PROSPECTS AND PROBLEMS OF SMALL SCALE BUSINESS IN NIGERIA (A CASE STUDY OF FEMO WEST AFRICA LIMITED, ERUWA, OYO STATE)


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RESEARCH PROPOSAL
ON “PROSPECT AND PROBLEMS OF SMALL SCALE BUSINESS IN NIGERIA” (A CASE STUDY OF FEMO WEST AFRICA LIMTED ERUWA OYO STATE)
INTRODUCTION
          In developing countries like Nigeria that is striving to become a developed nation should place a significant recognition to small scale businesses. It is expected that majority of the Nigerians should especially the youth be expose to the business world through enterprise building. They should be able to identify successful entrepreneurs in Nigeria and evaluate the role of small scale business and entrepreneurship in wealth creation.
          As regards to the level of industrialization in Nigeria, there is need to set up many industrial establishment to fill the gap between developed nations like America, China etc. Nigeria in the area of manufacturing large varieties of industrial good and consumer goods. This cannot be solely achieved by medium and large scale businesses because they are limited in number. Small scale businesses which has the most noticeable characteristics of less developed countries like Nigeria has contributed in not a small measure to the national growth. Many of the large scale businesses today like Nigeria Bottling Company (NBC) start as a small scale business.
          Furthermore, Nigeria is practicing mixed economy system, if the activities of government in the area of industrialization, provision of infrastructural facilities and so on and activities of private individuals in these areas are at the peak level, Nigeria might have been among the developed nations of the world. In view of this, it is high time for the Nigerians to embark on industrial projects especially in the field of small scale business to provide suitable employment opportunities for themselves as a self employed man, for those that does not posses the qualities of an entrepreneur and next generation of the Nigeria youth.
OBJECTIVES OF THE STUDY
       I.                To expose young Nigerian to the reasons they have to engage in small scale businesses.
       II.            To identify the impacts of small scale businesses in Nigeria economy.
    III.            To identify the problems of small scale business.
   IV.            To provide relevant solutions to these problems.
SIGNIFICANCE OF THE STUDY
   Small scale businesses plays a vital role in economy development by reducing the rate of poverty in an economy. Small scale business is also a tool to combat chronic unemployment that the country is facing, because if the establishment of small scale business is encouraged there will be many employer or labour, thereby reducing drastically the rate of employment in Nigeria.
   Therefore, the research work tries to study the prospect and problems facing small scale business in the country.
METHODOLOGY
   This research work will be base on two sources of data collection, they are primary and secondary method of data collection. Primary source will include personal interview and questionnaire while secondary source will include textbooks, library, journals, past work and internet. 

SCOPE OF THE STUDY
   The scope of this study research will be restricted to small scla e business in Nigeria only using Femo West Africa Limited Eruwa, Oyo State as a case study.


PLAN OF THE STUDY
   This research work will contain five chapters chapter one will be the introducing part where we will be the introductory part where we will allude ourselves to the basic concept of the study, the chapter will also contain the scope, objectives, significance of the study as well as the research hypothesis.
Chapter two is where various literatures by past authors will be reviewed.
Chapter three covers research methodology adopted, the research design, the method of data collection.
Chapter four covers data analysis and interpretation, in this chapter, data will be collected from staffs of Femo west Africa limited Eruwa, Oyo state.
Chapter five will be the concluding part where the result will be summarized, conclusions, recommendations and suggestion are given.


TABLE OF CONTENTS
·        Title page
·        Certification
·        Dedication
·        Acknowledgement        
·        Proposal
·        Table of contents
CHAPTER ONE
1.1     Introduction
1.2     Objectives of the study
1.3     Research hypothesis
1.4     Significance of the study
1.5     Methodology
1.6     Scope of the study
1.7     Definition of key terms
1.8     Historical background
1.9     Organizational structure
CHAPTER TWO
2.0     Literature Review
2.1     What is small scale business?
2.2     Characteristics of small scale business
2.3     Sources of finance for small scale business
2.4     Small scale investment opportunities
2.5     Impact of small scale industry in Nigeria economy
2.6     Prospects of small scale businesses in Nigeria
2.7     Problems of small scale businesses in Nigeria
2.8     Why do small scale businesses fail?
2.9     Signs of failure in small scale businesses.
CHAPTER THREE
3.0     Research methodology
3.1     Method of data collection
3.2     Study population
3.3     Determination of sample size
3.4     Research instrument
3.5     Validation of research methodology
3.6     Method of data presentation and analysis
CHAPTER FOUR
4.1     Data analysis, interpretation and presentation
4.2     Test of Hypothesis
CHAPTER FIVE
5.0     Summaries of finding
5.1     Recommendation
5.2     Conclusion
5.3     Suggestions for further Researcher
Bibliography
Questionnaire

CHAPTER ONE
1.1     INTRODUCTION
          In developing countries like Nigeria that is striving to become a developed nation should place a significant recognition to small scale businesses. It is expected that majority of the Nigerians should especially the youth be exposed to the business world through enterprise building. They should be able to identify successful entrepreneurs in Nigeria and evaluate the role of small scale business and entrepreneurship in wealth creation.
          As regards to the level of industrialization in Nigeria, there is need to set up many industrial establishment to fill the gap between developed nations like America, China etc. and developing countries like Nigeria in the area of manufacturing large varieties of industrial and consumer goods. This cannot be solely achieved by medium and large scale businesses because they are limited in number. Small scale businesses which has the most noticeable characteristics of less developed countries like Nigeria has contributed in not small measure to the national growth. Many of the large scale businesses today start as a small scale business.
          The inability of government at various level to tackle the problem of employment has made these government to popularize the saying that “government alone cannot provide jobs for every-body, and that the people should learn to be self-employed”. Before now, many people especially the educated ones had always depended on government for employment after graduation from school. Today many are learning and wishing to be on their own rather then looking up to government for employment. There are many universities and polytechnics graduate who have established business of their own and are carry on well. Business being ventured includes poultry, farming, animal rearing, distributive trade, hairdressing and so on. All are established and managed by individuals who desired to be economically independent.
          Despite the problems facing business owners in Nigeria, there are still a million and one opportunities open to them presently and in the future.   


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