5.1
SUMMARY OF FINDINGS.
It
is important to note that many developing countries, for example Nigeria
depends very much on small-scale enterprises for their economic growth, this is
because the industrial sector and government, the world are appreciating the
fact that small business which in totality has been neglected could contribute
substantially to economic growth, employment generation, local and value and
also technological development.
Generally speaking, however, the performances of this
sector have not measure up to expectations. In the last chapter, the data which
was collected from the study, was presented and analyzed with the use of
chi-square.
Chapter four give the chi-square analysis of data,
which establish the relationship between small-scale enterprises, major problem
are source of finance, financing the business and high rates of interest on
loan. But virtue of testing the parameter, we conclude that sources of financing
small-scale enterprises and high rates of interest on loans are major findings
from various review of analysis, it must be noted that findings are not
necessarily in order, which they are made.
In this hypothesis, it was discovered that sources of finance,
financing of the business and high rates of interest on loan are the major
problem of small-scale enterprises in Nigeria in general and in Bida Local
Government Area of Niger state in particular.
5.2
CONCLUSION
Naturally,
for every hundred novice, begging new business ideas; many are giving up some
will liquidate their business; a handful will even go bankrupt. Most will
simply accept it as inevitable. It was recalled but specific hypotheses were
postulated in chapter one, the result from the survey did indicate that source
of finance, financing of the business, and high rates of interest on loan are a
major problem of small-scale enterprises. For these reasons therefore, the
prospective entrepreneurs should make through study of the past, present and future
of his business environment by asking himself some of these important
questions: what business am I really in?, what has motivated me to go into such
business?, what financially and emotionally prepared are my?, what are sources
of my raw materials and of course, how well am I connected in this business?.
It look like an intellectual
exercise in an attempt to answer these questions but at the expense of the
success of any business to analyze and study the past, present and future of
your business environment, either when beginning a new business or already in
existence.
5.3
RECOMMENDATIONS
The advantageous derived from small-scale enterprises
in Nigeria are numerous, this includes increase in private participation in the
economy, increase in the total gross domestic product (GDP), decrease in
importation of manufactured goods. It is necessary that small-scale enterprises
should be financed adequately for it to achieve it desired goals.
This project revealed that the federal government
employed several instruments in order to encourage small-scale enterprises
among are credit guideline, rural banking programmes and industrial
development.
The most vital and prominent constraint to the growth
of enterprises in a developing country like Nigeria is finance. In the view of
this, the researcher is recommending that financing of small-scale enterprises
in Nigeria should be improved. And also recommends the following:
a.
Adequate attention should be given to staff development and training
programmes, for managers and supervisors as this goes a long way in increasing
productivity.
b. Small-scale enterprises should as far as
possible go into partnership so that it will be easier to obtain loans from
banks and also meet the security requirements of lending institutions. In the
long-run it will increase the capital base of the business, which allows for
corporate growth and development.
c.
On the part of government, it should use all possible means to compel
commercial banks and other lending institutions to increase the measures in
which there issue financial assistance to small-scale enterprises by making it
easier for credit worthy ones to enjoy their credit facilities. Also, the
small-scale industries credit scheme should be made meaningful by the
government, this it can do by processing loan application without much delay
and by increasing the funds for business in order to extent loans to a large
numbers of intending borrowers and in view of rising cost due to inflationary
trend in the country.
d.
Government as a matter of necessity should establish a special bank for
small-scale enterprises like the establishment of Nigerian Agricultural loans.
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