FINANCING SMALL SCALE INDUSTRIES IN NIGERIA (A CASE STUDY OF SELECTED SMALL BUSINESS IN LAGOS SUB-URBAN)

FINANCING SMALL SCALE INDUSTRIES IN NIGERIA (A Case Study of Selected Small Business in Lagos Sub-Urban)

ABSTRACT

The study was conducted on Financing Small and Medium industries in Nigeria (A Case Study of Selected small business in Lagos State sub-urban).

The roles play by SSEs as been confirmed by this study.  It therefore means that the SSEs can be effectively used to improve the country’s employment and growth if the above stated problems that they face are tackled.  More activities of the government should therefore be directed to the industry.

The data were gathered through the administration of questionnaire to respondents from different department status in the organization.

The findings of this work do not differ significantly from what have been said by former researcher as reviewed in chapter two of this work.  However, this does not mean that further study into this area cannot be undertaken since new facts are emerging every day.

Small Scale Industries do not prepare proper and regular financial report that makes them not to have one for loan purposes.  Policy should be put in place to make compulsory preparation of business name so that names of from which do not subsequently prepare financial report may be struck off from the register book.

TABLE OF CONTENTS

TITLE PAGE                                                                                                I

CERTIFICATION                                                                                          II

DEDICATION                                                                                              III

ACKNOWLEDGEMENT                                                                               IV

ABSTRACT                                                                                                 V

TABLE OF CONTENTS                                                                                VI

CHAPTER ONE: INTRODUCTION

1.1     BACKGROUND OF THE STUDY                                                        1

1.2     STATEMENT OF RESEARCH PROBLEM                                           3

1.3     OBJECTIVE OF THE STUDY                                                            4

1.4     STATEMENT OF RESEARCH OPERATORS                                       4

1.5     STATEMENT OF RESEARCH HYPOTHESIS                                      4

1.6     SIGNIFICANCE OF THE STUDY                                                        5

1.7     SCOPE AND DELIMITATION OF THE STUDY                                   5

1.8     PLAN OF STUDY                                                                               5

1.9     DEFINITION OF TERM                                                                      6

CHAPTER TWO: LITERATURE REVIEW

2.1        DEFINITION OF SMALL SCALE ENTERPRISES                                7

2.2        ADVANTAGE OF SSE’S                                                                     10

2.3        ROLES OF SSE’S IN NATIONAL DEVELOPMENT                              11

2.4        PROBLEM OF SMALL SCALE ENTERPRISE                                      15

2.5            CONCEPTUALIZING UNEMPLOYMENT /EMPLOYMENT                17

2.6            ECONOMIC GROWTH                                                                     24

2.7            THE ROLES OF SMALL-SCALE ENTERPRISE                                27

2.8            FINANCES OF SMALL – SCALE ENTERPRISE                                30

2.9     THE NIGERIA BANK FOR COMMERCE AND                                    INDUSTRY (NBCI)                                                                                      32

CHAPTER THREE: RESEARCH METHODOLOGY

3.1     INTRODUCTION                                                                                37

3.2       RESEARCH DESIGN                                                                         37

3.3       RESTATEMENT OF RESEARCH QUESTIONS                                   37

3.4       RESTATEMENT OF RESEARCH HYPOTHESES                                38

3.5       THE POPULATION OF THE STUDY                                                   38

3.4        SAMPLE SIZE AND SAMPLING PROCEDURE                                   38

3.5        SOURCE OF DATA/METHOD OF DATA COLLECTION                     39

3.6        METHOD OF DATA ANALYSIS                                                          39

CHAPTER FOUR: PRESENTATION AND ANALYSIS OF DATA COLLECTED

4.1       INTRODUCTION                                                                                40

4.2       DATA PRESENTATION AND ANALYSIS                                             40

4.2.1   TESTING OF HYPOTHESIS                                                               55

CHAPTER FIVE: SUMMARY RECOMMENDATION AND CONCLUSION

1.1        SUMMARY                                                                                        59

5.2     CONCLUSION                                                                                   60

5.3     RECOMMENDATION                                                                         62

5.4     SUGGESTION TO FURTHER STUDIES                                             63

BIBLIOGRAPHY                                                                                65

QUESTIONNAIRE                                                             67

CHAPTER ONE

INTRODUCTION

1.1   BACKGROUND OF THE STUDY

Interest in the role of small and medium-sized enterprises (SMEs) in the development process continues to be in the forefront of policy debates in developing countries. The advantages claimed for SMEs are varies, this include: the encouragement of entrepreneurship; the greater likelihood that SMEs will utilize labour intensive technologies and thus have an immediate impact on employment generation; they can usually be established rapidly and put into operation to produce quick returns. SME development can encourage the process of both inter- and intra-regional decentralisation; and, they may well become a countervailing force against the economic power of larger enterprises.

FINANCING SMALL SCALE INDUSTRIES IN NIGERIA (A Case Study of Selected Small Business in Lagos Sub-Urban)