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FINANCING SMALL SCALE
INDUSTRIES IN NIGERIA
TABLE OF CONTENTS
CHAPTER ONE
1.0
Introduction
1.1
Background of the Study
1.2
Statement of the Problem
1.3
Purpose of the
Study
1.4
Definition of Terms
1.5
Scope of the study
1.6
Limitation of
Study
CHAPTER TWO
2.0
Review of Related Literature
2.1 Nature and
Characteristics of the Nigeria
2.2 The Role of
Small Scale Enterprises
2.3 Advantages
of Small Industries in Nigeria
2.4 Major
Disadvantages of Small Scale Enterprise
2.5 Review of
Main source of Financing
2.6 The Role of
Government in Finance and Promotion
2.7 Option for
Improved Access to Credit
CHAPTER THREE
3.0
Research Design and Methodology
3.1 Research
Design
3.2 Area of the
Study
3.3 Population
of the study
3.4 Sample and
Sampling Procedure Techniques
3.5 Instrument
for Data Collection
3.6 Method of
Data
Collection
3.7 Method of
Data Analysis
3.8 Validation
of Instrument
3.9 Reliability
of the Instrument
CHAPTER FOUR
4.0
Data Presentation and Analysis
4.2 Summary of
the
Results
CHAPTER
FIVE
5.0
Findings
5.2
Conclusion
5.3
Recommendations
Bibliography
Appendix
CHAPTER
ONE
1.0
INTRODUCTION
1.1
BACKGROUND OF THE STUDY
Industrial development involves development of a technical arrangement that
moves on economy from the traditional method of production to a more complex
system of mass manufacturing of verity of goods of services involving
technology and management techniques.
Industrialization tends to propel growth adequate the achievement of structural
transformation and diversification of economy. It enable a country to utilize
it’s factor endowment and depends less on external sector. For its growth and
sustenance. They provide employment for a substantial proportion of the
industrial establishment. Therefore due to the above incentioned role played by
industrial sector, that is small-scale industrial in the economy, it requires
some financial support from government for the smooth running of the
industrial.
But small-scale industries is a sub-sector of development that is of great
importance as mentioned above, but it has not received the types of attention
it deserves that is why the government and the Federal Ministry of industries
lay-down the parameter under which a industrialist may take advantage of the
various incentive erected by the government for the growth of the small-scale
industries. Such incentives are in the form of loan provision of machinery and
raw materials.
The process of taking advantages of the various incentive scheme are so
cumbersome and its subject to bureaucratic radicalism and only few small-scale
industries are able to utilize them.
The importance of small-scale industries to the survival of a nation can no
longer be saved. They have moved from the substance level to pre-indigenization
period of importance in the country’s industrial process. Therefore the
authorities should not relent on the inactive dec to lack of fund.
The Nigeria Bank was established to provide among other financial services to
the indigenous business community, especially small sale industries of the
recommendation of the financial system review committee of 1976 government made
bank the apex financial institution for small-scale business. The bank obtains
fund from the federal government to assist small business and the loan granted
are relating on soft terms. During the 1970s and 1980 banks promoted of soft
loans and advisory services of operational and liquidity problems attributed to
reduced government funding and poor loans repayment by medium scale
entrepreneur. Bank loans and advances fluctuated from N984 million, N223
millionm, N305.3 million, N87,7 million and 1994 respectively similarly, it’s
deposit liabilities fluctuated from N252 million. In 1990 to N423.3 million in
1991 N318.7 million in 1992 and N320 million in both 1993 and 1994 following
this, the government utilized the opportunity equip it banks with power to act
as catalyst in development by operating like an all purpose universal bank to
engage in all types of investment banking and under writing operation.
1.2
STATEMENT OF PROBLEMS
The study titled financing small-scale industries “attempts to determine the
way by which the development banks contributes to it financing of the problems
which they encounter are as follows:
1. Most small-scale industries
lack finance as start up or working capital for their business but could not
mobilize such fund easily from commercial banks.
2. Procurement of machinery and
equipment post problems on small-scale industries and management expertise as a
result had not been functioning optimally.
3. Most small-scale
industries because of their small nature are unable to compete with the big
ones for the necessary raw material for their production and are unable to to
produce massively to take advantages of economic of scale.
1.3
PURPOSE OF THE STUDY
1. The purpose of the study are
as follows to determine how the development bank have helped to provide finance
to small-scale industries as start up or working capital for the business.
2. To determine how Nigeria banks
help to procure machines and equipment for small-scale industries either
through leasing or here purchase to encourage massive production.
3. To determine how development
bank has helped to provide technical and managerial expertise including
undertaking of feasibility of consultancy arrangement.
4. To find our how the
development banks will be able to provide adequate raw material for the
small-scale industries to encourage massive production so that they will be
able to compete with the large scale industries.
1.5
SCOPE OF THE STUDY
However, all definition share a common view that small-scale industries are
generally low in terms of number of person employed, and in amount of
investment and annual business turnover. The main criteria used throughout the
world include number of employees, sales volume, financial strength, relative
size, initial capital outlay, comparison with it’s past standard independent
ownership type of industry etc.
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