PROSPECTS AND PROBLEMS OF SMALL SCALE BUSINESS IN NIGERIA (A CASE STUDY OF DE-NICE PURE WATER INDUSTRY, RING ROAD, IBADAN)



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TABLE OF CONTENTS
·        Title page
·        Certification
·        Dedication
·        Acknowledgement        
·        Table of contents
CHAPTER ONE
1.0     Introduction
1.1     Historical Background
1.2     Aims and objectives of the study
1.3     Statement of the study
1.4     Importance of the study
1.5     The scope and determination of the study
CHAPTER TWO
2.0     Literature Review
2.1     Meaning of small scale Business/industries
2.2     Characteristic of small scale industries
2.3     Types of small scale industries
2.4     Source of finance
2.5     Impacts of small scale business in Nigeria
2.6     Failure of small scale business
CHAPTER  THREE
3.1     Introduction
3.2     Re-statement of major research method
3.3     Procedure for data processing
3.4     Characteristics of the study population
3.5     Sampling method
3.6     Instrument of the study.
CHAPTER FOUR
4.0     Introduction
4.1     Analysis of data
4.2     Data presentation and analysis
CHAPTER   FIVE
5.1     Conclusion
5.2     Recommendation
BIBLIOGRAPHY/REFERENCES
QUESTIONNAIRE

CHAPTER ONE

1.0     INTRODUCTION

Size is a relative term. A business may be considered big in itself and yet be small when compared with other business in the same industry.
Small-scale enterprises therefore have varying definition in actual sense, the term small scale enterprises mean small scale business factories, industries where a small amount of capital is invested.
Small scale enterprises characterized by it capital investment.
Although various schools of thought have defined small-scale enterprises using the parameter below:-

i.                   Total Investment Cost.
ii.                 Size of work force
iii.              Level of Turnover
iv.              Operational Environment.


In an attempt to bring forth a standard definition, let us view some following definition by different bodies.
In February 1994, the Central Bank of Nigeria (CBN), Define Small Scale thus, for this purpose (lending mine) a small scale enterprise is an enterprise whose total cost excluding cost of land but including working capital is above #1 million but does not exceed #10 million.

The Nigeria Industrial Development Bank (NIDB) classifies a Small-Scale business with project cost not exceeding #750,000.
Also, Centre for Industrial Research and Development (CIRO) O.A.U. Ile- Ife, Define Small scale enterprises as one with the total investments capital not exceeding #250,000 and employed not more than 50 full time workers.
But within the context of present Nigeria general economic situation such as population level, exchange rate, cost of capital e.t.c.
Small scale enterprise could be defined as one with total investment cost less than #50 million, which employ not more than 50 workers (including the casual workers). Nevertheless the minimum investment capital or minimum number of employees need not to be listed and is often taken for granted.


REASONS FOR SMALL SCALE ENTERPRISES
There are several reasons why individual want to start business of their own. Some changes in the society often create need for development of business entrepreneurship. In any case, other reasons may include any of the following listed below.

i.                   To provide needed service to the community
ii.                 To utilize available resources more effectively.
iii.              To employ people including oneself.
iv.              To practice trade for which one has been trained
v.                 Inability to secure employment.


1.1    HISTORICAL BACKGROUND OF DE-NICE WATER NIGERIA LIMITED RING ROAD, IBADAN. NIGERIA

DE-NICE PURE WATER was established in the year 2003 under the management of OTUNBA ISHOLA BAKARE, as the MANAGING DIRECTOPR OF THE COMPANY.
The company is owned, controlled and financed by the owner. Therefore the business is regard as sole-proprietorship ( one man business).
The Company was established mainly for the manufacturing and marketing of DE-NICE WATER WITH NAFDAC Registration number 01-0094L and their product is produced under a clean environment.
DE-NICE is located at RINGROAD IBADAN and they also have another branch at ABEOKUTA IN OGUN STATE. Therefore, DENICE WATER is known as one of the best pure water industries in the state.
The business is operated as one-man business and does not have shareholders. They aspire to carryout the following aims and objectives.


i.                   To promote small and medium scale business in Nigeria
ii.                 To assist Nigerian government in solving the problems of unemployment and other economics vices
iii.              To alleviate the plight of unemployment in our country by providing jobs for the citizens who are roaming about the street by giving them advice to invest in small and medium scale Business.
iv.              To contribute positively to the Gross Domestic product.
v.                 To serve as a viable source of material and information for small and medium scale business.



As a sole proprietorship from a business, DE-NICE WATER is affected by some factors which serve as hindrances and obstacles to its growth and development. The problems include:-



i.                   Lack of incentive from government
ii.                 Huge taxation
iii.              Low income of customers

1.2     AIMS AND OBJECTIVES OF THE STUDY
i.                   To ascertain contribution of small scale business to capital formation
ii.                 To what extent has DE-NICE WATER contributed to Gross Domestic product (G.O.P)
iii.              To know the level of employment generation by De-Nice water.
iv.              To determine how its management has contributed to the economy.
v.                 To device way by which small business can be better managed.
  




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