What is Industry Market Specific Factors

The chapter established the effects of Nigerian market environment on SMEs performance. An empirical study was conducted with survey research design of 21,444 firms and a sample size of 1,102 was arrived at scientifically. Probability sampling methods were employed. An adapted validated questionnaire, and a 0.82-0.96 reliability coefficients range was used. Inferential statistics were used to analyse the data using SPSS software version 22.0. The findings reveal that Nigerian market environment had significant negative effects on the SME performance. The different components of the Nigerian market environment have different effects on the SME performance. The results imply that the environmental turbulence could be responsible for the high failure rate of SMEs in Nigeria. The study contributes to the body of knowledge on environmental and performance management by noting the criticality of the industry market environment in facilitating organizational performance.