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Problems and Prospects of Small and Medium Enterprises in Nigeria

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Description

– Problems and Prospects of Small and Medium Enterprises in Nigeria –

Download Problems and Prospects of Small and Medium Enterprises in Nigeria. Students who are writing their projects can get this material to aid their research work.

Abstract

The major purpose of this study is to determine factors influencing small and medium enterprises in Nigeria. To determines the extent finance house stick condition have affected the development of small and medium enterprise in Nigeria and also assess the extent poor financing has affected small and medium business operations.

This study will help small and medium enterprise to assess and appraise their role in solving the problems of unemployment in Nigeria.

It will guide the compliance with government monetary policy. It will also equally server as a guideline to researchers who may wish to decide with this study in the future. The following findings were made is the course of analyzing the data.

There has been a phenomenal growth in the number of small and medium ventures for past few years. The nature and dimension of small and medium enterprise in Nnewi North made profit of about N5000 daily.

The following recommendations are made in the belief that they will promote and stabilize small and medium enterprise of implemented. To overcome the problem of financial constraints, the government should re-introduce the small business credit scheme to that beneficiaries can use them to run the small and medium enterprise

Introduction

1.1 Background of the Study

In recent years, particularly since the adoption of the economic laicism programmer in Nigeria in 1986, there has been a decisive switch emphasis from the grandiose, capital intensive,

large scale industries project based on the philosophy of import substitution to small scale industries with immense potentials for developing domestic linkages for rapid – sustainable industrial development.

Apart from their potential for ensuring a self-reliant industrialization, in terms of ability to rely largely on local raw materials small scale enterprises are also in a better position to boost employ raw materials.

Small and medium enterprises are also in a better position to boost employment, guarantee a more even distribution of industrial development in the country industry the rural areas and facilitate the growth of non-oil exports.

Consequently, both the federal and state government and recently local government have stepped up efforts to promote the development of small scale enterprises through increased incentive scheme including enhanced budgetary allocations for technical assistance programed New lending schemes.

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