Internal Factors and the Performance of Selected SMEs in Nigeria

This study examines how internal factors affect the performance of selected small and medium-scale enterprises (SMEs) in Lagos State, Nigeria. SMEs play a vital role in economic development, but many in Nigeria struggle due to internal weaknesses. The study investigates the individual and combined effects of these internal factors on firm growth, market share, and profitability. Using a quantitative survey method, data were collected from SME owners and managers across Lagos State. The study identifies significant gaps in managerial capabilities, inadequate infrastructure, and limited application of knowledge management as major contributors to underperformance. The findings emphasize the need for targeted interventions, including training for SME managers, improved access to infrastructure, and promotion of knowledge-sharing practices. This research offers valuable insights for policymakers, business owners, and development agencies aiming to enhance SME sustainability and competitiveness in Nigeria's dynamic economic environment.