in advancing the Nigeria economic growth, and serve as a breeding ground for entrepreneurs and a provider of solutions to address the problems of unemployment in all consuming labours and promoting marketing growth. An opportunity for the healthy advancement of small and medium-sized enterprises (SMEs) in Nigeria was in relation to the transformation and expansion policy due to the brisk evolution of the global economy. But with the global economic integration, the small and medium-sized enterprises operating environment is facing tremendous changes and more intense competition. Hence, the reason for this paper is to present the sources of SME firm financing, conceptualize its financing challenges, source causes, with objectives to exploit the innovative ways to improve financing provision via crowdsourcing of financing and necessity to provide a regulatory environment that will support it for the growth and advancement of SMEs prospectively. Likewise, it is an essential strategy that would assist entrepreneurs to remain much motivated towards promoting his line of work. Moreover, it will reassure an individual to become a successful entrepreneur. This study will add to the existing literature in the academic area of entrepreneurship and at the same time offers a springboard that will provide an impulsion for empirical inquiry in this field. Besides, it offers important information and methods that would help entrepreneurs on how crowdfunding can serve as a source of financing provision and the positive impact on Small and medium enterprises (SMEs) firm performance

The goal of this exploration is to observationally test the connection between total quality management and SMEs' performance. Specifically, it looks at whether organizational culture (OC) has an interceding impact on the TQM-SMEs performance relationship. Established on the literature review of TQM, OC and SMEs performance, the theoretical model for this investigation was formed. A self-controlled survey was utilized to gather information from the SMEs owners-managers in the South-western region of Nigeria. In determining the relationship, SEM-PLS 3.0 was utilized. Measurable results add to the literature by showing a positive direct impact of TQM and OC on SMEs' performance, and a critical and positive aberrant impact of TQM on SMEs' performance through OC. The quantitative cross-sectional research configuration explored an example of assembling SMEs. Subjective methods or a contextual investigation approach for additional data examination could be utilized for subsequent research. The results of this exploration give awareness into SMEs' owners-managers in the present unique manufacturing setting, concentrating on TQM as an instrument for improving their performance. The outcomes can help SMEs by giving direction with regards to the OC, on account of its impact on the effective execution of TQM, in this way improving the dimension of performance. The examination expands the TQM literature with an extensive comprehension of TQM from the point of view of SMEs in Nigeria. It fills the void in observational examinations that research the joint impact of TQM and OC on SMEs' performance.