Small Scale Business As A Strategy For Entrepreneurship Development In Nigeria

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Small Scale Business As A Strategy For Entrepreneurship Development In Nigeria


Abstract


This study is on the small scale business as a strategy for entrepreneurship development in Nigeria. The total population for the study is 200 staff of selected small scale business in Nnewi, Anambra State. 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 managers, secretaries, sale representatives and junior staffs were used for the study. The data collected were presented in tables and analyzed using simple percentages and frequencies


Chapter One


1.0 Introduction

In every business there is a way of doing things or a system adopted by the firm in order to achieve its objectives and goal leads to their growth, which is also a means of promoting entrepreneur practice inNigeria.

This practical entrepreneur development in Nigeria is the main target of every nation and the impact of business to realise this growth is the subject of small scale business management.

For any business to work towards achieving any objectives it must work towards developing strategy which will be a guide to achieve the goal.

Strategy have been defined by many authors, Mr. Ojemba G. Agbo he defined strategy as a general programme of nation and a deployment of emphasis and resources towards the attainment of the overall objectives. It is defined by Kenneth and Hatter as a process by which an organisation formulates objective and is managed to achieve them .strategy is seen by another author as the pattern of objectives purposes or goal and major policies and plans for achieving these goals state in such a way as to define what business a company is in or to be in and the kind of company it is or to be (christerst Andrews and Bower). However, strategy is seen to be a planned skill in managing any affair or achieving any objective and this make small scale to be seen as a strategy for practical entrepreneur development. However many developing countries have failed to adopt this strategy owing to their belief that it is slow process of industrialization which may not be very computable with their desire to catch up with the industrialized countries. Many countries of the world that are advance in their industrial development consigning practical entrepreneur practice. Started with small scale business.

In Nigeria, both federal and state government are now placing much emphasis on the promotion of indigenous small scale business enterprises with a review to encouraging entrepreneurship.

A business is defined as a human organisation which produces and market product (target market) it aims to serve. It can take place anywhere and involve receiving and giving process. (Odo P.C.).

Monughton Etal in his introduction to business enterprises defined it as the sum total of those activities that have their main purpose of creating, maintaining and extension of a concern continue to exist because it earns profit or other benefit for it’s owner.

Defining what constitutes small scale business entrepreneurship bring out a lot of entrepreneur which varies from country to country, from institution to another but generally speaking a small scale business entrepreneur is independently owned and managed but is not dominant in it’s field of operation.

It is independently because it is wholly owned by an individual or party and managed by them without outside supervision on it’s management and extra case is taken in it’s management and this help in developing the economy of state and nation as a whole.


1.1 Background of the Study

Entrepreneurship started when people produces more products than they needed, as such they had to exchange these surpluses with others who wanted to dispose of their surpluses. For instance, if ca blacksmith produced more hoes that he had not but needed. May be needed some yams or goat etc, he would look for some one who needed his products to exchange with. By this way producers came to realise that they concentrate in their areas of production to produces more and then exchange with what they needed. So through this exchange of products, entrepreneurship started.

A typical Nigerian entrepreneur is a set made man who might he said have strong wholly to succeed, he might engage the services of other like friends, mates, in-laws etc to help him in his work or production. Through this way, Nigeria is in the olden days were engaged in entrepreneurship. Early entrepreneurship is characterized with production or manufacturing in which case, the producer most often started with a small capital, most of it from his own savings. Early entrepreneurship started with trade by barter even before the advent any form of money.

Modern entrepreneurship in Nigeria started with coming of the colonial masters, who brought in their wears and made Nigerians their middlemen. In this way, modern entrepreneurship was conceived.

One of the major factors that has in many was discover aged the flow of entrepreneurship development in Nigeria is the value system brought about by Forman education. For many decades formal education has been thee presence of the priviledge. With formal education, people had the opportunity of bring employed in the civil services.

The value system discouraged entrepreneurship in Nigeria for colonial masters to sale their goods because if Nigerians continue to be enterprising, they would not have had market for their goods. As such, the system made Nigerians to be dependent on the colonial masters to supply her with the needed products.

Again the contract between Nigerian entrepreneurs and foreign entrepreneurs during the colonial era was very detrimental and the competitive business strategy of the foreign entrepreneurs was ruinous and also against moral standards established by society. They did not adhere to the theory of live and lets live. For instance, the united Africans company (UAC) that was responsible for a substantial percentage of the import and export trade of Nigeria, had the policy of dealing directly with producers and refused to make use of the services of Nigeria entrepreneurs. The refusal of the expatriate to utilize the services of local businessmen inhibited their expansion and acquisition of necessary skills and attitude. Because of this, many eventually folded up. Those that folded built up a resentment against business which became very demoralizing to other prospective entrepreneurs.

But with more people being educated and the fact that government could no longer employ most school leavers, economic programmes to encourage individuals to go into private business and be self eliant were initiated (theodore Gieger etal in Nwalnnkwv u) (mrs. Ani, Nnenna B.).


1.2 Statement of the Problem

There have been concerted effort by the federal and state government to encourage young school leavers to enter into small scale business entrepreneurship development in Nigeria by establishing some banks, bodies and lending institutions who will be lending funds to young school leavers, consulting them on how to choose a particular business that will yield them much profit, and thereby bring an increase in our gross national product and creating self employment opportunity for themselves, in order to reduce crime growth rate in our country.

Apart from employment opportunity problem and the increase in our gross national product (GNP), it also accelerate the development of both the urban and rural areas. With more enterprises in the community mere infrastructural facilities are attracted, like good roads, electricity, they are able to better their standard of living and save for investment. All these, accelerate development both the urban and rural arena.

