SMALL-SCALE INDUSTRIES DEVELOPMENT IN ANAMBRA STATE: PROBLEMS AND PROSPECTS (A CASE STUDY OF AWKA AND NNEWI INDUSTRIAL AREAS)
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SMALL-SCALE INDUSTRIES
DEVELOPMENT IN ANAMBRA STATE: PROBLEMS AND PROSPECTS (A CASE STUDY OF AWKA AND
NNEWI INDUSTRIAL AREAS)
CHAPTER ONE
INTRODUCTION
The dynamic role of small-scale industries as engine of
growth in developing countries has long been recognized. According to Ukeje
(2004:108). It’s accelerative effect in achieving macro-economic objectives
such as full employment, income distribution development of local technology,
as well as diffusion of management skills and stimulation of indigenous
entrepreneurship has been well documented in economic literature. Their
importance has become such as to make them a pivotal focus of economic
development.
That was
exactly what Nigeria did since the second national development (1974-1979) that
is development jof industries, because they have seen the need to be
self-reliance which will lead to genuine development and survival as well as
improve the effective management of local resources, both human and materials.
Development of
small-scale industries was encouraged in the document found in the third and
fourth national development plan, with the aids of providing empowerment
opportunities, management of local resources, thereby recording rural urban
migration. The above plans emphasized that paying attention to agriculture,
manufacturing, education, manpower development, Infrastructural facilities will
improve the quality of life for average Nigerians
1.1 BACKGROUND OF THE
STUDY
Economic
history of various developed countries have shown that industrial revolution
has been the led by small-scale industries which are indeed the bedrock of an
industrial growth.
Nigeria as a
developing nation is battling for her economic survival, which can however not
be achieved without acquisition of industrial and technological power and
enough manpower both skilled and unskilled to cope with the struggle.
Nigeria economy
has in the last two decades passed through various phases, starting from the
oil boom in the seventies and followed by the era of unplanned and reckless
spending our wealth. This is followed with the emergence of economic doom which
has necessitated the introduction of austerity measures and structural
adjustment programme (SAP).
The industrial
growth of the nation has no scientific approach. The planning in some measures
did not analyze the backwardness in the economy. This is noted, as the various
government did not provide adequate encouragement to industrial development of
nation.
Before our
economic problems, foreign capital was cheap and the business of importing and
selling of finished products was most profitable. These importers generated
excess liquidity and invested their funds making in acquisition of landed
property. Investment was merely neglected because of tortuous process of
establishing in Nigeria.
During the
boom, therefore most industrial projects were sponsored by multinationals and
the governments, small industries were neglected as there were little
incentives in manufacturing at low level.
With the
introduction of austerity measures and structural adjustment programme (SAP)
import trade business become more difficult as many commodities were banned or
put on license with high import tariff to conserve foreign funds and encourage
local manufacturers.
Many
businessmen therefore, started thinking of industrial ventures to produce their
wares locally. Hence, the massive investment on small-scale business.
1.2 STATEMENT OF THE
PROBLEM
i. Insufficient
finance
ii. Low
technical base enabling environment and logic supply.
iii. Lack of
managerial expertise
iv.
Communication difficulties
v. Inadequate
infrastructures.
1.3 PURPOSE OF THE
STUDY
i. To
increase the capital accumulation of the indigenous entrepreneurs in Anambra
State.
ii. To
increase the dispersal of industries
iii. To improve
the technological skills and capabilities available in the state.
iv. To motivate
inter-local government area relationship through industrial products patronage.
v. To provide
greater employment opportunities
1.4 SIGNIFICANCE OF
THE STUDY
i. It will
unveil some of the major problems facing the development of small-scale
industries.
ii. To give
the reader an overview of the problems, and the role developing small-scale
industries play.
iii. To benefit
both economists and students who may like to carryout further research.
iv. The findings
and recommendations will be of great value to the small-scale industries as a
way of improving and reducing such problems.
1.6 RESEARCH
QUESTIONS
1. How much
money did you start your business with?
2. Do you
think you have really progress if you compare your initial with the amount you
have now?
3. What type
of business do you operate?
4. Do people
patronize your industry very often?
5. How
efficient are your staffs?
6. Do you
think there will be need to employ more people in your industry?
1.7 HYPOTHESIS
Ho: Insufficient
finance does not affect the development of small-scale in AnambraState.
H1: Insufficient
finance affects the development of small-scale in Anambra State.
Ho: Lack of managerial
skills does not affect the growth of small-scale industries in Anambra State.
H2: Lack of managerial
skills affects the growth of small-scale industries in Anambra State.
Ho: Inadequate
infrastructures does not affect small-scale industrial development in the
state.
H3: Inadequate
infrastructures affects small-scale industrial development in the state.
Ho: Low technical
base does not affect the development of small-scale.
H4: Low technical base
affects the development of small-scale.
1.8 SCOPE OF THE STUDY
This research work carried out in Awka and Nnewi in Anambra
State, which makes it suitable for carrying out marketing research work on
small-scale industrial development.
1.9 DEFINITION OF
TERMS
SMALL-SCALE:
central bank of Nigeria (CBN) defines small-scale business as one which
annual sales turnover is less than half a million Naira.
FINANCE:
The initial capital used to start and maintain a business.
BUSINESS:
Any organization established for economic purpose.
MANAGEMENT: The
process of planning, organizing, directing and controlling the work done by
members of an organization, utilizing available resources within the
organization to achieve its main goal.
DEVELOPMENT: It has
to do with the changes in positive direction in order to improve in a country.
OBJECTIVES: It
is goal that has a comparative short life span and specific measurable
achievement.
INDUSTRY: It
is where raw materials are converted into finished goods, or it could be people
and activities involved in producing a particular thing or services.
MANUFACTURING: It refers to industries that produce goods in
large quantity in factories.
PROBLEM: It
is a difficult situation
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