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IMPACT OF
SMALL SCALE FIRMS ON INDUSTRIAL DEVELOPMENT OF ENUGU STATE
ABSTRACT
From the
title of this work, it will be seen that the work is geared towards finding out
the impact of small scale firms on industrial development of Enugu Urban. The
aim of the this study is to examine and identify in detail the problems,
prospects effect and the importance of the development of small scale firms
towards industrial development of Enugu Urban. This work has five chapters,
with each chapter focusing in a specific objective. Chapter one tells us the
history of small scale firms, chapter two examine other people’s work on small
scale firms under these subheadings characteristics of small scale firms,
availability of resource, the impacts or importance, financing the small scale
firms, Government and its agencies, and so on. Chapter three examines the type
of research design and methodology used by
the
researcher. Chapter four, the researcher used two techniques of data analysis
the percentages and chi-square at 0.05 level of significance. Chapter five
summarizes the findings, making some conclusion and some recommendation as to
how the problems of the small scale firms will be solved.
CHAPTER ONE
1.1
BACKGROUND OF THE STUDY
Development
of firms has been a matter of great concern and priority to many nations of the
world. It could be understood from economic history that many advanced
countries of the world which has attained the height of industrialization
started as a more small and medium scale enterprises which
later
metamorphosed into giant cooperation. In the past, industrial development
process were slow and painful and the advancement in technology in developed
countries resulted from the survival of the cottage firms which were nurtured,
pampered and breastfed to grow up as big industrial corporations today.
Since the
early, 1990’s a number of initiatives have come to dominate the economic growth
agenda of many donors and public agencies. These initiatives arose as a
response to, or an interpretation of, the increasing effects of market
globalization on the economies of developing countries. Analyses that only
looked at domestic markets were no longer adequate to understanding the
dynamics that affected the incomes and livelihoods of poor households almost
anywhere in the world. With the increase in globalization, resource-driven
comparative advent-age diminished in importance, while competitive advantage,
created by private and public stakeholders, rises. And with its rise, the
importance of theories that could help us understand and manipulate the dynamics affecting economic
growth including competitiveness, value chain analysis, and economic cluster
theory.
As a result
of increased globalization and a shift in jobs from developed to developing
economies ethical issues emerged. These were largely in response to labour and
environmental concerns.
Since then,
competitiveness initiatives, value chain analysis, and cluster development
approach have proved to be quite effective at increasing micro, small and
medium enterprises productivity and competitiveness into global markets, as
well as national and local markets.
Developing
countries as a whole have now realized that they lag much behind than the
developed nations of the world, not only in industrial base but also in national
standard of living. As a result, these countries now seem to have hastened up
the pace of their industrial development process in other to increase their
living standard and thus reduce the present rate of unemployment, (Klatt 1973).
Nigerian’s
desire to concentrate on developing the small and medium scale enterprises
(SME) have always been buttressed by and reflected in a wide range of economic
policies. In-fact, the present consciousness on the part of the every segment
of the society including the government for small
and medium
scale industrial growth cannot be under emphasized and the delay in
appreciating this sector as an economic catalyst is frustrating. (Ani B.N. and Nwandu E.C. 2001).
Yearly,
government initiate policies that will not only help the development of small
scale firms but also bring legislations for small and medium scale firms
protection. Most government economic policies on imported goods have been
targeted at discouraging such importation and protect the establishment,
existence and survival of cottage firms. The essence of the protection is not
to allow it face the competition posed by foreign goods in the market.
It is true
that we are operating in a system where savings and investment are quite low;
this is as a result of low capital base, mass unemployment and low per capital
income. But government has not relented on its effort to ensure the success of
small and medium scale firms. Tax holidays and tax concessions are many at
times being offered by government to small and medium scale firms to enable
them survive. Grants and loan facilities are another key ways of assisting
small and medium scale (SME)
industries
so that funds needed for current operations and investments may not be an
impediment.
If
critically viewed, more efforts of government were geared towards the
establishment of industries which would provide employment to the teaming
populations, provide earnings to the country through export profiles, enhance standard of living of the citizenry
and in turn results to provisions of
infrastructural
facilities. It is equally of important to note at this juncture that small and
medium scale enterprises means different thing to different people, group,
society and government hence.
1.2
STATEMENT OF PROBLEMS
The
under-development of Nigerian economy is as a result of inadequate industries
in Nigeria and manufacturing of the existing one’s owing to poor
implementation, supervision and execution of government policies and
programmes, subject to corruption and lack of appropriate machineries for later
implementation.
The
government (both at state and federal level) at various intervals have
initiated policies measures to encourage the development of the small scale
industries. Some of these policies included the operation feed the nation (OFN)
of 1973, the Green Revolution of 1977, the National Directorate of Employment
(NDE) of 1986 and others. All these geared towards assisting the firms
technically, financially and managerially.
Given that
industrial development has been so slowly generally in Nigeria, and that
government has been doing something positive to increase the industrial base of
the country; the researcher therefore is challenged to prove whether or not a
small and medium firm will lead to quick industrial development in Enugu Urban
and Nigeria in general.
