BACKGROUND OF THE STUDY
It is very important to note that in many developing countries like Nigeria, it is being argued that the small scale industries have not and cannot alone be expected to play the dynamic role that they are expected to play towards the rapid growth and development of the various segment of the country. It is therefore becoming even more important those countries that the small scale industries which had however been neglected could play a significant role in the quest of economic development.
In recognition of this fact, the Nigeria government had in the recent time play important role in promoting small scale business. This important role can be seen in various institutions that it had set up to promote small scale business activities in the country.
Government also in its quest to further develop and promote small scale business, have adopted favorable policies (monetary and fiscal that could aid small scale business in the country).
Small scale business is a catalyst that improve standard of living. It pointed out that our seventy percent (70%)of workforce in Nigeria earns their living of been employed in small scale business either directly or indirectly. It is on this role that small scale business is seen by the researcher of this work as a good channel through which government can efficiently alleviate poverty in the country. Apart from employees, the small scale enterprises are equally lifted from grass to grace through increase in capitalization, special drawings and dividends that are usually the goodies of entrepreneurs. The increase in revenue increases the purchasing power of the entrepreneurs in relation to their standard of living. In addition, the influx (flowing) of social and recreation facilities in response of the multiplication of small scale industries also help in the transformation of the lifestyle of the public generally.
There has been technological breakthrough by small scale enterprises in adoptive response in changing economic and social fortune of the masses in all ramifications. It generates the desired forward and backward and linkage required in holding a vibrant industrial base.
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