Pages: (104-125 )
Abstract
While big businesses take Risk management seriously, SMEs do not, this is mostly due to low resource and man power. Hence, this study investigates if risk management practices have adverse consequence on business organizations particularly SMEs. The effect of Risk management implementation on the sustainability of SMEs in the West of Nigeria was embarked on. The survey design was descriptive in nature. Data was gathered through the use of structured questionnaire. The sample size consists of 395 respondents determine by using Yamani formula; responses were analyzed using multiple regression analysis. The finding indicates that a unit of effective risk management implementation activity will result in an increase in the performance of a business for 3.576 points. The study recommended that a profitable business will require a great deal of risk management implementation activity therefore implore SMEDAN to create more awareness on the need of effective risk management policy in the management of Small and Medium Scale businesses.
Keywords: Risk-management, SMEs, sustainability, Economic-development, profitability,