TABLE OF CONTENTS
TABLE OF CONTENT
1.1 BACGROUND TO THE PROBLEM
1.2 PROBLE STATEMENT
1.3 OBJECTIVES OF THE STUDY
1.4 RESEARCH QUESTINS
1.5 RESEARCH HYPOTHESISI
1.6 SCOPE OF STUISY
1.7 LIMITATIONS OF THE STUDY
1.8 DEFDINITION OF STUDY
2.2 MEANING OF SMALL SCALE INDUSTRY
2.3 GOVERNMENT POLICY
2.4 SUPPORT SYSTEMS
2.6 MONETRY POLICY DEVELOPMENT IN FAVOUR OF SMAL SCALE INDUSTRIES
2.7 BEBEFITS OF SMALL SCALE INDUSTRY
2.8 PROBLEMS FACING SMALL SCALE INDUSTRY
2.9.1 FINANCING THE PROJECT
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The target prescribed in 1979 was ten percent (10%) which subsequently raised to sixteen percent (16%).
Even though available data showed that performance of commercial banks against this directive has been disappointing. The central bank intends to spare no effort in ensuring that banks fully couple without compromising the smooth functioning of the nation banning system.
He observed also, that without the development of small scale industries in Nigeria, the nations quest for industrialization will certainly remain forever at stake. It is the opinion of the researcher that future development in our industrialization must address the basic issues of creating linkages without the economy to begin to produce real inputs to our manufacturing activities .
Priority attention must therefore be given to these industries for which domestic inputs could easily be produced. This will bring about agro-allied industries like food processing and other by-products.
The objective should be to maximize the value added in their processing and manufacturing as final goods immediately inputs.
Nzewi and Oze (1985:56) observed that empirical evidence indicates that strong producer incentives to small scale industrialists are necessary not also only to meet the food requirement but also to provide growing input supplies and demand as a foundation for sustained industrial growth.
The present economic constraint may well turn out to be a blessing in disguise to our industrialization effect particularly for dynamic manufacturing sector. For instance, the market determinate exchange rate through seeing with its result and high cost of imported inputs may serve as an impetus for industrialist to intensify their search for local substitutes.
Ekenyong and Nyong (1992) observed that small scale enterprises are regarded an organic part of a viable structure for the attainment meaningful economy development in developing economic like Nigeria.
They are significantly more cost effective in bringing about development than large enterprises because of the perceived linkage and multiplier effects which small scale enterprises have on the performance of the economy and economic growth in general.
Osayameh (1989) observes that the strength that make small scale enterprises more amendable for assistance areas as follows.
1. Personal commitment of the proprietor whose life savings usually form the start up capital.
2. Low initial capital out lay requirement
3. Ease of entry and exit and prevalence of just minimal legal constraints
4. Amenability to business advisory services because of their small size which makes than more responsive to improvement suggestions.
Olashore (1987) Observes that the four main sources of enterprises financing open to small scale industry in Nigeria are.
i. Formal financial institutions such as commercial banks merchant banks, insurance companies and the development bank.
ii. Informal financial landlords, credit and savings...