The Problems Of Financing A Small Scale Business In Nigeria A Case Study Of Garri Processing Industry Abakpa Nike Enugu

 Since independent Nigeria the giant of Africa has spent much time and resources, both human and a material trying to convince the developed countries and indeed the whole world that she (Nigeria) is capable of developing her industrial capabilities.

 Much of the efforts made in this direction have found expressions mostly in international conference and seminars, newspapers report, radio announcements and various national development plans.

 Industries have actually increase since after the independent, but the disappointing record of economic performance in the last decade has led to the reopening of the debate on the strategy of industrialization.

 Nigeria is still a net import of all sorts of goods from needless to heavy machinery, simple because most of the industries where established for their immediate lucrative such as beer, soft drink and other consumers goods industries without the consideration to nation’s industrial needs or for the utilization of local materials.

 Besides most of the large scale industries before the industrialization decree were foreign owned and were associated with significant possibilities of income leakages.  This inspite of the rapid increases in the gross national productivity (GNP) in last decade, the poorest segment of the population peculiarity those in the rural areas has received relatively little benefit.

 Unfortunately the bulk of Nigeria businesses are small-scale industries of the number of business establishments, they account for about 80% or above of the total number of enterprise in the country.

 The important role they play in the development process was observed by the first progress report of the second National Development plan “in spite of the anticipated rapid growth of the wage sector, the major solution to the nations unemployment problem will have to be found in other areas like agriculture and small scale industries development.

 Inspite of all these, the small scale industries sub-sector has continued to suffer from lack of credit most all the governments financial programmes for the small industrial credit scheme, fund for  small scale industries has remained largely inadequate and of little effect.

 The banks and other financial houses cannot help matters either despite the central bank credit scheme to industries.

 It would be noted in this regard that majority of the small scale industries would not be able to meet the requirement of the bank and other financial institution lending policies. Therefore given this financial constraints.

 It is necessary to stress the point that to succeed in business require some measure of discipline.  Most industrialist expect to make a reasonable profit from the investment of time and resources, that they have to make in other to bring a project to fruition. 

 While this may sound simple enough, the bother line is the fact in an economy wide context, the rate or level of reward that can accrue to various level of effort, discipline and productivity should never be allowed to get out of proportion in relation to effort put in.

 Experience has shown that industrial pursuits have been found to yield for the patient and disciplined industrialist rather than stand for business concern with all kinds of effort mostly unproductive and require no legitimate effort to reap profits in multiple fields.

 After considering the above mentioned statement of facts about industry.  The question is how far are we from being industrialized bearing in mind that it yields for disciplined and patient industrialist, all things being equal.

 Taking cognizance of the fact that a step forward is the beginning of a mile.  Some, therefore Nigeria’s business industrial evolution will only start when positive steps are taken towards adequate financing of small scale business.  The experience of newly industrialized countries has been an eye opener.

 Finance is the greatest problem we are likely to face whenever we talk of establishing a small scale industry.  This is the most crucial aspect of business enterprise and a lot of controversy surrounding the problem of inadequate finance.  A close look on the small scale industries/business, all over the country would help to throw further light on the effect of lack of fund on growing business.  The drastic effect is mostly felt when one tries to study the rate at which our young industries are gradually collapsing.  Even surviving ones are terribly looking for assistance that they are not sure of.

 Funds are scare, hence the growing industries as regarded in this part of the world as never-do-wells especially Nigeria.  When an economy is shaky, growing industries in that economy tend to suffer most and usually stand the taste of time.  Hence, an increase in the number of causalities in this regard.

 The researcher aimed at exploiting the possibilities, problems of financing small scale business/industries.  The project centers on management and financial problems

Cover Page

Title Page

Approval Page

Dedication

Acknowledgement 

Abstract

Table of Contents

List of Table

CHAPTER ONE: INTRODUCTION 

1.1 Background of the Study

1.2 Statement of the Problem

1.3 Purpose of the Study

1.4 Scope of the Study

1.5 Research Questions

1.6 Significance of the Study

1.7 Limitation of the Study

1.8 Definition of Terms

 References

CHAPTER TWO: LITERATURE REVIEW 

2.1 Theatrical Review

2.2 Small-Scale Business Defined

2.3 Management and Organization of Small Scale Business

2.4 Sources of Fund to Small Scale Business

2.5 Problems of Small-Scale Business

 References

CHAPTER THREE: RESEARCH DESIGN AND MYTHOLOGY

3.1 Research Design

3.2 Scope of the Study

3.3 Population of the Study

3.4 Sample and Sampling Procedure/Techniques

3.5 Instruments for Data Collection

3.6 Method of Data Collections

3.7 Method of Data Analysis

 References

CHAPTER FOUR: DATA PRESENTATION AND ANLYSIS 

4.1 Presentation and Analysis of Data

4.2 Summary of Findings

 References

CHAPTER FIVE:  DISCUSSIONS, RECOMMENDATION     AND CONCLUSION   

5.1 Discussion of Findings

5.2 Conclusions

5.3 Implication(s) of the Research Findings

5.4 Recommendation(s)

5.5 Suggestions for Further Research

 Bibliography

 Appendix