|
|
| |
| Incorporating Entrepreneurial Small and Medium Scale Enterprises Industrial Programs of the Informal Sector into the Development Process in Nigeria: Prospects and Challenges |
S.O. Onimolemni, Oluwadare Ojo and Tolulope Obaseki
|
Abstract:
: The study examined the prospects and challenges of incorporating Entrepreneurial Small/MediumScale Enterprises Industrial programmes into the development process in Nigeria and considered strategies, factors necessary and required for growth and development.The study observed that Entrepreneurship Development of Small and Medium Enterprises are increasingly being recognized and identified as having very crucial role to play in strategies for economic and social development by many nations. The research design adopted for this study was survey and documentary analysis.The survey research involves collection of data from existing records and findings of the opinion on the subject through the use of structured questionnaire to employers of labour, entrepreneurs, government officials and SMEs operators in Lagos and Oyo states in Nigeria. Stratified sampling technique was used to select a total of 500 respondents out of which 483 responded to the questionnaire for the study. The instrument was validated and plot-tested to ascertain the internal consistency of the questionnaire using Cronbach Alpha. The reliability coefficient of the questionnaire was 0.76. Data obtained were analyzed using mean, frequency count, percentage and one-way analysis of variance. A large proportion of the respondents contended that development of Entrepreneurship and Small /Medium enterprises have been constrained by factors such as: High mortality rate, job losses as a result of mortality in both large and small businesses are off-set by job creation as a result of the birth of new businesses and the expansion of existing SMEs;unavailability of raw materials, production technical problems, which include: lack of technically skilled workers, unfamiliarity with new techniques, poor organization of production, inefficient plant layout, absence of quality control and irregularity of control supply of spare parts of machinery and equipment and lack of -after- sales service and others. Respondents also submitted that the sector if properly managed and incorporated into the development process, the gains of the nation through the sector in terms of employment generation, skills and entrepreneurship development, price stabilization, poverty alleviation and development of indigenous technology are prospects in the nation's march towards development.
|
|
|
| | |