THE PROBLEMS OF FINANCING SMALL SCALE BUSINESS IN NIGERIA ( CASE STUDY OF GARRI PROCESSING INDUSTRY IN ABAKPA NIKE ENUGU)

ABSTRACT Since independent Nigeria the giant of Africa has spent much time and resources both human and material trying to convince the developed countries and indeed the whole word that she (Nigeria) is capable of developing her industrial capabilities. Much of the efforts made in this direction have found expressions mostly in international conference and seminars, newspapers report, radio announcements and various national development plans. Industries have actually increase since after the independent, but the disappointing record of economic performance in the last decade has led to the reopening of the debate on the strategy of industrialization  Nigeria is still a net import of all sorts of goods from needless to heavy machinery, simple because most of the industries where established for their immediate lucrative such as been soft drink and other consumers goods industries without the consideration to nation’s industrial needs or for the utilization of local materials. Besides most of the large scale industries before the industrialization decree were foreign owned and were associated with significant possibilities of income leakages. This in spite of the rapid increase in the gross national productivities (GNP) in last decade, the poorest segment of the population peculiarity those in the rural areas has received relatively little benefit. Unfortunately the bulk of Nigeria business are small-scale industries of the number of business establishments, they account for about 80% or above of the total number of enterprise in the country. The important role they play in the development process was observed by the first progress report of the second National Development plan “in spite of the anticipated rapid growth of the wage sector, the major solution to the nations unemployment problem will have to be found in other areas like agriculture and small scale industries development.” In spite of all these, the small scale industries sub-sector has continued to suffer from lack of credit most all the governments financial programmes for the small industrial credit scheme, fund for small scale industries has remained largely inadequate and of little effect. The banks and other financial houses cannot help matters either despite the central bank credit scheme to industries. It would be noted in the regard that majority of the small scale industries would not be able to meet the requirement of the bank and other financial institution lending policies. Therefore given these financial constraints.
TABLE OF CONTENTS
Title pageii Approval pageiii Dedication iii Acknowledgement iv Abstractvi Table of contentsix
1.0 CHAPTER ONE: INTRODUCTION 1.1 Background of the study1 1.2 Statement of the problem3 1.3 Objective of the study4 1.4 Research question5 1.5 Research Hypothesis5 1.6 Significance of the study6 1.7 Scope of the study6

1.8 Limitation of the study7 1.9 Definition of terms7 Reference9
CHAPTER TWO:  REVIEW OF RELATED LITERATURE: 2.0 Theoretical and empirical10 2.1.0 Theoretical review of related literature 10 2.1.1 Small scale business defined 16 2.1.2Management and organization of  small scale industries/businesses19 2.1.3 Sources of fund to small scale industries/businesses24 2.1.4 Problems of small scale industry/business26 2.2      Empirical Review of Related Literature 29 REFERENCE  32
3.0 CHAPTER THREE: RESEARCH DESIGN  AND METHODOLGY 3.1 Research Design33 3.2 Area of the study33 3.3 Population of the study33 3.4 Sample and sampling Techniques 34 3.5 Instruments for Data collection35 3.6 Method of Data collection35 3.7 Method of Data Analysis 36 3.8 Method of investigation36       References37
4.0 CHAPTER FOUR: DATA PRESENTATION  AND DATA ANALYSIS 4.1 Data presentation and Analysis of results38 4.2 Test of hypothesis38 4.3 Summary of result52 Reference54
5.0 CHAPTER FIVE: FINDINGS, CONCLUSION  AND RECOMMENDATION 5.1 Findings55 5.2 Conclusions57 5.3 Recommendation59 5.4Suggestion for further research63 Bibliography64 Appendix65 Questionnaire66