Without government encouraging practical entrepreneurship development in Nigeria economy, instead there will be violent occurrences here and there such stealing 419 and son on.

This study also intended to examine constraints encountered by small industries by small industries and affect of government policies on them.


1.4 Objective of the Study

The objectives of the study are;

  1. To ascertain the impact of small scale business to Nigeria development
  2. To ascertain the strategy used by small scale business to development Nigeria
  3. To ascertain the relationship between small scale business and Nigeria economy

1.5 Research Hypotheses

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

  1. H0: there is no impact of small scale business to Nigeria development
    H1: there is impact of small scale business to Nigeria development
  2. H02: there is no relationship between small scale business and Nigeria economy
    H2: there is relationship between small scale business and Nigeria economy

1.6 Significance of the Study

The study of a tremendous informant especially when one realise the contribution of small scale business to practical entrepreneurship development of rural areas and the nation in general. The government is becoming aware of this development as such any study or research work carried out in this refusal will encourage and promote the development of small scale business. The strategy of small scale business in Nnewi local government area is making everything possible to see that entrepreneurship practice survive in this country. To the writer, the study has renewed her determination to be self employed by running a small scale business ventures and generally broadened the knowledge and understanding of business Administration and management (BAM).


1.7 Scope and Limitation of the Study

The study was exclusively on practical entrepreneurship development. It was limited to small scale practical entrepreneurship development of business in Nnewi local government area. The small scale business industries used this study to review the area covered by practical entrepreneurship development such as bakery, furniture making, garri processing, poultry management, block making, kiosk and restaurants. All these entrepreneurship owned business scatters in Nnewi towns such as Oru, Otoro and uruagu town are known for their commercial business. The writer has restricted the study to these towns for easy and comprehensive study of practical entrepreneurship development. In Nnewi local government area, it is mainly on entrepreneur practicing town. It is thereby the small scale business entrepreneur that actually constitutes the backbone of the local government. The researcher encounters some constrain which limited the scope of the study;

a) Availability of Research Material:

The research material available to the researcher is insufficient, thereby limiting the study

b) Time:

The time frame allocated to the study does not enhance wider coverage as the researcher has to combine other academic activities and examinations with the study.

c) Organizational privacy:

Limited Access to the selected auditing firm makes it difficult to get all the necessary and required information concerning the activities.


1.8 Definition of Terms

Small Scale Business:

Sometimes called a small business, a small-scale enterprise is a business that employs a small number of workers and does not have a high volume of sales. Such enterprises are generally privately owned and operated sole proprietorships, corporations or partnerships.

Strategy:

Strategy is a high level plan to achieve one or more goals under conditions of uncertainty. In the sense of the “art of the general”, this included several subsets of skills including “tactics

Entrepreneurship:

Entrepreneurship is the process of designing, launching, and running a new business which is often initially a small business. The people who create these businesses are called entrepreneurs.

Development:

Development means to make something better than it was, to improve. Notice that development does not mean growth. We all grow as children, but then we reach a certain age and stop growing. However, we don’t stop developing just because we have stopped growing


1.9 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 on small scale business as a strategy for entrepreneurship development in Nigeria. 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 small scale business as a strategy for entrepreneurship development in Nigeria


5.2 Summary

This study was on small scale business as a strategy for entrepreneurship development in Nigeria. Three objectives were raised which included: To ascertain the impact of small scale business to Nigeria development, to ascertain the strategy used by small scale business to development Nigeria, to ascertain the relationship between small scale business and Nigeria economy. 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 selected small scale business in Nnewi, Anambra State. 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 managers, secretaries, sale representatives and junior staffs were used for the study. The data collected were presented in tables and analyzed using simple percentages and frequencies


5.3 Conclusion

Entrepreneurship and small business are drivers of economic growth and development. Considering the rate of poverty, unemployment, low income, illiteracy and so on and abundant human and mineral resources as stated above, there is no reason why Nigerian should be poor with high rate of unemployment where the majority live on less than $156 per day. It is clear that nations like the Group 6 (G6): USA, Japan, Germany, UK, France and Italy had invested in small business and entrepreneurship development devoid of corruption and are today rich nations with high GDP per capita. Government intervention strategies to stimulate the growth and development of MSMEs are laudable programs directed at poverty reduction and wealth creation. Borrowing a leaf from other countries with similar background, it is hope that these strategies, if effectively pursued, would go a long way in ameliorating the suffering of the people of Nigeria. The programs will further provide employment and business opportunities and access to credit facilities to established more business and also become successful entrepreneurs and business men and women whose products and service would be competitive globally


5.4 Recommendation

  1. Government should intensify war against corruption. As noted above, corruption in Nigeria is almost legalized. It takes place under the ‘watchful eyes’ of government officials, it cut across all the hierarchy of government establishment and the organized private sector. As observed earlier, corruption appears to be ‘‘business as usual’’ even at burials, as committee members are more interested in sharing money and materials illegally than burying the dead. The organs of government responsible for trying corrupt people: Economic and Financial Crimes Commission (EFCC), Code of Conduct Bureau, Independent Corrupt Practices and Related Offence Commission (ICPC), the Judiciary, the Police, Members of both the State and National Assemblies, the Executive Councils at State and National levels and so on should be ethical, honest and demonstrate best practices and good governance in the discharge of their duties. Corrupt people should be summarily tried and if found guilty, be punished instantly and accordingly as the law stipulates.
  2. Funds provided by government, donors and banks should be properly channeled to MSMEs and effectively monitored to avoid diversion. World financial institutions and the richer nations can be approached for more funding. The granting of additional funds may depend on how prudent the previous funds were utilized

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