THE IMPACT OF SMALL AND MEDIUM SCALE ENTERPRISES ON EMPLOYMENT IN URBAN AREAS; PORT HARCOURT AS A CASE STUDY
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THE IMPACT OF
SMALL AND MEDIUM
SCALE
ENTERPRISES ON EMPLOYMENT
IN URBAN
AREAS;
PORT HARCOURT
AS A CASE STUDY
ABSTRACT
The research
study was carried out in order to investigate the employment generation through
small and medium scale enterprise a study of selected firms in Rivers State. It
is to this research study focus on to assess the impact of small and medium
scale enterprises on employment generation in Rivers State as small and medium
scale was shown to be the engine house of the state economy. The research
method in order to analyze the data a well programmed and structured
questionnaire was adopted. This revealed that small and medium scale enterprise
has contributed to the growth rate, increase in productivity of output,
generated revenue to the government of Rivers State. We came to conclusion that
small and medium scale enterprises have contributed positively to the state.
Finally, we recommended that the government should provide adequate incentive
such as loans, good roads, and regular power supply in order to promote the
small and medium scale enterprises in Rivers State.
TABLE OF CONTENTS
Title Page i
Certification ii
Dedication iii
Acknowledgement iv
Abstract v
Table of Contents vi
CHAPTER
ONE
1.1 Background
of the problem 1
1.2 Statement
of the problem 4
1.3 Objectives
of the study 5
1.4 Research
questions 5
1.5 Hypothesis
of the study 6
1.6 Significance
of the study 6
1.7 Scope
and limitation 6
1.8 Definition
of terms 7
1.9 Organization
of the study 8
CHAPTER
TWO: LITERATURE REVIEW
2.0 Introduction 10
2.1 Conceptual
frame finance to small 10
2.2 Sources
of finance to small scale enterprises 14
2.2.1 Personal source of finance 16
2.2.2 Non-institutional sources of
financing 17
2.2.3 External institutional sources
of financing 17
2.2.4 Loan from government agencies 18
2.3
Appraisal of government financing 20
2.4 Problem
of financing small scale business 26
2.5 Impact
of small scale business in rivers state 26
2.5.1 Productivity 26
2.5.2 Employment
creation 27
2.5.3 Industrialization 28
2.5.4 Sources of inputs for other
firms 29
2.5.5 Economic growth 30
CHAPTER
THREE
3.0 Methodology 31
3.1 Research
design 31
3.2 Research
population 31
3.3 Secondary
data 31
3.4 Primary
data 32
3.5 Data
analysis techniques 33
CHAPTER FOUR: DATA PRESENTATION AND
ANALYSIS
4.0 Introduction 35
4.1 Data presentation 35
4.2 Interpretation of data 38
CHAPTER FIVE: SUMMARY, RECOMMENDATION AND CONCLUSION
5.1 Summary 40
5.2 Recommendations 41
5.3 Conclusion 43
References
Appendix
CHAPTER
ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
In Rivers State and
other part of the country, successive government have embarked of various
development plans with hope that such plans will transform the states. One
means of achieving this face is through its small and medium scale businesses.
However, as employment opportunity are concerned, industrialization in Rivers
State through small and medium scale business since it has been a slow pace in
providing solution to the macroeconomic problem of unemployment.
Soniake (1989) made
the succinct observation when he argued that because the industrial sector of
Rivers State employed less than 10% of the total force in the state, the direct
employment creation capabilities advice by the advocate of small and medium
enterprises in Rivers State as the panacea of economic development has been put
to doubt.
Based on the above
analysis that industrialization has failed to provide, the needed economic
development and coupled with the fact that the Rivers State has low
productivity partly because of the behavioural attitude of the indigenes and
people of Rivers State engaged in paid employment in (Ahiazu 1984). Jaja (2005)
that a stance has been taken here, that there small scale industries can serve
as a good instrument with which to accelerate the economic development in
Rivers State. To provide the necessary focus on how small scale industries can
serve the needed purpose, it is imperative to have to have a clear
interpretation of the concept of small and medium enterprises.
The industrial
document for Rivers State ministry of commerce, trade and industry referred to
small scale businesses as investment of N100,000 to 2 million naira excluding
cost of land but including working capital investment (Obitayo 2001). The term
shall scale business depend on the criteria that has been used in making the
assessment, nature of the business and size of the business. In the opinion of
Ekhato (1999) of all the criteria for categorizing small and large scale
businesses, the one that has been most frequently used is that sixe. The size
centurion include number of employees, volume of sales, valve of assets, insurance
in force and volume of deposits.
