The aims and objective of this project is to explain the role of small-scale business in economic growth and development in
The dynamic role of small-scale business as an engine of growth in developing has been recognized in discussing the topic.
one of this project will base on this topic, instruction which examines the
topic, the identification of problems, objectives of the study, scope and limitations of the study, the
significance of the study and the development
of small-scale enterprises will be explained.
Chapter two emphasis on the literature review, the characteristics of small-scale enterprise, the roles of small-scale enterprise in
promoting economic development.
The third chapter in this project will describe the research methodologies which are basically
questionnaires, interview, the samples and
sampling technique, the procedure for data analysis and the limitation of the methodology. It also stated the characteristic
of the study population.
The fourth chapter will treat the data presentation and analysis.
summary of findings, conclusion and adequate recommendation with suggestion for further study will be
found in chapter five of the study.
TABLE OF CONTENTS
Identification of Problems
Objectives of the Study
Scope and Limitations of the
Significance of the Study
of Small-Scale Enterprises
Review of Related Literature
Sources of Data
of the Study Population
Samples and Sampling
Data Collection Instruments
Administration of Data
Procedure for Data Analysis
Limitation of the
presentation and Analysis
Summary of Findings
for Further Study
dynamic role of small-scale business as an engine of growth in developing countries has long been
recognized. It acceleration effect in
achieving macro object, such as full employment, income distribution and development of local technology as well as
diffusion of management skills and stimulation of indigenous entrepreneurship
have been well documented in economic literature. In Nigeria, the
small-scale business sub-sector has been
expanding, especially since the mid-1980s following the introduction of SAP which forced many large
enterprises to lay-off large proportions of their work force. The sector
account for about 70% of industrial employment, chains World Bank
of this research is to review the experiences of other countries in economic growth and development through small-scale business
and proffer a way forward for Nigeria.
major lesson Nigeria has learnt is putting the private sector at the centre of
growth, while the government concentrates on what t is best suited to do. Creating the right environment for business to
translate into faster and make stable growth.
This sector offers the best promise of sustainable economic growth to any nation because of its inherent ability to:
a. Tap into people's capacity for creativity and
higher managerial efficiency and wealth creation.
reasonable balance between risks and returns in virtually all cases of resource
d. Create employment, especially at a time when the
public sector in most African countries s downsizing.
e. The wrong attitude of government business is nobody business has no place in the private sector.
1.1 IDENTIFICATION OF PROBLEMS
out the Nigeria has been having the problem relating to poor standard of living of the people for the past years ago with
clear observation, the economic recession
that had lead to depression of growth
and development is partly due to any factor, like lack of qualified personnel,
modern technology etc. and also lack of effective institutional framework to
promote and develop small-scale enterprises n Nigeria and inherent in
consistently of government policies towards promotion and developing
small-scale enterprises are attributable to poverty situation in Nigeria.
I also discovered that
before the structural adjustment policy programmes
of the Federal government, there has been so much unemployment to the extent that the large
population so much dependent on import substitution industries which are
based on a large scale.
believe my contribution is necessary by focusing my attention to this important areas looking
more promotion and development.
It is the view that dragged me to up an idea of researching on the role of small-scale enterprises in economic growth and development
in Nigeria that I found out that above problem are the cases of setback in
small-scale enterprises, which is adversely affecting the growth and
development in Nigeria.
FUNDING SOME IN NIGERIA
personal saving/funds resulting
/ one low initial promoter equity.
Uncoordinated business ideas
bankable project by entrepreneurs.
of the customers (SMEs) to satisfy high
credit risk standards, including collateral
of banks to provide long-term funds due to mismatch between tenor of bank deposits and loans being sought.
and prohibitive interest rate regime and
exchange rate regime. The main concern achieving sustainable development and improved living
conditions for the citizens Nigeria
a late starter because of excessive driving favour, various man- made disasters. A few natural disasters (in
relative terms). This makes globalization
looks more like a threat than an opportunity but there s an advantage of learning from the mistakes as
well as the good and tested strategies
of early starters.
1.3 OBJECTIVES OF THE STUDY
The major aim of this research is to find out the major contributions of small-scale enterprises to the economic growth
and development of Nigeria.
and objectives are:
To investigate into the
problems faced by small-scale enterprises.
determine the extent of involvement of both the government and financial institution in financing small-scale enterprise.
out the limitations inherent towards expansion of small-scale enterprises.
suggest and recommend measures that may help in solving problems.
1.4 SCOPE AND LIMITATIONS OF THE STUDY
The scope of small-scale
enterprises is so wide that thousand of researchers cannot even cover the Kwara
State talkless of Nigeria as a country.
With regards to this philosophy, I limit my studies to some selected small-scale enterprises reside in Ilorin area.
As a student talking up this expensive job, since my resources are limited, I have decided to limit y studies to
small-scale enterprises in Ilorin
in other to reduce cost and expenses and march-up with my financial resources. But, this is not to say I will not sight
equally good example of small-scale enterprises in other locations.
1.5 SIGNFICANCE OF THE STUDY
If small-scale enterprises are promoted and properly financed it will accelerate the economic growth and
development of Nigeria in the following
It will generate employment
Standard of living of people
will be improved,
discover another way by which small-scale enterprises can develop an economy.
The recommendation that will
be given can be a source to end the problems affecting the growth and
development of Nigerian economy.
The projects finding can help other students who love to do research n the area of small-scale enterprises in future (it can
be used are reference).
1.6 DEVELOPMENT OF SMALL-SCALE ENTERPRISES
data of the establishment of small-scale enterprises in Nigeria is not available, but the fact still remains that small-scale enterprises has been in existence some years back
during the colonial era (pre-independence).
led to the birth and development of small-scale enterprises then and up till now was due to the poor
standard of living in Nigeria The government found
out that there is poverty here and there especially in the rural area of the
country, level at villages and towns is causing an inflow of rural people that
suppose to care for their households at home and
villages now migrate to urban area like Lagos, Kano, Ibadan etc. This migration has caused over population in all
these large towns, therefore the standard
of living of people has dropped. The only and best way has to check this abnormality is to establish
small-scale enterprises in other to improve the standard of living of
However, the development of small-scale enterprises in Nigeria has an important element in the strategic point in developing
Nigeria as a country, Federal Government is
adopting in its efforts to industrialize the country and to build a
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