Problems And Prospects Of Establishing Small Scale Enterprises

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