Get the complete project »
- The Complete Research Material is averagely 37 pages long and it is in Ms Word Format, it has 1-5 Chapters.
- Major Attributes are Abstract, All Chapters, Figures, Appendix, References.
- Study Level: BTech, BSc, BEng, BA, HND, ND or NCE.
- Full Access Fee: ₦4,000
This chapter defined the meaning of financial institution, how they perform their function on the small scale industries and how they help them to regulate their business. It tells us the meaning of the small scale industries and the historical background of the small sale industries how they perform their function in the development of the Nigeria economy.
1.1 BACKGROUND OF THE STUDY
Its due to mention the ways of entering into business venture by bringing already established business while the other way is to start a new business. In other case, the entrepreneur need some prior business depends on answering the following question correctly:
a) Do I have the financial requirement of the business intended to establish?
b) Where can I obtain the finance need for the establishment?
c) The availability of collateral securities to obtain loan from banks.
d) What is my financial record with banks?
e) What type of business ownership do I involve myself?
f) Do I have the experience for the management of my business?
g) How large is the business going to be?
Your answer should be useful in determining how much working capital you will need. Its most people apply the term small scale business to be the local corner delegestore, bakers shop, road side machine etc. this may be accurate enough for general use since small firms operation on this scale in Nigeria.
But most of this small business fold up even before they gain acceptance some if the problem that could course business failure whether it is necessary for someone to go into business are –
i. Lack of Finance – Due to the fact that finance are needed for initial capital as well working capital. It is necessary to have enough finance to enable the business to give a better stand due to lacks of collateral security to obtain loan from the banks lead to the failure of some business.
ii. Managerial Ability – Some entrepreneur have now managerial ability that is they have low future vision which make business to collapse.
iii. Going into business with little or no Experience.
iv. Lack of Research – Planning in without first resting the trouble water or a small scale.
v. Failure to keep complete and accurate records which the business will require to successful operations.
vi. Failure to understand changing economic conditions. Due to my observation the major problems of small scale business is of finance. Because of lack of finance many business have died with their aims and objectives without creating and impacts and the society through the establishment of financial institutions some of the problems have being solved.
1.2 OBJECTIVE OF THE STUDY
All researchers of project without aim and objectives will be meaningless. The aims of this extended essay is to find out the role of the financial institution in the development of Nigeria economy and to create awareness of sub-sector. The study will also find out what contributed to the general failure of the small scale business and what are the solution to the problems in term of financial economic sector and personal effect.
1.3 SIGNIFICANCE OF THE STUDY
i. The significance of this essay is to serve as a reference point to the researchers, caption of industries government as well as students who are intended in knowing the importance of financial institution in the development of small scale industries.
ii. The researchers have acquired information about what small scale industries is, the importance and the problem associated with small scale industries in Nigeria.
iii. Another significance of this research work is to encourage small scale industries on how to promote the business.
iv. It also serve as a reference to the researcher that discover the ways in which government contribute immensely for the development of small scale industries.
1.4 SCOPE AND LIMITATION
The researcher would focused on the study of small scale industries in Nigeria i.e. problem facing the sector are of the constraint was that of time to scope with both class work and that of project work. As a result of that, time was shared between class works and project research works. Since project limiting is not the course that quantify the research for the reward of national diploma in business studies.
Also lacks of financial resource serves as one of the limitation in carrying out this research. The cost of transportation and other expensive activities undertaken in carrying out this future studies on the subject.
More so without financial support from the government there is no way that small scale industries can progress.
You either get what you want or your money back. T&C Apply
Share a Comment
You can find more project topics easily, just search
SIMILAR BUSINESS ADMINISTRATION FINAL YEAR PROJECT RESEARCH TOPICS
1. AN EXAMINATION OF THE IMPACT OF RECRUITMENT AND SELECTION STRATEGIES ON THE PERFORMANCE OF SMALL AND MEDIUM ENTERPRISE (A CASE STUDY OF NOVAL HOTEL NI...» ABSTRACT Hospitality business is a facet of the Nigerian economy that enhances economic growth and development as small and medium enterprises through...Continue Reading »
92 pages | 181 hits | Source: BUSINESS ADMINISTRATION
» ABSTRACT This project work is designed to take a close look at the function of motivation in achieving organizational goals with a particular referenc...Continue Reading »
64 pages | 80 hits | Source: BUSINESS ADMINISTRATION
» ABSTRACT This study examined the effectiveness of training and development on employee's performance. To access the situation, well structure question...Continue Reading »
52 pages | 88 hits | Source: BUSINESS ADMINISTRATION
4. THE EFFECT OF MULTI-TAXATION ON SURVIVAL OF SMALL AND MEDIUM SCALE ENTERPRISES IN NIGERIA WITH PARTICULAR REFERENCE TO SELECTED SMALL AND MEDIUM SCALE...» Abstract Small and medium enterprises play a very important role in development of the Nigerian economy. The SMEs sector's importance in the economic ...Continue Reading »
52 pages | 214 hits | Source: BUSINESS ADMINISTRATION
5. AN ASSESSMENT OF THE EFFECTS OF SALARY INCREMENT ON EMPLOYEES MOTIVATION AND TURNOVER (A CASE STUDY OF GOMBE LOCAL GOVERNMENT) ...» CHAPTER ONE INTRODUCTION 1.1 BACKGROUND TO THE STUDY In every organization, large or small, private or public enterprises, human resources are always ...Continue Reading »
52 pages | 537 hits | Source: BUSINESS ADMINISTRATION
» ABSTRACT The study examines the association with commercializing enterprises in Nigeria. In addition, it seeks to investigate the reason for commercia...Continue Reading »
31 pages | 438 hits | Source: BUSINESS ADMINISTRATION
7. DETERMINANTS OF TAX COMPLIANCE: A CASE STUDY OF VAT FLAT RATE SCHEME TRADERS IN THE ACCRA METROPOLIS» Abstract Taxation is one of the important elements in managing national income, especially in developed countries and has played an important role in ...Continue Reading »
94 pages | 596 hits | Source: BUSINESS ADMINISTRATION
» CHAPTER I: Introduction 1.1 Background of the Study It is a fact in materials management that continuity in production or provision of services on con...Continue Reading »
52 pages | 499 hits | Source: BUSINESS ADMINISTRATION
» CHAPTER ONE 1.0 INTRODUCTION 1.1 BACKGROUND OF STUDY The issue of fair valuation of residential real estate properties has been a major challenge in N...Continue Reading »
52 pages | 524 hits | Source: BUSINESS ADMINISTRATION
» CHAPTER ONE INTRODUCTION 1.1 Background to the Study Taxation is one of the major fiscal policies the government of any nation such as Nigeria can use...Continue Reading »
52 pages | 0 hits | Source: BUSINESS ADMINISTRATION