Global Competitiveness, SMES Survival and Economic Development in Nigeria

Abstract

This paper seeks to establish the effect of global competitiveness based on the World Economic Forum framework on basic requirements, efficiency enhancers, innovation and sophistication on the Small and Medium Scale Enterprise (SME’s) survival in Nigeria with particular attention to Benin-City, Edo State. Global competitiveness could be assessed through the set of institutions, policies, and factors that determine the level of productivity of a country. The level of productivity, in turn, sets the level of prosperity that can be reached by an economy as well as the rates of return obtained by investments in an economy. The paper relied solely on descriptive analysis of the primary data collected from a structured questionnaire. It was found that the basic requirements, efficiency enhancers, innovation and sophistication which are driven by 12.