AN EVALUATION OF THE IMPACT OF SMALL SCALE BUSINESS ON ECONOMIC DEVELOPMENT OF NIGERIA (A CASE STUDY OF SAWO INDUSTRY, ILORIN)
This write up is based on an evaluation of the impact of small scale business on the economic development of Nigeria.
( A Case Study of Sawo Industry, Ilorin Nigeria).
However, the role of small scale industries on the economic development of Nigeria has helped the economy to improve to a maximum level unlike when Nigeria use to bring in all their needs from foreign countries which make the economy worse that time.
TABLE OF CONTENTS
Table of content
1.1 Background to the Study
1.2 Statement of the Study
1.3 Objectives of the Study
1.4 Significance of the Study
1.5 Scope of the Study
1.6 Limitation of the Study
CHAPTER TWO LITERATURE REVIEW
2.1 Concept of Small Scale Business
2.2 Small Scale Business in Nigeria
2.3 Conceptualization Economic Development
2.4 Relevance Of Small Scale Business in Economic Development
2.5 Types of Small Scale Industries
2.6 Sources of Financial Small Scale Business
2.7 Problems of Small Scale Industries in the Development Process.
CHAPTER THREE: Research Methodology
3.2 Research Study Area
3.3 Research Population and Sample
3.4 Research Instrument
3.5 Validity of the Instrument
3.6 Administration of the Instrument
3.7 Method of Data Analysis.
CHAPTER FOUR: presentation and analysis of result
4.2 Preview of the Questionnaire Administered
4.3 Presentation of Result CHAPTER FIVE
1.1 BACKGROUND OF THE STUDY
The question for economic development ensures overall improvement in individual well being of citizen as been the pre occupation of every nation. The process involves a number of approaches. One of these is the adoption of an industrialization strategy at a point in time relevant to the prevailing needs of development. Developing countries are under much pressure in this regard because of their general peculiar features which among other include concentration of high proportion growth low level of savings, general poverty of various dimension, poor credit and marketing facilities etc (on Wumere, 2000)
Many developing countries have attached high priority to the industrial sector in their development plans possibly as a result of their attraction to many development theories that have tended to see industrialization as the gateway to modernization Nigeria, like many of them had on gaining political independence, adopted import substitution as her industrialization strategy. Thus should not be surprising, because even as at today. Most of the rich advanced countries are rich because they are industrialized.
Incidentally, the past policies and strategies failed to generate self sustaining growth largely because of their reference establishment of large scale firm. Resources (human and material) had largely idled in the face of mounting problems
Since the 1970s, therefore, developing countries have been compelled, in the face of thus problems to look for alternative approaches to development. One of these approaches has been the redirection o f efforts and encouragement of small and medium scale enterprises (SMES).
Since the introduction. However, the role of small scale industries on the economic development of Nigeria has help the economy to improve to a maximum level unlike when Nigeria use to import all her need from the overseas countries which of course made the economy worse that time (Oshagbemi, 2000).
The contribution of SMES to the development process are such that any country are such that any country can only ignore its own peril. Hence, there is need to evaluate the impact of small scale business on economic development
1.2 STATEMENT OF THE PROBLEM
Development strategies in the past had favoured large scale concerns which had not yielded much desired not returns to their economic. The quest for economic development to ensure over all improvement in individual well-being of citizens then become the occupation of every nation, hence an attempt to incorporate the small and medium scale industries then become important with the incorporation, has thus been able to foster economic development in the Nigerian own situation? This become a problem which this study tries to proffer solution to, so as to evaluate its importance on the economic development of Nigeria.
1.3 OBJECTIVE OF THE STUDY
The major objective of carrying out this research is to evaluate small scale industry impact on the economic development of Nigeria.
I will also focus on the following areas
I. To identify constraints such as fund and management of SMES
II. To identify strategies that would be used in operation of MES in kwara state
III. To examine the economic potential of SMEs on gross domestic products and creations
IV. To establish the importance of SMES as an option of economic developing recovery growth in Nigeria.
V. To identify the role played in government towards the promotion and developing of SMES.
VI. To examine and identify the constraints such as funding and managing of SMES.
Finally, the research work will lay emphasis on the various agencies established by government to promote small- scale industries in Nigeria.
1.4 SIGNIFICANT OF THE STUDY
Small and medium scale enterprises in Africa rely largely on own savings, not only to grow but also to innovate. Firms often need real services support and formal finance assistance, failing. Which under – investment he long term capabilities (training and R& D) may result, (oyeleran, 2003).
Beside finance, there are critical elements (including: knowledge, skill and experience staff: capacity and quality of internal facilities information and knowledge of market, intellectual and managerial leadership external infrastructure and the incentive system at the micro and macro levels) that are lacking within technology support institutions, these under line the effectiveness of their support to SMES.
This study is significant because it would help to evaluate the operations of a vital segment of the industrial sector. Small and medium scale industries, which has been identified as having very high potential in promoting economic growth and development. The evaluation will be done with special focus on the small and operation in small scale business. There by adding to the existing literature on the subject matter.
1.5 SCOPE OF THE STUDY
This research covers the area of promoting small and medium scale enterprises in the economy of Nigeria. Paying attention to the role of the government and other external factors that can affect positively the development of small and medium scale enterprises in Nigeria.
The research intends to study the essential problems encountered by small scale operators in the economy of Nigeria and suggest ways by which they can be adequately efficiently financed and promoted.
1.6 LIMITATIONS OF THE STUDY
Carrying out any research on any study cost is very important without enough in hand, it will be very difficult to carry out the research effectively.
Further more, text books and journals are not made available in the library the journal room is not opened at the appropriate time for the student book, that can not give enough data for the researcher.
Time was another constraint, due to it was not possible to visit various small scale industries. This gives room for the selection of a case study (Sawo Industry Nigeria), 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.
Unavailability of necessary information’s as then staff and management of Sawo Industry. Nigeria are stalling from given out information about the company..