CHAPTER ONE

INTRODUCTION

BACKGROUND OF THE STUDY

A small scale enterprise is a business that is not large, in terms of its size, scope of

operation, financial involvement and the workforce involved. Most small scale

enterprises are owned by one entrepreneur. Sometimes a small scale enterprise is said

to be a firm that is independently owned and operated and which is not dominant in

its field of operation. In general, we should recognize that a small scale business must

have few employees, limited capital investment and small scale operation (Nicholas,

1997).

As far as the development of the rural and urban areas in Nigeria is concerned, the

role of small scale enterprises cannot be under-estimated. The present administration

realizes the importance of these small scale ventures hence the various policies being

put in place to encourage their growth. The small scale businesses have the

potentiality to reduce the rate of unemployment in Nigeria and thus to contribute to

the Gross Domestic Product (GDP) and economic growth of the nation (Oshagbemi,

1983).

The industrialized nations which have attained technological advancement today owe

their present position to the establishment of small scale industries in the past. The

small scale businesses served as pivot for technological take off and self-reliance. In

the commercial world, there are numerous kinds of business undertakings. This

varies from private enterprises to public corporations. A small scale enterprise is

1
defined as a business which is independent, small in size and often localized. Most

small scale businesses are operated by private individuals or group of individuals

(Onuoha, 1944).

Due to the positive contribution of small scale businesses to the economic

development of the nation, there is the increased need for the government to be

seriously involved in the support and encouragement of the small scale ventures to

enable them realize their full potentials to the benefit of the whole nation.

STATEMENT OF PROBLEM

Small scale enterprises are one of the major means of economic development in

Nigeria, especially in a challenging economy. In the business sector, various methods

are used in the promotion of the nation’s economy.

Hence, this study is set to evaluate the roles small scale enterprises, especially in

Joshua market, Naka Benue State play to the development of the economy. It is also

in a bid to recommending appropriate for its effectiveness.

PURPOSE OF THE STUDY

Since this research is design to examine the important roles small scale enterprises

play in the development of economy in reference to Joshua market, Naka, Benue

State. To achieve this, the following objectives are set out: To examine the extent that

small scale enterprises has led to the development of economy in Joshua market,

Naka.

To assess the importance of small scale enterprises on the lives of Naka business

men and women.

2
 To ascertain the rate which members of Naka town and its environs benefit from

the small scale businesses.

To notice the major needs of Joshua market customers sellers when it comes to petty

trading.

RESEARCH HYPOTHESIS

That small scale business helps to inculcate more business ideas.

The small scale businesses encourage first hand transactions between buyers and

sellers.

That small scale businesses increase the growth of businesses connections between

sellers and buyers.

That small scale businesses increase business returns.

SIGNIFICANCE OF THE STUDY

This research is expected to bridge the inadequacy of business channels between

individual traders and government business bodies.

The research will also help to reveal the level at which small scale businesses can

improve the economic system.

It is believed this research will forester the knowledge of traders and add to the

already existing literature on small scale businesses.

In extension, it will be helpful to government and non-governmental agencies, policy

makers and researchers alike in fighting against poor business funding.

SCOPE OF THE STUDY

3
This research is focused mainly at the role small scale enterprises play in economic

development. With reference to Joshua market in Naka, Benue State.

CHAPTER TWO

LITERATURE REVIEW

THEORETICAL FRAMEWORK

The Nature of Small Scale Enterprise

A small scale enterprise can be defined in many ways. The parameters for the

definition include value of assets, number of employees, sales revenue, size of

capital, and turnover rate. A small scale enterprise is one that is independently owned

and operated, and in which the owner is the sole decision maker and the overall boss

(Onuoha, 1944).

