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THE ROLE OF FEDERAL GOVERNMENT IN THE PROMOTION OF SMALL SCALE BUSINESS IN NIGERIA

 

Preface

The federal government of Nigeria has continued to support small and medium scale business enterprises in its bid to promote the general economic development of the country and to lay a solid foundation to industrialization. In this essay, an attempt is made to create awareness amongst students as well as the general public on the various forms of support the federal government gives the important aspect of the national economy. The essay covers three main chapters: chapter one contains the introduction, objectives of the study, scope, significance of the essay, definition of terms. The second chapter reviewed various literatures from different authors on the topic. The chapter also discussed generally what small scale business is, the role of government in promoting small businesses and its advantages. Chapter three contains findings, conclusions, recommendations and bibliography.

 

 

TABLE OF CONTENTS

 

CHAPTER ONE

1. Introduction                                                     1
2. Objective of the essay                                      3
3. Scope of the study                                           4
4. Significance of the study                                  5
5. Definition of terms                                           6

 

CHAPTER TWO

2.0   Literature review                                              8

2.1   Small scale business defined                           8

2.2   Contribution of the support agencies in the problem of small scale business in Nigeria.                         13

2.3   Small scale business operation                               20

2.4   Shift in attention from big to small

scale industries.                                              21

2.5   Problems of small scale businesses                 24

2.6   The role of federal government in development of small scale business.                                                  30

2.7   Advantages of small scale business                 34

 

CHAPTER THREE 

3.0   Findings, conclusion and recommendations   39

3.1   Findings                                                          39

3.2   Conclusion                                                      40

3.3   Recommendations                                           41

        Bibliography

 

 

CHAPTER ONE

1. INTRODUCTION

Small scale business constitute an important component of the Nigerian industrial sector. The importance of this sector cannot be over emphasized, especially in a typical developing country like ours where the level of youth unemployment is rising beyond control. Hence small scale industries generate employment opportunities per unit of capital investment because they are generally more labour intensive which are more capital in nature. A large scale industry that cost N20million for instance, may employ a mere 70 (seventy) workers or less. Where as a small scale industry that cost just N150,000 (one hundred and fifty thousand naira) may employ about 20-30 workers.Small scale business specialized in the production and marketing of various products and services ranging from food, beverages, drinks/sachet water, cosmetics, spare parts and many others.Kilby (1969) acknowledge the diversity of terms of the degree of specialization and division of labour and the quantity of raw materials and output and the character of markets being served by small scale businesses. As a result the bulk of Nigerian business falls within the small scale business which account for over 80% of the number of enterprises in the country. (Ekunna 1992 Pg.160)Several number of small scale business are successful while other fail or are staggering for survival due to poor background management, lack of qualified manpower, poor capital base, lack of marketing research and appropriate technology and credit rating among banks and other lenders. These problems continue to militate against the establishment, survival and growth of small scale business in Nigeria. Although successful government in Nigeria have been emphasizing on the importance of small scale business and have established institutional support agencies to facilitate industrialization.

However, small scale business still operate in uncertainty and are faced with serious obstacles, this raises the questions of whether  the federal government is actually up to the responsibility in the promotion of small scale business in Nigeria.    

 

1. OBJECTIVE OF THE ESSAY

The main objectives of this study is to evaluate the impact of federal government in the promotion of small scale business in Nigeria. This study will specially seek to achieve the following:

1. To evaluate the marketing challenges facing small scale businesses.
2. To identify the sources of funds to the activities of the industry.
3. To find out the extent of government involvement in  promoting the activities of the business.
4. To bring to light the contribution of the industry to the development of national diploma in marketing.

Finally, it is my hope that the students of marketing and others in related discipline will find this study very informative and useful tool in their respective studies.

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