The Impact Of Globalization On Small Scale Business Survival

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The Impact Of Globalization On Small Scale Business Survival


Abstract


This study is on the impact of globalization on small scale business survival. The total population for the study is 200 staff of National Bureau of Statistics (NBS), Abuja. The researcher used questionnaires as the instrument for the data collection. Descriptive Survey research design was adopted for this study. A total of 133 respondents made economists, statisticians, senior staff and junior officers were used for the study. The data collected were presented in tables and analyzed using simple percentages and frequencies


Chapter One


1.0 Introduction

1.1 Background to the Study

The small scale business is passing through the worst ever phase that ever could ever happen to business in the old days. People in the business and academic may term this as an inherent stage in he process of globalization and integration of our domestic economy but unfortunately it effect are form are than though of and perceive even today.

If one look back tot eh small scale business industry in last fifty years then one wonders what made a sudden change to ideal of small scale business. The planner of yesterday dear had completely rejected a purely capitalistic model of business from the day of maturity stage because they looked into the inherent problems of illiteracy, population explosion, quality of work life, financial problem, capital intensive and otehrkey indicators like average life cycle the small scale business was playing a major role in strengthening the whole social fabric of a civilization which talk about survival. Small scale business can be defined as the practice of starting new organisation particularly new business generally response to identified opportunities. Another definition say it as a person who is willing and able to convert a new idea invention into successful innovation. Also globalization on small scale business can be define as the practice of starting new organisation particularly new business generally response to identified opportunities. Another definition say it as a person who is willing and able to convert a new ideal invention into successful innovation. Also globalization on small scale business was well practice in Japan, Taiwan and American for example, the recognition for small scale business as a vital sector in development of Japanese economy could be traced to 1920’s prior to this period, Japanese government emphasised on large scale industry was neglected. Although this strategy improved industrialization in Japan but a number of construction problem were created henced the need for integrating small scale business industrial into the national industrial policy become apparent (Owuala 1992). Institutional supports for the growth of small scale business in Japan started after the second world war II. Prior to the emergence of formal source of finance, informal source such a trade credit constituted reliable means of financial. In recognition of the important role of small scale business in Japanese economy the financial institution for small scale such as medium business finance corporation.

As the most dynamic and flexible stratum of the economy, small scale business on the front lines of this new wave of globalization as a microcosm of the overall economy there is enormous diversity within the group of business. Many small scale business are encountering unprecedented growth opportunities associated with the new wave of globalization and are sappily integrating into global supply chain mean while other as struggling to compete with low wage foreign competitor for the first time.


1.2 Statement of the Problem

International business is important to all organizations because most are either international or compete with international companies. International Business refers to all business transactions both private and governmental that involve participants from two or more countries. (Hill, 2005) International business consists of all commercial transactions including sales, investments, and transportation that take place between two or more countries. (Daniels, 2013) International business has contributed greatly to the rise of globalization or the interdependence between countries. According to Daniels globalization is the ongoing process that deepens and broadens the relationships and interdependence among countries while International Business is a mechanism to bring about globalization. International Business growth is contributed by an increase in and expansion of technology; liberalization of cross border trade and resource movement; development of services that support international business e.g. internet, air and sea transport; growing customer pressures; increased global competition; changing political situations; expanded cross national cooperation‘s (Daniels, 2013). Companies engage in international business to expand their sales, acquire resources and diversify or reduce risks. There is evidence of current interaction of SMEs with international business which has been realized through a range of cross border activities, including trade, international investment, and participation in strategic alliances, partnerships and networking arrangements affecting a variety of business functions ranging from research and product development to distribution. (Promoting entrepreneurship and innovative SMES in a global economy, (OECD, 2004)


1.3 Objective of the Study

The objectives of the study are;

  1. To provide and discuss the importance of globalization on small scale business.
  2. To highlight the purposes and benefit of globalization on small scale business survival.
  3. To make necessary suggestions for improving the performance of small scale business.
  4. Identify and discuss the problem and prospects of small scale business in the world.
  5. Discuss the importance of small-scale business in the global economic.

