1.1 BACKGROUND OF THE STUDY
Development of firms has been a matter of great concern and priority to many nations of the world. It could be understood from economic history that many advanced countries of the world which has attained the height of industrialization started as a more small and medium scale enterprises which later metamorphosed into giant cooperation. In the past, industrial development process were slow and painful and the advancement in technology in developed countries resulted from the survival of the cottage firms which were nurtured, pampered and breastfed to grow up as big industrial corporations today.
Since the early, 1990’s a number of initiatives have come to dominate the economic growth agenda of many donors and public agencies. These initiatives arose as a response to, or an interpretation of, the increasing effects of market globalization on the economies of developing countries. Analyses that only looked at domestic markets were no longer adequate to understanding the dynamics that affected the incomes and livelihoods of poor households almost anywhere in the world. With the increase in globalization, resource-driven comparative advent-age diminished in importance, while competitive advantage, created by private and public stakeholders, rises. And with its rise, the importance of theories that could help us understand and manipulate the dynamics affecting economic growth including competitiveness, value chain analysis, and economic cluster theory.
As a result of increased globalization and a shift in jobs from developed to developing economies ethical issues emerged. These were largely in response to labour and environmental concerns.
Since then, competitiveness initiatives, value chain analysis, and cluster development approach have proved to be quite effective at increasing micro, small and medium enterprises productivity and competitiveness into global markets, as well as national and local markets.
Developing countries as a whole have now realized that they lag much behind than the developed nations of the world, not only in industrial base but also in national standard of living. As a result, these countries now seem to have hastened up the pace of their industrial development process in other to increase their living standard and thus reduce the present rate of unemployment, (Klatt 1973).
Nigerian’s desire to concentrate on developing the small and medium scale enterprises (SME) have always been buttressed by and reflected in a wide range of economic policies. In-fact, the present consciousness on the part of the every segment of the society including the government for small and medium scale industrial growth cannot be under emphasized and the delay in appreciating this sector as an economic catalyst is frustrating. (Ani B.N. and Nwandu E.C. 2001).
Yearly, government initiate policies that will not only help the development of small scale firms but also bring legislations for small and medium scale firms protection. Most government economic policies on imported goods have been targeted at discouraging such importation and protect the establishment, existence and survival of cottage firms. The essence of the protection is not to allow it face the competition posed by foreign goods in the market.
It is true that we are operating in a system where savings and investment are quite low; this is as a result of low capital base, mass unemployment and low per capital income. But government has not relented on its effort to ensure the success of small and medium scale firms. Tax holidays and tax concessions are many at times being offered by government to small and medium scale firms to enable them survive. Grants and loan facilities are another key ways of assisting small and medium scale (SME) industries so that funds needed for current operations and investments may not be an impediment.
If critically viewed, more efforts of government were geared towards the establishment of industries which would provide employment to the teaming populations, provide earnings to the country through export profiles, enhance standard of living of the citizenry and in turn results to provisions of infrastructural facilities.
It is equally of important to note at this juncture that small and medium scale enterprises means different thing to different people, group, society and government hence.
| Project details | Contents |
|---|---|
| Number of Pages | 122 pages |
| Chapter one | Introduction |
| Chapter two | Literature review |
| Chapter three | methodology |
| Chapter four | Data analysis |
| Chapter five | Summary,discussion & recommendations |
| Reference | Reference |
| Questionnaire | Questionnaire |
| Appendix | Appendix |
| Chapter summary | 1 to 5 chapters |
| Available document | PDF and MS-word format |
DOWNLOAD COMPLETE WORK
All listed topics on our website are available project materials in PDF and MS word files, well supervised and approved by lecturers who are intellectual in their various fields of discipline, documented to assist you with complete, quality and well organized researched work. if you can't find what you're looking for feel free to contact us.
FOLLOW US