Full Project – The impact of small and medium scale enterprises on poverty reduction

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CHAPTER ONE

INTRODUCTION

1.1     Background to the Study

         In the view of the rapid increase in our population and high rate of unemployment in the society, one means through which people can survive the economic hardship is for both the individual and government to give priority to small and medium scale enterprise establishment of some small and medium scale enterprise (SMSEs) like soap making, cassava processing industry and etc., so through these, the jobless youths on the streets can be engaged with something to do and level of poverty will be reduced.

It is important to provide enabling environment for the establishment of small and medium scale enterprise (SMEs) so that people can stand on their own rather looking for white collar job. There is no unique or universally accepted meaning or definition of small-scale business, the definition varies from one country to another, depending on their level of development. The following are the criteria that are used in defining small and medium scale enterprise (SMSEs) by different scholars.

Although the development of small and medium scale enterprise (SMSEs) industries is seen as a task to some countries or state who attach less importance to the development of youth and employment generation. For this reason, this project is carried out in order to high light the effect of small and medium scale enterprise (SMSE) and the role it play in the development of Kogi state economy when we look at the role played in poverty reduction in the selected small scale enterprise in Kogi state.

Union bank of Nigeria plc and others made some effort over the years to make loans available to customers. i.e. (small and medium scale enterprise (SMSE) at the grassroots level. So lives of the people through the establishment of more small and medium scale enterprise (SMES) to enhance a good living standard of the people in Kogi state (small and medium scale enterprise (SMES).

Many people want to be employed or start doing something that will earn him a living just to improve the level of their economic development, so there should be an adequate provision for the people who are interested in establishing a small and medium scale enterprise (SMES).

Despite the fact that small and medium scale enterprise (SMES) has contributed so much to the development of the advance countries, it is very unfortunate to note that the government has not given the necessary attention it deserves.

1.2     Statement of the Problem

The impact of small and medium scale enterprises (SMSE) cannot be over emphasized; however, its continuing growth in the economy of any state depends to a large extent on the startup. In view of this, Kogi economy had caused the following unsatisfied situation to the nation e.g. large range of unemployment, total dependence on import goods, high level of monopoly, and balance of payment problem.

All the above problems and more are faced by Kogi state economy which the researcher is going to analyze with special focus on Idah local government.

• Objectives of the Study

         The objectives of this research work are:

Determine whether there is significant relationship between the development of small and medium scale enterprises and poverty reduction in Idah local government.

1. Establish whether the provision of adequate infrastructural facilities does enhance the development of small and medium scale enterprises in Idah Local government.

1.4     Research Questions

1. Is there significant relationship between the development of small and medium scale enterprise (SMEs) and with poverty reduction in Idah L.G.A?
2. Does provision of adequate infrastructural facilities enhance the development of small and medium scale enterprises?

1.5     Significance of the Study

The out-come of this research work will assist policy makers, government agencies that are directly in charge of the economic development in Idah L.G.A and Kogi state at large.

This project will encourage the idea of entrepreneurship, which can easily reduce the problem of unemployment in the state.

The research work will be a reliable source of information to student of business administration, public administration and other related field of study who will like to study the problems and also the impact played by small and medium scale enterprises (SMEs) on economic development of Kogi state.

This study will be a great help and advantage to people who will like to setup their own business and be self-employed to reduce poverty and improve their living standard.

1.6     Scope of the Study

         The research work covers the period between 2013 to 2018, the scope of this study focus on the effects of small and medium scale enterprise (SMES) on poverty reduction. The study will cover the meaning of small and medium, enterprise (SMEs) and approaches to economic development on national development. Also, the method used in collection of relevant data will only be through the use of questionnaires and interview, this is being carried out to ensure that accurate facts are obtained from the selected small and medium scale enterprise (SMES) in Kogi state with Idah L.G.A as a reference point.

1.7     Limitation and Constraints of the Study

         In the course of this study, the researcher encountered some problems. These constraints are:

1. Inaccessibility to vital records/information: the researcher lacks access to some vital records of the organization and adequate research tools like journals encyclopedia, newspaper etc.
2. Time: the major limitation during the course of this research work was time constraints, because of time factor, the researcher could not go far to cover enough ground.

iii.     Inadequate information: inadequate information contributed to the inability of the researcher to cover a wider scope.

1. Finance: finance restricts this research work because the researcher has no sufficient funds to visit all the customers across the state capital, Lokoja.

1.8     Definition of Key Terms

         There are some concept in this research work, which are central and embraced in the study, meanwhile attention will be focus used on the following area:-

1. Small and medium scale enterprise: this can be defined as a small or relatively small business as the name imply which process small or relatively number of employee and it is asset base which is indecently owned and operated by group of people or one person.
2. Business: a business is seen as an organization that attempts to earn profit by proving goals and services that the costly need.

• Effect: This function that is being performed by a person or the result that is being derived from an action. It means that the impression one has with positives or negatives e.g. the effects of dependent variable on the independent variables.

1. Reduction: this is the process of erasing or improving on the low standard of living and some anti-social behaviors. It is a way of reducing poverty in the society.
2. Enterprise: this is a place where people come together to produce goods and services it is an establishment that is meant improve the economy.

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Full Project – The impact of small and medium scale enterprises on poverty reduction