THE ROLE OF GOVERNMENT INDUSTRIAL POLICIES ON SMALL AND MEDIUM SCALE INDUSTRIAL DEVELOPMENT IN NIGERIA (A CASE STUDY OF SABGO PALM OIL PROCESSING INDUSTRY NSUKKA ENUGU STATE)
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THE
ROLE OF GOVERNMENT INDUSTRIAL POLICIES ON SMALL AND MEDIUM SCALE INDUSTRIAL
DEVELOPMENT IN NIGERIA
(A
CASE STUDY OF SABGO PALM OIL PROCESSING INDUSTRY NSUKKA ENUGU STATE)
ABSTRACT
This write-up is to
show how government industries foster economic development. This project
aims at examining various government policies and their effects on the survival
and growth of small and medium scale enterprises, it is crucial for us to
understand and appreciate what constitution a small or medium scale enterprises,
what factor militate against their survival growth, and proliferation for which
government policies have been formulated to address or for us to understand and
appreciate what constitute a small scale.
This paper
structurally based or grouped into section namely:
i.
Section one is the introduction of the topic
ii. Section two contains the
definition and characteristics
iii. Section three contains the role
as well as recognized problem
iv. Section four contains government
policies on the small and medium scale enterprises.
v. Section five contains the
summary, conclusion and reformation
TABLE OF CONTENTS
CHAPTER ONE
INTRODUCTION
1.1
Background
of
study
1.2
Statement
of the
problem
1.3
Objective
of the
study
1.4
Research
Questions
1.5
Research
Hypotheses
1.6
Significance
of the Study
1.7
Scope
of the Study
1.8
Limitation
of the study
1.9
Definition
of Terms
References
CHAPTER TWO
LITERATURE REVIEW
2.1 Recognition of
the Small and Medium Scale
2.2 Definition of
Small Scale Business
2.3 Characteristics
of Small and Medium Scale
2.4 The Role of Small
and Medium Organization
2.5 Strategic
Importance of Small and Medium
2.6 Problems of Small
and Medium Scale
2.7 Promotion of
Small and Medium Scale
2.8 Fiscal Policy
Measures
2.9 Budget
Measures
Reference
References
CHAPTER THREE
RESEARCH DESIGN AND
METHODOLOGY
3.1 Introduction of
the study
3.2 Research Design
3.3 Area of
Study
3.4 Population of the
Study
3.5 Sample Size
Determination
3.6 Instrument for
Data Collection
3.7 Validation of the
Instrument
3.8 Reliability of
the Instrument
3.9 Method of Data
Collection
3.10 Method of Data Analysis
3.11 Questionnaire Distribution
and Retrieval
CHAPTER FOUR
Data presentation and
Analysis
4.1 Data
presentation and Analysis
4.2 Testing of
Hypothesis
4.3 Summary of
Results
CHAPTER FIVE
Discussion,
Conclusion and Recommendation
5.1 Introduction
5.2 Discussion of
Results Findings
5.3 Conclusion
5.4 Implication of
the Research Findings
5.5 Recommendations
Bibliography
Appendix
CHAPTER ONE
INTRODUCTION
1.1
Background of the Study
The role of the small
and medium enterprises (SME) as a catalyst for economic growth and development
has been well documented in the economic literature and recognized in most
countries. For example, in many of the newly industrialized nations, more
than Ninety eight (98) percent of all industrial enterprises belong to the
small and medium enterprises sector and account for the large mass of the
labour force.
Small and medium enterprises enjoyed competitive advantage over large
enterprises in serving dispersed local market. Knowledge of this fact,
programmes of assistance especially in the area of finance extension and
advisory services, as well as provision of infrastructure have been designed by
the Nigerian government for the development of small and medium enterprises.
Specially, successive government in Nigeria have in the last three decades
shown interest in ensuring satisfactory financing for small and medium
enterprises (SMES), by establishing various schemes and specialized financial
institution to provide suitable financial to the sub-sector.
The role of small and medium enterprises in fostering economic development has
also been well activated in different forms of this nature. The specify
attention on them is based on their expected impact and potential contribution
on board and diversified production base as well as their accelerative
effective in achieving macro objectives pertaining to full employment, income
distribution and the development of local technology. They are
particularly most conducive for diffusion of management skills and stimulation
of indigenous entrepreneurship overtime.
Effective role in promoting the growth of small and medium scale enterprises in
recognizing the flexible and adaptive nature as well as the economic
development in believing that a dynamic and growing small and medium
manufacture sub-sector can control significantly to the implementation of a
wide various policies to encourage their proliferated and make them credible
engine grown and development.