In general, a small scale enterprise is a business in which its owner influences the

entire decision-making process and the business has relatively small market share and

low capital requirement for its operation. A small scale enterprise has also been

described as a small business in which the manager personally performs all the

functions of management. Other authors see small scale enterprise as a manufacturing

establishment employing less than ten (10) workers and having capital base not

exceeding N2 Million Naira. The American small business Act of 1953 also

advanced its own definition. The act defined a small scale enterprise as a business

which is independently owned and operated and is not dominant in its field of

operation.
4
Characteristics of Small Scale Enterprises

A major characteristic of small-scale enterprises in Nigeria relates to ownership

structure which largely revolves around a key man or a family. Hence, a

preponderance of the small-scale enterprises is either sole proprietorships or

partnerships. Even where the registration status takes the shape of limited liability

Company, the true ownership structure is that of a one-man or partnership business.

(1) Personal savings of the owner forms the start-up capital of the business.

(2) Low Initial capital requirement.

(3) Simple technology.

(4) Low level of managerial skills.

(5) Difficulty in accessing external funds for establishing and running the business.

(6) Keeping little or no accounting records of the business.

(7) Reluctance in risk taking by the owner to expand the business.

(8) Low level of education and technical expertise on the part of the business owner.

(9) Little influence on the market and small market share.

10. Small scale enterprises general have high mortality rate.

11. Concentration of management on the key man.

12. Limited access to long term funds.

13. High cost of funds as a result of high interest rates and bank charges.

14. Over-dependence on imported raw materials and spare parts

15. Poor inter and intra-sectoral linkages; hence they hardly enjoy the advantages of
3
economies of scale.
5
16. Poor managerial skills due to their inability to pay for skilled labour.

17. Poor product quality output

18. Absence of research and development effort

19. Little or no training and development for their employees

20. Low entrepreneurial skills, inadequate educational or technical backgroun

21. Lack of adequate financial record-keeping

22. Poor management of financial resources and inability to distinguish between

personal and business finance.

23. High production costs due to inadequate infrastructure and wastages.

24. Use of rather outdated and inefficient technology especially as it relates to

processing, preservation and storage.

25. Lack of access to international market

26. Lack of succession plan

27. Poor access to vital information.

Government Intervention in Small-Scale Enterprises.

In every economy be it the developed or developing nation, small-scale enterprises

are seen as the instrument of economic growth and national development. Data from

the Federal Office of Statistics in Nigeria confirmed that about 97% of the entire

enterprises in the country are small-scale enterprises and they employ an average of

50% of the working population as well as contributing about 50% of the country’s

industrial output Ariyo (1999) and Ihua (2009) averred that the small-scale

6
enterprises in Nigeria are not only catalysts of economic growth and national

development but are also the bedrock of the nation.

Although small-scale enterprises had existed since the period of independence in

Nigeria, conscious attention on small and medium scale enterprises as the instrument

of economic growth and national development started in 1970-79 when Nigeria

adopted the policy of indigenization through its national development plan

programme. The development plan articulated the need for the Nigerian economy to

be self reliant through industrialization, entrepreneurial development employment

generation and development through increasing export trade.

The Federal government singled out the small-scale enterprises as the key area of

intervention. This was premised on the government desire to support small-scale

industries in the country as a way of meeting up with its commitment to the

development plan and the indigenization policy.

The intention was that it would be a reaction against the dominance of the economy

by the international capitalist entrepreneur and on the account that revitalizing small

and medium scale enterprise would enhance the capacity of the indigenous capitalist

class, as a potential player in economic growth and national development

Some Common Types of Small Scale Enterprises are;

1. Cassava Processing Business

2. Soap and Pomade Production

3. Plastic manufacturing business

4. Nail Production
7
5. Bakery and Allied Products

6. Cloth Weaving

7. Block Moulding and Clay Brick Making

8. Leather and Animal Skin Processing.

9. Hair-dressing and barbing Saloon

10. Tailoring Services

11. Welding work

Challenges of Small Scale Enterprises in Nigeria.

