Small scale enterprises are expected
to play a vital role towards the development of the economy due to closeness to
the grassroots. But unfortunately they
are unable to do this due to lack of fund.
As a result of this, government came up with incentive schemes to assist
them develop their business and the economy in general.
this project that is organized in five chapter this format discusses what
promoted the researcher to carry out research on this topic, the aim of the
project, the significance, scope, limitations and delimitation. Chapter two deals strictly on literature
review, where the researcher criticized the works of the authorities in the
field, find out where they conflict and where they are agree. Chapter three explains the research method
adopted. It was in this chapter that we
discuss where we source out data, this location and instrument for presentation
and percentages were used in data presentation while chi-square (X2) was used
to analyse the data collected in chapter four.
chapter five discusses the conclusions and recommendations. However it was equally inferred in the work
that further research is encouraged in this topic as the need to trigger off
development by adequately findings the small scale enterprises necessarily
name. I send my very sincere thanks across the space. May we remain blessed?
TABLE OF CONTENTS
1.1 Background of the study
1.2 Statement of problem
1.3 Purpose of the study
1.4 Significance of the study
1.5 Research questions
1.6 Scale /Area study
1.7 Definition of terms
2.0 Literature Review
2.1 The role of small scale business
2.2 Advantages of small scale business
2.3 Problems of small business in Enugu state
2.4 Source of small scale Business finance
2.5 Government policies and incentives
3.1 The design of the study
3.2 Population of study
3.3 Sample /sampling Technique
3.4 Instrument for data collection
3.5 Validity /Reliability of instrument
3.6 Method of data collection
3.7 Method of data Analysis/presentation
presentation and analysis
5.0 Summary and conclusion
5.2 Limitation of study
5.3 Suggestion /Area for further studies
Background of study: Many economic analysts in Particular have
described government incentive schemes towards small-scale business in Nigeria and Enugu metropolis as a
well development especially in
this period of low level of economic activity and slow rate of growth of the
economy as well as its devastating effects on the demand for labour. Undoubtedly the slow rate of economic growth
in the state explains why few job opportunities are available. In most parts of the world, the importance of
small scale business enterprise is not over emphasized in the process of
socio-economic development of the country.
It has become sufficiently clear that large scale enterprises have not
and cannot alone play the dynamic role that they are supposed to play in the
rapid growth and development of the economy, and prominent among these rates is
employment creation and technogical development. Therefore the need for small-scale
enterprises which will supplement the effects of the large scale business. Small-scale are those business that required
very little capital to set up and to produce goods that will carter for the
needs of the growing population. It is
in the light of importance of small-scale business in Enugu metropolis that government incentive
scheme towards small-scale business will be appreciated.
Incentive in a literal sense implies
that which has motivating influence and serving to incite actions. These incentive schemes instituted by
government provide other non-financial and financial assistance in the form of
loans at affordable interest rate and grants.
It is in the light of the above that nation economic reconstruction fund
(NERFUND) and Nigeria bank for commerce and industry (NBCI) and other
development banks were created.
However, small-scale enterprises have
been defined by various authors in various ways but OSA20 (1984) defined
small-scale business as a productive enterprise which is owned, managed and
controlled by one or two persons or family which influences the decision making
and a well has undifferentiated organization structure but has a small share of
the market with less than fifty (5)) employees.
While central Bank of Nigeria
annual report and statement of account (1975) defined small-scale business as
those enterprises with annual turnover not exceeding N5,00,000.00
spite of the recognition of the role of small-scale enterprises in fortering
economic development through the promotion of indigenous technology, employment
generating activities and bordering the production base of the economy, the
impact has not been given adequate recognition.
have been restricted access to institutionalized credit
because banks see them as high risk ventures
(Orji 1996) with the introduction of structural Adjustment programme (SAP) in
1986 and the inevitable devaluation of Naira, Many small-scale enterprises
found it very difficult to cope with the attendant high production costs as a
result of high cost of imported input and high interest rates. Therefore, to bridge this observed gap in gap
in banks lending to small-scale enterprises, the Federal government set up the
national Economic Reconstruction Fund (NERFUND in 1989 with aim of providing
soft loans on medium and long term basis to small-scale enterprises wholly
owned by Nigerians.
