CHAPTER ONE
INTRODUCTION
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1.0.BACKGROUND OF THE STUDY
Nigerian economy depends on the recognition of Small Scale Business or Small and Medium Enterprise.
Small Scale Business has no definite definition but can be determined by size, capital, and number of emphasis or strength of the business.
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Historical facts show that prior to the late 19th century, Cottage industries mostly Small Scale Business controlled the economy of Europe. (adekass.blogspot.com 2008).
Killiby (1969) and Faleye (1985) all agree that in developing countries like (Nigeria), Small Scale Industries are one of the most effective means of stimulating indigenous entrepreneurship affording private individuals to start business with mineral resources requirement and by affording them the opportunity to manage business themselves.
Small Scale Business helps to build up managerial skills in the populace or community.
1.1 HISTORY OF SMALL SCALE BUSINESS IN NIGERIA
In 19th century, entrepreneurship started when people produced more product than they needed, as such, they had to exchange this surplus. For instance,
if a blacksmith produced more hoes than he needed he exchanges the surplus he had with what he had not but needed maybe yams or goats. So through this exchange of products entrepreneurship or business started.
The modern stage business in Nigeria started with the coming of the colonial masters, who brought in their wears and made Nigerians their middle men. In this way, most of the modern entrepreneurs were engaged in retail trade or sole proprietorship.
1.2 STATEMENT OF PROBLEMS
Despite the growing of Small Scale Business in Nigeria, there are some challenges facing the Small Scale Business especially in the bar and liquid soap making.
This research is being conducted to disclose some of the inhibiting factors that hindering the impact on soap making in Small Scale Business.
These includes:
- Competition among bigger ones
- Insufficient funds
- Illiteracy
- Lack of research skills and technical know how
1.3 OBJECTIVES OF THE STUDY
The aim of this research is to assess the social responsibilities and management process and their impact on small scale business and they are;
To assess the management impact of small scale business in the society.
To assess the benefit of Small Scale Business
1.4 RESEARCH QUESTION
Based on the above problems the following research questions will talk about the problems.
- How important is Small Scale Business in the society?
- Does Small Scale Business made any impact?
- How can Small Scale Business improve in terms of skills and literacy?
1.5 SCOPE OF THE STUDY
The study covers the UK8J.
1.6 LIMITATIONS OF THE STUDY
The limitations of this study are:
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