EFFECT OF SMALL AND MEDUIUM SCALE ENTREPRISES ON ECONOMIC DEVELOPMENT IN NIGERIA

Date

2018-08-03

Journal Title

Journal ISSN

Volume Title

Publisher

DEPARTMENT OF BUSINESS ADMINISTRATION FACULTY OF ADMINISTRATION NASARAWA STATE UNIVERSITY, KEFFI

Abstract

The main objective of this research is to evaluate the effect of small and medium scale enterprises on economic development in Nigeria. Small and medium scale enterprises are regarded as a wheel that promote equitable distribution of wealth and narrow down the gap between the rich and the poor, from this, the common man has the opportunity to take part in the economic activities of the nation. The challenge of economic development has remained daunting for Nigeria in spite of the avalanche of economic strategies and measures implemented over the years since independence in 1960, respectable economic development has remained elusive. Nigeria is richly endowed with human and natural resources; still the country is not able to break away from the vicious cycle of poverty. Majority of its citizens are poor and hungry. The indication therefore, meaning that even though resources are necessary for economic development, their existence alone does not constitute a sufficient condition for development it occurs. The methodology used, in meeting up with this objective, secondary data was sourced and used for the renew of literature, while primary data was sourced with the use of well structured questionnaire, which was analyzed using the simple percentage means of data analysis and postulated hypothesis tested, using chi-square X2 statistical tool of test of significance. The findings revealed that there is a significant effect of small and medium scale enterprises on economic development in Nigeria. The development in the economy of Nigeria therefore depends largely in the survival and growth of small scale business, because of their large potentials for creating linkage, employments generation, technological adoption and skills transfer. It is therefore recommended that, government as a matter of urgency should prioritize the small and medium scale enterprise (SMEs) sector, giving it devoted practical and visible attention, with a view to make it virile, vibrant, focused and productive.

Description

Keywords

Citation

A PROJECT SUBMITTED TO THE SCHOOL OF POST GRADUATE STUDIES, NASARAWA STATE UNIVERSITY KEFFI, IN PARTIAL FULFILMENT OF THE REQUIREMENT FOR THE AWARD OF DEGREE IN MASTER OF BUSINESS ADMINISTRATION DEGREE (MBA – ENTREPRENEURSHIP) DEPARTMENT OF BUSINESS ADMINITRATION