Get the complete project »
- The Complete Research Material is averagely 80 pages long and it is in MS Word Format, it has 1-5 Chapters.
- Major Attributes are Questionnaire, Data Analysis,Abstract.
- Study Level: BTech, BSc, BEng, BA, HND, ND or NCE.
- Full Access Fee: ₦4,000
In recent years, particularly since the adoption of the economic reform programme in Nigeria in 1986, there has been a decisive switch of emphasis from the grandiose, capital intensive, large scale industrial project based on the philosphy 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 enterprise, are also in a better position to boost employment, guarantee a more even distribution of industrial development in the country, including the rural areas, and facilitate the growth of non-oil exports.
In Nigeria, the definition of small and medium enterprises also varies from time to time and according to institutions, for instance, the Central Bank of Nigeria’s (CBN) monetary policy circular No:27 of 1988 define small scale enterprises (excluding general commerce) as enterprises in which total investment (including land and working capital) did not exceed #500,000 and or the annual turn-over did not exceed #5.0 million.
Medium enterprise (excluding general commerce) as enterprises in which total investment and not exceed #1,000,0000 (1 million) and the annual turnover did not exceed #1.2 million. Small scale enterprises is one of the modern strategies underdevelop countries are employing to break into the “league” of developed countries. Fasua (2006:85) categorized business that fall under small scale as follows firewood supply, plantain production, restaurant services, small scale poultry raising, operating a nursery for children, home laundry services and host of others. Business grouped under medium scale according to fasusa are ; soap production, hair/body cream production, chemical production, commercial poultry, profession appractes (law, accountancy, education) food and beverage production among others.
Consequently, both the federal and state governments and recently, local governments, have stepped up efforts to promote the development of small scale enterprises through increased incentive scheme, including enhanced budgetary allocations for technical, assistance programmes. New lending schemes and credits institutions for technical assistance programme New lending schemes and credit institutions such as the National Economic Reconstruction found (NERFOUND), World Bank-assisted small-scale enterprises loan scheme (SMES), Nigeria Export and Import Bank (NEXIM), the people’s Bank of Nigeria (PBN) and the Community Bank have also emerged at both the national and local levels to boost the flow of development finance of small scale enterprises which have so far depended largely on personal funds and credit. From informal sources for both their investments and working capital.
Unfortunately, all these formal credit scheme have not been able to adequately redress the fundamental problems which have constrained small scale enterprises access to credit. The low credit rating of this class of enterprises, is attributable largely to their weak capital, base, high mortality rate, low productivity and shortage of managerial skills. Indeed, the problem of weak capital base, high mortality rate, low productivity and shortage of managerial skills. Indeed, the problems, of weak capital base, and poor access to finance appear to have developed into some vicious circle, leading to slow growth, stagnation and even rapid demise of the small scale enterprises. The impact of all existing credit scheme interms of providing funds for meaningful and sustained development among the small scale enterprise, had medium enterprise to serve the expected role of catalyst for rapid industrial development, there is need for a more innovative strategy for improved access to development finance for the small and medium enterprise that would address their inability to provide collateral securities for loans formal credit institutions.
Statement of the problem
Small and medium enterprise are mostly in managed by owners and relations. The financing in most cases in normally provided by the owners. The owners fail to realize the importance of external source of capital in order affect expansion in the business. In most cases, the by the owner, members of the family and friends in most cases.
In another development, small and medium enterprise experiences difficulties in raising equity capital from the finance houses or individuals. Even when the finance house agrees to provide equity capital, the conditions are always dreadful. All the result to inadequate capital available to the sector and thus lead to poor financing. This is the bane of most cottage industries in Nigeria. About 80% of small and medium enterprises are stifled because of this problem of poor financing and other problems associated with it (Chukwuemeka, 2006). The problems that emanated from poor financing include:
- Lack of competent management which is the consequence of inability of owners to employ the services of experts.
- Use of obsolete equipment and methods of production because of owner’s inability to access new technology.
- Excessive competition which resulted from sales which is a consequence of poor finance to cope with increased competition in the industry.
