Select Currency
Translate this page

CONTRIBUTIONS OF SMALL SCALE BUSINESS ENTERPRISES TO THE ECONOMIC GROWTH AND DEVELOPMENT

Format: MS WORD  |  Chapter: 1-5  |  Pages: 67  |  906 Users found this project useful  |  Price NGN3,000

GET THE COMPLETE PROJECT

CONTRIBUTIONS OF SMALL SCALE BUSINESS ENTERPRISES TO THE ECONOMIC GROWTH AND DEVELOPMENT

 

CHAPTER ONE

INTRODUCTION

Background to the Study

In recent times, the fortune of small scale business enterprises attracted the government world wide and this has been the focus of general interest and research, especially in developing countries due to the importance of small scale business enterprises. Their importance cannot be over emphasized as they contribute a whole virile vehicle for the generation of vast   outputs and job creation. They also act as catalyst for restructuring and diversifying the production base of the economy of the state and the country   at large and for the industrial economy take off and growth of such economy. Small scale business enterprises in their widest sense imply the urgent response to the challenges faced by the state   which operate under a developing country (Nigeria). Small Scale businesses should be practiced with due regards to the importance of available local raw materials in its environs because the challenges facing small and medium scale businesses are enormous.

The importance of small scale business enterprises to the economics development of any state, have been widely acknowledged or acclaimed. They are considered as stimulant to private ownership and entrepreneurial skills, generate employments, promote Industrial dispersal and rural –urban migration. Clive Carpenter (2001), said that across the world, small businesses are crucial for economic growth, poverty alleviation and wealth creation, Uayatudeen (2011) said that across the world, small businesses have such a crucial role to play in the development of an economy and that cannot be ignored. According to William and David, most firms and small scale businesses are compared with companies that economist have concentrated on large scale enterprises. The leading text books in economics have titled discussions on small scale business or entrepreneur.

The partial combinations of small scale businesses to the development of Akwa Ibom State economy are creation of wealth, poverty eradication and employment generation. However, small and medium scale businesses are bedeviled by numerous challenges which have hampered its contribution to national development. To this end government has instituted various programs to  address the  challenges and constraints facing small and medium scale businesses growth. The programs and institutions include: Setting up and funding of industrial estates. Establishment of National Directorate of Employment (NDE). Establishment of the Nigeria bank of commerce and Industry (NBC), the national economic re-construction fund (NERFUND) the Nigeria Industry Bank (NIDB) which has merged into one agency in the bank industry, the world assisted small scale enterprises loan scheme (SNEX), the Nigeria Export and Import Bank (NEXIN) etc.. Setting up a small and medium scale enterprises development agency of Nigeria (SWEDAN) an agency which coordinates development in small business sector.

Unfortunately all these formal credit schemes have not been able to adequately address the fundamental problems which have constrained small scale enterprises access to credit and any other enterprises establishing a small and medium scale industry requires capital to take off, survive, and eventually expand. In Akwa Ibom State, small and medium scale manufacturing, engage in leather making, poultry making, wood carving. The smaller industries are often organized in the craft guides involving particular families who pass the skill from generation to generation.

Small scale business enterprises forms the bedrock of the economic growth of every state, no state achieves a viable economic growth and development without the establishment of small scale business firms, they have always been on the forefront of development strategies. Akwa Ibom State’s quests for development  must  be hinged on industriali8zaitovn. This is  because of the great role industries play in terms of production  activities, employment generations and the overall improvement in the quality of life small business firms are seen as veritable instruments for the industrial development Akwa Ibom  State. industrial development involves the development of a technical arrangement that moves an economy from one traditional method of product to  a more  complex system of mass manufacture of a variety of goods and services involving technology and management techniques (KASIMU 2014) it enable the state to utilize fully its factor endowments and depend less on the external factors for its growth and sustenance.

Mohammed (2015) opines that small scale business provides employment and earning opportunities which contribute to the economic growth and increase in the standard of living of the populace Orgi (2014) views it  as the engine  of development. The Nigerian industrial promotion council (NIPC) (2010) confirms this by stating that the advert of small and medium scale enterprises in Nigeria was necessitated by the need to stimulate the establishment and growth of industries in order to launch the  country’s industrial development.

Small scale business provides financial opportunity and a chance to develop wealth. It is a place where creative  motivated individuals  can use their talents and expertise  to the fullest, because  it provides satisfying career’s and job opportunities it is also  the back bone of the economy of the world. Every bid business starts as  a small business and it started with an entrepreneurs (small business  who at first earns little money or no profit. it was the new  ideas that brought  about the SIBA group of companies, Ikot Ekpene, IBOK BROTHERS, Ikot  Ekpene and many other companies in the state. untried ideas becomes annulations that become concepts that changed the business world.