The
researcher will find out why most government industrialization and mobilization
policies inaugurated in the past, failed to achieve grass root
industrialization and mobilization among Nigerians and also how to address the
problems of entrepreneurship facing small scale industries in Nigeria and Enugu
State in particular.
1.3 RESEARCH
QUESTIONS
The impact
of small and medium scale enterprise towards industrial development have been
a controversial issue owing to its
significant to Nigerian economy. In view of this, the researcher intends to
present the following questions.
(1) What are
the factors militating against the growth and development of small and medium
scale enterprises in Enugu Urban?
(2) Do
Government and its agencies fund small scale firm adequately in relation to its
promises and policies as to industrializing in Enugu Urban?
(3) Do
government give financial assistance to small scale firms?
(4) Do good
management contribute to the success of small scale firms in Enugu Urban?
(5) How much
loan do government give to small scale firms?
(6) Do small
and medium scale enterprises contribute in waste
management
disposal and extended usage of by-product that may not have been useful without
the existence of SME’s?
1.4
OBJECTIVES OF THE STUDY
This study
intends to investigate various problems associated with establishment and
growth of small and medium scale enterprises towards the development of
industrialization in Enugu State. This research will attempt to
(1) To
discover and determine the factors militating against the growth and
development of scale and medium enterprises in Enugu Urban.
(2) To
discover if government and its agencies fund small scale firms adequately in
relation to its promises and policies as to industrializing in Enugu Urban.
(3) To find
out if government render financial assistance to small scale firm in Enugu
Urban.
(4) To find
out if good management contribute to the success of small scale firms in Enugu
Urban.
(5) To find
out if government give loans to the small scale firms.
(6) To
discover whether small and mediums scale enterprise contributes in waste
management disposal and extended usage of by-product that
may not have
been useful without the existence of SME’s.
1.5
STATEMENT OF HYPOTHESIS
The
hypothesis to be tested against their alternatives will be formulated from the
statement or problem to serve as an effective guide:
Ho Small and
medium scale enterprises does not have any factor militating against its growth
and development in Enugu State.
Hi Small and
medium scale enterprises does have any factor militating against its growth and
development in Enugu State.
Ho Small
scale and medium enterprises does not have any effect to the development and
growth of industrialization in Enugu State.
Hi Small
scale and medium enterprises does have any effect to the development and growth
of industrialization in Enugu State.
Ho
Individuals does not have roles to play towards promoting government policy to
achieve industrialization and stability in the economy of the state.
Hi
Individuals have roles to play towards promoting government policy to achieve
value chain of industrialization and stability in the economy of the state.
Ho Small and
medium scale enterprises (SME) does not contribute in waste management disposal
and extended usage of by-product that may not have been useful without the
existence of small and medium
scale
enterprises.
Hi Small and
medium scale enterprises (SME) does contribute in waste management disposal and
extended usage of by-product that may not have been useful without the
existence of small and medium scale
enterprises.
Ho
Government does not have any position towards assisting, promoting and
stabilizing small and medium scale enterprises (SME) in other to unlock value
chain approaches to our economic boom.
Hi
Government does have any position towards assisting, promoting and stabilizing
small and medium scale enterprises (SME) in other to unlock value chain
approaches to our economic boom.
Ho
Environmental factors does not have influence in the establishment, growth and
stability of small scale enterprises (SME)
Hi
Environmental factors does have influence in the establishment, growth and
stability of small scale enterprises (SME)
1.6
SIGNIFICANCE OF THE STUDY
No matter
the amount of resources committed in this study, its importance as to the
resources imputed cannot be compared. This is true because it is a study that
deals with rudiments and fundamentals of economic growth and stability. Its
centered on business prosperity, which if achieved will reduce the personal
problem of unemployment and poor standard of living. It deals with the
production of goods and services, provision of necessary tools for
infrastructural facilities and this helps to enhance
industrial
development. It creates earning sources to the government and for the general
administration. Above all,
1. This
research will give an insight into the natural implications of existence of
small and medium scale enterprises in Enugu Urban.
2. This research
work will also assist researchers, scholars and future managers on the above
subject matter.
3. This
research work will expose any shortcomings that has been militating against the
establishment, growth and development of industrialization in Enugu Urban
4. This
research will expose opportunities that have not been exploited to intending
investors and entrepreneurs in search of opportunities.
1.7 SCOPE
AND LIMITATION OF THE STUDY
This
research work has been limited to a reasonable researchable scope considering a
lot of constraints during the time of the study. The study aims at identifying
the problems and prospects of firm using selected small scale firms in Enugu as
a case study.
A lot of
problems are likely to be encountered during the process of putting this work
together. These problems include:
(1) Finance:
A lot of money is required at all stages of the study, as a civil servant, it
is a big problem.
(2) Time
constraint: As a civil servant, I have a limited time to put this work together
due to other numerous engagements.
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