Assessment Of The Impact Of Strategic Location On Profitability And Sustainable Of Micro And Small Businesses In Calabar

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Assessment Of The Impact Of Strategic Location On Profitability And Sustainable Of Micro And Small Businesses In Calabar


Chapter One


Introduction

1.1 Background of Study

In today’s market, having the highest-quality items, a well-known brand, and a fashionable design aren’t enough to ensure client preference. Being first on the list means being in the right location at the right moment. Any firm that wants to be successful needs to be able to get to key markets quickly and easily. It contains the key sources of raw material suppliers as well as the receivers of goods and services. Poor institutions, fragile business environments, and complicated economic and social challenges such as poverty, unemployment, low per-capita income, and unsteady economic growth and development plague developing nations. Faced with these complicated difficulties in their poor circumstances, entrepreneurs emerge to break out from poverty and exploit chances in various locations (Deng, Hofman, & Newman, 2013). Small and micro businesses are common in poor nations and have been regarded as the hub of economic activity, a major source of employment, key contributors to economic progress, and participants in global poverty eradication projects (Aga, Francis, & RodrguezMeza, 2015; Bauchet & Morduch, 2013). When compared to industrialized economies, they face a variety of obstacles, such as funding, limited capacities, weak structures, a lack of technological know-how, capital issues, institutional shortcomings, and a hostile business climate (Sorasalmi & Tuovinen, 2016).Small and micro businesses benefit from a variety of factors, including location and resource availability, which improve sustainability and productivity depending on the size and type of business. Small and micro businesses in Nigeria could benefit from location-specific resources, which could operate as a pull or push force.


1.2 Statement Of Problem

Price, product promotion, and location and location are the four Ps of marketing. The term “distribution” is used in a broad sense. I.e., the point at which your client assesses and makes a decision. receive your product or service at the end of the process. While this may not have been significant, it was nonetheless significant. For those who work from home or manage a drop-shipping company, For restaurants, stores, and even many service industries, having a third party is essential. businesses. Surprisingly, while a location is frequently the most permanent of the three, it is also the most transient.The four Ps (Alen) I’d like to express my appreciation for taking the time to read it.Different fields, such as economic geography, management science, and international business, have looked at the location choice problem from various angles and assumptions. The earliest analytical style company with a connection to spatial economic expenses such as labor prices, land costs, transportation costs, and telecommunication costs was the location – production model. (Anadhom and Kameshwarn: 704). The researchers discovered a problem in Calabar related to: The display area and the market area are both located in the production area. The Administration Office and Land Possession Locations provide a remote location that is not normally available. Metal and woodwork, as well as constriction work, require a great amount of space and access to raw materials. The administration in micro and small businesses focuses on lending money for starting capital and providing space for working areas without considering the strategic location for that specific sector. The researchers identified this issue by comparing the performance, market availability, and product safety of these micro and small businesses based on their location. The impact of a strategic location on corporate operations and productivity is significant.


1.3 Objective Of Study

The following are primary objectives of this study

  1. To examine if the strategic location of micro and small businesses in Calabar has an impact on their sustainability.
  2. To describe the elements that influence the strategic location of micro and small businesses in Calabar.
  3. To examine if the location of micro and small businesses in Calabar has an impact on their productivity.

1.4 Research Questions

  1. Does the strategic location of micro and small businesses in Calabar have an effect on their sustainability?
  2. What factors influence the strategic location of micro and small businesses in Calabar?
  3. Does the location of micro and small businesses in Calabar have an effect on their productivity?

1.5 Significance Of Study

This research will be useful to micro and small businesses in Nigeria who recognize the importance of having a strategic location that will be sustainable for their business and aid productivity.


1.6 Scope Of Study

This study focuses on examining whether the strategic location of micro and small businesses has an impact on their sustainability. It also seeks to describe the elements that influence the strategic location of micro and small businesses. And it also tends to examine whether the location of micro and small enterprises has an impact on their productivity. This study is delimited to micro and small businesses in Calabar


1.7 Limitation Of Study

Availability of materials, finance and time constraints to combine research work and academic work were major challenges the researcher encountered during this research


1.7 Definition Of Terms

Profitability:

Productivity is the efficiency of production of goods or services expressed by some measure.

Sustainability:

Sustainability is the capacity to endure in a relatively ongoing way across various domains of life.

Small and Micro Business:

This are businesses whose personnel numbers fall below certain limits.


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