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THE ROLE OF SMALL SCALE ENTERPRISES IN ECONOMIC DEVOLOPMENT OF ENUGU STATE

Amount: ₦5,000.00 |

Format: Ms Word |

1-5 chapters |



ABSTRACT

The main purpose of this study is to identify and investigate the role of small scale enterprises in economic development of Enugu State. This will help in assessing their performance and as well identifying  factors  that  hinders  their  operations.  The methodological  approach   adopted   is   the   survey   method   of research. The research looks at the contribution of the small scale enterprises in economic development of Enugu State and its contributions to improving the standard of living, promotion and developing indigenous manpower and helping the large industries. Literature review was made from work done by eminent scholars, professionals, government blue prints on small scale enterprises, and other management practioners. Secondary data was used too and primary data for this study was gathered from questionnaires sampled and oral interview administered to the target population. The data collected were tabulated and analyze using chi-square statistical tools where X2=0E2

The findings of this research shows that

(a)   Small  scale enterprises contribute to  the  economic development of Enugu State.

(b)   The operators of small scale enterprises contribute to improvement in the standard of living.

(c)      Most  established  small  scale  enterprises  promotes  and develops indigenous manpower.

(d)     Finally, the existence of some small scale enterprises has

been a source of supplies to most of some large industries. It concludes that:

(1)     There should be a re-appraisal of government aids to small scale  enterprises and  maintenance of  agencies set up  to support the programme.

(2)     There should be government instruction to check the rising cost of imported machineries and spare parts to increase the operational efficiency of the enterprises.

(3)     There  should  be  motivation and  incentives to  small-scale

enterprises by governments to encourage them.(4)     Government  should  increase  and  intensify  them  revenue drive and generation from this established small scale enterprises to enable them perform their task to increase their operational efficiency.

CHAPTER ONE INTRODUCTION

1.1  BACKGROUND OF THE STUDY

A business whether small or big, simple or complex, private or public is created to provide competitive prices. Businesses in Nigeria are classified as small, medium and large.

Small  scale  business  is  also  seen  as  one  which  is owned, managed, controlled by one or two persons, it is family  influenced  in  decision  making,  has  an undifferentiated  organizational  structure,   has   relatively small share of the market and employ less than 50 people. Big business can hardly survive without the small scale enterprises as they give the important links between the big business and the consumers.

Before the advent of small scale business enterprises, Nigeria   economy   from   1970-1979   was   grossly   over dependent on the drilling of crude oil. The oil boom of the

1970s  offered an  opportunity for  true  national economic development. Despite the oil boom, there was massive corruption, deficient policies, poor policy implementation, favoritism  and  total  lack  of  sensitivity  on  the  part  of

government culminating in the economic doldrums the country finds herself today. The oil boom could not alleviate poverty or reduce unemployment especially graduate unemployment. But this research work will show the role small scale enterprise play in reducing unemployment in the economy.

There were genuine attempts by the Federal Government to make sure that Nigerians play an active and important role in the development of the economy. In the

1970-74 National Development plan, the federal government gave special attention to the  development of  small scale industries particularly in the rural areas. This was in recognition  of   the  roles   of   small  and  medium  scale industries, as the foundations and training ground for entrepreneurship.

1.2  STATEMENTS OF THE PROBLEM

The small scale enterprises are expected in every economy, community or society to play a vital role toward its development. These roles include.

i.      Reducing unemployment especially for people in rural areas.

ii.     Promoting  the  development  of  indigenous  man power as well as increasing local participation in the manufacturing sector.

iii.    Reducing  the  dependence  on  government  and large firm on salaried employment

iv.    Meeting societal financial obligation.

In the bid to achieve these social objectives, the small scale   enterprises  have   fair   share   of   hindrances  and problems. These problems are either internal or external. The internal problems are hinged on the incompetence and inadequacies of the entrepreneurs while external problems are environmental problems. The problems faced by small scale enterprises are: managerial problems that has to do with poor organizational skills, absence of proper control

mechanisms and record books, poor financial management, lack of good planning.

Technical problems: These problems are also inherent in the entrepreneur either because of lack of training in skill acquisition or absence of requisite education. Financial/logistic problem is rated as the biggest problem to the entrepreneurs; for instance, shortage of investment capital, lack of collateral for bank loans, classification by banks as high risk borrowers.

As  a  result  of  these  lapses,  it  became  difficult  to monitor the activities of the small scale industrialists, their achievement, their needs and their influence(s) on the surrounding environment.

1.3  OBJECTIVES OF THE STUDY

The purpose of this study is to investigate small scale enterprises, with the view of finding out.

1.     The  contribution  of   small  scale  enterprises  in economic development of Enugu State.

2.     The role small scale enterprises play in supplying the needs of large industries who have to rely on the small scale operators for business success.

3.     The role small scale enterprises play in promoting the development of indigenous manpower as well as increasing local participation in the manufacturing sector.

4.     The achievement of the small scale industrialists in terms  of  improving the  standard  of  living  of  the population.

1.4  RESEARCH QUESTIONS

1.     Do small scale enterprises contribute positively towards economic development in Enugu State?

2.     How  do  small  scale  enterprises  contribute  in supplying the needs of large industries?

3.     Do  small  scale  enterprises  play  any  role  in promoting indigenous man power?

4.     How do small scale enterprises help in improving the standard of living in the State?

1.5  RESEARCH HYPOTHESIS

In   this   study,   the   following   hypothesis   will   be examined:

Ho:  Small  scale  enterprises  do  not  contribute  positively towards economic development of Enugu State.

HI:   Small   scale   enterprises   do   contribute   positively towards economic development of Enugu State.

