Contribution of small and medium enterprises to economic development: Evidence from a transiting economy

Abstract

The focus of this research was to present a data article on the contribution of SMEs to economic development in a transiting economy. Descriptive research design was adopted in this study. Data were obtained from 600 respondents in 60 small-scale enterprises located in different parts of the country (20 small-scale enterprises located in Lagos State, 20 in Anambra State and 20 in Kano State of Nigeria respectively). Data analysis was carried out using tables and percentages and the null hypotheses of the study was tested using chi-square (X2) inferential statistical model at 5% level of significance. The findings revealed that there is a significant relationship between the operation of small and medium-scale enterprises and economic growth in developing nations. Keywords: Entrepreneurship, SMEs, Economic development, Transiting economy, Nigeria