BELOW IS THE SAMPLE WORK DONE:
INTRODUCTION
The current stagnated growth, Economic Recession, Fluctuating Exchange Rate and Rising Inflation experienced in Nigeria has cause small scale businesses to face a lot of stress and difficulties in the economy. Since independence, in 1960, one of the problems we face in this country is the right formula for the development of the nation. Many people (experts) have at one point in time or the other criticized the various developments as myopic in planning and retrogressive in execution. Not until recently, importance has not been attached to the small scale sector of the economy. This we are witnessing a parasitic growth minus real development. Small scale enterprises are regarded as an organic part of viable structure for the attainment of meaningful economic development in a developing economy like Nigeria. They provide major economic activities through which goods and services necessary to satisfy human wants are produced for the society. business is the mainspring of modern life. Nigeria has over the years made various decrees to promote and protect Nigeria participation in all areas of the economy. Mainly the aspect that are within the competence of indigenous exploitation.
For instance, according to Nwoye, M.C. (1990: 216) says that the Nigeria enterprises promotion decree of 1972 and 1977 specifically Act No. 2, 1972, threw a great challenge to Nigeria business men and many companies to put on market Nigerians in their respective companies.
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In fact the desire to concentrate on developing the small indigenous sector has always been supported by and reflected in a wide range of policies, strategies and extent programme, in all development plans. Therefore, indigenization of business is political, economic and social necessity in every country. To have a desired result, it is essential to create suitable conditions for the development of local entrepreneurship mainly through technical and managerial assistance and easy access to capital. Thus, the success of this will result in generating employment as well as income for the populace. In this research, there is no doubt whatsoever that, the small scale and medium scale enterprises (the principal catalysis, thing or event that causes changes to happen) of entrepreneurship constitute the real fabric of a nation economy advancement of our great country “Nigeria” lies in dynamism and growth of small to medium scale enterprises (SME’s) is not an overstatement. At least this is the unanimous option of an economic conference at the instance of their bodies namely:
1. The Nigeria Institute of Social and Economic Research (Wiser)
2. The National Association of Small Scale (Research) Industries (NASSI)
3. Friennich Albert Foundation held in Lagos in 1989. Thus, this research project tries to indentify the effectiveness of managing small scale business, finding to know the problems and possible prospects of the small scale enterprises in Nigeria.
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For instance, according to Nwoye, M.C. (1990: 216) says that the Nigeria enterprises promotion decree of 1972 and 1977 specifically Act No. 2, 1972, threw a great challenge to Nigeria business men and many companies to put on market Nigerians in their respective companies.
[next]
In fact the desire to concentrate on developing the small indigenous sector has always been supported by and reflected in a wide range of policies, strategies and extent programme, in all development plans. Therefore, indigenization of business is political, economic and social necessity in every country. To have a desired result, it is essential to create suitable conditions for the development of local entrepreneurship mainly through technical and managerial assistance and easy access to capital. Thus, the success of this will result in generating employment as well as income for the populace. In this research, there is no doubt whatsoever that, the small scale and medium scale enterprises (the principal catalysis, thing or event that causes changes to happen) of entrepreneurship constitute the real fabric of a nation economy advancement of our great country “Nigeria” lies in dynamism and growth of small to medium scale enterprises (SME’s) is not an overstatement. At least this is the unanimous option of an economic conference at the instance of their bodies namely:
1. The Nigeria Institute of Social and Economic Research (Wiser)
2. The National Association of Small Scale (Research) Industries (NASSI)
3. Friennich Albert Foundation held in Lagos in 1989. Thus, this research project tries to indentify the effectiveness of managing small scale business, finding to know the problems and possible prospects of the small scale enterprises in Nigeria.
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1.1 BACKGROUND TO THE STUDY
The Nigeria economy, over the years has been caught up in a retracted recession. Most entrepreneurs operate below production capacity and many of small scale entrepreneurs found it very difficult, if not impossible to break even. In fact, productivity of most Nigeria enterprise is at lowest ebb. In most small scale enterprises, efficiency is almost nil.
There is also a great concern about the hid mortality rate in Agro-Allied and small scale business, which has been known to contribute immensely to the gross national product of the country.
In order to reverse this trend, government has taken a bold step by embarking on an investment programmes whereby small financial, technical and managerial assistance has been extended to them. Consequently, the most pressing challenge is the collective wisdom to ensure entrepreneurs the security of their small scale entrepreneurs with the government policies that will guarantee effective monitoring of their activities.
There is also a great concern about the hid mortality rate in Agro-Allied and small scale business, which has been known to contribute immensely to the gross national product of the country.
In order to reverse this trend, government has taken a bold step by embarking on an investment programmes whereby small financial, technical and managerial assistance has been extended to them. Consequently, the most pressing challenge is the collective wisdom to ensure entrepreneurs the security of their small scale entrepreneurs with the government policies that will guarantee effective monitoring of their activities.
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