The Role Of Small Scale Business On The Economic Development In Nigeria (A Case Study Of Alaba International Marketing)
This study, sets to investigate the role of small scale enterprise on the economic development in Nigeria. The introduction part of this study is contained in chapter one, extensively dealt with the purpose of the study. Enumeration of problem in small scale business in Nigeria.
In Chapter two, literatures related to the study are reviewed. The review dealt basically with the historical background of Alaba International Market, meaning, problem, planning and launching of
small scale business in Nigeriae.t.c.
Chapter three was devoted for questionnaire design and research methodology. The questionnaire contains fifteen questions. Chapter four deals with data analysis including the best of hypothesis. Three hypothesis were tested to draw conclusion about the research work.
The hypothesis are:
Small business enterprises play vital role in economic development small business enterprise create job in the economic development small business enterprise in market are the engine of economic development.
Chapter five embrace summary of finding, conclusions arrived at and recommendation base on the findings.
Table of Contents
- 1.1 Background of the study
- 1.2 Statement of the problem
- 1.3 Objectives of the Study
- 1.4 Research Questions
- 1.5 Research hypotheses
- 1.6 Scope of the study
- 1.7 Limitation of the study
- 1.8 Significance of the study
- 2.0 Introduction
- 2.1 Historical origin of Alaba International market
- 2.2 Definition of small business enterprise
- 2.3 Types of small business enterprise
- 2.4 Role of small business enterprise
- 2.5 Problems of small business enterprises failure in Nigeria
- 2.6 Planning and launching of small business enterprises in trade fair
- 2.7 Marketing problems of small business enterprises in Nigeria
- 2.8 The Nigeria government participation in small business enterprise
- 3.1 Introduction
- 3.2 Restatement of Research Question
- 3.3 Restatement of Research Hypothesis
- 3.4 Research Design
- 3.5 Population of the Study
- 3.6 Sampling Method
- 3.7 Sample Size
- 3.8 Source of Data
- 3.9 Data Analysis Methods
- 3.10 Validity and Reliability
- 3.11 Limitation of the Study
Data Analysis, Presentation and Interpretation
- 4.1 Introduction
- 4.2 Analysis of Age
- 4.3 Operational Data
- 4.4 Test of Hypothesis Testing
- 4.5 Step in Hypothesis Testing
- 4.6 Discussion of Findings
Summary, Conclusions and Recommendation
- 5.1 Introduction
- 5.2 Summary of Findings
- 5.3 Conclusion
- 5.4 Recommendation
- 5.5 Suggestion for Further Studies
1.1 Background of the Study
The impact of Small Scale Enterprises to the development cannot be neglected in every economy, more especially developing nations where sustainable economic development is highly desirable small business enterprises have such a crucial impact to play in the development of an economy in such a way that they cannot be ignore.
According to Osuagwu (2001) small business enterprises involves the use of human and non-human resources towards the achievement of set goals and objectives. Small business enterprises should form one of the development objectives they can serve as a source of impact for multinational, thereby replacing existing foreign resources, they are also training ground for local skill ensuring a more equitable distribution of income and reducing the migrating of manpower from the rural to the urban areas.
Small scale enterprises are crucial for economic growth, poverty alleviation and wealth creation. In an economy like Nigeria, small business enterprises has always been faced with credibility problems, planners experience frustrations when they make their forecast because they did not come out as forecast while no business planners would dream of claiming :n fallibility the crucial things among the business planner is not :or internal prediction are right or wrong but what the forecast is able to produce.
Economic history is well stocked with enough it sights into the humble beginnings of present great corporation, evidence abound that almost all of the multinational giant corporation in America Europe and even Nigeria were cottage enterprises, growing as their industry grew and through their own sheer ability, marketing skills, and effort to reproduce and produce existing products better cheaply. Japan’s economy was dominated by traditional industries, cottage firms and by many SMEs, who drew their strength, not only from the abundance of capital, but from the role of marketing in guaranteeing the growth of small scale enterprise.
Small scale enterprises contributed greatly to Nigerians development by the provision of employment, marketing of goods and services and the growth and development of the rural areas. Ithas also brought about the growth of indigenous entrepreneurship in Nigeria.
1.2 Statement Of Problem
The ineffective and inefficient performance of small scale enterprises as a result of poor environmental forces in Nigeria necessitated this research. It is important to note that all other management factors considered, the success or failure of organization small scale enterprise is heavily dependent on environmental influences.
Poor or inadequate knowledge of the operating environment of small scale enterprise adversely affects the performance,survival, growth and eventual success of small scale business enterprises.
1.3 Objectives Of The Study
- The extent to which is necessary for the government to support the small and medium scale enterprises.
- Examine the effectiveness and ineffectiveness of the various government or environmental issues like financial institutions; power sectors and level of corruption in the stage.
- To determine the role and importance of small and medium scale enterprises in the economic development.
1.4 Research Questions
In order to achieve the objectives of this research study, the research study will attempt to provide answer to the following research questions:
- What are the roles of small and medium scale enterprises on an economic development?
- How does small and medium scale enterprises create job in economic development?
- Are small medium scale enterprise in the market the engine of economic development?
