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FACTORS
AFFECTING SMALL SCALE BUSINESS ENTERPRISES IN KADUNA
ABSTRACT
This project investigated the Factors Affecting Small Scale Business
Enterprises in Kaduna
A sample size of 72 was adopted from
the four small scale business enterprises in Kaduna
The study revealed among other things
that government does not really support the small scale business enterprises to
grow as it was expected and most business enterprise find it difficult to
obtain capital either from the government or the banks. The study has drawn
conclusion that what is really affecting the small scale business enterprises
are lack of capital for expansion. Recommendations are made that government and
banks should give loans to businesses and reduce the interest rates.
TABLE
OF CONTENTS
Title page i
Declaration ii
Approval page iii
Dedication iv
Acknowledgement v
Abstract vi
Table of Contents vii
CHAPTER
ONE
1.0 Introduction 1
1.1 Statement
of Problem 5
1.2 Aims and Objectives of Study 8
1.3 Research
Questions 9
1.4 Significance
of the Study 10
1.5 Scope
of the Study 11
1.6 Limitation
of the Study 11
1.7 Definition
of Terms 12
CHAPTER
TWO
Literature
Review
2.0 Introduction 15
2.1 Definition
of Small Scale Business 15
2.2 The Role and Characteristics of Small Scale
Business
in Kaduna
2.3 Analysis of Factors Affecting Small Scale
Business Enterprises 21
2.4 Policies for Promotion of Small Scale
Business
in Kaduna
2.5 Summary 42
CHAPTER
THREE
Research
Methodology
3.0 Introduction 43
3.1 Area
of Study 43
3.2 Population
of the Study 44
3.3 Sample
Size/Sampling Techniques 45
3.4 Method
of Data Collection 45
3.5 Instrument
of Data Collection 45
3.6 Validation
of the Instrument 46
3.7 Administration
of the Instrument 46
CHAPTER
FOUR
Data
Presentation and Analysis
4.0 Introduction 47
4.1 Major
Findings 57
CHAPTER FIVE
Summary, Conclusions
and Recommendations
5.0 Introduction 61
5.1 Summary 61
5.2 Conclusion 62
5.3 Recommendations 64
5.4 Areas for Further Studies 65
Bibliography 66
CHAPTER
ONE
1.0 INTRODUCTION
Small
scale business constitutes the highest percentage of business establishments in
the country both at the national, state and local levels. Since they are of
great importance to the nation’s economy and industrial development, one
therefore, wonders why such businesses are prone to poor management. However,
the poor management of the rise and fall of these businesses daily are not of
major concern to most of us. This according to Omlekwusi, (1995) is that
people tend to sing success and hide failure.
Basically,
the aim of any businessman is to maximize profit and achieve success. However, the achievement of his objectives
depends on this managerial skill and the quality of those employed. Madu,
Nwaogwugu and Ohiri (1988) noted that incompetence on the part of entrepreneurs
accounts for over 35% of failure in business.
This,
therefore, is traceable to their inability to employ the right caliber of
people, with relevant experience and personal qualification.
To
underscore this point, Frame (1975), Iwuoha, (1993) and Onvekwusis, (1995)
believed that most business collapse within a short period as a result of poor management
t by entrepreneurs and lack of qualified officer workers.
Since
these people lack certain qualifications, they sometimes believe that business
are only run by capital.
According
to Nolan, (1967) and Pophan, (1971) the knowledge of business education makes
one not only a good business manager but also better sales manager. Similarly, Jackson
Therefore,
Yewande (1991) quoting the Federal Ministry of Industries an others defined
small-scale business as one that has a total capital investment of up to 50
persons.
The
World Bank defines it as an enterprise whose total fixed assets (excluding
land) push cost of investment does not exceed N10
million in constant 1998 price index. While the Third National Development plan
puts the capital investment of small scale industry at N150,00. Some years ago
the Central Bank of Nigeria N500,000. It is therefore,
clear that there is no universally acceptable definition of small scale business
for the purpose of this project, a working definition of small scale business
enterprise will be one with a working capital of N100, 000 to N150,000.
Small
scale business enterprises have greater flexibilities which allows this
survival of economicship as compared to the large scale enterprises.
Moreover;
the decision making and renovation process in large scale enterprises are in
habited by rigid bureaucracy. Therefore, small scale business enterprises
development is important and needed by the nation.
The
rote of the government and support institution in the development and growth of
small scale business enterprises cannot be over emphasized. The government’s
rote in encouraging entrepreneurship is not just limited to providing and
economic environment conductive for business and a stable political scene. To
stimulate economic growth entrepreneurship, it must be able to provide the
right combination of political and incentives to attract individuals to become
entrepreneurs. Since government resources are limited, it is then the role of
the support institutions to fill the gab between the resources needed by
entrepreneurs and what the government can provide. This can be in the form of
financial assistance or non-financial services to both enterprises and would be
entrepreneurs. To ensure. The continued effectiveness of the small scale
business enterprises, it is imperative that an analysis of this be made from
the perspective of the entrepreneurs themselves.
