CONTRIBUTION OF SMALL SCALE ENTERPRISE TO ECONOMIC DEVELOPMENT IN NIGERIA. (A CASE STUDY OF IFY BREAD BAKERY INDUSTRY NIGERA LIMITED)
Content of this project writing reveals the contributions of small scale enterprise to economic development and it’s enhancement through various ways it encouraged. The content of this project writing also state and reveals the fact that small scale industry’s in Nigeria helps in the creation of employment opportunity to graduate intending to secure a job and to be self employed even the proper allocation of raw materials (proper use) and also avoid waste of minimal raw material of a country. It also advices the government to help in the development of small scale industry seeing that it help in the creation of employment opportunity.
Chapter one of this project tells us about the background of the entire study, how small scale enterprise has been a bedrock even before it’s recognition by the government and chapter two (2) elaborate more on the case study of the project, how the enterprise in question was give birth to and it’s measures to appreciate and grown higher.
Chapter (3) three explains the different meaning of literary terms employed. Chapter four (4) is all about hypothesis and chapter five (5) it’s finally conclusion. The purpose of this project writing is to reveal to a great extent how small scale enterprises have contributed to economic development. If properly encouraged and recognized by the government it will help to eradicate the problem of lack of employment in the country. I sincerely appreciate my H.O.D Mrs Nwandu for the knowledge which she has impacted into me so far it has been a mass contribution to this project writing.
TABLE OF CONTENT
Title page - - - - - - - - i
Approval page - - - - - - - - ii
Dedication - - - - - - - - iii
Acknowledgement - - - - - - - iv
Abstract - - - - - - - - - v
Table of contents - - - - - - - vi
Introduction - - - - - - - - 1
1.1 Background of the study - - - - 1
1.2 Statement of the problem - - - - 5
1.3 Objective of the study - - - - - 7
1.4 Scope of the study - - - - - - 9
1.5 Research Question - - - - - - 9
1.6 Limitation of the study - - - - - 10
1.7 Definition of Terms - - - - - - 11
Literature review - - - - - - - 15
2.1 Meaning of small scale - - - - - 17
2.2 Entrepreneurial philosophies - - - - 19
2.3 Problems facing small scale enterprise - - 21
2.4 Factors that determine location of an industry in national development- - - - - 26
2.5 The relevance of small scale business enterprise in national development - - - - - 28
2.6 Present situation of small scale business enterprise in Nigeria - - - - - - - - 31
2.7 Financing of small scale business enterprise - 36
2.8 Performance of small scale business enterprise in Nigeria - - - - - - - - 40
2.9 Why small scale business enterprise should be encouraged and developed - - - - 44
Research Design and Methodology - - - 46
3.1 Research Design - - - - - - 46
3.2 Area of study - - - - - - - 47
3.3 Population of study - - - - - - 48
3.4 Sample and sampling procedures - - - 50
3.5 Instrument for date collection - - - - 51
3.6 A validation of the instrument - - - 52
3.7 Reliability of the Instrument - - - - 53
3.8 Method of data collection - - - - 53
3.9 Method of data analysis - - - - - 54
Data Presentation and Analysis - - - - 55
4.1 Presentation and analysis - - - - 55
4.2 Summary of findings (results) - - - - 71
Discussions, recommendations and conclusions72
5.1 Discussion of finding (Results) - - - - 72
5.2 Implications of research findings - - - 73
5.3 Conclusions - - - - - - - 74
5.4 Suggestion for further studies - - - - 75
Bibliography - - - - - - - 77
Appendix I - -- - - - - - 79
Appendix II - - - - - - - 80
1.1 BACKGROUND OF THE STUDY
Nigeria economy as at far back 70’s was an agricultural economy. Nigeria was not considered a rich country as at that time but then the nation was able to fed itself adequately and the economy was very buyout, at this time 85% of the country’s export earning was from agricultural product during this period also Nigeria has been making concrete effort and plans towards the economic development which was capital intensive, these enterprise were being operated mostly by foreigners also some other industrial plant in the economy as at then were mostly owned by Europeans and also master minded by the same European experts.
The development of entrepreneurship shifted the Nations emphasis from agricultural engagement to mainly sole ownership (Small-scale). Nigeria has a lot of fund (money yet it we) the beginning of the country’s (economy) problem could not appreciate any further Miss-management of fund by the country’s leadership that led to much unnecessary spending, the nation started suffering from economic depression such foreign debts, money devolutions and so many other set backs. In respond to these weakness of large scale enterprise couplet with the total economic depression government than sought to promote small scale enterprise as a strategy for achieving self reliance and the only way to match on into an industrialized economy. Governments have championed the campaign for individual, most especially the unemployed one’s to be creative and be self employed.
