ABSTRACT
The topic of
this research work is geared towards the impact of small business in Enugu
Urban Area of Enugu state. The aim of this study is to examine and identify in
detail the problems, prospects, effects and the importance of the development
of small business in the area under study. This work has five chapters, with
each chapter focusing in a specific objective. Chapter one talks on a brief
history of small scale business, chapter two highlights other researcher’s work
on small scale business in Enugu Urban Area, past reforms aimed at small scale
businesses and problems encountered by small scale business. The exploratory
research method was used in the course of the research. Chapter four interprets
data analysis gathered using percentages and chi-square techniques. Small scale
firms are not given the desired as well as required attention by government and
its agencies hence favorable conditions (like helpful
government policies and adequate supply of capital) are needed for the growth
of the small business as they are an integral part of economic growth
and development of any nation.
TABLE OF CONTENT
Title page
Abstract
Table of Content
CHAPTER 1: INTRODUCTION
1.1 Background
of study
1.2 Statement
of the problem
1.3 Objectives
of the study
1.4 Research
questions
1.5 Research
Hypothesis
1.6 Significance
of the study
1.7 Scope
of the study
1.8 Limitation
of the study
Reference
CHAPTER 2: LITERATURE
REVIEW
2.1 Overview
of small scale business
2.2 Conceptual
framework
2.3 Theoretical
framework
2.4 Review
of past reforms aimed at rural development
2.5 Problems encountered by small scale
business in Enugu and Nigeria as a whole
CHAPTER 3:
RESEARCH METHODOLOGY
3.1 Introduction
3.2 Research
design
3.3 Sources
of data
3.4 Data
analysis
3.5 Population
of study
3.6 Sample
design and determination of sample size
3.7 Assumptions
of CHI Square
Reference
CHAPTER 4: DATA PRESENTATION,
ANALYSIS AND INTERPRETATION
4.1 Introduction
4.2 Analysis and presentation of data from
four (4) branches of Hians Technology Limited
4.3 Testing of research hypothesis and
interpretation
CHAPTER 5: SUMMARY OF FINDINGS, CONCLUSION AND
RECOMMENDATION
5.1 Introduction
5.2 Summary
of findings
5.3 Conclusion
5.4 Recommendation
5.5 Recommendation
for further studies
Bibliography
Appendix
CHAPTER ONE
INTRODUCTION
1.1 Background of
the Study
The sub-sectors of the industrial sector are the Small and
Medium Scale Enterprises which play crucial roles in industrial development
(Ahmed S. 2006). Sequel to the adoption of Economic reform programme in Nigeria
in 1981, there have been several decisions to switch from large scale
industrial projects and capital intensive which was based on the import
development philosophy to Small and Medium Scale Enterprises which have better
prospects for developing domestic economy, thereby generating the required
goods and services that will propel the economy of Nigeria towards development.
Most of the world renowned companies and organizations started as a small scale
business with skills and efforts they grew up to the conglomerated and
multinational companies of today. Small scale business occupies a unique
position in the economy of any nature and they are the bedrock of any economic
development. They constitute of the cornerstone of any competitive economy and
by far outnumber the large scale business. Also, they provide large scale
business, more fertile ground for creativity and entrepreneurship. Hence, as a
result of easy entry into the market, small scale business spring up all the
time keeping the competition environment lively, a phenomenon that leads to
productivity gains and real economic growth, apart from the fact that they
generate employment opportunities, they are closer to the grass root and so on,
ginger rural development. They are less capital intensive and do not require
gigantic infrastructure for their operation. Being part of the economic
system, small business entities are faced with numerous problems, particularly
funding and many ways these are very different from the financial problems on
large concern. However, the principles underlying financial decision are
similar irrespective of the size of the business, hence, the basic goal so
financial management through acquisition, anticipation and allocation of funds
equally apply to small scale business. It is widely known in business circles
that small scale business find it difficult to secure funds from financial
institutions due to the fact that they have difficulty in meeting the
collateral requirement that would qualify them for the financial assistance
from the back. This is not withstanding every business whether small or large
needs funds. Funds constitute the life blood of any business while other things
follow. Small scale business serves as an engine room for economic
development and government recognize the fact that small business is the second
largest employers of labor apart from government. Government is also
encouraging the establishment of small scale business by forming such bodies
like Small and Medium Enterprises (SME). For instance, in any depressed
unemployment is the increase, where the available resources are under-utilized
and where raw-material supply to our big industries is inadequate,
establishment of small scale business is considered as an alternative means of
earning a living and providing raw-materials to our big industries.
1.2 Statement
of the Problem
There is no doubt that small and medium scale enterprises are
the principal catalyst of entrepreneurship and it constitute the real fabric of
nation’s economy. And to say that the present and future economic advancement
of this out great country- Nigeria lies in the dynamics and growth of the Small
and Medium Scale (SME) is not an overstatement.
