PROSPECTS AND CHALLENGES OF SETTING UP SMALL SCALE BUSINESSES IN NIGERIA(A CASE STUDY OF UYO LGA)


PROSPECTS AND CHALLENGES OF SETTING UP SMALL SCALE BUSINESSES IN NIGERIA(A CASE STUDY OF UYO LGA)  

                                                                  TABLE OF CONTENT

Title Page………………..i

Certification………….…ii

Dedication………………iii

Acknowledgement……….iv

Table of content……...…v

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.    Significance of the study

1.7    Scope/Limitations of the study

Limitations of study

1.8    Definition of terms

REFERENCES

CHAPTER TWO: REVIEW OF RELATED LITERATURE REVIEW

2.1 THEORETICAL FRAME WORK OF THE STUDY

2.2 STARTING A SMALL BUSINESS

2.3 CURRENT LITERTURES ON THEORIES POSTULATED NATURE AND SCOPE OF SMALL-SCALE BUSINESS

2.3.1 CLASSIFICATION OF SMALL SCALE

2.3.2 FACTORS THAT AFFECT SMALL SCALE BUSINESS

2.3.3 THE ROLE OF SMALL-SCALE BUSINESS IN ECONOMIC GROWTH

2.3.4 IMPORTANCE OF SMALL BUSINESS ENTERPRISES

2.3.5 ADVANTAGES OF SMALL-SCALE BUSINESS AND SELF EMPLOYMENT  

2.3.6 ADVANTAGES OF SELF EMPLOYMENT  

CHAPTER THREE: RESEARCH METHODOLOGY

3.1 RESEARCH DESIGN

3.2 SOURCES OF DATA

3.2.1 PRIMARY DATA

3.2.2 SECONDARY DATA

3.3 POPULATION OF THE STUDY

3.4 SAMPLE DESIGN AND DETERMINATION OF SAMPLE SIZE

3.4.2 SAMPLE TECHNIQUE SIMPLE RANDOM SAMPLING

3.5 METHOD OF DATA COLLECTION

3.6 METHODS OF DATA PRESENTATION AND ANALYSIS

CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS

4.1 DATA PRESENTATION

4.2 ANALYSIS BASED ON RESEARCH HYPOTHESES

4.2.2 TEST OF HYPOTHESIS

CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATION

5.1 SUMMARY OF FINDINGS

5.2 CONCLUSION

5.3 RECOMMENDATIONS

REFERENCES

CHAPTER ONE

INTRODUCTION

1.5    Background of the study

It is a well-known fact that for every economy to thrive, much emphasis needs to be placed on the establishment of small businesses and the funding of the already existing ones. Aside its importance to the economy, it is a sound way of reducing unemployment in Nigeria.

Every big business starts as a small business, and it started with an entrepreneur (small business), who at first, earns little or no profit. It was the new ideas of small business that brought most big business empires that create multiple jobs for our teeming youths today in Nigeria. Untried ideas become annulations that become concepts that changed the business world. Small business is the basis for the economic back bone of many developed nations. Entrepreneurship is simply what makes a small business grow. Entrepreneurship occurs when an individual develops a new venture, a new approach to an old business or idea, or a unique way of giving the market place a product or service by using resources in a new way under conditions of risk. Small business triumphs and entrepreneurship are closely related to it. It is difficult to separate them. The unemployment situation in the country coupled with the new government instinctive towards easing social tensions among unemployed youths, through the programmed of the National Directorate of Employment (NDE), were intended to lure a lot of unemployed Nigerians, including graduates into self-determination through self-employment. Graduates and school leavers are now realizing that government and the established private companies are not ready to come to their aid directly, through paid employment due to the dividing state of the economy. Government has been playing appreciative role in promoting the survival and growth of small-scale enterprise in recognition of them flexible and adaptive nature as well as their re-generative power in promoting economic growth and development. Government also encourages people to establish their own small scale businesses so as to reduce the problem of unemployment in the country and also reduce the problem of importation of goods, more so, to encourage exportation. Government in believing that a dynamic and growing small manufacturing sub-sector can contribute significantly to the implementation of a wide range development effectives, has thus enunciated various policies to encourage their proliferation and make them veritable engines of growth and development.