Inspite of the different measures since 1960 to increase industrialization, small medium enterprises are still facing hard conditions. This is as a result of some constraining factors.
- The high cost of available raw materials affects the prices of good food. This only has adverse affect on the turnover of the enterprise but also on the profitability.
- To what extent has the finance house strict conditions affected the development of small scale.
- Does poor financing actually affect small and medium business operation.
Objectives of the study
The specific objectives of the study are:-
- To determine factors influencing small and medium enterprise in Nigeria
- To determine the extent finance house strict conditions have affected the development of small and medium enterprise in Nigeria
- To assess the extent poor financing has affected small and medium business operation in Nigeria.
The following hypothesis are formulated to provide the lead for this study:
H1: The phenomenal growth in the number of small and medium enterprise is not due to guest for self employment.
H2: The profitability of the business has not encouraged people involved in the business.
You either get what you want or your money back. T&C Apply
You can find more project topics easily, just search
SIMILAR BUSINESS EDUCATION FINAL YEAR PROJECT RESEARCH TOPICS
1. PRINCIPAL MANAGEMENT AND EDUCATIONAL REPROCESS AND STUDENTS PERFORMANCE IN BUSINESS STUDIES IN OBIO/AKPOR LGA OF RIVERS STATE» CHAPTER ONE INTRODUCTION 1.1. Background of the study In recent times, education stakeholders have expressed their concern over the poor performance o...Continue Reading »
2. THE EFFECT OF ADVERTISEMENT ON THE SUCCESS OF A BUSINESS ORGANIZATION (A CASE STUDY OF NIGERIA BOTTLING COMPANY PLC, IBADAN)» CHAPTER ONE BACKGROUND OF THE STUDY Cocoa cola is the world leading oft drink. It is sold in more than one hundred and forty five countries. A total o...Continue Reading »
» CHAPTER ONE 1.0 INTRODUCTION 1.1 BACKGROUND OF STUDY The present day condition of the continuous rise in prices of commodities (consumable and durable...Continue Reading »
4. INFLUENCE OF PARENTAL STATUS ON STUDENTS ACADEMIC PERFORMANCE IN SELECTED SECONDARY SCHOOL IN ABAKALIKI METROPOLIS» Abstract The study sought to ascertain the influence of parental status on students’ academic performance in secondary school in Abakaliki metro...Continue Reading »
» CHAPTER ONE INTRODUCTION Background to the Study The level of development of a country is often considered to be an offshoot of the nature of her educ...Continue Reading »
6. SELECTED LABOUR MANAGEMENT VARIABLES AND JOB PERFORMANCE OF BUSINESS EDUCATION TEACHERS IN ABIA STATE» CHAPTER ONE INTRODUCTION 1.1 Background of the Study Labour management which is a subject area in the curriculum of industrial relations and areas of ...Continue Reading »
7. BUSINESS EDUCATION STUDENTS’ ENTREPRENEURSHIP SKILLS ACQUISITION AND THE ATTAINMENT OF SUSTAINABLE DEVELOPMENT IN PORT HARCOURT» CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY Nigeria, like any other developing country is highly sensitive to the need of providing vocationa...Continue Reading »
8. THE APPLICATION OF PRODUCTION SKILLS IN THE MANAGEMENT OF BUSINESS ORGANIZATION TO GAIN COMPETITIVE ADVANTAGE» CHAPTER ONE INTRODUCTION BACKGROUND OF THE STUDY Production skills (defined) Industries and business organization be it private or public, have one th...Continue Reading »
9. STRATEGIES FOR IMPROVING COMPUTER INSTRUCTION IN SECONDARY SCHOOLS IN EZZA SOUTH LOCAL GOVERNMENT AREA OF EBONYI STATE.» Abstract This study was centered on strategies for improving computer instruction in secondary schools in Ezza South LGA of Ebonyi State. Computer is ...Continue Reading »
» 1.0 INTRODUCTION OF THE STUDY 1.1 BACKGROUND Micro finance Bank (describe here as small scale financial services to claim that they are economically a...Continue Reading »