SMEs constitute a vital force to economic growth and
development (Onuoha 1994:1). Economic development is a nation-wide problem
which the small scale industries are capable of solving effectively these
includes:
1.
Development of raw materials
2.
Sourcing of raw materials
3.
Providing training venues for workers and students
on industrial attachment.
4.
Problems of capital for large establishment
5.
Unemployment
In
the light of the above mentioned problems, the fact that small scale business
are vital for economic development of any country, state or local government
and numerous problems which small scale business are capable of solving
motivated me to research or write on this topic.
1.3 Objective
of the Study
The
study intends to investigate various problems associated with the development
of small scale business enterprise in Enugu Urban Area such as:
1. To
discover and determine the factors militating against the growth and
development of small scale businesses in Enugu urban area.
2. To
determine if Government render financial assistance to small scale business in
Enugu Urban
3. To
ascertain and examine the management practice and sources of fund whether
government policies/assistance, manpower and provision of capital have any
influence on the entrepreneur in the growth of small scale industries.
4. To
make recommendation based on the findings which will be of great help to
potential entrepreneurs
1.4 Research Question
To solve the research problems, the following questions will be
asked:
1.
What are the factors
militating against the growth and development of small scale businesses in
Enugu Urban Area?
2.
Does government render
financial assistance to small scale businesses?
3. What is the nature and extent of Enugu State Government control
assistance/policies over Small Scale Businesses?
1.5 Research Hypothesis
Research
hypothesis is a tentative answer to a set of research questions. It can be
summed as intelligent guesses as answers without evidences to the problems of
research under investigation. Considering the nature of this research, the
following hypotheses are proposed in their Null (H0) and alternative (H1) forms
would be pursued to arrive at our conclusions and recommendations.
For the successful completion of the study, the following
research hypotheses were formulated by the researcher;
1.
H0: Small scale businesses
do not have any factor militating against its growth and development in Enugu
Urban area.
H1: Small scale businesses do factor militating against its growth
and development in Enugu Urban area.
2.
H0: The growth of
small scale businesses do not depend on government policies/assistance in
Enugu.
H1: The
growth of small scale businesses depend on government policies/assistance in
Enugu.
3.
H0: Government does not have
any position towards assisting, promoting and stabilizing small scale business
in other to unlock value chain approaches to Enugu urban economic boom.
H1: Government does have any position towards assisting, promoting
and stabilizing small scale business in other to unlock value chain approaches
to Enugu urban economic boom.
1.6 Significance
of The Study
This study is very beneficial to
groups of people such as:
1. The small scale entrepreneur as it will help them to know how to solve the economic problems.
1. The small scale entrepreneur as it will help them to know how to solve the economic problems.
2. Student of business studies of
higher institutions of learning as this will serve as reference work and guide
for further research work.
3. The state government as this
will enable them to know the roles in which the small business played in the
development of the state.
4. The state government will
through this study know the problems facing the small scale business and the
suggested solutions
1.7 Scope Of The Study
This research intends to consider the development
of small scale business in Enugu State (Hians Technology Limited). The study
would also highlight a wider view of problems encountered by small scale
business in Enugu State and make recommendation on findings.
1.8 Limitation Of The Study
The study covers effects of small
scale business on the economic development of Enugu State. The researcher
encounters some constraints 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.
DEFINITION OF TERMS
Small scale business: A
small scale enterprise is a privately owned and operated business,
characterized by a small number of employees and low turnover. A small
enterprise usually only shares a tiny segment of the market it operates in.
Entrepreneur: This is someone who exercises initiative by organizing a venture to take benefit of an opportunity and, as the decision maker, decides what, how, and how much of a good or service will be produced.
Entrepreneur: This is someone who exercises initiative by organizing a venture to take benefit of an opportunity and, as the decision maker, decides what, how, and how much of a good or service will be produced.
Capital: This
is the amount of money required to carry out a particular venture and pay all
the financial obligation of the business. Development: This is the process
or the ability to make something to be advance or organize for the benefit of
all sundry.
Economic
development: This is the
process by which a nation improves the economic, political and social
well-being of its people.
REFERENCES
Ahmed
S. A.(2006), The role of SMEs in
Developing Economy, Abuja, Omotayo and co.ltd.
Allbusiness.com,
(2010)
http://www.businessdictionary.com/definition/entrepreneur.html
Ojo O. (2009), Impact of Micro Finance on Entrepreneurial
Development: A case of Nigeria. A paper presented at the International
Conference on economic and administration, organized by the faculty of
Administration and Business, University of Bucharest, Romania, 14th -15th
November, 2009.
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