RISK MANAGEMENT PRACTICES AMONGST SMALL SCALE ENTERPRISES IN BENIN CITY
ABSTRACT
This research study was designed to analyze risk management practices amongst small scale enterprise. On the course of this study, the researcher centered his analysis on some selected manufacturing businesses, servicing businesses and trading business to form a cross section of the small business in Nigeria. The work is aimed at examining the attitude of small scale business owners to risk and risk management. The researcher also intends to determine and examine the nature different types of risk associated with small scale business.
This work also aims at analyzing Gender problems associated with risk management, knowing the problem they encounter, and given possible solutions to address this problem. The overall aim of this to test hypotheses designed for this study and come out with deductions and recommendation that will be of benefits to the small scale enterprises entrepreneurs in Nigeria, if necessary to the world as a whole. There was an hypothesis which was supported by data that were tabulated and analysed on percentages, and chi-square bass.
It is hoped that the recommendation that are made in last chapters of this research study would help to inspire the business owners/administrators to effect changes in their attitude to risk and risk management respectively.
CHAPTER ONE
1.1Â Â Â Â Â Â Â INTRODUCTION
Small scale businesses have played vital roles in the development process in most of the developed economies and even in the developing countries. It has been proved to be one of the most viable sectors with economic growth potential. The successes recorded by the countries were because of serious considerations of the future rewards from sustained investment in this sector. Due to their size and scope of operations these enterprise require relatively small capital investment to start, thereby offering a relatively high labour-to-capital ratio. The demand low technology and managerial skills which are readily available within the society. The extinct to which the opportunities offered by small scale enterprise are exploited and their contributions maximized in any economy depends on the enabling environment created through the provision of requisite infrastructural facilities. These include roads, telecommunications, power, parts, etc. and the introduction and pursuit of policies such as concessionary financing that encourage and strengthen the growth of small scale enterprise.