In responds to these weakness of large scale enterprise, coupled with the total economic depression on government, then sought to promote small scale enterprises as a strategy for achieving self reliance and the only way to match on into an industrialized economy, government have championed the campaign for the public, most especially the unemployed one’s to be creative and to be self employed.
To aid sole-ownership scheme have been launched both at the state and federal levels some of this programmers are the national economic empowerment development strategy (needs). Small scale industrial credit scheme (SSICS) national directorate of employment (NDE) federal Office of statistic in Niger Delta development commission (NDC), which have been providing loan facilities for small scale industrial owners.
To further show the significant of this sector and the potentials it has in promoting an industrialized and self reliance economy, government national development of (2000 – 2010) explicit stated the main objectives of the programmer geared towards the development of small scale industries as the creation of employment opportunities rotations of local resources. These are to be achieved through joint assistance to small scale entrepreneur in financial management technical conceptual and human development, relations skills. The main vehicle used for administering development centers (ADC) and the state industrial scheme (SSIS) small scale business are generally more flexible and more willing to exploit new and modern opportunities. Therefore small scale enterprises encourage indigenous urban Nigeria.
Hence it should be widely accepted that small scale business enterprise forms the bed of any nation’s industrial take off.
1.2 STATEMENT OF PROBLEM
For Nigeria to excel and appreciate industrially there is the need to promote and develop this sector because it serves as the bedrock of the countries industrial development. Unfortunately, the sector could not grow higher and faster due to some problems facing the sector both with and without. This project work will therefore carried out investigation on the following.
a. Managerial problem that hinders the promotion of entrepreneur development.
b. Lack of credit and infrastructural deficiencies
c. Various ministration in Nigeria that lack the will and power to involve appropriate institutional strategies to ensure a co-coordinated system of assistance to small business enterprise based on the knowledge gathered from this study. Small scale business entrepreneur have limited experience and this should utilize simple uncomplicated approach to planning their activities.
The basic planning processes for small entrepreneur development are as follows:
i. Resources Analysis: Analysis of your know your business strengths, weakness and its source of find etc.
ii. Environment: Example out-side factors such as technological changes, government regulations, social trends etc.
iii. Competitive Ability: Analyze company’s strength and weakness in relation to its master competitors.
iv. Setting Objective of the Firm: Such as sales volume growth of earning return on investments, markets shares.
v. Firm opportunities and risk strengths and weakness market operating problems
vi. Determination of appropriate strategies and tactic, to achieve desired objective economically.
1.3 OBJECTIVES OF THE STUDY
Specifically the main objective of this study is to carryout research to be able to know what from the effective promotion of small scale business enterprise and also highlights the ways, means and strategy that could be adopted to promote and facilitate the development of small scale business enterprise to promote economic self reliance in the society.
The importance of small scale enterprise in the promotion to economic reliance has always been at the fore front of development strategies in Nigeria, however, many developing countries have failed to adopt this strategy owing to their belief it is a relatively slow process of industrialization.
Consequently, the objectives of this study are:
i. To examine the existing scheme for the promotion and development of small scale business enterprise in Nigeria.
ii. To identify the problem militating against the effectiveness of these scheme.
iii. To suggest possible solution to the identified problem.
iv. To know the various administrations in Nigeria that lacks the will and power to evolve appropriate strategies to business enterprise.
v. To know how to do with the establishment and operation of small business enterprise.
In addition, the study seeks to determine the potentials possessed by the country for the establishment, development and growth of small scale industries.
The analysis of all role of small scale business entrepreneur in the growth of industries in the country.
1.4 SCOPE OF THE STUDY
The scopes of this study are contributions of small scale enterprise to economic development.
The scope of my study also includes what are the problems facing small scale enterprise, their performance and also why they should be encouraged.
1.5 RESEARCH QUESTION
It is the aim of this study to know the following
i. What is the managerial problem that hinders the promotion of entrepreneurial development?
ii. Why is it that some various administration in Nigeria lack the will and power to evolve appropriate strategies to small business enterprise.
iii. Why is it that there is lack of credit and infrastructural deficiencies in small business enterprise?
iv. What are the means of finding out the existing scheme for the promotion and development of small scale business enterprise?