1.4 Research Hypotheses

For the successful completion of the study, the following research hypotheses were formulated by the researcher;

  1. H0: there are no purposes and benefit of globalization on small scale business survival.
    H1: there are purposes and benefit of globalization on small scale business survival.
  2. H02: there is no importance of small-scale business in the global economic
    H2: there is importance of small-scale business in the global economic

1.5 Significance of the Study

  1. The globalization ear present small scale business survival. The world over with both challenge and threat.
  2. The globalization also challenge underdeveloped to rise to the challenge before them.
  3. The globalization also support measures aimed at increasing small scale business competitive capabilities.
  4. To know the effectiveness of globalization on small scale business survival.

1.6 Definition of the Key Terms

i. Global:

It means the world.

ii. Globalization:

This can be defined as the net work of connection of organisation and people are across national, geographic and cultural borders and boundaries.

iii. International Economic:

This is dedicated to helping economic development, professional improve the quality of life.

iv. International Marketing:

This is a particular application of market concerned with developing and managing trade across international boundaries.

v. International Law:

This is the law that govern the interaction and relationship between national resulting from official rule treaties, agreement and custom.

vi. International Trade:

This can be defined as the exchange of good and services (trade) between people or firm in different nation.

vii. International Business:

This can be defined as any firm that engage in international trade or investment.


1.8 Organization of the Study

This research work is organized in five chapters, for easy understanding, as follows

  • Chapter one is concern with the introduction, which consist of the (overview, of the study), historical background, statement of problem, objectives of the study, research hypotheses, significance of the study, scope and limitation of the study, definition of terms and historical background of the study.
  • Chapter two highlights the theoretical framework on which the study is based, thus the review of related literature.
  • Chapter three deals on the research design and methodology adopted in the study.
  • Chapter four concentrate on the data collection and analysis and presentation of finding.
  • Chapter five gives summary, conclusion, and recommendations made of the study

Chapter Five


Summary, Conclusion and Recommendation

5.1 Introduction

It is important to ascertain that the objective of this study was to ascertain impact of globalization on small scale business survival. In the preceding chapter, the relevant data collected for this study were presented, critically analyzed and appropriate interpretation given. In this chapter, certain recommendations made which in the opinion of the researcher will be of benefits in addressing the challenges of impact of globalization on small scale business survival


5.2 Summary

This study was on impact of globalization on small scale business survival. Five objectives were raised which included: To provide and discuss the importance of globalization on small scale business, to highlight the purposes and benefit of globalization on small scale business survival, to make necessary suggestions for improving the performance of small scale business, identify and discuss the problem and prospects of small scale business in the world, discuss the importance of small-scale business in the global economic. In line with these objectives, two research hypotheses were formulated and two null hypotheses were posited. The total population for the study is 200 staff of National Bureau of Statistics (NBS), Abuja. The researcher used questionnaires as the instrument for the data collection. Descriptive Survey research design was adopted for this study. A total of 133 respondents made economists, statisticians, senior staff and junior officers were used for the study. The data collected were presented in tables and analyzed using simple percentages and frequencies


5.3 Conclusion

The study concludes that globalization has boosted the performance of SMEs in Nigeria positively. This may be as a result of deregulation exercise of key sectors by Nigerian federal government. The study therefore recommends that government should provide enabling environment for entrepreneurs to triumph in a global competitive environment. Also, entrepreneurs should be educated on importance of globalization which promotes the rapid innovation, new range of products and open up new economies. More importantly, Nigerians should be encouraged to patronize locally made products and services


5.3 Recommendation

Entrepreneurs should be educated on importance of globalization which promotes the rapid innovation, new range of products and open up new economies. More importantly, Nigerians should be encouraged to patronize locally made products and services


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