AN EVALUATION OF GOVERNMENT INCENTIVES SCHEMES TOWARDS SMALL SCALE (A CASE STUDY OF SOME SELECTED SMALL SCALES FIRMS IN ENUGU METROPOLY)
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ABSTRACT
Small scale
enterprises are expected to play a vital role towards the development of the
economy due to closeness to the grassroots.
But unfortunately they are unable to do this due to lack of fund. As a result of this, government came up with
incentive schemes to assist them develop their business and the economy in
general.
Therefore this project that is organized in five chapter this
format discusses what promoted the researcher to carry out research on this
topic, the aim of the project, the significance, scope, limitations and
delimitation. Chapter two deals strictly
on literature review, where the researcher criticized the works of the
authorities in the field, find out where they conflict and where they are
agree. Chapter three explains the
research method adopted. It was in this
chapter that we discuss where we source out data, this location and instrument
for presentation and analysis.
Tables and percentages were used in data presentation while
chi-square (X2) was used to analyse the data collected in chapter four.
Finally, chapter five discusses the conclusions and
recommendations. However it was equally
inferred in the work that further research is encouraged in this topic as the
need to trigger off development by adequately findings the small scale
enterprises necessarily name. I send my very sincere thanks across the
space. May we remain blessed?
Chime Benedette O.
TABLE OF CONTENTS
Title page
Approval Page
Dedication
Acknowledgement
Abstract
Table of content
CHAPTER ONE
1.0 Introduction
1.1 Background of
the study
1.2 Statement of
problem
1.3 Purpose of the
study
1.4 Significance of
the study
1.5 Research
questions
1.6 Scale /Area
study
1.7 Definition of
terms
CHAPTER TWO
2.0 Literature
Review
2.1 The role of
small scale business enterprises
2.2 Advantages of
small scale business enterprise
2.3 Problems of
small business in Enugu state
2.4 Source of small
scale Business finance
2.5 Government
policies and incentives
CHAPTER THREE
3.0 Methodology
3.1 The design of
the study
3.2 Population of
study
3.3 Sample
/sampling Technique
3.4 Instrument for
data collection
3.5 Validity
/Reliability of instrument
3.6 Method of data
collection
3.7 Method of data
Analysis/presentation
CHAPTER FOUR
Data presentation and analysis
CHAPTER FIVE
5.0 Summary and
conclusion
5.1 Recommendations
5.2 Limitation of
study
5.3 Suggestion
/Area for further studies
Conclusion
Reference
CHAPTER ONE
INTRODUCTION
Background of study:
Many economic analysts in Particular have described government incentive
schemes towards small-scale business in Nigeria and Enugu metropolis as a well
development especially in this
period of low level of economic activity and slow rate of growth of the economy
as well as its devastating effects on the demand for labour. Undoubtedly the slow rate of economic growth
in the state explains why few job opportunities are available. In most parts of the world, the importance of
small scale business enterprise is not over emphasized in the process of
socio-economic development of the country.
It has become sufficiently clear that large scale enterprises have not
and cannot alone play the dynamic role that they are supposed to play in the
rapid growth and development of the economy, and prominent among these rates is
employment creation and technogical development. Therefore the need for small-scale
enterprises which will supplement the effects of the large scale business. Small-scale are those business that required
very little capital to set up and to produce goods that will carter for the
needs of the growing population. It is
in the light of importance of small-scale business in Enugu metropolis that
government incentive scheme towards small-scale business will be appreciated.
Incentive in
a literal sense implies that which has motivating influence and serving to
incite actions. These incentive schemes
instituted by government provide other non-financial and financial assistance
in the form of loans at affordable interest rate and grants. It is in the light of the above that nation
economic reconstruction fund (NERFUND) and Nigeria bank for commerce and
industry (NBCI) and other development banks were created.
However,
small-scale enterprises have been defined by various authors in various ways
but OSA20 (1984) defined small-scale business as a productive enterprise which
is owned, managed and controlled by one or two persons or family which
influences the decision making and a well has undifferentiated organization
structure but has a small share of the market with less than fifty (5))
employees. While central Bank of Nigeria
annual report and statement of account (1975) defined small-scale business as
those enterprises with annual turnover not exceeding N5,00,000.00
Statement of problem
In spite of the recognition of the role of small-scale
enterprises in fortering economic development through the promotion of
indigenous technology, employment generating activities and bordering the
production base of the economy, the impact has not been given adequate
recognition.
