THE ROLE OF SMALL SCALE BUSINESS ON THE ECONOMIC DEVELOPMENT IN NIGERIA

(A CASE STUDY OF ALABA INTERNATIONAL MARKETING)

ABSTRACT

This study, sets to investigate the role of small scale enterprise on the economic development in Nigeria. The introduction part of this study is contained in chapter one, extensively dealt with the purpose of the study. Enumeration of problem in small scale business in Nigeria.

In Chapter two, literatures related to the study are reviewed. The review dealt basically with the historical background of Alaba International Market, meaning, problem, planning and launching of

small scale business in Nigeriae.t.c.

Chapter three was devoted for questionnaire design and research methodology. The questionnaire contains fifteen questions. Chapter four deals with data analysis including the best of hypothesis. Three hypothesis were tested to draw conclusion about the research work.

The hypothesis are:

Small business enterprises play vital role in economic development small business enterprise create job in the economic development small business enterprise in market are the engine of economic development.

Chapter five embrace summary of finding, conclusions arrived at and recommendation base on the findings.

TABLE OF CONTENTS

CHAPTER ONE

INTRODUCTION

1.1      Background of the study

1.2      Statement of the problem

1.3      Objectives of the Study

1.4      Research Questions

1.5      Research hypotheses

1.6      Scope of the study

1.7      Limitation of the study

1.8      Significance of the study

References

CHAPTER TWO

LITERATURE REVIEW

2.0      Introduction

2.1      Historical origin of Alaba International market

2.2      Definition of small business enterprise

2.3      Types of small business enterprise

2.4      Role of small business enterprise

2.5      Problems of small business enterprises failure in Nigeria

2.6      Planning and launching of small business enterprises in trade fair

2.7      Marketing problems of small business enterprises in Nigeria

2.8      The Nigeria government participation in small business enterprise

References

CHAPTER THREE

RESEARCH METHODOLOGY

3.1            Introduction

3.2            Restatement of Research Question

3.3            Restatement of Research Hypothesis

3.4            Research Design

3.5            Population of the Study

3.6            Sampling Method

3.7            Sample Size

3.8            Source of Data

3.9            Data Analysis Methods

3.10        Validity and Reliability

3.11       Limitation of the Study

References

CHAPTER FOUR

DATA ANALYSIS, PRESENTATION AND INTERPRETATION

4.1            Introduction

4.2            Analysis of Age

4.3            Operational Data

4.4            Test of Hypothesis Testing

4.5            Step in Hypothesis Testing

4.6            Discussion of Findings

CHAPTER FIVE

SUMMARY, CONCLUSIONS AND RECOMMENDATION

5.1            Introduction

5.2            Summary of Findings

5.3            Conclusion

5.4            Recommendation

5.5            Suggestion for Further Studies

Bibliography

Questionnaire

CHAPTER ONE

INTRODUCTION

1.1      BACKGROUND OF THE STUDY

The impact of Small Scale Enterprises to the developmentcannot be neglected in everyeconomy,moreespeciallydevelopingnationswhere sustainable economicdevelopment ishighlydesirable small business enterprises have such a crucial impact toplay in the development of an economy in such a way that theycannot be ignore.

According to Osuagwu (2001) small business enterprisesinvolves the use of human and non-human resources towards theachievement of set goals and objectives.Smallbusinessenterprises should form one of the development objectives theycan serve as a source of impact for multinational, thereby replacing existing foreign resources, they are also training ground for local skill ensuring a more equitable distribution of income and reducing the migrating of manpower from the rural to the urban areas.

Small scale enterprises are crucial for economic growth, poverty alleviation and wealth creation. In an economy like Nigeria, small business enterprises has always been faced withcredibility problems, planners experience frustrations when they make their forecast because they did not come out as forecast while no business planners would dream of claiming :n fallibility the crucial things among the business planner is not :or internal prediction are right or wrong but what the forecast is able to produce.

Economic history is well stocked with enough it sights into the humble beginnings of present great corporation, evidence abound that almost all of the multinational giant corporation in America Europe and even Nigeria were cottage enterprises, growing as their industry grew and through their own sheer ability, marketing skills, and effort to reproduce and produce existing products better cheaply. Japan’s economy was dominated by traditional industries, cottage firms and by many SMEs, who drew their strength, not only from the abundance of capital, but from the role of marketing in guaranteeing the growth of small scale enterprise.

Small scale enterprises contributed greatly to Nigerians development by the provision of employment, marketing of goods and services and the growth and development of the rural areas. Ithas also brought about the growth of indigenous entrepreneurship in Nigeria.

1.2      STATEMENT OF PROBLEM

The ineffective and inefficient performance of small scaleenterprises as a result of poor environmental forces in Nigerianecessitated this research. It is important to note that all othermanagement factors considered, the success or failure oforganization small scale enterprise is heavily dependent onenvironmental influences.

Poor or inadequate knowledge of the operating environmentof small scale enterprise adversely affects the performance,survival, growth and eventual success of small scale business enterprises.

1.3      OBJECTIVES OF THE STUDY

·        The extent to which is necessary for the government to support the small and medium scale enterprises.

·        Examine the effectiveness and ineffectiveness of the various government or environmental issues like financialinstitutions; power sectors and level of corruption in the stage.

·         To determine the role and importance of small and medium scale enterprises in the economic development.

1.4      RESEARCH QUESTIONS

In order to achieve the objectives of this research study, theresearch study will attempt to provide answer to the followingresearch questions:

·        What are the roles of small and medium scale enterprises on aeconomic development?

·        How does small and medium scale enterprises create job in economic development?

·        Are small medium scale enterprise in the market the engine of economic development?

·        Howe does small and medium scale enterprises improve the standard of living?

1.5      RESEARCH HYPOTHESIS

Testing the following hypothesis will provide answers to the research questions:

1.        Ho:     Small scale enterprise does not play any role in the

economy development

Hi:       Small scale enterprise plays a vital role in tie economy

development

2.        Ho:     Small scale enterprises does not create job

opportunities in the economy development.

Hi:       Small scale enterprise creates job opportunities in the

economy development.

3.        Ho:     Small scale enterprise in the market are no: the engine

of economy development.

Hi:      Small scale enterprise in the market are the engine

of economy development.

1.6      SCOPE OF THE STUDY

The research work will cover the role of small scale on the economic development the scope of this research will be limited to small scale enterprise in AlabaInternational Market.

1.7      LIMITATIONS OF THE STUDY

These are the constraints on the research work:

·        Financial constraint: when research work suffers frominsufficient fund to execute, it affects smoothness of theresearch work.

·        Time constraint: in a situation where the time available forthe research work is short, this limits the effectiveness ofcollecting and analyzing the research data.

·        Attitude constraint: the research work can be negativelyaffected where the experts and the others concern are not readily responding adequately on the research work.

1.8      SIGNIFICANCE OF STUDY

This research work has the following significance:

·        The study will be useful to the government for job creation.

·        It will be useful to Nigerians who intends to evaluate the roles played by small scale enterprise on economy development.

·        The research equally be a good reference material for future research on the topic.

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