Get the complete project »
- The Complete Research Material is averagely 52 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
1.1 BACKGROUND OF THE STUDY
The small and medium scale enterprises (SMEs) have been generally acknowledged as the bedrock of the industrial development of any country. Apart from the numerous goods and services, they provide a veritable means of large scale employment as they are usually labour intensive. (Yerima et al 2007). In developing countries, Nigeria have since the 1970‟s shown increased interest in the financing and promoting small and medium scale enterprises from three main reasons. According to Owuallah, (19999:9), these reasons are:
i. Transformation of traditional or indigenous industry
ii. Increase in job creation.
iii. Redistribution of wealth and income
They also provide training grounds, for entrepreneur even as they generally rely on more on the use of local materials. Osaba, (1987:105) says that, the distribution of goods has continued to be the only viable and reliable option for development, growth and survival of any economy. The work explore the role and contribution, constraints and prospects of the small as it contributes to the growth and development of the Nigeria economy, and the government efforts, internal and external support.
(SMES) have been full recognized by government and development experts as the main engine of economic growth and major factor in promoting private sector development and partnership (Adeusiyi, 1997:95).
Ajakaiye (2003) state that the central bank of Nigeria (CBN) has initiated a project for baseline economic studies to develop in integrated information
system for SMEs to foster better implementation of small and medium industries equity investment scheme (SMES).
Federal government has facilitate SMEs by established National Association of Small and Medium Industries (NASSI), Central for management development (CMD), Fund for Small Scales Industries (FUSSI). This is because of her concern for the survival of the SMEs.
SMEs in Nigeria can be categorized into urban and rural enterprise. The former can be sub-divided into organized and unorganized enterprise. The organized ones tends to have paid employee with a registered office whereas the unorganized category mainly made up of artisan who work in open space temporary wooden structures, or at home and employ little or in some no salaries workers (Lied Holm and Mead, 1987, World bank, 1992).
The owner of SMEs are people of average means with specialized or no specialized skill, therefore, because of financial constraints, location of market, managerial skills, lack of information etc they are unable to meet their target objective. As a result, efficiency and productivity are low, due to hard condition which Nigerian are facing, SMEs has failed. As a result we cannot relaxed about the situation.
This research will therefore find out the difficulties of SMEs in Enugu state.
1.2 STATEMENT OF THE PROBLEM
Promoter of small and medium enterprises are people with ideas, dreams and imaginations but majority of the entrepreneurs lack the needed financial means to translate their dreams and aspirations into concrete that will earn them the desire wealth.
In spite of the roles play by SMEs in the Nigeria economy, the sub-sector has continued to suffer from the other numerous of problems. The main of this research is therefore to articulate the challenges posed to the development of a dynamic SMEs. Sub-sector arising from some lingering constraints. Such problems include:
Inability of SMEs to understand, appreciate and utilize information for project selection opportunity.
Lack of access to finance due to delay in granting approval and or non-availability of information/material to enable bank process request immediately, lack of collateral security, high cost of production and over heads due to spiral inflation and non-availability of infrastructures. Poor location and currently due to fail bank problems we are experiencing in the recent time and inefficiency in the administration of incentives which discourage rather than promotes SMEs growth.
Social and environmental, problems due to high rate of business failure as the result of poor resources and infrastructure base a state of economy, attitudinal disposition of Nigeria towards made-in-Nigeria goods, low educational background and lack of management and entrepreneur skill. It is against this backdrop that the researcher intends to search out solutions to the above problems of SMEs.
1.3 OBJECTIVES OF THE STUDY:
This study has earlier identified some of the problems facing the Small and Medium Scale Enterprises in Enugu state. It is in the light of these problems that the following objectives would be set to help the study to achieve its major aim of financing and promoting small and medium scale enterprises in Enugu state. There are as follows:-
1. To identify the major problems militating against effective management of SMEs in Enugu state.
2. To identify the problems encountered by the small and medium scale enterprises in obtaining loans from the banks.
3. To find out whether SMEs have helped to solve the problem of unemployment.
4. To establish the relationship that exists between the performance of SMEs and economic development in Nigeria.
5. To establish the relationship that exists between commercial banks loan and the performance of SMEs in Enugu state.
6. To identify the problems encountered by the banks in the process of administering loans to SMEs.
7. To investigate the real effect of financing and promoting SMEs, on their performance.
8. To evaluate various measures introduced to boast industries production and its‟ financing and how this affected the realization of the set goals.
9. To offer suggestions and recommendation that could help for this success and advancement of small and medium scale enterprises in Enugu state.
