Small Business in Nigeria - Essay Example

A short history of Nigeria's business and political changes is given. Environmental scans show that because of government intervention at many levels of business, and the favoring of large business by government, small business suffers from a lack of resources and funding. Because of political upheavals and tensions between factions of Nigeria, there has been a lack on economic stability or long-term economic policy. This paper relies upon information found in previous surveys. There is a severe lack of information available from Nigerian government sources.

The postal system in Nigeria is deficient, and a third factor of difficulty is the unwillingness on the part of many Nigerians to 'share' information with outsiders. Personal visits by the sources to many companies were used to correlate information. Findings have been combined to develop an overall picture. While there are serious cultural differences WITHIN Nigeria, as well as without, the impact on business in Nigeria is becoming less important. . The largest cultural difference within the country is from the North, the Huasas territory which is Muslim and very traditional, eschewing the English language, but still dominating the government policies.

Another cultural situation is the paternalistic management of companies that follow traditional ways, using the older males of the family to manage the business.The impact of bribery and corruption has been shown to be negative on business in countries all over the world. Evidence of this is given in this paper.Communitarian virtue ethics theory is briefly discussed to the ethical context of Nigerian business. Cultural challenges as well as government changes suggest the need for a "mediating institutions approach" (Mambula 2004).

The Enterprise Promotions Act of 1972 helped use more indigenous people in the management of foreign operations. These business philosophies may help reorganize Nigerian economics.The role of women in the workplace in Nigeria is examined, as it has become a growing part of the business world. Previous cultural restrictions have caused women to get less schooling and technical training, and own fewer businesses. But recent economic needs have pushed women into business where they often run their own business as well as take care of dometic chores.

The constraints of banking practices on small business is discussed briefly. The overall viewpoint leads to considerations American business might need in deciding whether to engage in business in Nigeria or not. Leadership styles are also highlighted to show which has been more effective. And ethical business theories are focused upon.Common variables of research articles for direction and future researchA paragraph from Babarinde (1997) states that