Thesis Abstract

<p> It also paid attention to the foundling of the small-scale business in Nigeria. Whereas<br>failure of the large-scale import department assembly to propel the country into a<br>satisfactory course of industrialization necessitate the demagnification of strategy to<br>embrace the promotion of small-scale enterprises achievement under the new strategy has<br>not been adequate with expectations of the stated objectives which were economic growth<br>and development through the mobilization of available local resources, employment<br>generation and industrial dispersal as well as mitigation of rural urban migration. Out of<br>a population of eighty drawn from the selected bakeries, sixty seven were selected as the<br>sample size using statistical sample tools (Taro Yamani). A questionnaire was designed and<br>distributed to elicit information from the sample population; also data was sourced through<br>primary and secondary sources. These data collected were presented and analyzed by means<br>of tables and percentages. The hypotheses adduced were tested using such tools as chisquare.<br>It was observed that to achieve economic growth and development to use, such as<br>increasing availability of credit by raising interest rate ceiling and permitting a “spread”<br>that makes it worthwhile for banks to lend to small-scale business or by increasing the<br>number and range of investment etc. problems of small-scale business will be a thing of the<br>past. <br></p>

Thesis Overview

<p> INTRODUCTION<br>1.1 BACKGROUND OF THE STUDY<br>The contribution of small –scale business in fostering economic growth and<br>development has been well articulated in different areas of this study .the specific<br>attention on them based on their expected impact and potential contribution on<br>broad and diversified production base, as well as their accelerative effect in<br>achieving macro objectives pertaining to full employment, income distribution and<br>the development of local technology. They are particularly most conducive for<br>diffusion of management skills and emulation of indigenous entrepreneurship<br>overtime.<br>Small business provides financial opportunity and a chance to develop<br>wealth. It is a place where creative, motivated individuals can use their talents and<br>expertise to the fullest, because it provides satisfying careers and job opportunities<br>and it’s also the back bone of the market economy of the word. Every big business<br>starts as a small business, and it started with an entrepreneur (small business),<br>who at first, earns little or no profit. It was the new ideas of small business that<br>brought about Ekene Dili Chukwu Transport, the FAN Milk, Nnewi “Tokumbo”<br>parts, and even the many commercial banks in Nigeria. Untried ideas become<br>annulations that become concepts that changed the business world. And so it goes.<br>Small business is the basis for the economic well being many developed nations<br>including USA/Japan.<br>Entrepreneurship is what makes a small business successful.<br>Entrepreneurship occurs when an individual develops a new venture, a new<br>approach to an old business or idea, or a unique way of giving the market place a<br>product or service by using resources in a new way under conditions of risk. Small<br>business triumphs and entrepreneurship are closely related to it. It is difficult to<br>separate them.<br>The unemployment situation in the country coupled with the new<br>government instinctive towards easing social tensions among unemployed youths,<br>through the programmed of the National Directorate of Employment (NDE), were<br>intended to lure a lot of unemployed Nigerians, including graduates into self<br>determination through self employment. Graduates and school leavers are now<br>realizing that government and the established private companies are not ready to<br>come to their aid directly, through paid employment due to the dividing state of<br>the economy. Short of the alternatives, Nigerians including our graduates are<br>therefore launching themselves into various small-scale business ventures, such as<br>cottage soap and cosmetics production, fairing, restaurants, fast food, publishing,<br>writing, block making, garri processing, food processing, refuse disposal, taxi<br>driving, cleaning services, weaving, baking tailoring, advertising and other same<br>business venture which depends mostly on local raw materials. The determination<br>to succeed is also fast becoming the order of the day.<br>Government has been playing appreciative role in promoting the survival<br>and growth of small-scale enterprise in recognition of them flexible and adaptive<br>nature as well as their re-generative power in promoting economic growth and<br>development. Government also encourages people to establish their own small<br>business so as to reduce the problem of unemployment in the country and also<br>reduce the problem of importation of goods, more so, to produce exportation<br>products.