Data Analysis of Nigerian SMEs

This report presents a data analysis of Nigerian agricultural SMEs, focusing on their internationalization strategies and challenges. The study uses thematic analysis of survey data from Nigerian agricultural businesses to identify key themes related to profitability in the local market, the potential for internationalization, strategies employed (such as exporting and e-commerce), barriers to internationalization (including lack of knowledge, technology, resources, and readiness), and areas for improvement (infrastructure, technology, innovation, and market knowledge). The analysis reveals that while many businesses have operated successfully in the local market for years, international expansion presents significant hurdles. The report highlights the importance of exporting and e-commerce as key internationalization strategies, but also emphasizes the need for improved infrastructure, technological capabilities, market research, and organizational readiness to overcome barriers and successfully enter international markets. The study concludes that internationalization is crucial for the growth and survival of Nigerian SMEs, contributing to both organizational and national economic development.

CHAPTER 4: DATA ANALYSIS
Introduction
Data analysis is the process to revise the information for reaching the conclusion to a certain
problem. The data analysis is effective for structuring the findings of the research. The data
analysis is also effective to break large problems into several smaller parts (Silverman, 2016). In
other words, the researchers use data analysis for gaining meaningful insight of the huge data
set. In the current research, the data collected by researcher is analyzed using thematic
analysis. The thematic analysis is a method widely used in the qualitative research (Braun &
Clarke, 2016). The thematic analysis gives importance on examining the themes within the
research. The thematic analysis is based on organizing the data. The thematic analysis is
important for identifying the relationships between different themes within the research topic
(Nowell et al., 2017). This current chapter deals with identification and analysis of themes
within the data collected by the researcher through survey among a few agricultural SMEs
companies in Nigeria.
Presentation of Data
The representatives of these few agricultural businesses in Nigeria were surveyed using the
open-ended questions. Use of open-ended questions is effective to encourage the respondents
for sharing their views freely. In this section, the views of the respondents are collected and
those are presented theme-wise.

Themes Description Frequency
Years of operation of the
business
Most of the agricultural
businesses in Nigeria are
operating in the market for
long time. The data collected
from the respondents is
indicating that most of the
organizations are operating
in the local market for about
than 10 years.
Most of these businesses are
operating in the local market
for about 10 years while a
few of these businesses are
operating for lesser years.
Profitability in local market The representatives of the
agricultural SMEs in Nigeria
indicated that the local
agricultural market is highly
competitive in nature. So,
remaining profitable in the
market is difficult for the
organization. The businesses
always need to analyze
strategies of the competitors
majority of the respondents
mentioned that the
businesses are still profitable
but earning more profit for
the organization is being
difficult. But a few businesses
have stated that the
organization is struggling to
remain profitable. In all the
cases, the business

to earn more profit. The
businesses also need to
identify new strategies for
attracting and retaining the
customers and also to remain
profitable.
representatives have
mentioned the high
competition in the local
market as a key reason
behind the less profitability.
Internationalization of
agricultural businesses
The respondents consider
that entering the
international market can
benefit the business to find
out new ways of increasing
the profit. There are many
organizations in the local
agricultural market of
Nigeria. So, finding new ways
to increase the profit in this
country is difficult. However,
in the international market,
there are many untapped
customer groups whom the
Nigerian businesses can
Most of the respondents
have considered that the
internationalization can be an
effective way to enhance
profitability of the
businesses.

serve.
Potential to internationalize The respondents have
mentioned that the Nigerian
businesses can
internationalize. However,
the businesses have not
realized the full potential to
internationalize. The
agricultural businesses
operate in a successfully in
the local market and they
meet the local standards. In
order to do businesses in the
international market, the
organizations require
acquiring new capacity to
meet the different types of
needs of international
customers. The businesses
also need to find out
innovative ways for meeting
the requirements of
Most of the business
representatives in Nigeria
have considered that the
organizations have full
potential to internationalize.
However, the business
representatives have
mentioned that the
organizations still not have
the full potential to serve
customers in the
international market. Several
of the respondents have
mentioned that the
businesses require
developing adequate
infrastructure for improving
the quality of products and
services and be compatible
with the international
standards. The respondents

