PROBLEMS AND PROSPECTS OF SMALL SCALE BUSINESS IN NIGERIA (A CASE STUDY OF ENUGU SOUTH LOCAL GOVERNMENT AREA)
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PROBLEMS AND PROSPECTS
OF SMALL SCALE BUSINESS IN NIGERIA (A CASE STUDY OF ENUGU SOUTH LOCAL GOVERNMENT
AREA)
ABSTRACT
Abstract is a précised summary of what
is actually done in a project; it means that the following information should
be there. The topic under the study and the location, the statement of the
problem. The research hypothesis also carried out, relevant literature
reviewers of the study must be identified. A questionnaire was design with
concrete validity and reliability. Relevant data will be collected from the
respondents and analyzed accordingly. This research work is a very crucial
study for the managers and prospectivess owners of small scale business
operator. The study has motivated by the diminishing state of the Enugu south
and also the prospects. To solve the research problem, both the primary and
secondary data were collected. The research instrument used in collecting the
data were questionnaire, oral interview and field visits. The respondents
comprises of the owners, managers and workers of small scale business in Enugu
south. In organizing and presenting data collected, tables and percentages were
used. The various hypothesis were tested using the chi-square.Most of the
respondents rated the performance of Ennugu south as being below standard
easily sheet down. Most of the respondents rated the Enugu south yielding
profits with bright future. Most of the respondents between most operators of
the Enugu south are illiterates, has little money and keep no records of
business. Base on findings, the researcher recommend that: All Enugu
south residents are prospects ones should study the proposed sight of their
business before location. i.e proper financial records should be kept e.g the
cash book.
TABLE
OF CONTENTS
CHAPTER
ONE
INTRODUCTION
1.1
Background
of the
study
1.2
Statement
of the Problem
1.3
Purpose
of the
Study
1.4
Scope
of the study
1.5
Research
Hypothesis
1.6
Significance
of the study
1.7
Limitation
of the study
1.8
Definition
of
Terms
CHAPTER
TWO
LITERATURE
REVIEW
2.0
Literature Review
2.1
Definition of Small Scale Business
2.2
Why People want to go into Business
Ownership
2.3
Scope of the Scale Business
2.4
Roles of Small Scale Business in National Economy
2.5
Sources of Fund for Small Scale Business
2.6
Government Commitment to
Encourage
2.7
Feasibility Study
2.8
Problems of Small Scale Enterprises
CHAPTER
THREE
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
3.5
Instruments of Data
Collection
3.6
Validity of
Instrument
3.7
Reliability of Instrument
3.8
Method of Data
Collection
3.9
Method of Data
Analysis
CHAPTER
FOUR
DATA
PRESENTATION AND ANALYSIS
4.1
Presentation and
Analysis
4.2
Testing of
Hypothesis
4.3
Summary of Findings
(Result)
CHAPTER
FIVE
DISCUSSIONS,
RECOMMENDATIONS AND CONCLUSIONS
5.1
Discussion of Findings
(Results)
5.2
Implications of the Research
Findings
5.3
Conclusions
5.4
Recommendations
5.5
Suggestions for Further
Research
Bibliography
Appendix
CHAPTER ONE
INTRODUCTION
1.1
BACKGROUND
OF THE STUDY
Small scale business has been the main
trust of Nigeria’s development programmed over time. However, it is being
widely acknowledged that rural development should be the centre piece for
effective short and long run development of any nation such as Niger. Both the
federal and state governments on one hand and general public on the other hand
attest to the fact through their efforts towards the development of the
countryside of Nigeria.
In realization of this and in pursuance of its attainment the federal
government created the directorate for Foods, Roads, Rural Infrastructure
(FRRI) to work in partnership with the rural communities towards the provision
of Amenities such as rural roads, water bore holes and production of more
foods. As well several states, which Anambra is one of them, have adopted rural
developmental programme which is charged with the responsibility of developing
and coordinating rural development activities in the state.