Small scale enterprises in Nigeria have numerous challenges. Some of the more

common ones are discussed below:

(a) Financial Challenge

One of the basic problems of small scale enterprises is financing for business

operation. Almost always, the only source of fund for the entrepreneur is his own

personal savings and, sometimes, little borrowing from friends and relatives. The

business cannot easily attract loan from the bank because the entrepreneur cannot

provide the collateral security the bank requires before lending out money.

(b) Managerial Challenge

This challenge arises from the fact that most small scale enterprises are owned and

run by individuals that do not possess high level of education and managerial skills.

Therefore, lack of prudent management skills is one of the major problems facing the

small scale enterprises in Nigeria.

(c) Production Challenge

8
Production starts from the raw material which constitutes the basic input into the

production process. Most small scale enterprises do not have the required raw

material input to further their production activities. The reason for this is because

they lack the funds for raw material acquisition. Furthermore, they cannot compete

with the large firms in quest for raw material input. The local entrepreneurs cannot

afford to acquire specialized machinery and equipment required for quality

production. Another major problem is that the small scale entrepreneurs cannot avail

themselves of skilled technicians because they will be unable to pay the prevailing

wages and salaries to retain the services of qualified technicians.

(d) Personnel Challenge

Personnel issue tends to revolve around the selection, training and development of

the workforce. With respect to recruitment and selection of prospective applicants for

a job, most entrepreneurs do not pass through objective selection process. It is a

common phenomenon to see entrepreneurs recruiting relatives and friends who do

not possess the right skills and savvy required by the business. It is a dangerous thing

to recruit people without the skills needed for production. Those people will simply

remain in the organization earning money and contributing nothing to actual

productivity.

(e) Marketing challenge

Because the entrepreneur has no adequate capital back up, he cannot undertake

proper marketing research for his product. He will find it difficult to identify his

channel of distribution, and he will not have adequate funds to compensate the sales
9
personnel and pay for other marketing services. Making sales requires advertising

and sales promotion, the entrepreneur is, most of the time, unwilling and reluctant to

spend money on advertising and sales promotion activities.

(f) Record-Keeping challenge

It has been observed that improper record-keeping and good accounting procedures

contribute, in no small way, to the growth and success of business enterprises. The

use of accounting documents such as, stock cards, vouchers, cash book, invoices, etc.

are essential to the smooth running of a business. However, most of the small scale

enterprises do not keep records of their transactions.

(g) Challenge Resulting from Poor Organization of Work

Work arrangement in the small scale enterprises is often very poor. Responsibilities

are usually given to people as the need arises while the administration is extremely

centralized around the owner of the business. The extensive centralization in

management makes control and direction to become limited to the amount of time

and capabilities of the manager to cover all functional areas of management. The

manager hereby finds it difficult to appreciate the need of organization expansion to

meet the increasing demand for delegation, and therefore breed a situation where the

growth of the business can no longer be met successfully by one-man management.

The inability of the manager to appreciate the need for organizational expansion may

bring about weak organization.

(h) Challenge from Inadequate Provision of Tools and Raw Materials

10
Production tools such as machinery and equipment used in the production of goods

and services are inadequate and this is due to the limited resources available. Some

entrepreneurs find it difficult to maintain a constant source of supply for the purchase

of tools and raw materials. Other challenges include lack of adequate information for

planning, decision-making and forecasting the future of the business. Also political

instability which makes economic policies unstable, underdevelopment of

infrastructure and inadequate supply of industrial manpower hamper the growth and

development of the small scale enterprises.

Contributions of Small Scale Enterprises to Economic Growth.

Financing for Business Operation. Almost always, the only source of fund for the

entrepreneur is his own personal savings and, sometimes, little borrowing from

friends and relatives. The business cannot easily attract loan from the bank because

the entrepreneur cannot provide the collateral security the bank requires before

lending out money.

(b) Managerial Challenge

This challenge arises from the fact that most small scale enterprises are owned and
6
run by individuals that do not possess high level of education and managerial skills.

