ENTREPRENEURSHIP EFFECTIVENESS IN SMALL-SCALE INDUSTRIES
The role of small-scale industries to any economy is indispensable recently; the emphasis has been on measures to accelerate their expansion and growth. To give this effort proper directim, it is identifiable that the key ingredient in translating this dream into reality is effective entrepreneurship.
The research is able to reveal the characteristics nature of small-scale industries, how small scale industries are financed and some of them are from personal savings and from relatives, the causes of failure of small-scale industries, covered also the importance and the needed factors to be considered before setting the industries.
In this regard, the study laid much emphasis on the whole idea of entrepreneurship effectiveness in small-scale industries. The solutions and recommendations are subsequently based on the observation and research findings for effective entrepreneurship on small-scale industries.
TABLE OF CONTENTS
Table of contents
CHAPTER ONE: INTRODUCTION
1.1 General Background of the study
1.2 Problems associated with the study
1.3 Purpose of the study
1.4 Significance of the study
1.5 Scope and limitations of the study
1.6 Definition of important terms
CHAPTER TWO: LITERATURE REVIEW
2.1 Characteristics of small scale industries
2.2 The important of small scale industries
2.3 Causes of failure in small scale industries
2.4 Factors to be considered in sitting small scale
2.5 Methods of financing small scale industries
CHAPTER THREE: RESEARCH METHODOLOGY
3.1 Data presentation
3.2 Analysis of data
3.3 Summary of findings
The roles played by small-scale industries in the growth of any economy cannot be over emphasized. This has been the singular reason why both government groups and individual in business always place greater emphasis on the unique human activity. This also accounts for its dominating prominence in government policy statements. Much multinational or even supranational business today stated as small-scale businesses, this therefore implies that small scale is the beginning of every big business.
The present day America is the richest country in the world judging by their economy the history o industrialization in this ‘’ God’s own country” has show the absolute importance of small scale industries in the economy and scheme of things, careful study and investigation has released that in America, only 1/10 of 10% of the total number of firms in the economy employ more than 2,500 workers. It is also further show that 89% of the total firms in the economy employ less than 100 employees, and 65% having less than 20 employees in their payroll.
As a standard of judgment. Using number of employees, this has at least proved that in spite of here economic glory, America is not land of giant corporations. Many countries of today like, South Korea, Taiwan, Honkong and Singapore are making enormous successes in the world export industrial market as a result of emphasis on small-scale industries.
As a way out, the efforts of every segment of the Nigerian government for small scale industries enhancement cannot therefore be surprising thus, our part administrators, national planners and development project imitators cannot excuse their lack of careful planning in this regard, therefore, following the result of these falterers in our national development economy and planning strategy, the continue ineffectiveness of our small scale industries have promote the reason for this work. The research work therefore is an attempt to look into a key and embodying factor in small-scale industrial effectiveness.
“ Entrepreneurship effectiveness in small scale industries” the scope of the project would be limited to a case study of Macon’s Bakery industry in Enugu state capital. The general opinion revealed that in spite of its key roles and functions in the success of any ventures or business adequate entrepreneurial impact has neither been felt nor matched the search for small scale industries enhancement and growth. Investors have not shown commendable interest to accept entrepreneurial role, and this has led to a low venturing rate in spite of all this, there are still multifarious prospective areas in the manufacturing, merchandising and service sectors of the economy that exist, this was actualized through the various efforts made by the government, private individuals, industrial and financial institutions and others commercial agencies towards including small scale enterprise. For effectiveness, there is need to make adequate appraisal of entrepreneurial role towards funding of the enterprises to actual managing. These measures will ensure that the entrepreneurs achieve the rewarded profits.
As we said earlier, small is the beginning of large scale, the effort on small-scale enterprises were stepping-stones to large-scale corporation.
Prosperous individual like Ekendilichukwu, Ifesinachi, Dantat, Hamza, Adebowale, Samusie and a host of others started as a small-scale business. It is a waste of time for one to keep waiting for large capital to accumulate before establishment, thus, the statement” from grass to grace”
Taking the manpower and development needs of this country into consideration, any capital savings must be reinvested for further capital formation in the best way for multiplier effect on the economy towards small-scale enterprise promotion. In effect, our dreams will come true and fruitful if the necessary linkage between small-scale enterprise and small-scale entrepreneurship is created.
1.1 GENERAL BACKGROUND OF THE STUDY
The idea has been that the glory of any economy, whether industrialized or underdeveloped depend very much on how well organized and managed the small-scale industries are given this fact; most of the developed countries of the world are champions of small-scale industries.
In the real sense, the central objectives of the small-scale enterprise are to make profits for the owner or manager/entrepreneur for expansion purposes. As a result, there should be equilibrium between the goals of the managers and those of the worker to achieve a desired psychological, economy and entrepreneurial effectiveness. Therefore, profit is a reward for an effective entrepreneurship. It is a foundation to small-scale industrial development, which is consequently and acid text for entrepreneurship effectiveness.
Therefore, government being very keen has to establish the peace of industrial funding and management to attain the much needed entrepreneur effectiveness. Other programmes aimed at promoting entrepreneurial development and enterprises in small scale should be considered by the government.
Furthermore, entrepreneurship effectiveness is a primary function of ventural personal evaluation to determine entrepreneurial qualities, taking decision creativeness ingenuity, innovative mind and skill, minimizes the risk and optimizes reward.
It is therefore, based on the above established facts of entrepreneurial and small business circumstances that the project writers intend to build some of the assumption underlying the project topic.