1.4 RESEARCH QUESTIONS
It is clear that SMEs living within Enugu state encountered various problems in their bid to make profit or to succeed as thriving business owners despite their numerous contributions towards socio-economic development of the state.
In order to realize the main aim of this study therefore answers to the following questions were sought:
Ø Is lack of adequate capital a restraint to small and medium enterprises?
Ø What are the various problem militating against effective management of SMEs in
Ø What are the various problems encountered by SMEs in an effort to obtaining loan from
Ø What are the problems encountered by banks in the process of administering loan to
Ø To what extent does the government encourage SMEs?
1.5 RESEARCH HYPOTHESES
The researcher for this study has chosen this hypothesis:
H0: Small and Medium scale enterprises are not veritable tool for economic growth and development and has no impact on the economy.
Hi: Small and medium scale enterprises are veritable tool for economic growth and development and has an impact on the economic.
1.6 SIGNIFICANCE OF THE STUDY
This researcher would be invaluable benefit to both the financial institution and small and medium sale industries in Nigeria, as well as the counties policy makers who have desire to place Nigerian on a sound economic and industrial footing. When this research is concluded, it would have contributed to the study of knowledge already pilling on the issue of constraints on growth of SMEs, which cannot over look an aspiring nation like Nigeria.
Finally, since it is the aspiration of our national policy on education to train our youths to be self reliant or self employed after school, this study will therefore stimulates their zeal to involve in the establishment of SMEs.
1.7 SCOPE OF THE STUDY
This scope of this study in terms of its contents is restricted to the concept of constraints on growth, financing and promoting SMEs in terms of achieving its organizational goal and objective. The study is limited to five selected small and medium scale enterprises in Enugu state. The researcher restricted the study to
Enugu state because of limited finance and time, constraint and therefore, service as a sample representative of the entire state and indeed Nigeria as a whole. The convenience of data collection is another
reason behind the researcher‟s choice of the study.
1.8 DEFINITIONS OF TERMS
This section defines related concept used in this research.
You either get what you want or your money back. T&C Apply
You can find more project topics easily, just search
SIMILAR HUMAN RESOURCE MANAGEMENT FINAL YEAR PROJECT RESEARCH TOPICS
1. AN APPRAISAL OF PERFORMANCE APPRAISAL TECHNIQUES ON EMPLOYEE MOTIVATION (A CASE STUDY OF AKWA IBOM STATE CIVIL SERVICE)» ABSTRACT The study provides an appraisal of performance appraisal techniques on employee motivation. It analyses the nature of performance appraisal, ...Continue Reading »
» ABSTRACTThe study is to appraise the role of government in poverty alleviation in Nigeria with a special reference to National Poverty Eradication Pro...Continue Reading »
» CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY Education is regarded as a foundation for any country’s development. Humans are equipped in...Continue Reading »
4. AN ANALYSIS OF FOREIGN DIRECT INVESTMENT AND GROWTH OF THE COMMUNICATION SUBSECTOR: A STUDY OF NIGERIAN TELECOMMUNICATION INDUSTRY» CHAPTER ONE 1.0 INTRODUCTION 1.1 BACKGROUND OF STUDY “Statelessness does provide certain environmental advantages. Among the benefits are the ab...Continue Reading »
» CHAPTER ONE INTRODUCTION 1.1 Background to the study Economic growth and the increased pace of urbanization and industrialization in many countries ha...Continue Reading »
6. PUBLIC RELATIONS AS A MANAGERIAL TOOL IN BUSINESS ORGANIZATION (A CASE STUDY OF FIRST BANK OF NIGERIA PLC. ENUGU).» ABSTRACT This thesis, PUBLIC RELATIONS AS A MANAGERIAL TOOL IN BUSINESS ORGANIZATION (A CASE STUDY OF FIRST BANK OF Nigeria PLC., Enugu) is based on f...Continue Reading »
» CHAPTER ONE INTRODUCTION Background of the study Available of resources is a vital need for the survival of human ventures. These include human, mater...Continue Reading »
» CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY Human resources management was defined by John Bratton and Jeffrey Gold (2nd Edition) as a set of...Continue Reading »
» CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY In any evaluation of the condition necessary for the growth and survival of an organization, the ...Continue Reading »
10. HUMAN RESOURCE MANAGEMENT IN NIGERIA: A CASE STUDY OF STAFF TRAINING CENTER, BENIN CITY, EDO STATE» ABSTRACT This research work was carried out to investigate the human resource management in Nigeria. A survey method was used for this study. Question...Continue Reading »