Problems and Prospects of Small and Medium Enterprises in Nigeria

Filed in Articles by on November 9, 2022

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The major purpose of this study is to determine factors influencing small and medium enterprises in Nigeria.

To determines the extent finance house stick condition have affected the development of small and medium enterprise in Nigeria and also assess the extent poor financing has affected small and medium business operations.

This study will help small and medium enterprise to assess and appraise their role in solving the problems of unemployment in Nigeria.

It will guide the compliance with government monetary policy. It will also equally server as a guideline to researchers who may wish to decide with this study in the future. The following findings were made is the course of analyzing the data.

There has been a phenomenal growth in the number of small and medium ventures for past few years. The nature and dimension of small and medium enterprise in Nnewi North made profit of about N5000 daily.

The following recommendations are made in the belief that they will promote and stabilize small and medium enterprise of implemented. To overcome the problem of financial constraints, the government should re-introduce the small business credit scheme to that beneficiaries can use them to run the small and medium enterprise.


Title      i

Approval               ii

Dedication   iii

Acknowledgement          iv

Table of contents    vi

Abstract      x


1.1          Background of the study        1

1.2          Statement of the problem         3

1.3          Purpose of the study      5

1.4          Significance of the study           6

1.5          Research Question  7

1.6          Scope of the study     9

1.7          Definition of the terms   9

CAPTER TWO Literature Review

Summary of Literature Review


  • Design of                                                                        36
  • Area of the study                 36
  • Population of the study 37
  • Sample of the study 37
  • Instrument for Data collection                                 37
  • Validation of the instrument 38
  • Distribution and Retrieval of instrument 38
  • Method of Data Analysis 38

CHAPTER FOUR Data Presentation and Analysis


  • Summary of the findings 57
  • Conclusion                 58
  • Recommendations                 59
  • Limitations of the study                                61
  • Suggestion for further studies                                 62

References             63

Appendices          65


In recent years, particularly since the adoption of the economic laicism programmer in Nigeria in 1986, there has been a decisive switch emphasis from the grandiose, capital intensive, large scale industries project based on the philosophy of import substitution to small scale industries with immense potentials for developing domestic linkages for rapid – sustainable industrial development.

Apart from their potential for ensuring a self-reliant industrialization, in terms of ability to rely largely on local raw materials small scale enterprises are also in a better position to boost employ raw materials.

Small and medium enterprises are also in a better position to boost employment, guarantee a more even distribution of industrial development in the country industry the rural areas and facilitate the growth of non-oil exports.

Consequently, both the federal and state government and recently local government have stepped up efforts to promote the development of small scale enterprises through increased incentive scheme including enhanced budgetary allocations for technical assistance programed New lending schemes.


Beckman, J. (1983) Entrepreneurship and the outlook of American, New York: Free press.

Fasua, K. (2006) Entrepreneurship theory strategies and practice, Jos: Larigahic Printers.

Hanis, C. (1991) Managing Small and Medium Business, London: Pitman Publisher.

Kotler, P. (1985) Marketing Management: Analysis Planning Implementation and Control, London: McDonald and Evans Publisher.

Olise, M. (2006) The nature of Small and Medium Business in Mimeograph, Owerri: Bon Publisher.

Osuagwu, L. (2001) Small Business and Entrepreneurship Management, Lagos: Grey Resources Limited.

Owualah, S.I. (1999) Entrepreneurship in Small Business Firms, Lagos: Derate Limited.

Siropolis, N.C. (1997) Small Business Management, U.S.A: Houghton Mifflin Company.

Savas, E.S (2000) Privatization and Public Private Partnerships, New York: Seven Bridges Publisher.

Umebali, E.E. (2009) Management of Small and Medium Enterprise in Nigeria, Anambra: Awka Edge Pulisher.

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