Therefore, lack of prudent management skills is one of the major problems facing the

small scale enterprises in Nigeria.

(c) Production Challenge

Production starts from the raw material which constitutes the basic input into the

production process. Most small scale enterprises do not have the required raw
11
material input to further their production activities. The reason for this is because

they lack the funds for raw material acquisition. Furthermore, they cannot compete

with the large firms in quest for raw material input. The local entrepreneurs cannot

afford to acquire specialized machinery and equipment required for quality

production. Another major problem is that the small scale entrepreneurs cannot avail

themselves of skilled technicians because they will be unable to pay the prevailing

wages and salaries to retain the services of qualified technicians.

(d) Personnel Challenge

Personnel issue tends to revolve around the selection, training and development of

the workforce. With respect to recruitment and selection of prospective applicants for

a job, most entrepreneurs do not pass through objective selection process. It is a

common phenomenon to see entrepreneurs recruiting relatives and friends who do

not possess the right skills and savvy required by the business. It is a dangerous thing

to recruit people without the skills needed for production. Those people will simply

remain in the organization earning money and contributing nothing to actual

productivity.

(e) Marketing challenge

Because the entrepreneur has no adequate capital back up, he cannot undertake

proper marketing research for his product. He will find it difficult to identify his

channel of distribution, and he will not have adequate funds to compensate the sales

personnel and pay for other marketing services. Making sales requires advertising

12
and sales promotion, the entrepreneur is, most of the time, unwilling and reluctant to

spend money on advertising and sales promotion activities.

(f) Record-Keeping challenge

It has been observed that improper record-keeping and good accounting procedures

contribute, in no small way, to the growth and success of business enterprises. The

use of accounting documents such as, stock cards, vouchers, cash book, invoices, etc.

are essential to the smooth running of a business. However, most of the small scale

enterprises do not keep records of their transactions.

(g) Challenge Resulting from Poor Organization of Work

Work arrangement in the small scale enterprises is often very poor. Responsibilities

are usually given to people as the need arises while the administration is extremely

centralized around the owner of the business. The extensive centralization in

management makes control and direction to become limited to the amount of time

and capabilities of the manager to cover all functional areas of management. The

manager hereby finds it difficult to appreciate the need of organization expansion to

meet the increasing demand for delegation, and therefore breed a situation where the

growth of the business can no longer be met successfully by one-man management.

The inability of the manager to appreciate the need for organizational expansion may

bring about weak organization.

(h) Challenge from Inadequate Provision of Tools and Raw Materials

Production tools such as machinery and equipment used in the production of goods

and services are inadequate and this is due to the limited resources available. Some
13
entrepreneurs find it difficult to maintain a constant source of supply for the purchase

of tools and raw materials.

Other challenges include lack of adequate information for planning, decision-making

and forecasting the future of the business. Also political instability which makes

economic policies unstable, underdevelopment of infrastructure and inadequate

supply of industrial manpower hamper the growth and development of the small scale

enterprises.

Sources for Funds in Running Small Scale Enterprises

1. Private Sources

When we think of private sources of fund, there are three possibilities; personal

savings of the entrepreneur, borrowing from friends and relatives and borrowing from

private investment companies. They can provide funds in form of loans and equity

capital. Savings of the small businessman is the first plan that is used as a source of

funds. Such a procedure does not only allow the owner to earn a return on his funds

but also allows the small business to deduct the cost of these funds (i.e. the interest

paid) as a business expenses.

2. Funds from Private Investment Companies

This is a situation where a group of individuals establish a company to lend money or

invest in other businesses. The advantage of an investment company over a private

money lender is that the investment company was established for private loan and

takes the risk involved. The big task is to locate such a source and to establish a

sufficient need to obtain funds.

14
There are also Loan Companies which are solely in operation to lend funds to

businesses both large and small funds.

They fall into two broad categories; those which finance equipment purchases and

those which lend on accounts receivable.

