The Role Of Small Scale Industries In Economic Development Of Nigeria

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TABLE OF CONTENT

Title Page

Declaration

Approval Page

Dedication

Acknowledgement

Abstract

Table of contents

 

CHAPTER ONE: INTRODUCTION

Introductory

Objectives of the Essay

Significance of the Essay

Scope and Limitations of the Essay

1.5 Definition of Terms

CHAPTER TWO: LITERATURE REVIEW

Introduction

Definition of Small scale Industry

Characteristics of Small Scale industries

Concept of Economic Development

The Role of Small Scale industries

Problems facing small scale industries

2.7 Future Economic outlook of Small Scale industries

CHAPTER THREE: Summary, Conclusion & Recommendations

Introduction

Summary

Conclusion

3.4    Recommendations

Bibliography

CHAPTER ONE

INTRODUCTION

In developing countries like Nigeria, there is no denying the fact that the small scale industries serve as the foundation or bedrock upon which industrial development could base.  This is because , the small scale enterprise promote stable industrial based and ensure a balanced distribution of industrial development of any nation, either developed or developing.

However, a cursory look at the performance of small-scale industries in Nigeria portrays situation of utter neglect, apathy an general underdevelopment until recently.

This situation has seriously hampered the rapid growth of this important sub-sector of the economy this pathetic situation could be adduced to a number of problems hindering the development of small-scale industries such as, management problem, marketing problem, production problem and financial problems.

Other social problems are the problems of high caliber employee, initial capital and quantitative data among other through these factors such as poor personnel, poor production methods, poor management, poor marketing facilities and inability to maintain customer relations, do cause small business failure.  The singular effect of the inability of small industries to raise required funds and ineffective fund management greatly over shadowed these factors.

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In Nigeria like any other developing countries fail to realize the importance of small scale industries to any economy until recently, the acute shortage of required funds to meet the industrial operational requirements has culminated in their abysm performance and it declining role in the nation economy.

The difficultly of small-scale industries in obtaining required credit facilities and variety of capital issues has further complicated the financial problem facing these industries.  The problems of obtain necessary and right type of financial facilities from formal capital markets at the right time in the right quantity and satisfying term is also a serious factors.

To worsen the already precarious  situation the credit institutions are not  prepared to cater for the special problem involved  in financing small scale industries in Nigeria and its attendant effects on the sub-sectors growth and development..

1.2 OBJECTIVES OF THE ESSAY

The main objective of the essay is to examine the role of small scale  industries in economic development of Nigeria. Other specific  objectives include:

1. To investigate on how the establishment of small scale industries in the economic development
2. To examine how small-scale industries can be managed
3. To identify problems facing small scale industries in Nigeria
4. To examine Future Economic outlook of Small Scale industries in Nigeria

1.3 SIGNIFICANCE OF THE ESSAY

The importance of this essay cannot be over emphasized. The essay will be of significance to the following:

1. Policy significance: It will be a great assistance to the government in making decision concerning economic development
2. Academic significance: This essay will also serve as a reference to other students who want to undertake research.

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