ROLE OF SMALL SCALE BUSINESS IN INDUSTRIAL TECHNOLOGICAL DEVELOPMENT OF NIGERIA
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ROLE OF SMALL SCALE BUSINESS IN INDUSTRIAL TECHNOLOGICAL DEVELOPMENT OF NIGERIA
Chapter one
1.1 Introduction
Business, as defined by economists, is any human endeavour aimed at profit. The significance of this concept is that any action that is not motivated by profit or malice is not a business.
However, activity in this context can be defined as any enterprising or profit-oriented business, which can vary from buying and selling to small-scale industries in minor agro-allied industries and husbandry agencies, construction works, and craftsmanship, among others.
There was little need for business transactions throughout the mediaeval period because productivity was limited to subsistence levels. However, as society developed and technology advanced, the volume of production expanded, benefiting humans and advancing work.
The forage is simply an overview of the nature of commerce in both subsistence and exchange economies.
Historically, however, observation revealed that up to this point, small-scale enterprise was the largest single form of entrepreneurship operating in society, typically held by a single person or a group of people in partnership. For very some time now, the private individual has had sole dominance in this regard.
However, with the advent of the future government over the last decade, National Economics Policy has placed more attention on the promotion of small-scale businesses, particularly in sectors that have not been adequately explored by private individuals.
This is a very recent phenomena, as are leather training, Meta I manufacturing, and other industries that have been inadequately managed by private business owners.
In fact, there are some limits in the implementation of most of these projects, and the suck problem will be further examined in the following chapters.
1.2 Statement of Problem
These studies also look at the problems they experience while doing their duties in order to make appropriate recommendations to society for potential solutions. There are numerous issues affecting the role of small micro businesses in Nigeria’s industrial and technological growth, making them more competitive to enter.
Some of the issues include:
a. A shortage of qualified management staff
a. Unreasonably high percentage of unqualified staff
b. Lack of appropriate motivation
d. Inadequate delegation of authority and power
b. Inadequate management and staff structure
f. Poor information system.
g. Lack of suitable fiancé
h. Inability to implement decisions made with staff.
i. Irregular and late payment of employee salaries
Undesirable high rate of workforce turnover.
1.3 Objectives and Purposes
The goals of this project are to identify the existence of small-scale businesses in Nigeria’s industrial and technological development, as well as to recognise how small-scale businesses play an important role in the Nigerian economy by providing employment to many who are not suitable for employment in large business concerns but have much to contribute to the improvement of society.
a. Investigate the reasons for a lack of qualified management personnel in the newborn industry.
b. Conduct an investigation into the abnormally high rate of unqualified management and employees.
c. Investigate the inability to observe the concept of an organisation.
d. To examine the causes of inadequate motivation in infant industries.
a. To closely examine the persistence of inadequate delegation of authority and power.
b. Determine the reason for the inadequate management and staff meeting.
g. To investigate the weak information systems on actual industries.
b. Examine the inadequacy of finance.
i. Determine the reason of inconsistency in management policies and decisions.
j. To understand management’s inability to carry out the choice taken with the personnel.
k. To determine the causes of irregular and delayed payment of workers’ salary.
i. Evaluate and analyse the sources of the undesirable high turnover rate in infect industries.
1.4 Statement of Research Hypothesis
A hypothesis is defined as a tentative assumption established in order to determine and evaluate its logical and empirical ramifications. It might also be defined as a confessional remark, or a tentative proposition made to explain the circumstances that are producing the situation.
Thus, the following possibilities are proposed:
i. Small-scale industries destroy the talent of competent workers
ii. Small-scale industries are not an effective means of reducing rural-urban mobility and the associated scourge of unemployment.
iii. Small-scale industries do not play a significant role in growth and deployment.
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