- THE PROBLEMS AND PROSPECTS OF SMALL-SCALE INDUSTRIES IN NIGERIA
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TITLE SMALL-SCALE INDUSTRIES DEVELOPMENT: PROBLEMS AND PROSPECTS.
THIS RESEARCH IS AIMED AT SMALL-SCALE INDUSTRIES DEVELOPMENT IN
FINALLY, MY OPINION BASED ON THE FINDINGS OF THIS PROJECT, SMALL-SCALE BUSINESS IS THE MAINSTAY OF THE NIGERIAN ECONOMY, PROVIDING ALMOST SEVENTY PERCENT (70%) OF EMPLOYMENT TO THE SOCIETY IN THE
TABLE OF CONTENT
Table of content
List of Tables
1.1 Background of the study
1.2 Statement of problem
1.3 Purpose of the study
1.4 Significant of the study
1.5 Research questions
1.7 Scope of the study
1.8 Definition of terms
2.1 Brief Introduction
2.2 Review of current literature
2.3 Summary of Literature Review
BRIEF OUTLINE OF THE CHAPTER
3.1 Design of the study
3.2 Area of the study
3.3 Population of the study
3.4 Sample of the study
3.5 Instrument for data collection
3.6 Validation of the instrument
3.7 Distribution and retrieval of the instrument
3.8 Method of data analysis
PRESENTATION AND ANALYSIS OF DATA
BRIEF INTRODUCTION OF THE CHAPTER
4.1 Presentation and Interpretation of data according to Research questions and Hypothesis
4.3 Discussion of the findings
SUMMARY, CONCLUSION AND RECOMMENDATION
5.1 Summary of findings
5.4 Limitations of the study
5.5 Suggestion for further studies
Appendix A – Letter of Request
Appendix B - Questionnaire
LIST OF TABLES
Table 1: Do you think that the provision of infrastructure, power supply, availability of land will solve the problem of industrial development.
Table 2: Do you agree that government creation enabling environment such as allowing the importation of raw materials and given tax holding to industries among the solutions to the problems?
Table 3: Do you think that find can be obtained in the following sources to finance industrial development, bank loan, government grants loan, borrowing from friends or relatives and personal savings?
Table 4: Do you agree that skilled manpower will be attracted due to availability of funds?
Table 5: Do you consider the rural set-up of the industries as one of the problems of lack of skilled manpower.
Table 6: Do you see lack of skilled manpower as one of the problems militating against the development of industries in your area?
The dynamic role of small-scale industries as engine of growth in developing countries has long been recognized. According to Ukeje (2004:108). It’s accelerative effect in achieving macro-economic objectives such as full employment, income distribution development of local technology, as well as diffusion of management skills and stimulation of indigenous entrepreneurship has been well documented in economic literature. Their importance has become such as to make them a pivotal focus of economic development.
That was exactly what Nigeria did since the second national development (1974-1979) that is development jof industries, because they have seen the need to be self-reliance which will lead to genuine development and survival as well as improve the effective management of local resources, both human and materials.
Development of small-scale industries was encouraged in the document found in the third and fourth national development plan, with the aids of providing empowerment opportunities, management of local resources, thereby recording rural urban migration. The above plans emphasized that paying attention to agriculture, manufacturing, education, manpower development, Infrastructural facilities will improve the quality of life for average Nigerians
1.1 BACKGROUND OF THE STUDY
Economic history of various developed countries have shown that industrial revolution has been the led by small-scale industries which are indeed the bedrock of an industrial growth.
The industrial growth of the nation has no scientific approach. The planning in some measures did not analyze the backwardness in the economy. This is noted, as the various government did not provide adequate encouragement to industrial development of nation.
Before our economic problems, foreign capital was cheap and the business of importing and selling of finished products was most profitable. These importers generated excess liquidity and invested their funds making in acquisition of landed property. Investment was merely neglected because of tortuous process of establishing in
During the boom, therefore most industrial projects were sponsored by multinationals and the governments, small industries were neglected as there were little incentives in manufacturing at low level.
With the introduction of austerity measures and structural adjustment programme (SAP) import trade business become more difficult as many commodities were banned or put on license with high import tariff to conserve foreign funds and encourage local manufacturers.
Many businessmen therefore, started thinking of industrial ventures to produce their wares locally. Hence, the massive investment on small-scale business.
1.2 STATEMENT OF THE PROBLEM
i. Insufficient finance
ii. Low technical base enabling environment and logic supply.
iii. Lack of managerial expertise
iv. Communication difficulties
v. Inadequate infrastructures.
1.3 PURPOSE OF THE STUDY
i. To increase the capital accumulation of the indigenous entrepreneurs in
ii. To increase the dispersal of industries
iii. To improve the technological skills and capabilities available in the state.
iv. To motivate inter-local government area relationship through industrial products patronage.
v. To provide greater employment opportunities
1.4 SIGNIFICANCE OF THE STUDY
i. It will unveil some of the major problems facing the development of small-scale industries.
ii. To give the reader an overview of the problems, and the role developing small-scale industries play.
iii. To benefit both economists and students who may like to carryout further research.
iv. The findings and recommendations will be of great value to the small-scale industries as a way of improving and reducing such problems.
1.6 RESEARCH QUESTIONS
1. How much money did you start your business with?
2. Do you think you have really progress if you compare your initial with the amount you have now?
3. What type of business do you operate?
4. Do people patronize your industry very often?
5. How efficient are your staffs?
6. Do you think there will be need to employ more people in your industry?
Ho: Insufficient finance does not affect the development of small-scale in
H1: Insufficient finance affects the development of small-scale in
Ho: Lack of managerial skills does not affect the growth of small-scale industries in
H2: Lack of managerial skills affects the growth of small-scale industries in
Ho: Inadequate infrastructures does not affect small-scale industrial development in the state.
H3: Inadequate infrastructures affects small-scale industrial development in the state.
Ho: Low technical base does not affect the development of small-scale.
H4: Low technical base affects the development of small-scale.
1.8 SCOPE OF THE STUDY
This research work carried out in Awka and Nnewi in
1.9 DEFINITION OF TERMS
SMALL-SCALE: central bank of Nigeria (CBN) defines small-scale business as one which annual sales turnover is less than half a million Naira.
FINANCE: The initial capital used to start and maintain a business.
BUSINESS: Any organization established for economic purpose.
MANAGEMENT: The process of planning, organizing, directing and controlling the work done by members of an organization, utilizing available resources within the organization to achieve its main goal.
DEVELOPMENT: It has to do with the changes in positive direction in order to improve in a country.
OBJECTIVES: It is goal that has a comparative short life span and specific measurable achievement.
INDUSTRY: It is where raw materials are converted into finished goods, or it could be people and activities involved in producing a particular thing or services.
MANUFACTURING: It refers to industries that produce goods in large quantity in factories.
PROBLEM: It is a difficult situation