The basic objective of growth and development policies as contained in the
monetary policies are fiscal policy measures to improve financing and other
supportive service to small and medium scale enterprises by expanding and improving
their access to credit and infrastructural facilities reducing their production
costs, boosting their profitability, enhancing by making their products
competitive in the export market. This seminar aims at examining various
government policies and their effects on the survival and growth of small and
medium scale enterprises. It is important for us to understand and appreciates
what constitutes of small or medium scale survival, growth and proliferation
for which government policies have been formulated to address.
1.2
Statement of Problem
An important feature
associated with small and medium scale industries, which is particularly
relevant to our economic problem, is that these industries characteristically
depend less on imported inputs relatively to their local capital investment
than large firm.
In view of the economic situation and alarming rate of the unemployment in
society, it is important to determine the effective of government policies on
small and medium enterprises have on our economic development and their impact
on the society at large.
The study of intents to examine constraints encountered by small and medium
scale industries. Hence, the federal government continues to lay emphasis
on self-reliance industrialization through the encouragement of small and
medium scale industrial development. New lending schemes and credit institution
at both local and federal levels has been establishing to encourage the
development.
They include the national economic reconstruction fund (NERFUND), the national,
Directorate of Community Bank and other Development Bank.
Inspite of these measures, small and medium scale industries in all parts of
the federation has continued to face high rate of business failures because of
their reliance of foreign raw material imputs.
Small and medium scale industries are the pivoted on then which any developing
economy like Nigeria stands.
They creates more jobs per units of investment then large scale ones the there
is a problem as to whether their poor performance in as a result of dependence
of foreign raw material inputs. This problem raised this question, will
the establishment of small and medium scale raw material processing industries
such as palm oil processing plant help to boost the development of small and
medium scale enterprises in Nsukka zone in particular and the country in
general it is the answer to this question that is focus in this research.
1.3
Objective of the Study
The objectives of
this study are as follows:
1. To
find out the commercial banks that assist small and medium scale enterprises as
stipulated by the government.
2. To
find out if government policies affect the production of palm oil at Nsukka.
3. To
determine the attitude of people towards innovation and how it affect the
source of raw material for production.
4. To
determine if the small scale industries can produce at a large commercial
quantity.
5. To
make general and specific recommendation based on the finding of the study.
1.4
Research Questions
In order to
facilitate the study, the following basic questions will be reflected in the
interview.
1. Can
government polices affect the production of palm oil at Nsukka?
2. Can
the attitude of Nsukka people toward innovation affect the source of raw
material for production?
3. Does
SABGO palm oil processing industries produce palm oil at commercial quantity.
4. Have
the industry ever encountered any environmental constraints?
5. Do
the commercial banks in the area assist small and medium scale enterprises as
stipulated by the government?
6. Will
there be adequate finance and manpower around the Nsukka area to help raise the
industry production capacities.
1.5
Hypothesis Formulation
H0: Commercial banks in the
area do not assist regulatory as stipulated by the government as regards to
small and medium scale industries.
H1: Commercial banks in the
area assist regularly as stipulated by the government as regards to small and
medium scale industries.
H0: There is no enough manpower
around the area of help raise the industry’s production capacity.
H2: There is enough manpower
around the area of help raise the industry’s production capacity.
1.6 Significance of the Study
In
realization of the advantages of promoting small and medium scale enterprises
the federal government has countries to play pioneering and active roles since
1970’s in stimulating small and medium scale enterprises .
Its
policy objectives in this context could be summarized as:
1.
Provision
of greater employment opportunities
2.
Industrial
development and natural integration through industrial dispense
3.
Increased
production of manufactures exports
4.
The
development of indigenous technology.
The government has
according employed combination of monetary and fiscal measures as well as
industrial incentive to enhance the achievement of the desired goals.
1.7
Scope of the Study
This study aims at
examining various government policies and their effects on the survival and
growth of small and medium scale enterprises in Nigeria.
It is important to understand and appreciate what constitute a small and medium
scale enterprises, what factors militates against their survivals, growth and
proliferation for which government policies have been formulated to address.
It also examines how government policies can help small business, owners in
Nigeria, with reference to SABGO oil Enugu.
1.9
Definitions of Terms
1. Policy: Policy
is the guideline laid down in general or specific terms to make a company or
other organization to reach the long range target or targets bet by the
objectives.
2. Fiscal Policy: This
is a macro-economic tools which involves the used of government spending and
taxes in guiding the nature economy to achieve pre-determined economic goals.
3. Monetary Policy: This
is the attempt to regulate the economy by regulating the supply of monetary and
terms availability of credit.
4. Finance: This is
the activity of managing money, especially by the government or commercial
organization.
5. Budget: This is financial
statement items and amount of expected expenditure are source amount of
expected revenue of economic unit over a period ahead, usually one year.
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