The Role of Strategic Planning in Small Business Enterprises in Benue State

Abstract

The performance and effectiveness of small business enterprises as an instrument of economic growth and development in Nigeria has been the concern of many researchers and business organizations. The study examined the role of strategic planning in small business enterprises in Benue State. It was informed by the researchers that the intense scrutiny has been against the backdrop of the low performance and inefficiency that characterized small business enterprises particularly in assessing its role on economic growth and development. Despite government institutional and policy support to enhancing the capacity of small business enterprises, small business enterprises have fallen short of expectations. This has generated serious concern and sceptism on whether it can bring about economic growth and national developments in Nigeria. This low performance has further exacerbated poverty, hunger, unemployment and low standard of living of people in a country whose economy is ailing. The study involved a survey research. The population of the study is 105 while the sample size was derived statistically to arrive at 95. Questionnaires were used as major instrument of data collection. Data collected were analysed quantitatively with simple percentage and tested the research hypotheses with F - ratio (ANOVA). Results show that poor planning has no significant relationship with low performance of small business enterprises in Benue State and strategic planning has no significant relationship in improving the operations of Small Business Enterprises in Business State. The research recommend among others that small business enterprises should learn to set long term goals with implementation plans in the management of their business.