1.1 STATEMENT OF PROBLEM
Despite
the wide spread economic reforms by the state government, small scale business
enterprises, seem to face a variety of constraints owing to the difficulty of
absorbing large fixed costs, the absence of economies of scale and scope is key
factors of production, improper monitoring mechanisms by the government, and lack of management
knowledge.
From
the preliminary discussion with some enterprise, the government supporting
institutions do not have formal feedback mechanisms to check whether the
assistance given to small scale business enterprises are adequate and
effective.
The small scale business enterprises are
unable to introduce modern equipment machinery to improve their product due to
financial constraints. It seems that access to finance remained a dominant
constraint to small scale business enterprises in Kaduna
Lack
of managerial know-how places significant constraint on small scale business
enterprise seem to attract most people, they can hardly compete with larger
forms.
Association
providing a voice fro the interest of small scale business enterprises in the
policy role compared to those of larger forms.
One
major problem in Nigeria
The
problems over the years have equally kept foreign investors on the run despite Nigeria
It’s
difficult to make it in business under this environment “the rate at which
power supply is being rationed these days cannot help any businessman. And by
so doing, you will discover that the rate of turnover becomes so low that one
keeps losing customers at the end of the day. Power supply is nothing to write
home about.
Business
operation here is being starved to the extreme. At a time like this, government
should put more effort to salvage business operations in this country. Power.
Supply has not improved even after the so called privatization this is killing
business
1.2 AIMS AND OBJECTIVES OF STUDY
In
the context of the above mentioned problems, the main purpose of this study is
to analyze the factors affecting small scale business enterprises in Kaduna
1.
To identify what the government and
support institutions are doing to facilitate and encourage entrepreneurship
2.
To find out whether small- scale
business enterprises in Kaduna
3.
To investigate whether lack of managerial
knowhow has affected small – scale business enterprises Kaduna
4.
To find out whether small – scale
business enterprises in Kaduna
5.
To study the links between the
government and non-governmental agencies that support small scale business
enterprises.
1.3 RESEARCH QUESTIONS
The
following research question were formulated to guide the study
(1)
What is the government and support
institution doing to facilitate and encourage small – scale business
enterprises?
(2)
Does the inability of small scale
business enterprises to form association in Kaduna
(3)
Does lack the managerial know – how
any effect on the managing of small scale business enterprises in Kaduna
(4)
Do small scale business enterprises in Kaduna
(5)
Are there linkages between the
government and governmental non- agencies that support small scale business
enterprises?
1.4 SIGNIFICANCE OF THE STUDY
Small
scale business enterprises are believed to be a sure room for the development
of an economy like that of Nigeria
Small
Scale Business Enterprise
The
research project will be a source of assistance to the managers of small scale
business enterprises, it will provide a
clue to how they could solve their financial and administrative structure.
The
Government and Supporting Institution
This
research will provide valuable assistance to government and their supporting
institution in the area of suggestion on how to have feed back on the capital
they have advanced to the small scale business enterprises.
Future
Researchers
The
findings of the research will serve as a source of reference to future re
researchers who may wish to replicate this study.
1.5 SCOPE OF THE STUDY
This
project work is restricted to small scale business enterprises in Kaduna
1.6 LIMITATION OF THE STUDY
The result of this
project will be limited on the willingness of the respondent in filling the
questionnaire. Also as some of the small scale business enterprises are
illiterate, this project might be hindered because most of the respondents may
not be willing to disclose the facts especially when it concern. The area of
their financial and control. Also the research work is limited to time and cost
to complete the work.
1.7 DEFINITION OF TERMS
The
researcher wishes to define some important terms used in this study so as to
bring about better understanding o the context in which they are used. These
terms and t heir definitions are as follows:
Small-scale
Business: According to the Act of 1953, (in America
Retailing and services - $1 million or
less annual sales.
Manufacturing - $ 5 million or less
annual sales.
Business
Ownership: This refers to the various forms in
which a business can be owned such as sole proprietorship, partnership,
cooperatives, small business etc.
Economic
Development: Introduction to Business by I.R Onoja
and A.B. Epkah (May 2002) in the basis for continuing industrial progress in
any organization.
Poverty:
This
implies not having enough to eat, unfit shelter, high infant mortality rate,
low life expectancy, poor environmental conditions etc.
Entrepreneurship:
This
is a force that mobilizes other resources to meet current market demand. It is
also the ability to create and build something from practically nothing.
Illiterate:
A
person who has no formal education up to secondary school level although can
speak, read and write.
Finance:
It
is an activity concerning revenue, expenditure and departmental operation and
other effect on the economy.
Industry:
it
is agglomeration of different firms producing similar commodities under
separate management.
Assets:
This is a valuable property that a person or a firm can sell especially to pay
debts.
Resources:
This can best be defined as the sources for economic wealth or means of
achieving something.
Profit:
It
is money gained or benefit obtained from investment.
Gross
Domestic Product: Total Product produce within a country
in a given period of time.
National
Development: This is the transformation of the
society from one state of being to another, changing from traditional way to
modern method.
Development:
This
is the structural changes in the society and the economy.
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