+234 813 0686 500
+234 809 3423 853
info@grossarchive.com

THE ROLE OF FEDERAL GOVERNMENT IN THE PROMOTION OF SMALL SCALE BUSINESS IN NIGERIA

  • Type:Project
  • Chapters:5
  • Pages:77
  • Format:Microsoft Word
(Business Administration and Management Project Topics & Materials)

                  THE ROLE OF FEDERAL GOVERNMENT IN THE PROMOTION OF SMALL SCALE BUSINESS IN NIGERIA

CHAPTER ONE

1.0      INTRODUCTION

Small and medium scale business constitute an important component of the Nigerian industrial sector. The importance of this sector cannot be over emphasized, especially in a typical developing country like ours where the level of youth unemployment is rising beyond control. Hence small and medium scale industries generate employment opportunities per unit of capital investment because they are generally more labour intensive which are more capital in nature. A large scale industry that cost N20million for instance, may employ a mere 70 (seventy) workers or less. Where as a small and medium scale industry that cost just N150,000 (one hundred and fifty thousand naira) may employ about 20-30 workers.

Small and medium scale business specialized in the production and marketing of various products and services ranging from food, beverages, drinks/sachet water, cosmetics, spare parts and many others.

Kilby (1969) acknowledge the diversity of terms of the degree of specialization and division of labour and the quantity of raw materials and output and the character of markets being served by small and medium scale businesses. As a result the bulk of Nigerian business falls within the small and medium scale business which account for over 80% of the number of enterprises in the country. (Ekunna 1992 Pg.160)

Several number of small and medium scale business are successful while other fail or are staggering for survival due to poor background management, lack of qualified manpower, poor capital base, lack of marketing research and appropriate technology and credit rating among banks and other lenders. These problems continue to militate against the establishment, survival and growth of small and medium scale business in Nigeria. Although successful government in Nigeria have been emphasizing on the importance of small and medium scale business and have established institutional support agencies to facilitate industrialization.

However, small and medium scale business still operate in uncertainty and are faced with serious obstacles, this raises the questions of whether  the federal government is actually up to the responsibility in the promotion of small and medium scale business in Nigeria.

1.1      OBJECTIVE OF THE ESSAY

The main objectives of this study is to evaluate the impact of federal government in the promotion of small and medium scale business in Nigeria. This study will specially seek to achieve the following:

a.   To evaluate the marketing challenges facing small and medium scale businesses.

b.  To identify the sources of funds to the activities of the industry.

c.   To find out the extent of government involvement in  promoting the activities of the business.

d.  To bring to light the contribution of the industry to the development of national diploma in marketing.

Finally, it is myhope that the students of marketing and others in related discipline will find this study very informative and useful tool in their respective studies.

1.2      SCOPE OF THE STUDY

As the title of this essay indicates, the study focuses its attention to federal government support to small and medium scale business enterprises in Nigeria, it causes various policy, guidelines, direct and indirect financial assistance and other programs and initiatives designed to promote this vital sector of the country.

1.3      SIGNIFICANCE OF THE ESSAY

The significance of this study lies basically on its contribution to knowledge and its benefits to individual and organization. The current economic crises in Nigeria has deciminated the growth of infant industries and encourages the establishment of similar business venture in both small and large scale proportions.

Although successful governments have vowed to support individuals and group initiatives in the establishment of small and medium scale businesses.

The current state of most small and medium scale business in Nigeria is a far cry particularly when structural adjustment programme (SAP) was introduced, which brought about the problem of devaluation of the naira and the scarcity of foreign exchange of raw materials from abroad which has adversely affected production unit especially under a depressed economy.

This study is an attempt to evaluate the role of government in the promotion of small and medium scale business in Nigeria as a country.

1.4      DEFINITION OF TERMS

The following terms and abbreviations used in the extended essay are defined below:

a)   (SSICS) Small and medium scale Industries Credit Scheme

(SME)  Enterprises

(NIDB) Nigerian Industrial Development Bank

(NERFUND) National Economic Reconstruction Fund

(NDE) National Directorate of Employment

b)  Small and medium scale enterprise: Apart from size, it is a type of business that is self initiated, largely self financial, closely self managed and is of relatively small in size when considered as part of the industry.

c)   Management: Is the part of loaning organizing, directing and motivating others so as to enhance productivity with maximum utilization of available resources and achieving the organizational goals or objectives.

d)  Resources: These are the primary inputs that needs to be put together into function before the proper management activities really take place. These activities include; men, materials , money and machines.

e)   Enterprises: This is one of the fundamental principles of management that is concerned with the division of labour and assigning of responsibilities with authority for the well being of business unit.


Share This

Details

Type Project
Department Business Administration and Management
Project ID BAM1196
Price ₦3,000 ($9)
Chapters 5 Chapters
No of Pages 77 Pages
Format Microsoft Word

500
Leave a comment...

    Details

    Type Project
    Department Business Administration and Management
    Project ID BAM1196
    Price ₦3,000 ($9)
    Chapters 5 Chapters
    No of Pages 77 Pages
    Format Microsoft Word

    Related Works

    CHAPTER ONE INTRODUCTION Small and medium scale business constitute an important component of the Nigerian industrial sector. The importance of this sector cannot be over emphasized, especially in a typical developing country like ours where the level of youth unemployment is rising beyond control. Hence small and medium scale industries generate... Continue Reading
    CHAPTER ONE INTRODUCTION Small scale business constitute an important component of the Nigerian industrial sector. The importance of this sector cannot be over emphasized, especially in a typical developing country like ours where the... Continue Reading
        CHAPTER ONE INTRODUCTION 1.1 BACKGROUND TO THE STUDY The production of goods and services in the most efficient manner has continued to be the only viable and reliable option for development, growth and survival of any economy.... Continue Reading
    ABSTRACT The study of the Role of small scale Business in jog Generation Nigeria (a survey of Oshodi/Isolo LGA of Lagos State) was carried out to assess the extent of job generation through small scale businesses in Nigeria. Descriptive research methods was employed in carrying out the study. The population of the study was 1, 113,000. A sample... Continue Reading
    (A CASE STUDY OF ALABA INTERNATIONAL MARKETING) ABSTRACT 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.... Continue Reading
    THE ROLE OF SMALL SCALE BUSINESS IN INDUSTRIAL TECHNOLOGICAL DEVELOPMENT  OF NIGERIA (A case study of PZ Nigeria limited Isolo) ABSTRACT This research work highlights the role of Small Scale business in industrial technological development of Nigeria. The industry used as Case Study is Pz Nigeria Limited, Isolo, Lagos. With the necessary... Continue Reading
    CHAPTER ONE INTRODUCTION 1.1.          BACKGROUND TO THE STUDY Accounting information is a part and parcel of today’s life which is necessary to understand the accurate financial situation of the organization and used as the basis of making strategic decisions. Accounting plays a critical role in the success or failure of contemporary... Continue Reading
    ABSTRACT   This research work was on “the impact of government policies on small business development in Nigeria with reference to ministry of cooperate affair commission, Enugu state”. The study scrutinizes the problems and contribution small scale business in Enugu state and the role it played in the overall employment generation of the... Continue Reading
      CHAPTER ONE INTRODUCTION 1.1   BACKGROUND TO THE STUDY         Policy is defined in the Merriam-Webster Online Dictionary as a definite course or method of action selected from among alternatives to guide and determine present and future... Continue Reading
    ABSTRACT The topic of dissertation is financing small scale business in Nigeria, the role of union bank of Nigeria plc. The major objective of the study is to ascertain the extent to which union bank of Nigeria plc has helped to financial small scale businesses.... Continue Reading