University of Lagos Business Administration: SMEs Management Course
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Questions and Answers

What is the main focus of the course on Small and Medium Scale Enterprises (SMEs)?

  • Discussing political economy
  • Analyzing agricultural sector
  • Understanding the global business environment (correct)
  • Exploring large corporations

    • Why are Small and Medium Scale Enterprises (SMEs) important to business students?

  • They provide entertainment value
  • They have no impact on the economy
  • They contribute significantly to economic development (correct)
  • They focus on theoretical concepts only

    • What role do SMEs play in developing economies?

  • Negatively impact the GDP
  • Contribute to economic development (correct)
  • No significant role
  • Hinder growth of key sectors

    • In which types of countries do SMEs contribute significantly to economic development?

    <p>Both developed and developing countries</p> Signup and view all the answers

    What is the significance of SMEs according to empirical statistics?

    <p>They play a vital role in developing key sectors of economies</p> Signup and view all the answers

    What percentage of the total revenue in the UK did SMEs contribute to in 2016?

    <p>60%</p> Signup and view all the answers

    Which country had SMEs contribute 80% to employment generation?

    <p>Nigeria</p> Signup and view all the answers

    What was the total value of exports by US SMEs in 2007?

    <p>$306.76 Billion</p> Signup and view all the answers

    In which country were SMEs recorded to have contributed approximately 70% to total employments generated in 2016?

    <p>UK</p> Signup and view all the answers

    What is one of the major contributions of SMEs mentioned in the text?

    <p>Employment generation</p> Signup and view all the answers

    What is the approximate percentage of GDP that SMEs contribute to in Ghana?

    <p>60%</p> Signup and view all the answers

    How many formal Micro-Enterprises are estimated to be part of the approximately 365-445 Million MSMEs in emerging economies?

    <p>55-70 Million</p> Signup and view all the answers

    What aspect is used by most international organisations to define or identify an SME?

    <p>The company's annual turnover</p> Signup and view all the answers

    Why is there no universally acceptable definition for MSMEs according to OECD?

    <p>Quantitative measures such as size are relative to the context of a domestic economy</p> Signup and view all the answers

    Which organisations cited in the text are involved in using categorisations to define or identify an SME?

    <p>All of the above</p> Signup and view all the answers

    What is the estimated number of total MSMEs in emerging economies?

    <p>365-445 Million</p> Signup and view all the answers

    What does the text indicate about the formal SMEs among the estimated MSMEs in emerging economies?

    <p>25-30 Million are formal SMEs</p> Signup and view all the answers

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