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The central aim is to assess how internal business factors influence performance metrics among SMEs in Lagos.

February 8, 2026Open Access

An Empirical Evaluation of Internal Business Factors and Performance Metrics among Small and Medium Enterprise in Lagos, Nigeria

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Evaluates the impact of internal factors on performance metrics in SMEs, suggesting actionable implications for improvement.

The central aim is to assess how internal business factors influence performance metrics among SMEs in Lagos.
Examined 11,663 SMEs with a sample of 473 firms using Krejcie and Morgan table for sampling.
Performed multivariate analysis of variance (MANOVA) using SPSS to analyze data.
Conducted follow-up univariate analyses to identify effects on profitability, market share, and sales growth.
Found a strong multivariate effect of internal factors on performance (Wilks Λ =.091, p =.004).
Identified significant effect sizes (partial η² = .522–.721) indicating internal competencies are crucial.
Profitability, market share, and sales growth positively influenced by internal variables, with sales growth being the most responsive (p =.001).

Okogua et al. (2026) studied this question.

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