Jaja (2005) noted
that of all the definition of small scale business found in literature, the one
most appealing is the one offered by centre for management development, which
identified as business whose ownership and control is usually vested in the
same person, that the business usually have a small share of the market and
that the chief executive generally participate actively in most level of the
day-to-day decision making process.
It can be argued that
a vehicle with which to accelerate the economic development of Rivers State is
the promotion of small and medium scale business. This perhaps is because the
sophistication and robustness of the members of society who appeared to have
overshadowed the small scale industries. However, what most writers have
hitherto done is principally focused on the entrepreneur vis-Ã -vis the economy.
For instance, Kelby (1989) examined the development of entrepreneur in the
bread industry from which he made useful suggestions on how entrepreneur who
possess the necessary psychological make ups could harness available resources
to improve their enterprises. Because his study was tailored to a particular
industry, it does not provide sufficient room from generalization.
1.2 STATEMENT OF THE PROBLEM
At the root of all
economic development in Rivers State is a small and medium scale business
organization. The desire for the society to better their lot in the phase for
self-fulfillment. If a society wishes to excel especially in Rivers State, the
state must engage in activities that will high productivity, employment
creation to the economic state of the society. Many indigenous organizations in
Rivers State are comparatively small scale operators. It is a recognized fact
that productivity is a critical factor in economic and social development for
it determines the standard of living of its citizens no wonder the fourth
national development plan (1981-1985). Makes it necessary for a state like
Rivers State to be conscious of her productivity. Massive investment in
industrialization will not produce the desired effect unless national
productivity improves.
If the state must
enjoy a high standard of living her productivity must show an appreciable
increase. This has cause the Rivers State government to promote small and
medium scale business in rivers state to enhance the productivity of output in
the state and to boast the economy state of Rivers State. Increase in oil
production from other sectors like the small and medium scale business, costs have
risen dramatically, output has fallen, high rate of unemployment in Rivers
State. To this effect, we examine and investigate the impact of small and
medium scale business on employment creation in Rivers State.
1.3 OBJECTIVES OF THE STUDY
1. To
examine the impact of small and medium scale enterprises on Rivers State
economy.
2. To
evaluate the impact of small scale industries in terms of employment and
income.
1.4 RESEARCH QUESTIONS
1. To
what extent has small scale enterprises impacted on Rivers State economy?
2. To
what extent has small scale enterprises created employment opportunity and
raised output/income in Rivers State?
1.5 HYPOTHESIS OF THE STUDY
There is no significance relationship
between employment generation and small scale business operating in Rivers
State.
1.6 SIGNIFICANCE OF THE STUDY
After a careful
research study the research study will be significant to the government of
rivers state, Nigeria and globally. The finding of the study would be
beneficial to the industrial and prospective entrepreneur.
1.7 SCOPE AND LIMITATIONS
Several factors posed
as a limitation to the efficacy of this project. Notable among them are time
and financial constraints. The time constraint and limited resources at the
disposal of the researcher limited the scope of the research to rivers state of
Nigeria. Also, there was an unco-operation attitude of some of the selected
small scale industries as regards the questionnaire given to them.
It was difficult to
convince a large number of the respondent to fill and return the questionnaire
administered due to fear that it might be one form of government assessment for
taxation. Moreover, some could not even find records of some information
required bureaucratic and administrative inefficiencies prevented us from
getting adequate information from some government agencies. In any case, these
limitations did not stop us from continuing with the project. They rather made
us to modify our strategies and spurned us into putting greater efforts towards
the successful completion of the project.
1.8 DEFINITION OF TERMS
Small-Scale
Business: These are mainly one man business that are
located and operated in Rivers State.
Small
Scale Business Credit Scheme: These are programmes
initiated at both federal and state levels, for the purpose of providing soft
credit to small scale business enterprises.
Credit
Default: This occurs when a borrower fails to meet up
hi/her credit obligations.
Financing:
The provision of money for the purpose of investment in a project.
1.9 ORGANIZATION OF THE STUDY
Chapter One: It
focuses on introduction statement of problem, purpose of the study hypothesis,
and definition of terms.
Chapter Two: This chapter focuses on
literature review and theoretical framework.
Chapter Three: it focuses on research
methodology, research design, sampling and population of the study, data
analysis.
Chapter Four: This is on data
presentation analysis and interpretation.
Chapter Five: Focus on summary of
finding, conclusion and recommendations.
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