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Human Capital Development and Small-Medium Scale Enterprises Growth: A Critical Appraisal of Empirical Studies

Author

Listed:
  • Folake Olubunmi Lanre-Babalola

    (Osun State University)

  • Olufemi Aina Ajose

    (Lagos State University)

  • Nancy Izegbuwa Tongo

    (Bells University of Technology)

  • Olufemi Samuel Omoyele

    (Osun State University)

  • Timothy Ayomitunde Aderemi

    (Bells University of Technology)

Abstract

Human capital is one of the most strategic inputs for the expansion of the organization`s growth. In view of this, the study critically appraised the submission of various scholars regarding the contributions of human capital development to SMEs growth over the time. Consequently, studies regarding the nexus between human capital development and SMEs growth are ongoing currently. Based on the perspectives of various studies it could be submitted that many of these studies are in support of the argument that human capital development has advanced the growth of SMEs significantly in the recent times. The growth of SMEs has been in terms of the production of novel goods, productivity, better profit margins, profitability, output significance and capital base. Therefore, this study recommends that the policymakers, the SMEs owners, shareholders, and strategic managers should place maximum priority to development of their human resources whenever they have a plan to expand the growth of their organization.

Suggested Citation

  • Folake Olubunmi Lanre-Babalola & Olufemi Aina Ajose & Nancy Izegbuwa Tongo & Olufemi Samuel Omoyele & Timothy Ayomitunde Aderemi, 2023. "Human Capital Development and Small-Medium Scale Enterprises Growth: A Critical Appraisal of Empirical Studies," EuroEconomica, Danubius University of Galati, issue 1(42), pages 183-190, May.
    • Handle: RePEc:dug:journl:y:2023:i:1:p:183-190
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