ENTREPRENEURSHIP EFFECTIVENESS IN SMALL-SCALE INDUSTRIES

ABSTRACT

          The role of small-scale industries to any economy is indispensable recently; the emphasis has been on measures to accelerate their expansion and growth. To give this effort proper directim, it is identifiable that the key ingredient in translating this dream into reality is effective entrepreneurship.

          The research is able to reveal the characteristics nature of small-scale industries, how small scale industries are financed and some of them are from personal savings and from relatives, the causes of failure of small-scale industries, covered also the importance and the needed factors to be considered before setting the industries.

          In this regard, the study laid much emphasis on the whole idea of entrepreneurship effectiveness in small-scale industries. The solutions and recommendations are subsequently based on the observation and research findings for effective entrepreneurship on small-scale industries.

CHAPTER ONE

1.0     INTRODUCTION

          The roles played by small-scale industries in the growth of any economy cannot be over emphasized. This has been the singular reason why both government groups and individual in business always place greater emphasis on the unique human activity. This also accounts for its dominating prominence in government policy statements. Much multinational or even supranational business today stated as small-scale businesses, this therefore implies that small scale is the beginning of every big business.

          The present day America is the richest country in the world judging by their economy the history o industrialization in this ‘’ God’s own country” has show the absolute importance of small scale industries in the economy and scheme of things, careful study and investigation has released that in America, only 1/10 of 10% of the total number of firms in the economy employ more than 2,500 workers. It is also further show that 89% of the total firms in the economy employ less than 100 employees, and 65% having less than 20 employees in their payroll.

          As a standard of judgment. Using number of employees, this has at least proved that in spite of here economic glory, America is not land of giant corporations. Many countries of today like, South Korea, Taiwan, Honkong and Singapore are making enormous successes in the world export industrial market as a result of emphasis on small-scale industries.

          As a way out, the efforts of every segment of the Nigerian government for small scale industries enhancement cannot therefore be surprising thus, our part administrators, national planners and development project imitators cannot excuse their lack of careful planning in this regard, therefore, following the result of these falterers in our national development economy and planning strategy, the continue ineffectiveness of our small scale industries have promote the reason for this work. The research work therefore is an attempt to look into a key and embodying factor in small-scale industrial effectiveness.

          “ Entrepreneurship effectiveness in small scale industries” the scope of the project would be limited to a case study of Macon’s Bakery industry in Enugu state capital. The general opinion revealed that in spite of its key roles and functions in the success of any ventures or business adequate entrepreneurial impact has neither been felt nor matched the search for small scale industries enhancement and growth. Investors have not shown commendable interest to accept entrepreneurial role, and this has led to a low venturing rate in spite of all this, there are still multifarious prospective areas in the manufacturing, merchandising and service sectors of the economy that exist, this was actualized through the various efforts made by the government, private individuals, industrial and financial institutions and others commercial agencies towards including small scale enterprise. For effectiveness, there is need to make adequate appraisal of entrepreneurial role towards funding of the enterprises to actual managing. These measures will ensure that the entrepreneurs achieve the rewarded profits.

          As we said earlier, small is the beginning of large scale, the effort on small-scale enterprises were stepping-stones to large-scale corporation.