ESTABLISHMENT AND MANAGEMENT OF SMALL SCALE ENTERPRISES IN NIGERIA
Need help with a related project topic or New topic? Send Us Your Topic
DOWNLOAD THE COMPLETE PROJECT MATERIAL
ESTABLISHMENT AND MANAGEMENT OF SMALL SCALE ENTERPRISES IN NIGERIA
Chapter one
1.0 Introduction
1.1 Background of the Study
According to Aluko (2005:32), Nigeria is one of the poorest countries in the world, despite receiving over $340 billion in oil revenues over the last two decades. According to him, the human development index is a crucial factor in determining the level of poverty in society.
This includes life expectancy, or death rates, nutrition, pandemics, a lack of access to clean and potable water and public health services, poor sanitation, the rapid spread of HIV/AIDS, and, most importantly, unemployment rates.
Nigeria is known to perform substantially below other countries in many areas. Nigeria’s per capita income is likewise declining. Aluko went on to say that we are poorer now than we were in the 1960s and early 1970s since our per capita income has dropped from $1,450 in 1960 to $340 now.
Seventy percent of Nigeria’s population is poor, living below the international poverty line of $1 per day. The country’s contribution to world GDP is small, at 0.22%.
This research work is focused with how the formation and management of small and medium-sized firms (entrepreneurship) might help to reduce these threats and enable the country to attain its vision 20-20-20. However, a country’s status and position on the global development scale are heavily influenced by its economic structure
specifically the sectoral contributions of the primary (agriculture and mining), secondary (manufacturing, utilities, and construction), and tertiary (all service activities) sectors to national income, input, and job creation.
However, in order to focus and be precise to our research purpose, we will be extremely brief on the topic “Small Business Enterprises and Entrepreneurship”.
The experts believe that small businesses and entrepreneurship play an important role in most economies, whether established or developing. This is due to the catalytic roles that small businesses and entrepreneurs play in national economic and technical development.
1.2 Statement of Problems
Every research project requires a driving force. In relation to this study work, the researcher observed that:
1. Nigeria is currently facing issues of unemployment and rural-urban migration. This has been compared to the alarming annual turnout of school leavers, polytechnic, and university graduates.
2. An increase in the rate of armed robbery, 419, terrorism, and insurgency, among other crimes committed by our unemployed youth.
3. Our country is experiencing a problem with prostitution, human trafficking, and child abuse as a result of the unemployment situation.
4. Government organisations, multinational corporations, and other large business enterprises are laying off some of their employees, while others are closing their doors. In some cases, employees are sent on forced leave because production capacity has been reduced or to reduce operating costs in order to stay in business.
In this regard, the researchers believe that the construction of small and medium-sized firms, as well as entrepreneurship development, can help to create jobs for these groups of youngsters while also lowering crime rates and rural-urban drift.
Thus, with minimal encouragement and financial help, many present educated unemployed workers (youths) can start their own businesses using their previously obtained educational and technical skills.
1.3 Research Hypothesis
The researchers make an intelligent prediction about what the research findings will be. However, the researchers in this project will propose the following study questions.
1. Ho: The formation and management of small businesses have no significant impact on Nigeria’s unemployment rate.
Hi: The emergence of small-scale businesses has had a significant impact on Nigeria’s unemployment rate.
2. Ho: The current high rate of criminality among Nigerian youngsters is not due to the country’s jobless crisis.
Hi: The current high rate of crime among Nigerian youngsters is due to the country’s jobless predicament.
1.4 Objectives of the Study
This study, in addition to being required for the award of a Higher National Diploma (HND) in Public Administration, is intended to help those who are unemployed gain a solid understanding of the establishment and management of small business enterprises in order to become self-employed.
Thus, the study objectives are as follows:
– To investigate the critical influence of establishing and managing small-scale businesses on the country’s unemployment rate.
– To assist Nigerian youngsters who have been involved in one or more crimes to realise that by establishing and managing a small-scale business, they can make a difference in their lives.
– To investigate the critical role of establishing and managing small-scale businesses in enabling quick and sustainable economic development in Nigeria.
– Determine the impact of establishing and managing a small-scale supermarket operation in the Idah local government of Kogi State.
– To teach our unemployed kids how to create small-scale businesses and become entrepreneurs and self-sufficient.
– To teach our unemployed teenagers how to conduct marketing management research.
– Provide them with equivalent expertise of management planning.
Need help with a related project topic or New topic? Send Us Your Topic