An Analysis of the Causes of Small Scale Business
CHAPTER ONE
1.0 INTRODUCTION
Historical development and orientation of small-scale industry in Nigeria, small-scale industry orientation is part and parcel of Nigeria evidence bound in our respective communities of what successes our great grandparent made at their respective trading concerns like yam, beans, iron smelting, farming, cottage industries and the likes so. The secret behind the their success at self-relent strategy does not like in any particular political philosophy, so much as in the people’s attitude to enterprise and in the right to which the incentives is adequate enough to make risk worth taking are provided. Economic history is well stocked with enough insight into the humble beginnings of present day grand corporation evidence abound that almost all of the multinational giant corporations were cottage enterprises, growing as their industry grew, and through their own sheer ability, even at the international level in the early stages of her industrialization, Japan’s economy was dominated by traditional industries, cottage firms and by a large number of small-scale firms, drawing their strength not from abundance of capital but rather from her supply or labour. Back home, home in Nigeria, the respective government policies accorded and gave priority to the country’s small-scale enterprises. This has been in recognition that they constituted the fountain head of vitality for the variation economy and consequently their problems have been viewed as those of the nation, by virtue of their number diversity, penetration in all.
Factors of production and marketing contribution to employment and to the prosperity of the particular areas in which they operate, in concrete terms, small scale industries constitute a greater percentage of all registered companies in Nigeria, and they have been in existence for a quite long time. Majority of the small scale industries developed from cottage industries to small enterprises and from small scale to medium
1.0 INTRODUCTION
Historical development and orientation of small-scale industry in Nigeria, small-scale industry orientation is part and parcel of Nigeria evidence bound in our respective communities of what successes our great grandparent made at their respective trading concerns like yam, beans, iron smelting, farming, cottage industries and the likes so. The secret behind the their success at self-relent strategy does not like in any particular political philosophy, so much as in the people’s attitude to enterprise and in the right to which the incentives is adequate enough to make risk worth taking are provided. Economic history is well stocked with enough insight into the humble beginnings of present day grand corporation evidence abound that almost all of the multinational giant corporations were cottage enterprises, growing as their industry grew, and through their own sheer ability, even at the international level in the early stages of her industrialization, Japan’s economy was dominated by traditional industries, cottage firms and by a large number of small-scale firms, drawing their strength not from abundance of capital but rather from her supply or labour. Back home, home in Nigeria, the respective government policies accorded and gave priority to the country’s small-scale enterprises. This has been in recognition that they constituted the fountain head of vitality for the variation economy and consequently their problems have been viewed as those of the nation, by virtue of their number diversity, penetration in all.
Factors of production and marketing contribution to employment and to the prosperity of the particular areas in which they operate, in concrete terms, small scale industries constitute a greater percentage of all registered companies in Nigeria, and they have been in existence for a quite long time. Majority of the small scale industries developed from cottage industries to small enterprises and from small scale to medium
References: Cohenwa (1980), the entrepreneur and small-scale business problems solver, john Willy and Sona (publishing) Business Today (1982) Random House Inc The 3rd National Development Plan of Nigeria Volume 1 (1972-1980) Drum Back C.M Lawyer K and Kelly, Pearce C Drunker Peter (1997) The Future of Small-Scale Business in a changing World, Management in Nigeria page 5. Oshagbemi, T.A (1983) Small Business Management in Nigeria Longman Publishes pp2& 3. 5. Committee for economic development, meeting the special problem of small-scale business (United Nations New York June, 1977) pp. 14 APPENDIX