GET THE COMPLETE PROJECT

Not What You Are Looking For?



For Quick Help Chat with Us Now!

+234 814 010 7220

+233 541 351 187


Here's what our amazing customers are saying

Emmanuel Essential
Kogi state University
I actually took the risk,you know first time stuff But i was suprised i received as requested. I love you guys 🌟 🌟 🌟 🌟
Very Good
Azeez Abiodun
Moshood Abiola polytechnic
I actually googled and saw about iproject master, copied the number and contacted them through WhatsApp to ask for the availability of the material and to my luck they have it. So there was a delay with the project due to the covid19 pandemic. I was really scared before making the payment cause I’ve been scammed twice, they attended so well to me and that made me trust the process and made the payment and provided them with proof, I got my material in less than 10minutes
Very Good
Gbadamosi Solomon Oluwabunmi
Lasu
Swift delivery within 9 minutes of payment. Thank you project master
Excellent
JONNAH EHIS
Ajayi Crowther University, Oyo
I was scared at first when I saw your website but I decided to risk my last 3k and surprisingly I got my complete project in my email box instantly. This is so nice!!!
Excellent
MATTHEW NGBEDE
Ahmadu Bello University
I wish I knew you guys when I wrote my first degree project, it took so much time and effort then. Now, with just a click of a button, I got my complete project in less than 15 minutes. You guys are too amazing!
Excellent
Temitayo Ayodele
Obafemi Awolowo University
My friend told me about iprojectmaster website, I doubted her until I saw her download her full project instantly, I tried mine too and got it instantly, right now, am telling everyone in my school about iprojectmaster.com, no one has to suffer any more writing their project. Thank you for making life easy for me and my fellow students... Keep up the good work
Very Good
Stancy M
Abia State University, Uturu
I did not see my project topic on your website so I decided to call your customer care number, the attention I got was epic! I got help from the beginning to the end of my project in just 3 days, they even taught me how to defend my project and I got a 'B' at the end. Thank you so much iprojectmaster, infact, I owe my graduating well today to you guys...
Excellent
Ibrahim Muhammad Muhammad
Usmanu danfodiyo university, sokoto
It's a site that give researcher student's to gain access work,easier,affordable and understandable. I appreciate the iproject master teams for making my project work fast and available .I will surely,recommend this site to my friends.thanks a lot..!
Excellent
Dau Mohammed Kabiru
Kaduna State College of Education Gidan Waya
This is my first time..Your service is superb. But because I was pressed for time, I became jittery when I did not receive feedbackd. I will do more business with you and I will recommend you to my friends. Thank you.
Very Good
Joseph M. Yohanna
Thanks a lot, am really grateful and will surely tell my friends about your website.
Excellent

HOW TO GET YOUR COMPLETE PROJECT INSTANTLY

  • Select 3 Project Topics of your choice from your Department.
  • Submit the 3 topics to your Supervisor for Approval.
  • Call Our Instant Help Desk on +234 814 010 7220 and Get Your Complete Project Material Instantly.
  • All project materials on this website are well researched by professionals with high level of professionalism.

FREQUENTLY ASKED QUESTIONS

How do i choose a Project Topic?

Look for your department and select any topic of your choice

I have a fresh topic that is not on your website. How do I go about it?

How fast can i get a complete project from your website?

Within 15 minutes if the exact project topic is on our website

Is it a complete research project or just materials?

It is a Complete Research Project i.e Chapters 1-5, Abstract, Table of Contents, Full References, Questionnaires / Secondary Data

One of your topics suites my project, but the case study is different. What do i do?

Call Our Instant Help Desk Now: +234 814 010 7220 and you will be responded to immediately

How do i get my complete project?

Your Complete Project Material will be sent to your Email Address in Ms Word document format

Can I get my Complete Project through WhatsApp?

Yes! We can send your Complete Research Project to your WhatsApp Number

What if my Project Supervisor made some changes to a topic i picked from your website?

Call Our Instant Help Desk Now: +234 814 010 7220 and you will be responded to immediately

Do you assist students with Assignment and Project Proposal?

Yes! Call Our Instant Help Desk Now: +234 814 010 7220 and you will be responded to immediately

What if i do not have any project topic idea at all?

Smiles! We've Got You Covered. Chat with us on WhatsApp Now to Get Instant Help: +234 814 010 7220

How can i trust this site?

We are well aware of fraudulent activities that have been happening on the internet. It is regrettable, but hopefully declining. However, we wish to reinstate to our esteemed clients that we are genuine and duly registered with the Corporate Affairs Commission as "PRIMEDGE TECHNOLOGY". This site runs on Secure Sockets Layer (SSL), therefore all transactions on this site are HIGHLY secure and safe!