A Study on Survival Strategies of Small and Medium Enterprises in Kano Metropolis for the Period 2005-2010
1ADEOTI, M.O., 2GATA, E.G. AND 3MUSTAPHA, N.M.
1,2&3Department of Business Administration and Management
Federal Polytechnic, Bida, Niger State, Nigeria.
E-mail: adeotilekan@yahoo.com
ABSTRACT
The survival of the fittest is not only peculiar to animal behaviour; business firms often make frantic attempts to outsmart each other by developing and implementing winning strategies. Many business firms operate in a perfect competitive market, where only the best survives. The instinct for survival has become a worldwide phenomenon; hence, nations develop many bailout plans and strategies, cut costs, cuts in employment and other costs, just to survive. In this vein, this paper examines the various means adopted by several small and medium enterprises in Kano metropolis for survival during the economic melt-down that rocked the world: emphasis is centered on 2005-2010. The methodology used by the researchers include, collection of data from both primary and secondary sources. The primary data were collected through the administration of questionnaires to selected small and medium enterprises owners/operators in Kano metropolis. Stratified sampling method was employed. It was discovered that many business owners adopted penetration strategy; some introduced new products/brands while others employed consolidated strategy and improved marketing activities. The paper concluded by recommending that management of small businesses should endeavour to pay more attention to the nature and intensity of competition/rivalry among small and medium enterprises in Kano, especially those in related businesses.