- Howe does small and medium scale enterprises improve the standard of living?
1.5 Research Hypothesis
Testing the following hypothesis will provide answers to the research questions:
- Ho: Small scale enterprise does not play any role in the economy development
Hi: Small scale enterprise plays a vital role in tie economy development
- Ho: Small scale enterprises does not create job opportunities in the economy development.
Hi: Small scale enterprise creates job opportunities in the economy development.
- Ho: Small scale enterprise in the market are no: the engine of economy development.
Hi: Small scale enterprise in the market are the engine of economy development.
1.6 Scope Of The Study
The research work will cover the role of small scale on the economic development the scope of this research will be limited to small scale enterprise in Alaba International Market.
1.7 Limitations Of The Study
These are the constraints on the research work:
When research work suffers from insufficient fund to execute, it affects smoothness of the research work.
In a situation where the time available for the research work is short, this limits the effectiveness of collecting and analyzing the research data.
The research work can be negatively affected where the experts and the others concern are not readily responding adequately on the research work.
1.8 Significance Of Study
This research work has the following significance:
- The study will be useful to the government for job creation.
- It will be useful to Nigerians who intends to evaluate the roles played by small scale enterprise on economy development.
- The research equally be a good reference material for future research on the topic.
Summary, Conclusion and Recommendations
In this chapter, the comprehension summary is based on the findings which will allow the recommendation to be made on the role of small scale business on the economic development in Nigeria.
5.2 Summary of Findings
This research work is designed to identify the role of small scale enterprises on the economic development. They are stated below.
- The first chapter of the research study showed light on the introduction, statement of problem, purpose of the study, research question, hypothesis, significance of study, scope of the study, limitations of the study.
- The second chapter of this study deals framework for the researcher area of importance where extensively deal with, in this chapter such are as include, introduction, historical background of small business enterprises, definition of small business enterprises, types of with theoretical small business enterprises, roles of small business enterprises, causes of small business enterprise3 failure in Nigeria, marketing management problems of small business enterprises, canning and launching of small business and the Nigerian government participation in small scale business.
- The third chapter discussed through the method and design used in conducting this research projects. It express us to restatement of research hypothesis and research question, sample, method of gathering data, data analysis.
- The fourth chapter deals with the presentation and analysis of the data collected this study as well as findings of the research. The data gathered for this study were arranged in tabular form, expressed in percentage (%) and chi-squares method to test there search hypothesis. The major findings in this chapter are expressed as follows.
- Small business enterprises plays a vital role on economic development
- Small business enterprises creates job in the economic development
- Small business enterprises in the mark—t are the engines of economic development.
The conclusion drawn from this research work shows that small business enterprises play a major role in the economic development of a country.
Furthermore, it is needless to reiterate that small business enterprises have been found useful in many countries of the world and their development should be highly developed. They optimally utilize local input and tend to be more labour intensive in their production processes. They easily absorb surplus labour especially from the small business sector.
- Small business enterprises generally contribute to the rapid development in the society, small business enterprises is also useful in the areas of reducing congestion in urban areas; drift by supporting immobility and removes pressure from land.
- Entrepreneurship in an economy; however, to reap from these benefit, entrepreneurship management must be very effective in taking cognizance of the numerous environmental reducing rural-urban territorial factor that influential the performance and activities of these small and medium scale enterprises. They :rust take productive measures to adapt to these environments.
The problems facing small and medium scale enterprises as a role in economic development highlighted earlier can be grouped into two major parts viz the management (technical ability) and the government.
1. The Management
Problem related to management arise from entrepreneur -limited education and training, limited knowledge in project planning and appraisal and little or no exposure to modern technology. Also problem of organized market survey and product distribution channel, poor environmental perception suggested solution drawn from the result of the data are as follows.
- The high rate of failure among entrepreneurship due to poor management that are success bound to poor management that are success bound should endeavour to invest in themselves in terms of acquiring the necessary skills; education and training to successfully manage.
- The use of experts; which permits the distribute in between owner and manager should be highly encouraged.
- To meet up with the contemporary global challenges, entrepreneur should upgrade their knowledge in the usage of modern technology.
2. The Government
- In countries where entrepreneurship development have made rapid progress; they have been directly or indirectly assisted by the government. This could be achieved through the establishment of department for small and medium scale enterprises for small business administrator which will assist small firms in arranging finances and dealing with management.
- The appropriate business enterprises that support entrepreneur training and development in academic institution should be matter of exigency.
- In most advanced countries where entrepreneurship have faired well, government had taken the bold step of periodically organizing technical training and development of curriculum that support small scale created as a entrepreneurs. This will be in the areas of b-hiding the necessary entrepreneurial skills, and potential updating them in the modern trend of doing business.
5.5 Suggestion for Further Studies
To provide an in-depth knowledge of small and medium operation, survival and success in addition to those necessary factor needed to encourage the sustainable growth and development of small and medium scale enterprise in the country the following suggestion into further areas of study are as follows:
The effect of supportive policies and protectionist measures as necessary ingredient for entrepreneurs development.
Since the government plays an important part in entrepreneurship success, study should be made into the government role as agent of small and medium scale enterprises growth and development.
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