international customers. The
businesses require having
adequate infrastructure to
compete with other
international organizations.
Finally, the organizations
require being aware of the
rules and regulations in the
international markets to
operate there successfully.
have stated that the local
businesses need to gain more
knowledge on the needs and
wants of the customers in the
international market. All the
business representatives
have shown their concern
over the rules and
regulations in the
international market. The
rules and regulations in the
international market is quite
different than that of the
local Nigerian industry. So,
the local businesses need to
make them able for
complying with the rules and
regulations.
Internationalization
strategies
The business representatives
have mentioned that
exporting to the foreign
market is an effective way to
Exporting is one of the key
internationalization
strategies used by the
Nigerian agricultural SMEs.

internationalize. The
exporting provides the
organizations to serve the
international customers in
cost-effective manner.
However, a small number of
Nigerian businesses are
giving importance on
entering the international e-
commerce market. Entering
the e-commerce market is
also an effective way to reach
the international customer
groups.
Majority of the respondents
have mentioned exporting as
the primary strategy for
internationalization.
However, the businesses are
also looking for new ways to
internationalize. The
businesses have given
importance on
internationalizing through
the e-commerce operations.
The businesses are also
considering using the latest
technology for
internationalization.
Barriers The Nigerian businesses are
experiencing different types
of barriers while entering the
international market. Firstly,
the businesses are facing
problems due to lack of
knowledge on the demands
The business representatives
have mentioned different
types of barriers for
internationalization. Some
businesses have mentioned
that lack of knowledge on the
international customers is

of international customers.
The local businesses of
Nigeria also do not posses
advanced technology to
serve the international
customers. The lack of
innovative ideas is another
issue for the Nigerian
businesses. The businesses
need adequate financial
resources to internationalize
successfully. The lack of
financial resources is another
key problem for the Nigerian
businesses. Finally, the
Nigerian businesses are also
not completely ready to
enter the foreign market.
one of the key issues faced
by them. Other
representatives have also
mentioned that the advanced
technology is necessary for
successful
internationalization. Some of
the respondents have
mentioned that lack of
financial resources is another
key issue faced by the
Nigerian organizations for
internationalization because
funds provided for
agricultural businesses
development are not usually
put to good use effectively or
misappropriated by various
official. Respondents have
also mentioned that the
readiness of Nigerian
businesses is another key

factor that prevents them
from entering the
international market.
Areas to improve The key areas that need to be
improved are--
infrastructure, technological
resources, innovative
strategies, accountability and
knowledge on the market.
The respondents have also
mentioned that many
businesses do not have the
attitude for entering the
international market. The
businesses require
developing the innovative
strategies for improving the
service and product quality.
The businesses also need to
obtain more knowledge on
the market to serve the
Most of the respondents
have mentioned that
upgrading the infrastructure
is necessary to
internationalize the
agricultural SMEs in Nigeria
effectively. Also, respondents
have mentioned that the role
of market knowledge is also
important for
internationalizing the SMEs.
They have also mentioned
that the organizations need
to incorporate innovative
strategies for operating in the
international market
successfully.

customers better.
Benefits of
internationalization
The internationalization of
SMEs in Nigeria is primarily
beneficial for the
organizational growth.
However, the respondents
have mentioned that during
the internationalization, the
businesses need to hire
skilled workforce to execute
the activities. It can create
new jobs in the society.
All of the respondents have
mentioned that the
internationalization can help
the SMEs to enhance their
growth rate. The SMEs can
also create new jobs in the
society.
Analysis
The data collected through the questionnaire survey can be categorized into eight key themes.
In the current section, the data under each theme is analyzed and the findings are listed.
Profitability in local market: The profitability of an organization in the market depends on the
level of competition. In Nigerian agricultural market, the level of competition is quite high
among the SMEs (Sertoglu et al., 2017). The primary data indicates that the businesses are
facing difficulties to remain profitable in the market. Entering new markets can enable the

