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1.1 BACKGROUND OF THE STUDY
History have review that fifty percent of any nation economy survival depends on small scale business, which also contribute largely on the development of that nation economy, today developing country like Nigeria is a typical example of a great society at large, hence its problem and it survival became a great interest of individual.
Development in Nigeria these day indicates that the survivals and growth of small scale business are very crucial to the success of the new culture of self-reliance, the cornerstone of other development programme only are these enterprise capable of the economy, they equally possess relatively large potentials for creating linkage, employment generation, technological adoption and transfer of skills, small-scale industries of today will late in future metamorphose into large scale industries, that is it such industries could meet the challenge migrating from the internal and external of the enterprise. However, we cannot sky away from the fact that in spite of government continued effort to stimulate the growth of small scale business activities.
Their performance is still hampered by executive capacity as well as technical and financial problem. Besides that the roles of government and financial institution should be normally supportive, if the desired objectives of using small scale business as instrument of development is to be achieved. Therefore the problem and chance of survival have to be carefully examined to encourage small scale industries, it is on this views that this project work is being carried out.
1.2 STATEMENT OF THE STUDY
The project of small scale business have suffered a lot of problem. However, to address these problem some important questions which be answered were raised and as follows below:
i. What are the contributions of small scale business to infrastructural development?
ii. What are their contributions to the creation of employment opportunities?
iii. What are the importance of small scale business in the development of managerial skills or entrepreneurship?
iv. What are the problem of small scale business?
1.3 OBJECTIVES OF THE STUDY
The objective of the therefore is to present some relevant answers to these problem question that have long been neglected by some writers. The objectives therefore are as follows:
i. To determine contribution of small scale business to infrastructural development, road etc.
ii. To determine if small scale business help in the creation of employment opportunities.
iii. To determine if small scale business lead to the development of entrepreneurship.
These summarized answered to the question above that the research will prove to be correct or not. A detail list of presentation has been discussed in due course of writing this project.
Also the aim of carrying out this project is to be probed deep into the prospect and problem of small scale business which act a catalyst for economic development. The importance of small scale business as well as their technological problem with a view to suggesting was by which small business can identify the major problem and lead to government can render supportive measure to the operation of small scale business.
1.4 RESEARCH QUESTIONS
Some of the research questions that should be investigated are mentioned below:
i. Does small scale business contribute to infrastructural development?
ii. Does small scale business create employment opportunities?
iii. Does small scale business is important in the development of entrepreneurship?
iv. Does the problem of small scale business e.g. little knowledge about the business; lack of capital etc.
1.5 SIGNIFICANCE OF THE STUDY
The significance of the study is to bring the problems small scale business are facing like wise it important to newly industries which serves as a cornerstones in developing nation economy.
1.6 LIMITATION OF THE STUDY
When carrying out this project work a lot of constraints are often encountered and the study is not an exception.
Owing the geographical witness of Ozoro in Isoko North Local Government Area of Delta State time and financial limitation, unavailability of business owner in the office was impossible to have data collected for the business selected in the area.
Those were also man made constraints such as the many uncompromising attitudes.
1.7 DELIMITATION OF THE STUDY
This project is designed to study the problem and prospect and its importance in development of small scale business, the information collected in this project work is limited, current and adequate in delimitation for the use of this study. A project table will be conducted which embraces the overview of small scale business, possible role of small scale business in economic development, problem of small scale business and management guide use in tackling these problem. These and other important information are ht area of focus which this project delimitation is limited.
1.8 DEFINITION OF TERMS
Small scale business: These are enterprises whose total number of employee is not more that fifty, they are relatively small but independently owners operator and manage owing largely to limited capital or finance resources.
Fund: Fund is simply defined as the sum of money available to a business.
Economic development: This is the increase in output and change in the technological and institutional arrangement by which output is products.
Capital: Is man made aid to production or is to the available money and material used for the smooth running of the business.
Business: Is any human activity that is directed at generating income by providing needed goods and services to people.
Management: This is defined as the process undertaken by one more individual to co-ordinate the activities of others.
Planning: it is the determining of specific objectives as well as devising strategies, policies programmes and procedures for achieving them.
Price: This is the values or consideration for exchange.
Production: This is the converting of raw material into finished goods and services for the satisfaction of human wants.
Study: The activity of learning or gaining knowledge either from books or by examining things in the world.
Employment: Work especially when it is done to earn money, the state of being employed.
Economy: The relationship between the production trade and the supply of money in a particular commodity.
Respondent: A person who answers question especially in a survey.
Research: It is any careful activities and study carried out by people for discoveries of new facts, event and information, the aims being to promote and enhance knowledge.
Entrepreneur: A person who is skilled at identifying product or something, new method product, on setting up operations to provide new product marketing the products and arranging the financing of the production.
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