SMALL SCALE ENTERPRISES IN NIGERIA: ROLES IN EMPLOYMENT GENERATION AND ECONOMIC GROWTH (A CASE STUDY OF SELECTED SMALL BUSINESS IN LAGOS SUB-UBAN)

ABSTRACT

This research project is on SMALL SCALE ENTERPRISES IN NIGERIA: ROLES IN EMPLOYMENT GENERATION AND ECONOMIC GROWTH

(A Case Study of Selected Small Business in Lagos Sub-Uban)

This research work is generally about the effects of small-scale enterprises on the creation of employment and economic growth.  The project has undertook the general introduction into the research work led to the review of various literature that relates to the major variables involved in the research work especially small-scale, employment and economic growth under which is was pointed out that there is not unanimous agreement among the countries of the world and individual on the definition of small-scale enterprises. Each country tends to define the category of enterprises base on the peculiar needs of public policies; however, there are common indicators in the definition given, such as size of capital invested, value of annual turnover and number of paid employees.

The data collected were analyzed through the use of frequency distribution table and chi-square statistical tool to determine whether a number of proportions to be studies are equal.

TABLE OF CONTENTS

Title Page                                                                         i

Certification                                                             ii     

Dedication                                                               iii

Acknowledgement                                                    iv

Abstract                                                                   v

Table of content                                                       vi

CHAPTER ONE: Introduction                                         

1.1   Background of the Study                                 1     

1.2   Statement of the Problems                               2

1.3   Objectives of the Study                                    2

1.4   Statement of Hypothesis                                  2

1.5   Methodology of the Study                                3

1.6   Significance of the Study                                 4     

1.7   Scopes and Limitation                                     4

1.8   Organization of Work                                       4

CHAPTER TWO: Literature Review                                         

2.1   Definition of Small Scale Enterprises                      6

2.2   Advantage of SSE’S                                          9

2.3   Roles of SSE’S In National Development          10

2.4   Problem of Small-Scale Enterprise                  15

2.5   Conceptualizing Unemployment /Employment       17

2.5.1  The Classical Theory                                      18

2.5.2    The Keynesian Theory of Unemployment

            /Employment                                              21

2.5.3                    Other Theories of Employment                    24

2.6.        Economic Growth                                                26

2.6.1      Economic Growth and  Development           27

2.7            The Roles of Small-Scale Enterprise in

            Employment Generation and Economic Growth29

2.8       Finances of Small Scale Enterprise             32

2.8.1    Small Scale Industries credit scheme          33

2.9       The Nigerian Bank for Commerce and Industry(NBCI)34

2.9.1    Industrial development Center (IDC)            35

2.9.2    The National Economic Construction Fund(NERFUND) 36

2.9.3            Small & Medium Loan Scheme                    38           

CHAPTER THREE: Research Methodology                            

3.1      Introduction                                                    42

3.2      Re-statement of Research Hypothesis              42

3.3      The Population of the Study                            43

3.4      Sample Size and Sampling Procedures            43

3.5      Source of Data/Method of Data Collection               43   

3.6      Method of Data Analysis                                  44

CHAPTER FOUR: Presentation and Analysis of Data Collected

4.1      Introduction                                                     45

4.2      Data Presentation and Analysis                       45

CHAPTER FIVE: Summary, Recommendation and Conclusion

5.1      Summary                                                         57

5.2      Recommendation and Conclusion                   59

Bibliography                                                    62

Questionnaire                                                            64

CHAPTER ONE

INTRODUCTION

1.1      BACKGROUND OF THE STUDY

Small scale enterprises are catalyst in the socio-economic development of any country.  They are a veritable vehicle for the achievement of national macroeconomic objective in terms employment generation at low investment cost, the catalytic roles of SSEs have been amply indigenous technology.  The catalytic roles of SSEs have been amply displayed in many countries such as Malaysia, Japan, South Korea, India etc. SSEs contribution substantially to the Gross Domestic products (DGP), export earnings and employment opportunities of these countries.

Using the definition of central Bank of Nigeria (1993), SSEs can be as an enterprise, whose total cost, excluding cost of land but including working capital, is above N10 million.  Economic growth on the other hand may be defined as a gradual and steady change in the long-run which comes about a gradual increase in the rate of savings and population (Schumpeter 1934).  Simply put, economic growth is an increase in per capital income over a long period of time or over a business cycle.  A person is said to be unemployed if a job is not available when he is willing nod able to work at the prevailing wage rate.

The Federal Government of Nigeria has long recognized the need to promote the development of SSEs in order to stimulate employment, mobilize local resources, reduce migration from rural to urban area and disperse industrial enterprise more evenly across the country.  This is why the government has established institutions to provide both financial and non-financial services to SSEs.  The roles of SSEs will be examined in this work n relation to employment generation and economic growth in comparison to that of large scale.

1.2          STATEMENT OF THE PROBLEMS

Nigeria is a country with increasing labour force.  She lacks capital as well as foreign investment into the country as a result of political instability and other reasons.  Therefore, a proper and efficient way of utilizing her scarce and other resources must be found in order to reduce unemployment and increase economic growth. It must be noted that unemployment is not only an economic problem but also a social problem.  This is, it does not only under growth, it also gives room of social problems such as robbery, arson, suicide etc.

1.3          OBJECTIVES OF THE STUDY

The objectives of the study are:

1.          To assess the roles of small scale enterprises in employment generation.

2.          To determine the extent at which small scale enterprises contribute to economic growth.

3.          To recommend ways through which small scale enterprise can be more effectively developed.

1.4          STATEMENT OF HYPOTHESES

In order to achieve the above stated objectives, the following hypotheses shall be tested:

Ho₁:  SSEs do not play significant roles in employment   generation in Nigeria.

Ha₁:  SSEs do play significant roles in employment generation in   Nigeria

Ho₂:  SSEs do not play significant in the economic growth      Nigeria

Ho₂:  SSEs do play significant roles in the economic growth    of     Nigeria.

1.5          METHODOLOGY OF THE STUDY

The study will base its data collection on both the primary and secondary sources.  The secondary source shall include, textbooks, journal, speeches delivered in various seminars, information from Federal Offices of Statistics, CBN Annual Report etc.  The primary source is through the use of questionnaire, which will be used to obtain information from the respondents that from the sample of the study.  Data obtained through the questionnaires shall be presented through the use of simple frequency distribution table.  The data shall be analyzed through the use of chi-square distribution, which is the statistical method use to test for the difference of two independent statistics.  

1.6          SIGNIFICANCE OF THE STUDY

The study is significant in that it will show who SSEs may be used to generate more employment, improve economic growth and help the country from her present recession if not depression as it has done in many other countries mentioned in the introduction.

1.7          SCOPES AND LIMITATION

The study will be limited to SSEs as defined.  Also the study shall limit the number of SSEs to be study to fifty.

1.8          ORGANIZATION OF WORK

The study will be divided into five main chapters.  Chapter one will cover the general introduction into the study under which introduction, statement of problems, objectives of the study, statement of the study are discussed.  Chapter two focus on literature review, which has to do with a general presentation of views by of former researchers as well as scholars on the main variables of the study.  Chapter three will contain the structural composition of the study under which the source the finance of small scale enterprises are discussed.  Chapter four will be devoted to data presentation and analysis.  The last but by no means the least in importance chapter will be used for summary, conclusion and recommendations.

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