They have been restricted access to institutionalized credit
because banks see them
as high risk ventures (Orji 1996) with the introduction of structural
Adjustment programme (SAP) in 1986 and the inevitable devaluation of Naira,
Many small-scale enterprises found it very difficult to cope with the attendant
high production costs as a result of high cost of imported input and high
interest rates. Therefore, to bridge
this observed gap in gap in banks lending to small-scale enterprises, the
Federal government set up the national Economic Reconstruction Fund (NERFUND in
1989 with aim of providing soft loans on medium and long term basis to
small-scale enterprises wholly owned by Nigerians.
The question
now is, can it be said that the scheme has made desired impact on the
development of small-scale enterprises in Enugu state? Since there are agencies
set up to prove incentives and grants to small-scale enterprises, therefore the
researcher intend to find out why small-scale business does not thrive in Enugu
state. Also to investigate whether the
growth of the economic activity in the state where these agencies actually
providing it only in paper work and not practically. These are some of the critical issues, which
this research work intends to evaluate; hence the topic evaluation of
government incentives schemes towards small-scale enterprises is given.
PURPOSE OF STUDY
The purpose of this research work is to evaluate government
incentive scheme towards small-scale enterprises with firms in Enugu metropolis
as a case study.
This work
will also point out the problem encountered by the small-scale enterprises in
an attempt to receive incentives or loans from banks and as well investigate
whether the incentives when received are properly put to use or not. This also evaluates the role of small-scale
enterprises towards the development of the state economy. Therefore the objectives of this work as
pointed will be summarized thus:
To examine the problems encountered by small –scale
enterprises in Enugu state in attempt to receive loans and incentives.
To determine whether incentives, grants or loans received are
diverted or put to proper use.
To identify the government incentive scheme towards
small-scale enterprises.
To evaluate the role of the small-scale enterprises towards
the development of Enugu state economy.
To make recommendations on proper management of government
incentives and small-scale industries.
SIGNIFICANCE OF STUDY
This research
work, which aims at evaluating government incentive schemes towards small-scale
enterprises in Enugu state when concluded, will be of great benefit to the
folowing interest groups:
THE GOVERNEMNT: this
work will be of great importance to the government of Enugu state. This is because government has the interest
of their economy at heart and equally they are the people that set up this
incentive scheme and as well finance them through subventions. Therefore they will be interested granted to
the small-scale enterprises and as well will like to know whether all these
incentive schemes were actually granted to the enterprises. Also they will want to know whether the
small-scale enterprises actually contributed to the growth and development of
the economy.
SMALL SCALE ENTERPRISES: this is another group that will be
interested in this research work. This is because they are the firm we are
evaluating the incentives given to them.
Therefore, they will like to know how best to put to use the incentive
received from government and as well know the best way to approach government
in order to get more incentives from them and what the government expects from
them when they receive such incentives.
RESEARCH STUDENTS: it will be of great importance to research
scholars who may want to investigate or research further on this topic. It will serve as a source of reference to
this researcher and will help the students to know where to locate data, source
of data and how to present the research work.
This implies that it will make further research very simple
GENERAL PUBLIC: this work will equally be of great interest
to the general public because they will like to know how small-scale
enterprises contribute to the growth and development of the economy, which
affects them. They are potential
investors who can be influenced into going into small-scale enterprises due to
the incentives which government gives to help them growth.
RESEARCHER QUESTIONS
The research is translated into questions of which when
Answered will provide the detail solution to the problem of
study. For this purpose of this research
work, the following questions will be asked and answered.
What are the problems encountered by small-scale enterprises
in an attempt to receive loans and incentives in Enugu state?
What are modalities of receiving grants and incentives by
small-scale enterprises and are the grants put in to other uses?
Is the government incentives scheme set up to help
small-scale enterprises?
What are the roles of small-scale enterprises towards the development
of the state economy?
SCOPE/AREAS OF STUDY
This work is meant to cover the totality of the small-scale
enterprises in Nigeria, but due to the fact that small-scale
enterprises are scattered all over the country thereby making it difficult
within the time frame, the researcher therefore decided to limit the work to
some selected small-scale enterprises within Enugu metropolis. The emphasis will be the modalities of
receiving incentive grants and subventions from government incentives scheme
and how the incentive were put to use towards the development of the state
economy.
DEFINITION OF TERMS
INCENTIVE: this is
defined as anything capable of motivating an individual or organization into
greater performance.
SMALL SCALE ENTERPRISES: This is business that is produced in
small-scale, owned, managed and controlled by one or two persons with staff
strength less than 50 and control a small share of the market.
NERFUND: national Economy Reconstruction fund is one of the
credit schemes that provide soft loans to small scale enterprises
CREDIT: These are loans given to individuals, organizations,
on agreed terms which boast their working capital.
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