SMALL AND MEDIUM SCALE ENTERPRISES IN NIGERIA: THE PROBLEMS AND PROSPECTS. By Abiodun Fatai1 Department of Political Science‚ Faculty of Social Sciences Lagos State University‚ Ojo‚ Lagos Nigeria. ABSTRACT Small and medium scale enterprises have long believed to be catalysts for economic growth and national development both in developed and developing countries. In Nigeria where private sector is not well developed SME is assumed to play the role of employment generation‚ facilitator of economic
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INDUSTRIES LARGE-SCALE AND SMALL-SCALE The following pages describe the industrial life and activity of the district. The chapter is divided into three sections: (1) Large-Scale Industries‚ (2) Small-Scale Industries and (3) Labour Organization. It is‚ however‚ to be noted that the statistics given in the section on large-scale industries which include employment and such other aspects as capital investment‚ production etc. are included‚ are not in respect of the industry as a whole but pertain
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dynamic role of small scale business in developing countries has long been recognized (Kayanula and Quartey‚ 2000). These small scale businesses can serve as engines through which the economic growth and employment objectives of developing countries can be achieved. However‚ for many years these rural enterprises have failed to grow beyond their micro enterprise nature and sometimes at best their small or medium size (Kayanula and Quartey‚ 2000). It is believed that private small scale businesses have
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SMALL SCALE BUSINESS MANAGEMENT This programme comprises modules for learners who intend to start small businesses‚ or are already running some. They may choose those modules that are of interest to them‚ or do the entire programme. The courses enable learners to run businesses successfully and be able to source funds from financial institutions. Programme components There are a total of 10 modules‚ each divided into two topics. Learners who are interested in doing the entire programme leading
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SMALL SCALE PRODUCTION OF YOGURT Yogurt is a sour milk product. Its sour taste is attributed to the presence of lactic acid yielded by bacteria through fermentation. Bacteria that are commonly used in yoghurt production are Streptococcus thermophilus and Lactobacillus bulgaricus. These bacteria have the ability to break down sugars in the milk producing lactate or lactic acid as by-product. Below is a step-by-step procedure in the production of yogurt. Find out from the procedure why
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Task 1 Now being marketing executive and with reference of the above case of McDonald’s‚ discuss the concept of marketing for a service industry (such as Restaurant or Hotel) with relevant examples and also mention its characteristics. (1.1) M1 1.1 Marketing Marketing is the process to find out the needs‚ wants and the customers’ demands so that the customers will be satisfied after using that product. The process of discovering and translating consumer needs and wants into product and service specification
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References: Abaka‚ E.K.‚ and Mayer P. (eds) (1994). Promotion of Small – Scale Enterprises in Ghana Masilela‚ E. and Rees‚ S. S. (2001). Smes’ access to finance in south africa‚ a supply-side regulatory review Abor‚ J.‚ and Adjasi‚ C.K.D. (2007). Corporate governance and the small and medium enterprise sector: Theory and implications Corporate Governance Vol.7 No.2‚ 2007. Abor‚ J Abor‚ J. and Biekpe‚ N. (2006). Small business financing initiatives in Ghana. Acs‚ Z.‚ Morck‚ R. and Young
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Theories of Growth of Small Enterprises Various theoretical models have been developed which describe the growth of small businesses. One class of theoretical models focus on the learning process‚ either active or passive‚ and the other models refer to the stochastic and deterministic approaches. In the passive learning model (Jovanic 1982 cited in Liedholm 2001)‚ a firm enters a market without knowing its own potential growth. Only after entry does the firm start to learn about the distribution
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TABLE OF CONTENTS Pages 1. Execute Summary............................................................................. 1-3 2. Organization & Management structure........................................... 4 3. Operational Plan ............................................................................. 5 4. Market Plan..................................................................................... 6-11 5. Financial Structure.............
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towards industrial development. The initial efforts were government-led through the vehicle of large industry‚ but lately‚ emphasis has shifted to Small and Medium Scale Enterprises (SMEs) following the lessons learnt from the success of SMEs in the economic growth of Asian countries (Ojo‚ 2003). Thus‚ the recent industrial development drive in Nigeria has focused on sustainable development through small business development. Prior to this time‚ particularly judging from the objectives of the past National
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