The objective of this research work is to evaluate the effort of Osun State Govern-ment as it affects the small and medium enterprises, also to analyse the success achieved by the said state government in relation to small and medium enter-prises(SMEs). Furthermore, the study explains various schemes that support SMEs in Osun state, and ultimately look into the intrinsic effect of SME’s on the develop-ment of the economy in Osun State.

The theory parts explains how successful SMEs businesses has affected the growth of the nation’s economy ,also highlights various challenges faced with Small and Medium scale Enterprises among which are management issues, financial incapa-bility also economic issues. Furthermore, different loan schemes for SMEs and their functions are discussed, and process involved to have access to them. The materi-als used for this thesis was gathered from books and online resources, also previous studies on the subject.

The descriptive research method is used for data analysis and interpretation. Spe-cifically, co-relational descriptive research method is used which intends to find out whether projects financed by Osun state Government lead to economic development as a result of job creation. And from the analysis of data, there is a perfect strong positive relationship between the numbers of projects financed by the state govern-ment of Osun state and employment creation. This means that if Osun state gov-ernment finances more projects then more jobs will be created through Small and Medium scale Enterprises development.

Keywords: Small and Medium enterprise, economic development, Gross Domestic Product, Nigerian Industrial Development Bank, Small and Medium Industries Eq-uity and Investment Scheme, Bank of Industry, Large-scale Enterprises


Thesis abstract
Tables and Figures
Terms and Abbreviations

1.1       Background to the study
1.2       Statement of the problem
1.3       Research objectives
1.4       Statement of hypothesis
1.5       Justification of the study
1.6       Scope and limitation

2.1       Meaning of small, medium and micro enterprises
2.2       Financing of small and medium enterprises
2.3       Policy programmes for the promotion of small and medium scale enterprises in osun state
            2.3.1 Industrial loan schemes
            2.3.2 Micro, small and medium enterprises development fund (msmedf)scheme
2.4       Contribution of small and medium enterprises to national gdp
2.5       Agri-business and industrial development in Nigeria
2.6 Agriculture as a vehicle for the industrial development of Osun state of Nigeria. (Professor Tomilayo O. Adekanye's paper presentation in 2005)
2.7       The role of the financial sector in accelerating economic development in Osun state; challenges and prospects (by Mr. Yinka Obaiade MD/CEO Global Bank Pic)
2.8       Theoretical framework of smes and microenterprises

3.1 Area of study
3.2 Research design
3.3 Sample size and sampling procedure
3.4 Research instrument
3.5 Sources and collection of data
3.6 Measurement of variables
3.7 Data analysis technique

4.1 Formula
4.2 Conclusion

5.1 Summary
5.2 Conclusion
5.3 Recommendation


1.1     Background to the study

Small and Medium Enterprises (SMEs) have performed substantially in the growth, development and industrialization transformation of many economies worldwide. However, the growth of these SMEs itself is a big challenge. For decades, people have been depending on government for survival, ability to establish and carry on the smooth running of profitable business was not in people. Inability to forecast and foresee the business opportunity available in the environment is what sometimes seen among the major problems. People might conceive business ideas of an en-terprise yet, it is the first stage to start and merely conceiving the idea will not give the guarantee for success.

In the case of Nigeria, SMEs have performed under expectation due to a combina-tion of issues which vary from attitude and habits of SMEs themselves through en-vironmental associated factors, economic instability, instability of governments and frequent government policy changes and somersaults.

The top ten areas where SMEs are struggling with at various levels in Nigeria in de-creasing order of intensity include: management, financial access and assistance, robust infrastructure, inconsistent and unstable government policies, institutions and bureaucracy, environmental related issues, multiple and rigid taxes and lev-ies, technological unavailability and barriers, marketing problems, unfair competi-tion, and at last but the least non-availability of raw material locally (B. A. N. Onugu, 2005).

The possibilities and potentials for SMEs to recover and play as an essential part in the engine of growth, development and industrial transformation, poverty elimination and employment and wealth creation in Nigeria and its states are enormous. Real-izing this potential requires a drastic change from mere paying lip service to practical radical methods and working on the ground and focus on all those areas important for the economy by the government realistically addressing the recognized prob-lems. SMEs are also required to introspect themselves and bring changes in their attitude and habits relating to entrepreneurship development, the governments also need to engage the SMEs in policy formulation and execution at each level (Local, State, and Federal) for maximum effect (B. A. N. Onugu, 2005).

With the changing global economy, the gradual effects of the contribution of govern-ment in Nigeria are now prevalent at the federal, state and even local level, there has been the establishment of successful small and medium scale business by in-dividual citizens of Nigeria most especially at the state level. Osun State is one of the states in Nigeria where small and medium enterprises are striving but not hard to survive as a result of the support got from Osun State government most especially in the era of democracy which started some years ago.

Since the introduction of the small scale industries credit scheme in 1974 by the Federal Government in conjunction with the then state governments, and the finan-cial commitment to assist its growth, the sector has witnessed a tremendous devel-opment in the area of manufacturing, processing and service industries. Even after the withdrawal of the Federal Government financial assistance, the scheme contin-ues to wax stronger on the old Oyo State and Osun State.

Small-scale industries have been acclaimed globally as having a wide geographical spread throughout the economy and contribute the best means for the achievement of balanced technological and managerial skills and ensuring that such skills reach the rural areas of the country. They provide employment to a large number of work-ers who could not normally be the more formal sector of the economy.

To boost the growth of this sector, Government has put in place a number of policy measures backed with appropriate legislation for the establishment and sustenance of small-scale industries in the country. The policy measures tend to encourage and protect the sector.

Finance, which is one of the major determinants in the successful operation of small-scale industries, has been reported to be inadequate over the years. The banks that are expected to assist are not willing due to the risky nature of such venture in small-scale industries. However, this aspect is receiving the attention of Government and private sector...

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Item Type: Project Material  |  Size: 49 pages  |  Chapters: 1-5
Format: MS Word   Delivery: Within 30Mins.


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