<br>Government in believing that a dynamic and growing small manufacturing<br>sub-sector can contribute significantly to the implementation of a wide range<br>development effectives, has thus enunciated various policies to encourage their<br>proliferation and make them veritable engines of growth and development. In the<br>third and for the development plans and the on-going three years rolling plan,<br>priority has been accorded industrialization with greater emphasis on small-scale<br>enterprises. The basic activities of government policies as maintained in the<br>monetary and fiscal policy measures, are to improve the financing and other<br>supportive services of small-scale business by expanding and improving access to<br>credit and infrastructural facilities, reducing their production costs, boosting their<br>profitability, enhancing their survival and growth capacities as well as expanding<br>their contributions to non-oil exports by making their products competitive in the<br>export markets.<br>Hardly could any major industry succeed without the services of smallbusiness<br>enterprise. The major goals of any profit oriented business are to make<br>profit. A company will make more profit if statistics its customers need better<br>them the competitors. Therefore in the contribution of small-scale business,<br>bakeries would produce what the customers want and by so doing they maximize<br>profit and only bakeries that are effective and efficient can satisfy customer’s<br>needs. In reality, it is possible to run a business without profit for a time, but it is<br>not possible for to survive for one day without customers. Customers are the<br>central theme of any business. Without a total commitment to them, contribution<br>to economic growth and development will have limited and brief effects.<br>1.2 STATEMENT OF THE PROBLEM<br>Bakery is in the production industry the quality of products rendered by<br>our Bakeries have been attracting criticisms from people in all works of life. The<br>civil servants, business men and the general public are all very critical of<br>production of cookies like bread, chi-chin, cake, meat pie, boons etc. The<br>complaints ranges from those of poor quality of products, poor packages, high<br>prices, poor delivery, shortage of skilled manpower which affects productivity and<br>restrain expansive the use of potassium bromated which National Agency for food<br>and Drug Administration Commission (NAFDAC) banned for health purpose.<br>Most bakeries do not put their customers in the prime place as they<br>supposed to be. There is now keen competition and to compete means to<br>contribute to economic growth and development. Dickson (1971:4), agreed with<br>this view when he said that small scale enterprises are ploughed by inadequacies<br>and serious miss-uses of business records and business information. The problem<br>of poor or wrong location of an industry affects its production. Such as nearness to<br>raw materials, market, sources of power and access to supply of labour and<br>transport facilities etc.<br>Government incentive in industries has previously directed to public<br>investment neglecting private initiative. But a diversified and self-sufficient<br>economy must take into consideration the importance of private sector in capital<br>formation.<br>1.3 OBJECTIVE OF THE STUDY<br>Based on the fact that one cannot build a house on a platter of gold without<br>encountering one or two hassles here and there, so in the genesis and revelation of<br>this work as the researcher encountered several problems the course of writing,<br>which ranges from lack of time, financial and material constraints to the inability<br>of reaching all members of the sample due to transport problems and even those<br>reached tend not to render full co-operation thus the total number of people<br>interviewed became smaller.<br>Other limitations which the researcher encountered in the course of writing<br>are that some of questionnaires distributed to the respondents were not returned<br>despite one or two reminders sent to them, while those that were delivered by<br>hand were non-challantly filled. As such, there have been criticisms about the<br>bakery industries in the way they render services to their customers. i.e. They do<br>not see the customers as king lot in terms of national output and employment.<br>Moreover, Nigeria has various policies on small-scale enterprises in recent<br>National development plan and also in the structural Adjustment programmed<br>(SAP). The researcher wants to carry out a research on what bakeries do and the<br>role they play in economic growth and development the researcher also wants to<br>have an idea base either to support all the sources about the poor impression<br>people have on how to improve their production so as to contribute effectively in<br>national economic growth and development.<br>Bakeries can do more individualized jobs for customers and thereby attract<br>them on the basis of specialty product quality and personal services rather than on<br>the impersonal of price or mass production of largely identical business. Based on<br>the above, the need for studying this topic is to show the effectiveness of smallscale<br>business in national economic growth and development. <br></p>