Ho:   Small scale enterprises do not play important role in supplying the needs of large industries.

H1:    Small  scale  enterprises  do  play  important  role  in promoting the development of indigenous man power.

Ho:   Small scale enterprises do not help in improving the standard of living in the State.

H1:   Small  scale  enterprises  do  help  in  improving  the standard of living in the State.

1.6  SIGNIFICANCE OF STUDY

Big businesses can hardly survive without the small scale and medium scale enterprises as they give the important links between the big business and the consumer.

The small scale enterprises through its operation can help an economic backward economy become an industrial economy.

This   study   looks   at   the   ways   the   small   scale enterprises will significantly contribute in:

1.     The  provision  of  employment  to  the  unemployed citizens of the State.

2.     Knowing the areas of needs of the large industries in the State.

3.     Promoting the development of the indigenous man power

4.     Providing the standard of living of the State.

1.7  BACKGROUND OF THE STUDY AREA

JUHEL NIGERIA LIMITED is located at Emene in Enugu, capital of Enugu State, Nigeria. It is a 100% indigenous  company  incorporated  in  1987  with  RC  No.

104.648 as a wholesale Pharmaceutical Company. In answer to calls for local provision of coat-effective generic products to fill the gap left by Multinational companies operating in

the country; the founder, Dr. Ifealyi Okoye, mni, with a focused vision, ventured into production and the factory was commissioned in 1989 as the first pharmaceutical tablet manufacturing company in old Anambra state.

The company maintains high quality standard in all its operations. With high production capacity, the policy thrust is  to  continue  to  provide  cost-effective,  affordable,  local alternatives of life saving drugs to the teaming population. There is always our company representative nearer to you are guaranteed good service delivery at your doorsteps.

The company at present service the needs of the countries of the West African sub-region and is poised to reach   out   to   more   countries   in   Africa   and   beyond. Production Capacity for contract manufacturing for individuals, corporate bodies, government and non- governmental agencies is available, and we look forward to going into partnership in achieving our common goals.

JUHEL NIGERIA LTD strong management team comprises  of  accomplished professionals who  excelled  in both  their  academic  and  professional  career.  The  team

leader is Dr. Ifeanyi Okoye, Managing Director and Chief Executive Officer, a Ph.D holder in Phannaceutical technology, a member of national institute, mni, and a fellow of the Pharmaceutical Society of Nigeria, FPSN Dr. Ifeanyi Eric Okoye is a Pharmacist, with an M.Sc and a PhD in pharmaceutical technology, a fellow of the pharmaceutical society of Nigeria and a member of the National Institution Sir R.C Enemuoh is a Microbiologist, with a Post-graduate Diploma in Management, Masters in Business Administration, Masters in International Affairs and Diplomacy. Member, National Institute of Marketers of Nigeria and also member, Nigerian Institute of Management.

Our Brand and product range have since grown in strength and include virtually all therapeutic classes, such as, Antibiotics and Anti-infective, Cardiovascular, Anti- diabetics, Anti-malarial, Cough and Cold, Vitasnins and Minerals, Anxiolytics, Antihistasnines, Analgesics, Antacids and Anti- flatulent, and recently, bottled mineral water Ivy Table Water.

Zodiac Hotel Ltd (ZH)

Zodiac Hotel Ltd is a small scale business establishment. It was established in 1979 at No. 5/7 rangers Avenue. P. O. Box 671 Enugu, Nigeria. Zodiac is a five star hotel. It is a service organization. It deals both in outdoor catering and indoor catering. It has the employment capacity of 150 staffs. The senior staffs are 10 while the junior staffs are   10.   The   senior   staffs   include   both   Managers Accountants, supervisor while the Junior staffs include the Account officers, receptionists, security personnel’s, car washers, cooks, cleaners, room service attendants etc.

The channel of information flows from the junior staffs to the supervisors and to the managers.

1.8  SCOPE OF THE STUDY

This means the boundary of the study. It is the area in which the researcher intends to operate, concentrate and extend  its  operational  tentacles.  It  also  means  the  area where the researcher cannot exceed during the research study.

In this research work, the researcher could not exceed the boundary of  studying the  contributions of  the  small scale enterprises in economic development of Enugu State, improving   the   standard   of   living   of   the   State   and contributing to the development of indigenous manpower in the State.

The   study   is   limited   to   Enugu  state,   with   the researcher concentrating on two(2) small business types which includes:- ZODIAC HOTEL AND JUHEL. The study intends to investigate small scale enterprises and its contribution towards economic development of Enugu State. The research study is concluded by examining the problems and prospects of small scale enterprises with the attendant challenges.

1.9  LIMITATIONS OF STUDY

The researcher obtained all data, information and materials   through   several   means   that   was   thought important for this piece of work. However, putting this write

-up was not easy due to several constraints encountered by the writer during this write up and they are:

1.     Financial constraints: This is one of the major set back the writer encountered in the conduct of this research work. The nature of this research requires the use of questionnaire which invariably requires money. Since the writer is unemployed at the moment, it was very difficult to source for money to finance this research work.

2.     Time constraint: This MBA programme commenced late thereby making it importable for the students to start their research work early enough. In other words, the limited time did not allow me to assess all materials needed for this work.

3.     Reluctance of some people to respond to research question and their inability to understand the questions in the questionnaire.

4.    Dearth of information and administrative bottle neck

There were some cases where it was simply impossible for the researcher to get the much needed information. In such situation, the researcher had no choice than to make use of what information has been made available to her. Sometimes information could not be given out for “official” and “security: reasons.



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THE ROLE OF SMALL SCALE ENTERPRISES IN ECONOMIC DEVOLOPMENT OF ENUGU STATE

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