The question now is, can it be said
that the scheme has made desired impact on the development of small-scale
enterprises in Enugu
state? Since there are agencies set up to prove incentives and grants to
small-scale enterprises, therefore the researcher intend to find out why
small-scale business does not thrive in Enugu state. Also to investigate whether the growth of the
economic activity in the state where these agencies actually providing it only
in paper work and not practically. These
are some of the critical issues, which this research work intends to evaluate;
hence the topic evaluation of government incentives schemes towards small-scale
enterprises is given.
PURPOSE OF STUDY
purpose of this research work is to evaluate government incentive scheme
towards small-scale enterprises with firms in Enugu metropolis as a case study.
This work will also point out the
problem encountered by the small-scale enterprises in an attempt to receive
incentives or loans from banks and as well investigate whether the incentives
when received are properly put to use or not.
This also evaluates the role of small-scale enterprises towards the
development of the state economy.
Therefore the objectives of this work as pointed will be summarized
examine the problems encountered by small –scale enterprises in Enugu state in attempt to
receive loans and incentives.
determine whether incentives, grants or loans received are diverted or put to
identify the government incentive scheme towards small-scale enterprises.
evaluate the role of the small-scale enterprises towards the development of Enugu state economy.
make recommendations on proper management of government incentives and
SIGNIFICANCE OF STUDY
This research work, which aims at
evaluating government incentive schemes towards small-scale enterprises in Enugu state when concluded,
will be of great benefit to the following interest groups:
THE GOVERNMENT: this work will be of great importance to the government
state. This is because government has
the interest of their economy at heart and equally they are the people that set
up this incentive scheme and as well finance them through subventions. Therefore they will be interested granted to
the small-scale enterprises and as well will like to know whether all these
incentive schemes were actually granted to the enterprises. Also they will want to know whether the
small-scale enterprises actually contributed to the growth and development of
SMALL SCALE ENTERPRISES: this is another
group that will be interested in this research work. This is because they are the
firm we are evaluating the incentives given to them. Therefore, they will like to know how best to
put to use the incentive received from government and as well know the best way
to approach government in order to get more incentives from them and what the
government expects from them when they receive such incentives.
RESEARCH STUDENTS: it will be of
great importance to research scholars who may want to investigate or research
further on this topic. It will serve as
a source of reference to this researcher and will help the students to know
where to locate data, source of data and how to present the research work. This implies that it will make further
research very simple
GENERAL PUBLIC: this work
will equally be of great interest to the general public because they will like
to know how small-scale enterprises contribute to the growth and development of
the economy, which affects them. They
are potential investors who can be influenced into going into small-scale enterprises
due to the incentives which government gives to help them growth.
research is translated into questions of which when
will provide the detail solution to the problem of study. For this purpose of this research work, the
following questions will be asked and answered.
are the problems encountered by small-scale enterprises in an attempt to
receive loans and incentives in Enugu
are modalities of receiving grants and incentives by small-scale enterprises
and are the grants put in to other uses?
the government incentives scheme set up to help small-scale enterprises?
are the roles of small-scale enterprises towards the development of the state
SCOPE/AREAS OF STUDY
work is meant to cover the totality of the small-scale
in Nigeria, but due to the fact that small-scale enterprises are scattered all
over the country thereby making it difficult within the time frame, the
researcher therefore decided to limit the work to some selected small-scale
enterprises within Enugu metropolis. The
emphasis will be the modalities of receiving incentive grants and subventions
from government incentives scheme and how the incentive were put to use towards
the development of the state economy.
DEFINITION OF TERMS
INCENTIVE: this is defined as anything capable of
motivating an individual or organization into greater performance.
SMALL SCALE ENTERPRISES: This is
business that is produced in small-scale, owned, managed and controlled by one
or two persons with staff strength less than 50 and control a small share of
Economy Reconstruction fund is one of the credit schemes that provide soft
loans to small scale enterprises
CREDIT: These are
loans given to individuals, organizations, on agreed terms which boast their
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