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SMALL-SCALE INDUSTRIES DEVELOPMENT: PROBLEMS AND PROSPECTS

ABSTRACT

This research is aimed at small-scale industries development in Anambra state: problems and prospects. Small-scale industries are those industries that are privately owned by its owners in a purely personalized way without a formalized management structure. Small-scale industries is needed for speedy growth and development especially for abilities to boost the larger industries, social infrastructure, agriculture etc. small-scale enterprises is however faced with a lot of problems. IT is against this background that this project is undertaken to take a critical look at small-scale industries in Awka and Nnewi. In chapter one which is the introduction, the researcher discussed the statement of the problem, purpose, significance of the study, research questions, hypothesis, scope and definition of terms. Chapter two death much on various literature review, problems and prospects and summary of the literature review. Chapter three reviewed the methodology of data collection. Chapter four shows how data was collected, presented the summary, conclusions, recommendations and references. 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 Anambra state.      

CHAPTER ONE

INTRODUCTION

1.1  BACKGROUND TO THE STUDY

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.      

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. Nigeria as a developing nation is battling for her economic survival, which can however not be achieved without acquisition of industrial and technological power and enough manpower both skilled and unskilled to cope with the struggle.  Nigeria economy has in the last two decades passed through various phases, starting from the oil boom in the seventies and followed by the era of unplanned and reckless spending our wealth. This is followed with the emergence of economic doom which has necessitated the introduction of austerity measures and structural adjustment programme (SAP).

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 Nigeria.

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 Anambra State.

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.

To provide greater employment opportunities.

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