The Impact Of Small Scale Industries On Economic Development Of Nigeria

Project and Seminar material for Accountancy

The Impact Of Small Scale Industries On Economic Development Of Nigeria


Abstract


The purpose of this study is to X-ray the impact of small scale industries on economic development of Nigeria. The study is to access contribution of small scale industries to the growth of Nigeria as well as the role of government enhancing the growth and development of small scale and medium scale industries. This lies in identifying the major problems confronting these enterprises, which is the issue of financing (funds).

Also the various sources of funds, which are available for the small and large scale entrepreneurs, are also highlighted. The study involves a field survey. The required data were collected through primary and secondary data. Secondary data were collected from textbook, newspaper, journals, seminar papers and other publications that dealt with related subjects, primary data were collected from various managers of small and large scale business


Table Of Contents


Preliminary Page(s)

  • Title page
  • Approval page
  • Dedication
  • Acknowledgement
  • Abstract
  • Table of contents

Chapter One

1.0 Introduction

  • 1.1 Background of the study
  • 1.2 Statement of the problem
  • 1.3 Objectives of the study
  • 1.4 Research questions
  • 1.5 Scope and limitation
  • 1.5 Significance of the study
  • 1.7 Definition of terms

Chapter Two

2.0 Literature Review

  • 2.1 What small scale industries is all about
  • 2.2 Characteristics of small scale business
  • 2.3 The role of small scale business
  • 2.4 The factor responsible for small scale business failure
  • 2.5 Management functions in small scale business
  • 2.6 Problems of small scale business/government participation in small scale business.

Chapter Three

3.0 Methodology

  • 3.1 Research design
  • 3.2 Source of data collection
  • 3.3 Population of the study
  • 3.4 Data collection instrument
  • 3.5 Sample technique

Chapter Four

4.0 Data Presentation Analysis and Interpretation

  • 4.1 Introduction
  • 4.2 Data analysis and interpretation

Chapter Five

5.0 Summary of Finding, Conclusion and Recommendation

  • 5.1 Summary of Finding
  • 5.2 Conclusion
  • 5.3 Recommendation
  • Bibliography
  • Appendix
  • Questionnaires

Chapter One


Introduction

Small scale business is important in our society because we depend on it for survival, we make contact with business every day because they provide us with our basic needs such as food, shelter and clothing. They also provide us with leisure recreation, entertainment and education.etc.

Many of us work with small scale business organization and therefore depend on them for our income general welfare. One can see that our society cannot do without small scale business in order for economic growth in our country government has creates special schemes aim at supporting small scale business as well as entrepreneur development. The SSICS Were crated or rather introduced in 1974 in all the then 12 stets existing and subsequently in the seven additional states that were created in 1976.

It was a system of marching grants whereby state government set up a credit or functional loan which made to small scale industries. The federal government was then required to the state government a sum equal to the amount state government put into credit scheme.

In 1980, the federal government moved away from this approach to a new system that was to be Nigeria bank for commerce and industry to introduce banking and to ensure even distribution of resources available to the scheme. Government participation in entrepreneurship in Nigeria should be seen as blessing and a way of encouraging and stimulating the economy.

Any nation where government employs greater percentage of labour force or majority of workers are dependent on government for wages and salaries are bound to have serious developmental problem.


1.1 Background Of The Study

The main objective of this study is to highlight some vital role or impacts small scale industries plays in the development of the Nigerian economic.

Another purpose is to provide a reference point to prospective research on small scale industries in Nigeria to the student and other researchers who are interested in knowing her small scale industries contributes in the economic development of Nigeria.


1.2 Statement Of The Problem

The economic activity performed by the various departments determines the survival of a nation. These activities are jointly performed by both government and businesses enterprise which in itself is developing into large and small scale industries in Nigeria.


1.3 Objective Of The Study

The research project seeks to achieve the following objectives:

  1. To examine the role of financial institutions in financing small scale industries.
  2. To identify the factors militating against the operation of banks towards the financing of the industries.
  3. To regulate activities as a way of participating industries.
  4. To create incentives to encourage private individuals to participate in small scale industries.

1.4 Research Questions

  1. In what way can you define small scale business in Nigeria?
  2. What do you consider to be the features of small scale industries in Nigeria?
  3. What factors contribute to the high rate of mortality of small industries in Nigeria?
  4. What do you consider to be the impact of entrepreneurship in a developing country like Nigeria?
  5. Explain the importance of feasibility study in small scale industries planning and financing management?
  6. Why do government participate in the development of small scale business and the effect?

1.5 Scopes And Limitation Of The Study.

In the course of carrying out this study. The researcher was faced with a lot of limitations many of the small scale business owners who were faced to faced to give reasonable information about their business were afraid. Some of them thought it was for tax assessment. It became a difficult task for the researcher to convince those about their institution telling them it’s for academic exercise only.

Some were not able to understand the questions being asked by the researcher. The researcher therefore took the pain to explain further essence of the study to them.


1.6 Significance Of The Study

Small scale industries plays a significant impact in the economic development of the nations especially Nigeria, it is because of our successive national development plans in Nigeria have emphasized on the importance of small scale business in rural areas as well as properly financed and manage.

Small scale industries has:

  1. Facilitate even development of the economy by dispensing business activities to the rural areas.
  2. It lends o diversification of economic infrastructure spread across the urban and rural areas, which will in turn help to change the rural urban draft with its attendant’s exile.
  3. Create higher employment opportunities in area like agriculture, industries, service or commercial sector.
  4. It leads to reduce management cost since technology is less complex and can be much managed without much dependence expatriating.

1.7 Definition Of Terms

Management:

This could be defined as the process which involves organizing controlling, coordinating, leading and directing members to achieve organizational goals.

