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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.
1.7
Limitation of the study
The
study is limited to Kaduna metropolis, as it will be difficult to cover other
part of the state due to the duration of this study.
For
the fact that a survey study was used as the research design as well as the
questionnaire as the research instrument, it is not certain if the same result
would be obtained if other designs and instruments were used. Besides, another
limitation is that the respondents could have either over exaggerated or
understate their responses while scoring the items in the questionnaire. Also
the nonchalant attitude of some of the respondents could affect the validity of
their response to the questionnaire. This limitation should be taking
cognizance of other researches conducting similar studies.
1.9
Definition of terms
- Entrepreneurship:
is an innovative act, which includes endowing existing resources for new wealth
– producing capacity (Afonja, B. 1999).
- Entrepreneur:
An individual that identifies develops and brings vision to life under –
condition of risk and a considerable uncertainty (Bashar, O. 2005)
- Entrepreneurial
Characteristic: These are traits that make an individual an
entrepreneur (Tonga, R. 2009).
- Business
Performance: The success or failure of an enterprise (Tonga, R. 2009).
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