From the on-going, therefore, it is dear that the governments and people of the
country now attach much importance to rural development. It is therefore, the
need to achieve integrated rural development vis-a vis national development
that prompted this study with the objective of determining the role of the
establishment of small scale industries in Nigeria can play in this regard. The
Enugu south business of what could be described as small scale Enugu south
business started as a result of movement of people from one place or town to
another. These movements are categorized in:
a. Movement
which one locality or town for example going to work from one’s house within
the same city or from one’s city to another.
b. Movement
from one town to another like in the case Ogui migration where there is an
exodus of the people from rural area to the developed ogui area. In this case,
people concerned to go out for greener pasture like looking for better jobs and
business.
c. Movement
from one country to another for withers business, study or search for better
jobs.
d. Movement
to places of interest like-the Olumo Rocks in Abeokuta or Yoruba game reserve.
In course of these movements, it has
not required quantity of food and drinks that would last them the length of
time they would stay outside their homes. The instructive desire to help in
feeding of these groups of travelers brought about the business of Enugu south.
Before the 15th century, what used to be called inns existed in
Europe. These were place where travelers called spend a night or two even more
and were served food and drinks at a cost. The inns were merely remedy by
inn-keepers between 1750-1850, the year of industrial revolution; the business
of Enuge south became a common thing all over Europe.
In Nigeria, the
business is beleected to have started with the arrival of Europeans into the
country. Before the Europeans, all travelers’ woe only catered for by their
hoppetabeo nature. Travelers who come to peace mission were virtually carried
for by their hosts. These Europeans or their guide had to make do with the
local food which brought about some kind of exchange process. As this process
continued, it dawned on the local people that food could be prepared and sold
to these travelers who moved from one place to another. This was the early
shape of Enugu south unfit it grew to its present standard which was made
possible by the attendant development of the country by the presence of the
Europeans.
1.2
STATEMENT
OF THE PROBLEM
Government of federal state and local
levels has set agencies that are specifically changed with providing funds and
other services for the small scale business people. The purpose of establishing
these support agencies by government is to encourage the rapid development of
small or medium scale industries in the country for government want to
encourage school levels to establish their own small business or unemployment
and for economic development. These support agencies are National Directorate
of Employment (NDE), Funds for small scale industries (FSSI) and National
Economic Reconstruction Funds (NER FUND) have their various functions. Some are
established to provide loans, render advisory services, identify source of raw
materials, structure their organization which could be managerial or
technical/structuring.
But inspite of all efforts being made, the performance expectation. Especially
in the small scale Enugu south business today, these are relatively high rate
of business failure, low productivity, managerial management, financial
strigency, and of good human relations under capitalization etc. Small scale
Enugu south still performs below expectation? What are the courses of small
scale Enugu south business failure?
1.3
PURPOSE
OF THE STUDY
The study will address the following
purpose:
1. To
find out why small scale Enugu south still perform below
standard.
2. To
find out why there is high rate of business failure in small scale Enugu south.
3. To
determine the extent of managenal incompetence of owners of small scale Enugu
south in the management of their business.
4. To
determine why there is poor human relations with small scale Enugu south.
5. To
find out the causes of low productivity in small scale Enugu south.
6. To
determine the extent of financial stringency in the operations of some small
scale Enugu south.
7. To
recommend what should be done to improve standard of small scale Enugu south.
1.4
SCOPE
OF THE STUDY
This work covers a
selected Enugu south in Enugu south. The Grand Metropolist in the Eastern part
of Nigeria. I strongly believe that carefully analysis of fault obtained will
enable me to make general observations regarding Enugu south business in the other
cities of Nigeria. This study tries to identify areas of problem such as
financial, marketing, advertising, expansion and other meaningful suggestion
that will help managers in this sector to surmount them.
1.5
RESEARCH
QUESTIONS
To solve the research problem, I have
asked the following research questions.
1. Are
small scales Enugu south performing below standard?
