The Empowering of Small and Medium Scale Enterprises for Sustainable Development

Description

Download The Empowering of Small and Medium Scale Enterprises for Sustainable Development. Business Management students who are writing their projects can get this material to aid their research work.

Abstract

A significant aspect of small and medium scale enterprises is in the following developing areas, creation of employment, stimulation of indigenous entrepreneurship, transformation of traditional industry, linkage effort, contribution to regional activities or cooperation, utilization and multinationalisation of indigenous enterprises.

Thus, government, agencies, corporate organizations, international sponsors, etc are expected to adequately provide or empower SMEs for sustainable economic (activities that guarantees) development and growth. This study therefore seeks to address the following issues .

The enabling environment by government to small and medium scale enterprises are not always complete in any particular empowerment. In other words, transport and electricity may be available while water, communication, educational infrastructure, etc may not be available or inadequate.

Thus, no environments are comprehensive or complete in any small and medium scale industry. Hostility in an operating environment (by government, or communities) often make the efforts and expectation of tile small and medium scale enterprises unrealistic.

Introduction

There is no doubt that small and medium scale enterprises constitute the real fabric of a nation’s economy. Ever since the country’s (Political) independence, this has been so, and even today the entire economic system is exclusively held in place by small and medium scale enterprises, Owualah (1998:8).

However, the environment in which this sector operates is both challenging and rewarding. The fact that SMEs forms the engine for industrial growth and development in the economy recommends efforts that could make them strive.

By definition, Small and Medium Scale enterprises are business with investments in fixed assets (excluding land) of not more than #10 m (Ten Million Naira). There are several other criteria by different authors and scholars to describing Small Medium Scale enterprises.

A significant aspect of small and medium scale enterprises is in the following developing areas, creation of employment, stimulation of indigenous entrepreneurship, transformation of traditional industry, linkage effort, contribution to regional activities or cooperation, utilization and multinationalisation of indigenousnenterprises.

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