CHALLENGES FACED BY TECHNICAL-SKILL-BASED SMEIS IN DEVELOPING ECONOMIES: INSIGHTS FROM SOUTH-SOUTH NIGERIA

The purpose of this paper was to identify the challenges of technical-skill-based small- and medium-sized entrepreneurs and industrialists (TS-SMEIs) in the South-South region of Nigeria. Adopting a mixed methodology, one hundred ninety-eight TS-SMEIs were surveyed. Over thirty focus group discussions consisting of craftsmen and artisan grouped were held. Like in other climes, SMEIs in South-South Nigeria are beset with many challenges including: inadequate institutional support, poor infrastructure, limited access to finance, low level of technology adoption, and insufficient innovation. However, contrary to previously held positions, TS-SMEIs listed lack of workspace as the most important impediment to their business success. Expanding technopreneurship ecosystem in South-South Nigeria will mean addressing many problems that current and potential TS-SMEIs face. We recommend the: provision of access to affordable financial services; building the technological infrastructure; supporting the entrepreneurial process; and building capacity of the TS-SMEIs. Lastly, this study provides an opportunity to gain insight directly from the voice of the TS-SMEIs in South-South Nigeria themselves, to understand better their needs, and make relevant recommendations for improvements. It is envisaged that this will lead to technology driven development of the region.