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THE ROLE OF SMALL SCALE
INDUSTRY IN THE DEVELOPMENT OF NIGERIA ECONOMY
CHAPTER ONE
INTRODUCTION
1.0 BACKGROUND OF
THE STUDY
Small-scale industries have been in existence since time
immemorial. They are earliest form of business that the early men use to get
their needs, basically food, cloths and shelter. They exchanged what they had
for what they wanted. It was latter on that large-scale business started to
emerge and they are now found in a large number, in every country of the world.
However, small-scale industries still form a dormant part of
business enterprises particularly in developing nations, which includes
Nigeria. In recent years, since the adoption of the economic reforms program in
Nigeria (1986), there have been a device switch of emphasis from the grandiose
capital intensive large-scale industrial project to small and medium scale
enterprises linkages for rapid sustainable industrial development based on the
philosophy of input substitution. Small-scale industry is an industry whole
total project cost excluding cost of land but including working capital above
#1million but does not exceed #10million. However, in most developed countries
and the newly industrializing countries of the world, Small and Medium
Enterprises (SME) are generally defined on the basis of number of people
employed to take account of Small and Medium Enterprises (SME) labour intensive
characteristics
At independent in 1966, Nigeria economy was mainly agrarians
industry plays a vital role in economic development in fact, it provided the
brightest hope for generating sustained growth employment improved spinning and
investment.
1.1 AIMS AND
OBJECTIVES OF THE STUDY
This project has been designed to serve as an aid to the
understanding of the roles played by small-scale enterprises to the development
of Nigeria economy and also to suggest effective possible ways of improving
small-scale enterprises in Nigeria so as to feel the contribution of
small-scale industries. The following are considered to be the basic objectives
of the aims or the study:
(i) To
examine the activities and contributions of small-scale industries.
(ii) To
identify the need for improving the small-scale industries.
(iii) To
identify problems associated with small-scale industries.
(iv) To
provide with useful suggestions and solutions how to improve small-scale
industries in an economy.
IMPORTANCE
v It will help an individual to know the necessary
requirement need in setting up small-scale industry.
v An individual will be able to know what appropriate types
of business ownership one should choose.
v It will help an individual to identify the various problems
associated with small-scale industry.
v It will provide useful suggestions and solutions on how to
improve small-scale in an economy.
1.2 THE
SCOPE OF THE STUDY
The research carried out covers Federal ministry of Small and
Medium scale industry Abuja. The research could have been successful but
unfortunately, the minister for the Federal ministry of information went out
with the Director for the Federal ministry of Small-scale industry in order to
conduct an interview for new employee of NBC, which is a bank under the
ministry of (SSI). Later a member of staff of the industry gave a note on the
promotion of small scale and medium scale enterprises as a strategy for Nigeria
economic development.
1.3
STATEMENT OF PROBLEMS OF STUDY
Despite the achievement recorded in the Small-scale
Enterprises (SSE) sub-sector, we are mindful of the fact that we need to
further address certain issues in order to match or even surpass those recorded
by developed and the newly industrializing countries of this world. These
issues includes:
(a) Inadequate
infrastructural facilities: both the Federal and State government are currently
intensifying their programmes to provide industrial estate layouts and
technology for promotion of SME.
(b) Lack of inter
and intra sectorial linkages: as at now, there are low level of linkages
between the cottage industries and Small-scale Enterprises (SSES) ministry has
conducted studies and recommendation of the studies are currently being
appraised.
(c) Poor managerial
capacity: since 1986, the Federal Government has been exposing our small and
medium scale industries to training through various entrepreneurship
development programme like EDPI working- for yourself programme.
(d) Lack of stable
and generally acceptable definition for small and medium enterprises: such
tends to question the basic policy under which activities and programmes an
SMES evolve.
1.4
SIGNIFICANCE OF THE STUDY
I hope this extended essay will be of a greatz significance
to an organization as suggestion which shall be given in this study will go a
long way in assisting them to improve on small scale management. The study will
also help those who want to start small business especially in rural areas.
1.5 LIMITATION OF
THE STUDY
Small-scale business is not easy to define as viewed casually
due to certain reasons, which are stated below:
(i) The
term Small medium and large relatively differs from industrial countries to
country and they’re no unique or universally accepted definition of these
terms.
(ii) It is
also important to recognize that the definition change over a period of time
and depend to a large extent or countries level of development. For example,
“what large scale is in the 1950s may be regarded as small-scale today.
(iii)
Different parameters are used in defining small business. Among the yard
stick used are asset value. Turnover rates number of employees and size within
the industries. However, examples find it difficult to give a single sentence
in defining Small business that could be accepted universally. Reference to the
British committee that was set up in 1969 to enquire on Small firms. They found
it difficult to agree on a single definition that will cover manufacturing,
whole selling and retailing industries thus, the committee used eight (8)
definitions for various groups which ranged form 200 employees for
manufacturing under 50 turn over for retailing 5 vehicles or less for
transport.
1.6 DEFINITION OF
KEY TERMS
Small – Scale Industries: This can be define an industry with
a total capital employed of at least N 1.5 million, includingworking capital
but excluding cost of land, or a labour size of 11 – 150 workers.
Development: Can be seen as a process of acquiring new ideas
and skill process of Acquiring new ideas and skill for the purpose of achieving
individual growth and societal advancement. Thus development involves a complex
of mutual related economic social and political changes.
Quality and Standard: Small entrepreneur are generally
unaware of the importance of standard and quality. They may not have the
facilities for and knowledge about standard.
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