The aim of this research is to find out
or throw more lightly on the growth problem and prospects of small scale
industry in Nigeria.
The objectives of the projects is
primarily to find out the growth problems and prospects confronting small scale
industry in Oyo State with a case study of Taotech Quarry and Mining Nigeria Limited
The study will recommend ways and means
of eliminating these problems with a view to achieving was given to small scale
industries because I have considered carefully the nature of the state.
Industries are just spring up, there are very few large scale industries where
as small scale industries are very much and could be found in urban and rural
areas. The project is being strutted in to five different chapters which are:
Chapter one contain, introduction of the
study, statement of problems, objective of the study, scope of the study. Limitation
of the study, plan of the study, definition of concept and term.
Chapter two contain, literature review,
definition of small scale industry, importance of small scale industry, sources
of finance for small-scale industry, characteristics of small business firms in
Nigeria, problem facing small-scale industry, I-low small-scale industry can be
growth and develop in Nigeria.
Chapter three also contain, Research
methodology, area of study, population of study, sample size and sampling
procedure, method of data collection, source of data collection, statistical
tool applied data analysis
Chapter four will also contain Result
and discussion, demographic characteristics of the respondents. Chapter five also
contain, conclusion of the study, recommendation of the study
TABLE OF CONTENTs
Table of Content
1 .1 Statement of the problems
1 .2 Objective of the study
1.3 Scope of the study
1.4 Limitation of the study
1.5 Plan of the study
1.6 Definition of concept and term
1.7 Historical background of Taotech
2.0 LITERATURE REVIEW
2.1 Definition of small-scale industry
2.2 Importance of small-scale industry
2.3 Source of finance for small-scale industry
2.4 Characteristics of small business firms in
2.5 Problem facing small-scale industry
2.6 How small-scale industry can be grow and develop in Nigeria
3.0 RESEARCH METHODOLOGY
3.1 Area of study
3.2 Population of the study
3.3 Sample size and sampling procedure
3.4 Method of data collection
3.5 Source of data
3.6 Data collection
3.7 Statistical tool applied data analysis
4.0 RESULT, DISCUSSION AND DEMOGRAPHY
4.1 Results and discussion
4.2 Demographic characteristics of the
5.0 SUMMARY, CONCLUSION AND RECOMMENDATION
5.1 Summary of the study
5.2 Conclusion of the study
5.3 Recommendation of the study Reference
Many people have the anonymous belief
that Nigeria can become industrialized only through the establishment of large
industries. But if one should look critically in to the industries development
of the economically develop0ed countries it shows that for a genuine industrial
take off in a number and improving the performance of indigenous owned
small-scale industries, In the investigation of the entrepreneurial phenomena
Enmill (1934) observed that the characteristics features of an entrepreneur
include direction supervision, control and risk taking. It is affinity for
risk, which distinguishes him from the manager. But according to Schumpeter
(1934) emphasized innovation rather than risk taking as the most important
distinction between the two. In his opinion an entrepreneur’s goal broadly
defined, is to develop new product or services as well as new method of
production identify new market, discover new sources of supply and develop how
It is no gain saving that the industrial
section has contributed immensely, to the economics and social development in
Nigeria, the importance of the small-scale industries has been recognized by
the federal government of Nigeria claimed that play especially to the creation
of employment opportunities, mobilization of local resources and the diminution
of rural-urban migration.
Small-scale industries are indispensable
in the national economy. Since large scale industries depend on it. Hence the
path to rapid economic development will depend to a large extent on the
efficiency of this sector.
Therefore, the importance of the
industrial sector in modern economic is universally accepted the developing
countries have since 1990’s. Shown greater interest in the promotion of the
growth of small scale industries (SSI) for three main reasons.
The failure of past industrial police, which anchored on the establishment of
large firms to generate self sustaining growth.
Increased emphasis on self reliant to development and greater attention paid to
aspect of development other investment and output growth.
This other elements of growth small-scale industry sector (SSI) contribute to
include more economic use of resources more employment creation p unit of
capital investment. Mobilization of domestic savings bar investment,
development, great utilization of level resources and more equitable income
distribution. Another justification for the interest, in the experience that
growing and dynamic small enterprises have growing in to large ones and have
contributed substantially to national development objectives.
OF THE PROBLEM
All over the World, inadequate access to
finance is one of the major objectives inhibiting the establishment and growth
of small business firms.
The finance problem of the small
business firm is more serious in the developing countries than in the developed
countries in developing countries like Nigeria.
There is need for improved ways of
financing the small business firms but at the same time the needs are difficult
For a very long time now the medium and
large scale firms, have been receiving more financing alternation at the
expense of the small firms.
While the Nigeria industrial development bank (NIDB) and the Nigeria Bank for
Commerce and Industry (NBCI) reserve their financial assistance for the medium
and large scale enterprise, the small business firms cannot be said to have
such special development institution set up solely to cater for their finance
needs. It was until 1973 that the Nigeria Bank for Commerce and Industry under
took the responsibility of channeling and coordinate loans and credit to small
business firms. Since then, the Nigeria Bank for Commerce and Industry has been
playing the role of an apex institution.
