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The Millennium Development Goals

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One of the Millennium Development Goals (MDGs) was the focus on finding ways to eradicate poverty and hunger especially in under-developed and developing economies. However, the banking crisis and very recently the slump in oil prices have brought a new twist; as developed economies began to struggle with poverty and of weak economy due to a large portfolio of debt as seen in some EU countries. Fifteen years later, the MDG goals is far from being actualised as under-developed countries are still under-developed and developing countries are developing at different rates with the likes of Malaysia and especially Brazil making bigger strides.
According to a survey on the Brazil economy, Haner (2011) showed that a major contribution to the growth of the Brazilian economy is due to the impact of the small and medium scale enterprises (SMEs). It is estimated that the SMEs account for 20% of the Gross domestic product (GDP) and 54% of total formal employment in the country (Office of Evaluation and Oversight [OVE] 2014). SMEs also play an important role in the economic development in Malaysia accounting for 33% of GDP, 58% of employment and 19% of export (Hashim 2015). There is a higher survival rate of SMEs in Malaysia with 97.3% of business establishments recognised as SMEs (Khalique 2011; Lim & Xavier 2015).
The above examples highlights the importance of SMEs in helping a developing country move in the right direction. The research proposal is focussed on how Nigeria-a

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