Small Scale Business:

These are business which it’s sales turnover does not exceed N500, 000.

Government:

Is a group who are responsible for controlling a country or state.

Entrepreneurs:

Are men and women who courageous/alert visionary and are engaged into network of exchange that stimulate and promote economy.

Economy:

The relationship between production/fault and the supply of money in a particular country or religion.

Business:

The activity of making money through, buying or supplying of goods and services for money.

Development:

The gradual growth of smoothing so that it becomes more advanced, stronger etc.


Chapter Five


5.0 Summary Of Finding, Conclusion And Recommendation

The ultimate aim of any industry is profit making. This aim can be achieved among and other activities, hence it is aimed at liquidating the importance of government in regulating small scale business in Nigeria. Small scale business may not grow without government regulation and control.

Therefore, effort here made during these findings to know the problem of determining its roles, this roles needed by small scale business, such as providing funds, providing infrastructure, facilities using monetary and fiscal political aimed encouraging private business etc.

This importance of government in developing small-scale business cannot be neglected. This is because the goods and services bought are sold and of high degree of skill for conformity of business.

In the business sector, the establishment of smart scale business has resulted in the achievement of substantial benefit trough inventory management, value analysis, received stores and efficient co-ordination of material activities therefore it is important that government role in small scale business must be procured at the high of degree skills and for efficient and efficiency of it.


5.1 Summary Of Findings:

This study so far examined the performance of small scale business in Nigeria generally as stated already the study is essentially empirical and accordingly, the research design adopted by the researcher was the filed source.

It should be noted that because of the relationship the productivity of organization, there performance and effectiveness which was ingurigural earlier in the study. The study related them as affecting small scale business in Nigeria in view of the present economic situation.

Small businesses are found in all sector of the economy especially in commerce, agriculture and service. Therefore small scale business play a vital role in the economy of the country’s industries development when includes provision of employment development of indigenous entrepreneurship improving the value of gross domestic product engaging in mobilization of domestic savings with the economy and finally complement the big industrial set up.

Furthermore, workers in small scale business are not given job attention in terms of compensation and job satisfaction in order words it can be said that motivation is being neglected in small scale business.

Finally, businessmen have realized that need for small-scale business in their business but they are unaware of various technique of developing it.


5.2 Conclusion

In conclusion therefore, it is obvious that the role of small-scale business in the development of Nigeria study plays a very important role in the success or failure of small scale business it is therefore very necessary that entrepreneurs who is going into small business should first of all conduct or carry out feasibility study before embarking or commencing such before if this is done most small scale business organization will core out successful and this will reduce the rate of attribution in the area of business.


5.3 Recommendation

Culture which varies from country to country, and between communities determines the norm beliefs, wants, expectation and behaviors of people. This causes various in need, contents and structure, between communities and societies and of cause between small scale organizations Owerri.

Business organization in advanced or foreign contents is given theory of business operations here based on the findings of this study and in keeping with objective of the study,

The researcher makes the following recommendations:

  1. Business owners should emphasis on lack of demand.
  2. They should have adequate information about the market from all field of business.
  3. They should take into consideration high interest rate.
  4. They should adopt feasibility studies to identify and give solution to their problem.
  5. They should pay attention to managerial problem involved in their business.
  6. Business operators should strive to affects the awareness of competitive pressure.
  7. They should improve on the aspect of innovation and technology in their firms.
  8. They should strive harder to know the government constrain that will affect their business.
  9. They should lay emphasis on cash flow from the main source.
  10. They should apply feasibility studies in enhancing their objectives.

The Impact Of Small Scale Industries On Economic Development Of Nigeria


Project Material Download

3,000 Naira


The complete material will be sent to you in just 2 steps.

Quick & Simple…


Step One Purchase

Make payment of ₦3,000: through USSD Transfer, Bank Mobile App, ATM Transfer, or POS Transfer to:

Access Bank PlcAccount No.: 0811003731
Name: Samphina Academy
Account Type: Current

Or Click Here to pay with Debit Card

FOR CLIENTS OUTSIDE NIGERIA:
Click Here to pay with Debit Card ($15)
GHANA – Make Payment of 60 GHS to MTN MoMo, 0553978005, Douglas Osabutey 

  PAY WITH CRYPTOCURRENCY


Step Two Purchase

Send the following details through Text Message or WhatsApp Messenger | +234-8143831497

  • Payment Details 
  • Email Address 
  • The Impact Of Small Scale Industries On Economic Development Of Nigeria

The complete material will be sent to your email address after receiving your payment information | T & C Apply


  Contact Our Help Desk


You may also like:

⚠️ Need a different topic? Perform a quick search



Get A Complete Business Plan For Any Business In Nigeria

Business Plan for Businesses in Nigeria

  Business Plans in Nigeria


Disclaimer


This research material “The Impact Of Small Scale Industries On Economic Development Of Nigeria” is for research purposes and should be used as a guide in developing your research project / seminar work. For no reason should you copy word for word (verbatim) as samphina.com.ng will not be liable for any who copied the material.

The aim of providing this material is to reduce the stress of moving from one school library to another all in the name of searching for research materials. This service is legal because, all institutions permit their students to read previous projects, books, articles or papers while developing their own works. According to Austin Kleon “All creative work builds on what came before”.

samphina.com.ng is only providing this material “The Impact Of Small Scale Industries On Economic Development Of Nigeria” as a reference for your research. The paper should be used as a guide or framework for your own paper. The contents of this paper should be able to help you in generating new ideas and thoughts for your own research. Use it as a guidance purpose only.

Samphina Academy

Samphina Academy is an Online Educational Resource Center that is aimed at providing students with quality information and materials to aid them in succeeding in their academic pursuit.