2. Are
there high rate of business failure in small scale Enugu south?
3. What
is the extent of managenal incompetence of owners of small scale Enugu south?
4. Are
there low productivity in small scale Enugu south?
5. Does
poor human relations have negative effect on the turnover of small scale
business?
6. What
is the effect of financial stringency on the operation of small scale Enugu
south?
1.6
RESEARCH
HYPOTHESIS
The following hypothesis will be used
in the study
1. HO:
Most small scale Enugu south do not perform below standard.
Hi: Most small scale
Enugu south perform below standard.
2. HO:
Owners of small scale Enugu south do not make good profits.
Hi: Owners of small
scale Enugu south make good
profits.
3. HO:
There is no financial stringency in small scale
Enugu
south business.
Hi:
There is financial stringency in small Enugu south
business.
4. HO:
There is no good human relation in small Enugu
South
business.
Hi:
There is a good human relation in small Enugu
South
business.
5. HO:
Most operations of small Enugu south are not
illiterate.
Hi:
Most operators of small Enugu south are illiterate.
1.7
SIGNIFICANCE
OF THE STUDY
The study is very timely, especially
today that the nation is striving towards better economics development and
growth. This study will be of immense benefits to both the operating and
potential Enugu south business because it will give a thorough insight into
Enugu south operations. This is aimed at patting Enugu south in trace operative
so that those concerned will get to know what the business is about. In the
same vein, different categories of Enugu south customers will be put in a
position where they can appreciate Enugu south business and probably adjust
their irrational behaviors. The work unravels the technicians of the game to
ensure success of the operation by discussing things like customers-workers
relationship, marketing strategies, behavior in the restaurants.
The study should create the long required awareness in the Enugu south
business. It will help the Enugu south business and also emigration the Enugu
south on its potentials and how best to top them optionally and also appreciate
the important role it plays in the society and national economy.
1.8
DEFINITION
OF TERMS
Enugu south means a place or building
where foods and drinks are served. Bedrooms are provided for accommodation,
there are other facilities provided, such as cusmo, swimming pool, playing
grounds like femiscourt, and others. There are other pab house such as guest
house, inn, resort and hotel.
i.
Foo-Foo:
This means pounded yam or cassava that of the southern part of Nigeria.
ii.
Amala:
Food prepared in solid form like pounded yam and eaten with draw soup. It is
usually common on the Yoruba speaking area of Nigeria.
iii.
Draw
Soup:
This is like stew and is usually prepared with okro or ogbono cut in pieces. It
is very delicious and makes the eating of solid food more pleasurable.
iv.
Peper
soup:
This is a traditional Nigeria food prepared with meat, and salt to taste. It
also usually taken in relaxation time.
v.
Eba
or Garri: It is usually inform of pounded yam but it made with
boiled water.
vi.
Moi-moi:
This is a land of food made from grounded beans.
According to Kotler Lawrence (1973), small scale industry is any industry which
is in dependently owned and operated and not dominant in its area of operation.
Drucker, P.F. (1974), maintains that there is only one criteria which with a
fair degree of reliability, indicates whether a business is small, fair
sized or big. He says that “a small business requires at most one man who is
not engaged in any other functional work required. The man at top knows who the
few people are in the organization in whom responsisibility for key results
without having to consult his records or associates. Drucker summed it up by
asserting that regardless of titles and position, it can hardly exceed twelve
to fifteen men which is about the number one man can really know and can really
be familiar with.
The committee for Economic Development (C.E.D) of the united state has given a
valuable list of characteristics of the small business which states that a
small business will have at least two of the following characteristics:
a) Management
are also owners
b) Area
of operation are mainly local
c) Owners
supplied capital, and
d) Small
in size within the industry
According to Small
Business Administration (SBA), U.S Federal Government agency established in
1953 to advice, assist and protect small business, definition of small scale
business is not rigidly fixed, but can be relaxed to exceptional cases so far
as the particular firm is not dominant.
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