The small scale industries in Nigeria have other problems apart from that of finance;
managerial inefficiency is one of such problems. Other include lack of infrastructural
facilities, mobility to attract skilled manpower poor making facilities and
inaccurate accounting records keeping, this study will however focus attention
on the problems of growth and development facing small scale industries.
The small scale industries are faced
general with three types of financial needs.
The need for initial capital
Working capital once the firms is in operation
Capital for expansion
Apart from these financial needs the small scale industries have difficulty in
securing long term equity finance, obtaining greater protection from the
calling of loans and security funds in small amount at lower rates?
light of the discussion small scale industries should not be allowed die
because of financial inadequacy. Their survival is of great importance to the
country since the majority of firms in the Nigeria business sector are mostly
small scale in nature. Moreover many large scale business of today are off show
of yesterday small firms.
OF THE STUDY
The objectives of the project is primarily to find out the growth, problems and
prospects confronting small scale industries in OYO State with a case study of
Taotech Quarry and Mining Nigeria Limited Ibadan.
The study also will recommend ways and means of eliminating these problems with
a view to achieving better efficiency in this sector.
Consideration was given to small scale industries because I have considered
carefully the nature of the state. Industries are just spring up, there are
very few large scale industries where as small scale industries are very much
and could be found in urban and rural areas.
OF THE STUDY
There are many problems threaten the
growth of small scale industries today paramount of them is management and
Perhaps the genesis of these problem
emanate from the fear that unlike big companies small scale industries are not
statutory bound to newer account to stewardship through to appraiser its
Although this research project was
carried out solve growth, problems and prospects of small scale industries in
Nigeria. It appears that forecasting are a few of factors that have presented
propensity and allowed availability of problems to remain with small scale
industries with the resulting high rate of unpredictability and morality.
OF THE STUDY
Generally, carrying out any research on
any study, cost must be very important without enough in hand, it will be very
difficult to carry on the research effectively. In our economy, education is
with terms, an average student find it very difficult to receive the sum of
#4,000:00 on project work as a result of this problem, finance has limited the
effort of the researcher from going to various places in owner to get some data
for this project work.
Also, textbooks and journals are not
made available in the library the journal room is not opened at the appropriate
time for the student books that cannot give enough data for the researcher.
Furthermore, time was another
constraint, due to it was not possible to visit various small scale industries,
so that comparisons could be made them will out case study of Taotcch Quarry
and Mining Company Nigeria Limited. There were also human problem of not
meeting the respondent on seat either in the site or at their main office each
time I visit the company concerned.
OF THE STUDY
This project work is organized in such a
way that it is start with the introduction in chapter one under it stated the
background of the study, statement of the problem, objective, scope of the
study and including the limitation of the study.
The second chapter deals with the
literature review which discuss the meaning of small scale industries,
importance of small scale industries, source of finance small scale industry,
character of small scale and growth of small scale industries, how it is
practiced at Taotech Quarry and Mining Company Nigeria Limited Ibadan.
Also, the third chapter contains the
research methodology, type and data collection and the statistical tool applied
and data analysis.
The chapter four centers on the
discussion and analysis of data and information of hypothesis while chapter
five gives the summary and observation conclusion and assumed recommendation
for the problem in small scale industries.
DEFINITION OF TERMS
CAPITAL: - This refers to those materials that change their form in the process
of production into finished production.
- Is a factor of production that coordinates and organizes other factors of
production for a more productive purpose
- Mean Value Added Tax
ES: - Mean small and medium enterprises
- This is an owner of share in a business company.
PROPRIETORSHIP: - May be defined as a business organization established, owned,
finance and controlled by one person with the aim of making profit.
HISTORICAL BACKGROUND OF TAOTECH QUARRY AND MINING INDUSTRY IN IBADAN, OYO
Taotech quarry and mining industry was
established in 1988 under the chairmanship and managing director of Chief
Emmanuel Adesoye in realization to the urgent need to increase their production
to meet demand and create employment for their citizens.
located at Ibadan. The company stated its building early 1983 and had it
completed around 1986 and its trust production was out in 1988. It is one of
the companies in the Adesoye group of companies, which has been for many years
being championship the cause of indigenous technology in the country.
quarry and mining is a research and development, production, marketing, service
for the integrated enterprise, and it’s a professional supplier of mining
Crushing equipment and industrial guiding mills, which has independent right of
import and export.
Taotech has formed a whole production
chainman products: crushing machinery, guiding machinery, and auxiliary
products vibrating screen vibrating feeder and other associated equipment
products cover more than 20 models of three major series: mill series crushing
series, and sand making series.
The operations have a total capital
interest of over # 200,000,000 (200m), excluding land and it are fully owned
and managed by Nigeria citizens, the industry was providing employment
opportunities to many Nigerian citizens.
The company employees are indigene,
there are no expatiate among them. The company got it raw material within the
country and sometimes from foreign country, but plans it on the way for the
company to source local materials. Taotech quarry and mining is having over
four hundred employees, including the casual workers and the senior staff and
has her headquarters in Ibadan and other branches all over the country.