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THE IMPACT OF SMALL AND
MEDIUM SCALE ENTERPRISE DEVELOPMENT ON YOUTH EMPOWERMENT
CHAPTER ONE
INTRODUCTION
1.1 Background to
the Study
Small and Medium Scale Enterprises are sub-sectors of the
industrial sector which play crucial roles in industrial development (Ahmed, S.
2006). Following the adoption of Economic reform programme in Nigeria in 1981,
there have been several decisions to switch from capital intensive and large
scale industrial projects which was based on the philosophy of import
development to Small and Medium Scale Enterprises which have better prospects
for developing domestic economy, thereby generating the required goods and
services that will propel the economy of Nigeria towards development. It is
base on this premise that Ojo O. (2009), argued that one of the responses to
the challenges of development in developing countries particularly, in Nigeria,
is the encouragement of entrepreneurial development scheme. Despite the
abundant natural resources, the country still finds it very difficult to
discover her developmental bearing since independence. Quality and adequate infrastructural
provision has remained a nightmare, the real sector among others have witnessed
downward performance while unemployment rate is on the increase. Most of the
poor and unemployed Nigerians in order to better their lots have resorted to
the establishment of their own businesses. Consequently, Entrepreneurship is
fast becoming a household name in Nigeria. This is as a result of the fact that
the so called white collar jobs that people clamor for are no longer there.
Even, the touted sectors (Banks and companies) known to be the largest employer
of labour are on the down-turn following the consolidation crisis and
fraudulent practice of the high and mighty in the banking sector. The companies
of course are folding up as a result of erratic power supply, insecurity and
persistent increase in interest rate which has lead to high cost of production
and undermines profit making potentials of companies operating in Nigeria. As a
result of banking sector practices and continuous folding up of companies, a
lot of Nigerians are thrown into unemployment
which inevitably detriment the economic situation of the country.
Since the office jobs that people desire are no longer there
for the teeming population, and few ones that succeeded in getting the jobs are
thrown out as a result of the factors identified above, the need for the
government and the people to have a rethink on the way-out of this mess became
imperative. Hence, the need for Small and Medium Scale Enterprises (SMEs)
became a reality as a means of ensuring self independent, employment creation,
import substitution, effective and efficient utilization of local raw materials
and contribution to the economic development of our dear nation (Nigeria). All
the aforestated benefits of Small and Medium Scale Enterprises cannot be
achieved without the direct intervention of the government and financial
institutions. Over the years, a number of policies have been formulated by the
government with a view to developing Small and Medium Scale Enterprises. The Nigerian
government under the then leadership of Chief Olusegun Obasanjo promulgated
micro-finance policy and other regulatory and supervisory framework in 2005.
The research will therefore examine the impact of small and
medium enterprise development on youth empowerment in Kaduna metropolis.
1.2 Statement of the
Problem
There has been stunted growths and sluggish development in
the small and medium enterprises (SMEs) regardless of increasing targeted
government assistance streamlined to benefit firms operating in this sector.
There were several policies in the past which gave priorities to
entrepreneurship development, indicating the trust in government policy in
support of SMEs. The government of Nigeria identified entrepreneurship
development as a major thrust to achieve economic development through SMEs
growth and development.
This made Nigerian government both at National and State as
well as local government to prioritize small and medium enterprises development
initiatives by. As such the prioritization of the small and medium scale by
government at different level is echoed in almost every policy document.
For example in the industrial development policy in vision
2020, the Nigeria aim is to promote and support small and medium enterprise as
they are viewed as an important engine for employment creation and economic
growth. Although the government of Nigeria has been advancing targeted support
in marketing, management and finance and worse still others collapsed. Egbe
(2004) in this regard rated Nigeria as having one of the lowest small and
medium scale sector’s share of employment in the world, when “250 employees”
was considered the yard stick in the definition of small and medium scale
enterprise. Targeted government assistance has been observed to play a pivotal
role in starting, growing and medium scale enterprise in Nigeria, (Beck, 2005;
Zainab, 2008; Herbert 2008 and Atino, 2001). Although some entrepreneurs in
SMEs have received both financial and non financial assistance, many are still
small or are facing viability problems. In Nigeria, the SMEs sector is facing
to contribute meaningfully to the national economy as was experienced elsewhere
when governments advanced target support. Targeted government support to SMEs
was found to translate into economic development in countries like Indonesia
where SMEs accounted for 98% of employment creation and growth with Japan and
Thailand having their SMEs contributing 81% and 78% to gross domestic product
(GDP) (Okoh, 2009).
This contrast has promoted the researcher to carryout a study
to investigate the impact of small and medium scale enterprise on youth
empowerment in Kaduna. As well as to find out the forms of government support
render to small and medium scale enterprises in Kaduna.
1.3 Objective of the
Study
The central objective of the study is to examine the impact
of small and medium scale enterprises development on youth empowerment in
Kaduna Metropolis. The specific
objectives are:
i) To assess
how small and medium scale enterprises development affect employment generation
in Kaduna Metropolis.
ii) To
investigate the forms of targeted government support rendered to small and
medium scale enterprise in Kaduna Metropolis.
iii) To analyze
the efficacy of government capacity building programmes and support to promote
the development of SMEs among youth in Kaduna Metropolis.
iv) To evaluate
the sufficiency of youths empowerment through SMEs development initiatives in
Kaduna and recommend possible policy adjustments.
1.4 Research
Questions
In order to affectively investigate the problem of this
research, the researcher formulated the following research questions:
i. What are
the effects of small and medium scale enterprises development on employment generation in
Kaduna Metropolis?
ii. What kind
of support does the government render to small and medium scale enterprise in
Kaduna Metropolis?
iii. How
effective is government capacity building programmes and support in promoting
the development of SMEs among youths in Kaduna Metropolis?
How sufficient is youth empowerment through SMEs development
initiative in Kaduna Metropolis?
1.5 Statement of hypothesis
In order to confirm the impact of SMEs development on youth
empowernment in kaduna metropolis and fully appreciate their respective
relevant significance, the following hypotheses is postulated:
H0: There is no significance relationship between SMEs
development and youth empowerment in Kaduna metropolis.
H1: There is significant relationship between SMEs
development and youth empowerment in Kaduna metropolis.
1.6 Significance of
the study
The study will be beneficial to entrepreneurship development;
as such Kaduna state government can utilize the findings of the research as a
basis for policy formulation as regard entrepreneurship development.
The study will also contribute to the existing knowledge on
entrepreneurship development.
It is also worthy to note that the study can be use as a
basis for further research, as the research can be use as a spring board for
further research as well as a good reference material to students undertaking
similar research.
1.8 Scope of the
study
The study covers an empirical examination of the effect of
small and medium scale development on youth empowerment in kaduna metropolis.
The study also identifies the practical approaches use in developing
entrepreneurship as well as the problems militating against entrepreneurship
development. The study is limited to Kaduna metropolis.
The study covers a time from 2006 – 2011.
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