IMPACT OF GLOBALIZATION ON THE DEVELOPMENT OF SMALL AND MEDIUM SCALE ENTERPRISES IN OREDO LOCAL GOVERNMENT AREA OF EDO STATE

The integration of the world into one huge market has increased market for businesses all over the world. Besides, it has opened the developing economies to attacks from the developed and emerging economies. Small and medium scale enterprises (SMEs) in Nigeria have been confronted with an increasingly competitive environment due to globalization and liberalization of trade. This study therefore, seeks to examine the impact of Globalization on the Development of Small and Medium Scale enterprises in Oredo Local Government Area, Benin City. It adopted both the qualitative and quantitative research techniques. Primary data were obtained through semi-structured questionnaire and interview schedule in which one hundred and twenty-five (125) questionnaires and five (5) respondents were interviewed based on the structured interview schedule. Three hypotheses were proposed and tested. Chi Square statistical method was used in analyzing of the data collected. The study reveals that there is a positive relationship between globalization and SMEs in Oredo LGA. The study also recommended that the government should reduce the rate of corruption and also an improvement in government policies towards SMEs should be undertaken.