The Relevance Of Small And Medium Scale Enterprises To Nigeria's Economic Development: An Investigation

📄 Project Abstract

The economy of any nation is driven by the level of industrialization, while the level of industrialization is determined by a number of other factors. In a developing economy like Nigeria, Small and Medium scale enterprises play a vital role in economic development. Unfortunately , these categories of industries are bedeviled with many problems ranging from lack of infrastructural facilities, low technological know how, lack of technical skills to financing problems. This research is centered on financing small and medium scale enterprises for economic development. It explored the present pattern of financing, the alternative sources of financing SMEs as well as government effort past and present geared towards improving the financial status of such categories of industries. It also examined the problems faced by SMEs in raising the needed capital. The overall objective of the study is to seek for improved or new methods of financing SMEs for improved performance which will in turn le...