businesses to find out new ways to increase profitability. Therefore, internationalization can be
an effective strategy for the SMEs to earn more profit. However, the local market of Nigeria and
the international market are completely different in nature. So, the businesses require
developing knowledge on the international market and also need to develop strategies
accordingly to promote their products to that market.
Factors contributing to successful Internationalization of agricultural businesses: The primary
data indicates that most of the agricultural SMEs in Nigeria are operating in the market for a
long time. The data in the sources also state that many businesses in Nigeria are individual /
family-run and these businesses manufacture products only to meet the livelihood needs of the
family and local markets. The long years of operation facilitated the business to gain experience
and knowledge in the local market (Olowofeso et al., 2017). The knowledge on the local
customers can be effective for serving the international customers as well. So, the years’ of
experience and the knowledge base can be beneficial for the businesses. Primary data indicates
that the agricultural SMEs are focusing to increase their profitability through the
internationalization. The internationalization helps the businesses to reach the untapped
portion of the markets. In other words, the internationalization of SMEs can be considered as a
market development strategy for the businesses.
Potential to internationalize and the strategies: The primary data indicates that the Nigerian
businesses consider that they have the potential to succeed in the international market.
However, the businesses also consider that there are several changes that need to be brought
for operating successfully in the international market. The primary data revealed that the
businesses focus on using the export as one of the key strategies to enter international market.

The businesses can also use the e-commerce operations for entering the international market.
The secondary data also indicates the importance of exporting for internationalization. Both the
primary and secondary data is indicating that the businesses require focusing on improving
their technological capabilities for offering quality products and services. The primary data
indicates that the businesses require enhancing their readiness for internationalization. The
secondary data also indicates that the readiness of the businesses is one of the key factors that
lead to successful internationalization. The internationalization can be done successfully with
help of innovative strategies, as evident in the primary data. The secondary data also indicates
that the businesses require developing innovative strategies to internationalize successfully.
Conclusion
The current research indicates that the internationalization is necessary for the Nigerian SMEs
businesses to find out new growth opportunities. Using internationalization, the SMEs
businesses can reach the markets where the competition is less. Operating in the international
market can be easier for the Nigerian businesses because of their experience and knowledge on
the local market. The thematic analysis indicates that exporting is considered as a key strategy
to enter the international market by the Nigerian SMEs. However, the analysis indicates that
some of the Nigerian businesses are also considering e-commerce as another effective strategy
to enter the foreign markets. While entering in the foreign market, the Nigerian SMEs can
experience different barriers. For instance, the lack of infrastructure can restrict the businesses
from operating in the international market. The lack of advanced infrastructure is another
factor that is restricting the Nigerian SMEs from operating in the international market because
the lack of mechanized equipment’s may not permit the SMEs to increase production and meet

up with the high demand for SMEs agricultural products by the international market. The
businesses also require developing the knowledge on the international customers to serve
them in a better manner.
Chapter 5: Conclusion
Introduction
Internationalization is one of the effective strategies that help the small and medium-sized
businesses to grow and survive in the market. Exporting is a widely used strategy by the SMEs
for enteringto the international market (Bijaoui, 2016). However, as evident in the research,
implementation of successful exporting strategies depends on several factors such as readiness
of the organization to adopt the changes in the international market, the innovative strategies
and the proactive approach of the businesses to meet the needs and wants of customers. While
expanding the business to the international market, the SMEs can experience several barriers
such as knowledge and resource barriers. In the case of the Nigerian agricultural SMEs also, lack
of financial and human resources are the two key barriers to internationalization. The Nigeria
agricultural SMEs are a major part of the national economy. In addition to being a source of
economic growth for the nation, the businesses are the major job providers also. Therefore,
successful internationalization is necessary for the Nigerian SMEs, not only for the
organizational growth but also for boosting the national growth. The current chapter includes
discussion on the extent to which the research objectives are met in the study. The chapter also
includes recommendations for the Nigerian SMEs for expending their business in the
international market through the exporting.