THE SURVIVAL STRATEGIES OF SMALL BUSINESS

Abstract

This project examined the Survival of Small Scale Business in the Development of Nigeria economy. It accessed the opinion of some randomly selected staff of Oarie Equipment Service Nig Ltd. The study was carried out through the use of questionnaire, observations and interviews of personnel. The aim is to find out some of the factors that hinder the survival of small scale business in Nigeria. A review of related literature examined the concept. One hundred and thirty three (133) staffs were used as sample in the company under study. Three hypothesis were formulated from the analysis of data, problems that hinders the survival of small scale business identified. In view of these problems, the following recommendations are made among others. The proprietors of small scale business should grant the importation of inevitable raw materials duty free in order to reduce high cost of production. The proprietor of small scale business of local and international bodies should assist small scale business to grow, reduce and maintain proper financial record keeping.