1.6    Statement of the problem

It has long been established that small scale businesses or enterprises is an economic booster but setting up this small or medium scale businesses has been an issue in Nigeria since most of the small businesses that have been established has either been stalled or have closed down completely. The lack of growth of small businesses in Nigeria even when some of these businesses have been well funded has been a cause for serious concern as it has made many small business owners job seekers again.

1.7    Objectives of the study

The following would be our aims /objectives of embarking on this study

1.    The examine the challenges of setting up small businesses in Nigeria.

2.    To examine the prospects of setting up successful small businesses in Nigeria.

3.     To study the importance of setting up small scale businesses in Nigeria.

1.8    Research questions

1.    What are the challenges of setting up small businesses in Nigeria?

2.    What are the prospects of setting up successful small businesses in Nigeria?

3.    Are most small businesses established in Nigeria successful?

4.    What is the importance of setting up small businesses in Nigeria?

1.5    Research hypotheses

Ho: there is no significant relationship between the method of SME setup and its eventual success.

Hi: there is a significant relationship between the method of SME setup and its eventual success.

1.7.    Significance of the study

The outcome of this study would greatly benefit prospective small business owners on how to make their small businesses thrive.

This study would also be of importance to economic policy makers, researchers and relevant stakeholders who are interested in an SME driven economy.

1.7    Scope/Limitations of the study

This study is on the prospects and challenges  of setting up small scale businesses in Nigeria with Uyo local government serving as the case study.

Limitations of study

1.    Financial constraint- Insufficient fund tends to impede the efficiency of the researcher in sourcing for the relevant materials, literature or information and in the process of data collection (internet, questionnaire and interview).

2.    Time constraint- The researcher will simultaneously engage in this study with other academic work. This consequently will cut down on the time devoted for the research work.

1.8    Definition of terms

SME:small scale enterprises

Prospects:A person regarded as likely to succeed or as a potential customer, client, etc. it can also be the possibility or likelihood of some future event occurring.

Business:    commercial activity.

REFERENCES

Agbo, G. O. (2000). Small Scale Business Management. Uyo: Iyke venture Production

Ani, B. N. (1999). Entrepreneurial Development an Overview. Uyo: J.T.C Publishers

Ani, B. &Agbo, G. (2002). Small Business Entrepreneurship. Uyo: Nerce Publication

Ezeh, J. A. (1999). Fundamentals of Small Business Management. Uyo: Glanic Ventures Harper, N. (2000). Small Business in Third World, New York: John Wilcy& Sons.

 Ile, N. M. (2001). Small Business Management an Integrated Approach. Uyo: Otuson Nigeria Limited

Ile, N. M. (2001). Entrepreneurship Development the Nigerian Perspective, Umiahia: Distinctive Press

Lawal, O. A. (2001). Success in Economics, (West Africa Edition). Lagos: African University Press in Nigeria

Nwandu, E. C. (2000). Intermediate Statistics. Uyo: J.T.C Publishers Nwandu, E. &Ame, F. (2001). Basic Statistics. (Revised Edition) Uyo: J.T.C Publishers

Okonkwo, J. K. (2000). Introduction to Business and Business Methods. Uyo: John Jacob’s Publisher Ltd.

.


TYPE IN YOUR TOPIC AND CLICK SEARCH.






RESEARCHWAP.COM

Researchwap.com is an online repository for free project topics and research materials, articles and custom writing of research works. We’re an online resource centre that provides a vast database for students to access numerous research project topics and materials. Researchwap.com guides and assist Postgraduate, Undergraduate and Final Year Students with well researched and quality project topics, topic ideas, research guides and project materials. We’re reliable and trustworthy, and we really understand what is called “time factor”, that is why we’ve simplified the process so that students can get their research projects ready on time. Our platform provides more educational services, such as hiring a writer, research analysis, and software for computer science research and we also seriously adhere to a timely delivery.

