IMPACT OF SMALL AND MEDIUM ENTERPRISES ON ECONOMIC DEVELOPMENT IN NIGERIA (A CASE STUDY OF SOME SELECTED SMES IN OWERRI)

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IMPACT OF SMALL AND MEDIUM ENTERPRISES ON ECONOMIC DEVELOPMENT IN NIGERIA (A CASE STUDY OF SOME SELECTED SMES IN OWERRI) (ECONOMICS PROJECT TOPICS AND MATERIALS)

 

Abstract

This study, the impact of small and medium scale enterprises on economic development in Nigeria (a study of some selected SMEs in Owerri) as information is the life wire of any business organization, so in human resources planning, the blood of any organization. The study used survey design method, the population of study consists of 200 staff of the selected organization (a study of some selected SMEs in Owerri) and Yaro Yamen formula was used to determine the sample size both primary and secondary sources of data were used which resulted to fourteen (14) questionnaires and the research questions were analyzed with simple percentage and frequency table. The major finding was that proper human resources planning play, a vital role in the growth of every organization. It was concluded that every organization must meet up with their manpower planning in other to efficiently and effectively achieve its goals and objectives it was recommended that organization, should attach great motivations to their employees to enable them achieve corporate objectives.

1.0 INTRODUCTION

1.1 BACKGROUND OF THE STUDY

After about a decade and a half, the adopting an industrialisation strategy based on large scale industries mostly of the assembly type, Nigeria has achieved only a fragile industrial development. A little after independence, some small scale industries could not really continue to exist let along flourish due to the fact that they were either swallowed up by the larger one or by foreign firm. The large scale industries which were set up tended it be capital intensive which were set up traded to the capital intensive and inappropriate given the country’s resource endowment their capital equipment and technical manpower has continued to be largely imported. As a result, the triple objective of salting up the plant achieved up it 20 percent in local raw material sourcing, instead they are more or less systematic foreign exchange puzzlers with neither the will nor the capacity. A transfer any meaningful technology beyond the primitive type. What is small scale industry?
There are so many definitions of small scale enterprise as these are on the subject.
1. The Nigerian industrial policy describes small scale firms as those with total investment of between N100,000 and N2million, with other exclusion of land and capital.
2. It also defines micro-coverage industries as those whose total investment cost does not succeed N100,000 including working capital but excluding land.
3. For the purpose of this project, a small scale industry is defined as a sole proprietorship business whose size would not allow for elaborate administrative structure. The span of such firms is usually short and concentrated in the hands of one or a few persons.
4. Small scale industries constitute over 70 percent of all registered companies. Thus, it encourage could provide opportunity for employment on a larger scale and make the possibility of adequate distribution of national income more realistic Abilola the intention of the research work was therefore to examine the contribution of impact of small and medium enterprise on the economics development of Nigeria.

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IMPACT OF SMALL AND MEDIUM ENTERPRISES ON ECONOMIC DEVELOPMENT IN NIGERIA (A CASE STUDY OF SOME SELECTED SMES IN OWERRI)

 

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