TESTIMONIES FROM OUR CLIENTS


Please feel free to carefully review some written and captured responses from our satisfied clients.

  • "Exceptionally outstanding. Highly recommend for all who wish to have effective and excellent project defence. Easily Accessable, Affordable, Effective and effective."

    Debby Henry George, Massachusetts Institute of Technology (MIT), Cambridge, USA.
  • "I saw this website on facebook page and I did not even bother since I was in a hurry to complete my project. But I am totally amazed that when I visited the website and saw the topic I was looking for and I decided to give a try and now I have received it within an hour after ordering the material. Am grateful guys!"

    Hilary Yusuf, United States International University Africa, Nairobi, Kenya.
  • "Researchwap.com is a website I recommend to all student and researchers within and outside the country. The web owners are doing great job and I appreciate them for that. Once again, thank you very much "researchwap.com" and God bless you and your business! ."

    Debby Henry George, Massachusetts Institute of Technology (MIT), Cambridge, USA.
  • "I love what you guys are doing, your material guided me well through my research. Thank you for helping me achieve academic success."

    Sampson, University of Nigeria, Nsukka.
  • "researchwap.com is God-sent! I got good grades in my seminar and project with the help of your service, thank you soooooo much."

    Cynthia, Akwa Ibom State University .
  • "Great User Experience, Nice flows and Superb functionalities.The app is indeed a great tech innovation for greasing the wheels of final year, research and other pedagogical related project works. A trial would definitely convince you."

    Lamilare Valentine, Kwame Nkrumah University, Kumasi, Ghana.
  • "Sorry, it was in my spam folder all along, I should have looked it up properly first. Please keep up the good work, your team is quite commited. Am grateful...I will certainly refer my friends too."

    Elizabeth, Obafemi Awolowo University
  • "Am happy the defense went well, thanks to your articles. I may not be able to express how grateful I am for all your assistance, but on my honour, I owe you guys a good number of referrals. Thank you once again."

    Ali Olanrewaju, Lagos State University.
  • "My Dear Researchwap, initially I never believed one can actually do honest business transactions with Nigerians online until i stumbled into your website. You have broken a new legacy of record as far as am concerned. Keep up the good work!"

    Willie Ekereobong, University of Port Harcourt.
  • "WOW, SO IT'S TRUE??!! I can't believe I got this quality work for just 3k...I thought it was scam ooo. I wouldn't mind if it goes for over 5k, its worth it. Thank you!"

    Theressa, Igbinedion University.
  • "I did not see my project topic on your website so I decided to call your customer care number, the attention I got was epic! I got help from the beginning to the end of my project in just 3 days, they even taught me how to defend my project and I got a 'B' at the end. Thank you so much researchwap.com, infact, I owe my graduating well today to you guys...."

    Joseph, Abia state Polytechnic.
  • "My friend told me about ResearchWap website, I doubted her until I saw her receive her full project in less than 15 miniutes, I tried mine too and got it same, right now, am telling everyone in my school about researchwap.com, no one has to suffer any more writing their project. Thank you for making life easy for me and my fellow students... Keep up the good work"

    Christiana, Landmark University .
  • "I wish I knew you guys when I wrote my first degree project, it took so much time and effort then. Now, with just a click of a button, I got my complete project in less than 15 minutes. You guys are too amazing!."

    Musa, Federal University of Technology Minna
  • "I was scared at first when I saw your website but I decided to risk my last 3k and surprisingly I got my complete project in my email box instantly. This is so nice!!!."

    Ali Obafemi, Ibrahim Badamasi Babangida University, Niger State.
  • To contribute to our success story, send us a feedback or please kindly call 2348037664978.
    Then your comment and contact will be published here also with your consent.

    Thank you for choosing researchwap.com.