3. Commercial Banks

Commercial banks are, by far, the most common source of borrowing for small

business operation. Banks are in business to provide funds both long and short-term

funds to business people to promote operations.

4. Trade Credit

Trade credit is the source, which, in all likelihood, will provide the greatest amount
8
of funds to the small business. The advantage of obtaining funding from this source is

that, in all intents and purposes, they are free. These are funds lent to small

businesses for a short period since good are purchased but not paid for until sometime

in the future.

5. Government Lending Programme

The Federal Government of Nigeria, since the structural Adjustment (SAP) period

has made concerted efforts to establish sources of funds for small businesses in the

country. The most popular lending institutions have been the Peoples Bank and the

Community Banks. Prior to these two are the various agencies such as the NDE,

which helps to obtain funds from commercial banks and the NERFUND. Imbalance

15
in the distribution of industries between the rural and urban areas and thus check the

rural-urban migration which is heightening social tension in the big cities.

CHAPTER THREE

RESEARCH METHODOLOGY

INTRODUCTION

This chapter discusses the methodology adopted in this research under the following

sub-headings; research designs, area of study, population of study, sample and

sampling techniques, instrument for data collection, validation of research

instrument, method of data collection, and method of data analysis.

RESEARCH DESIGN

The researcher uses descriptive research design because the researcher did not

manipulate any variable during the investigation.

AREA OF THE STUDY

The area of this research is Joshua market, along Makurdi road, Naka, Gwer West

Local Government Area, Benue State.

POPULATION OF THE STUDY

16
The population of this study consists of fifteen small scale enterprises in Joshua

market, Naka. Seven hair dressers enterprises, three groundnut sellers, three iron and

metal welder enterprises, two dress sellers form the population of the research.

SAMPLE AND SAMPLING TECHNIQUES

The sample population of this project covers seven hair dressers enterprises, three

groundnut sellers, three iron and metal welder enterprises, two dress sellers form the

population of the research in Joshua market Naka.

INSTRUMENT FOR DATA COLLECTION

The source of data used by the researcher include questionnaires first hand interview

with traders and customers of Joshua market, Naka.

VALIDATION OF RESEARCH INSTRUMENT

The instruments used are subjected to checks for validation. The researcher submits

the instrument to the project supervisor for thorough class check.

METHOD OF DATA COLLECTION

Questionnaires, first hand interview with traders and customers of Joshua market,

Naka

METHOD OF DATA ANALYSIS

The system of analyzing the data collected from the field is on the use of simple

counting and percentages.

This is done by deciding the number of responses by the total number of respondents.

This can be expressed mathematically bellow:

17
A/x/100/1

Where;

A= number of responses

X= total number of respondents

100= a constant.

CHAPTER FOUR

DATA PRESENTATION, DATA ANALYSIS AND DISCUSSION OF

FINDINGS

INTRODUCTION

This chapter consists of data presentation, data analysis and discussion of findings.

The data is tabulated and each hypothesis tested base on the questionnaires

distributed, filled and collected.

DATA PRESENTSTION AND ANALYSIS

Table 4.2.1 How did small scale enterprises help small-scale traders in their

formal transactions in Joshua market, Naka?

Options No. of respondents Percentage

18
 Poor 3 1.5%

Fair 7 3.5%

Good 90 45%

Excellent 100 50%

Total 200 100%

The table above shows that 1.5%responded that small scale enterprises poorly

helped traders with their formal transactions in Joshua market, Naka. 3.5%

indicated that small scale enterprises fairly helped traders’ formal transactions in

Joshua market, Naka. 45% shows good while 50% of the responses shows small

scale business excellently helped traders with transactions in the market. From the

responses gathered, it is Clare that small scale business had excellently helped the

traders with their formal transactions in Joshua market, Naka.

Table 4.2.2At what extent does small scale business enhances traders’ and

customers’ business vocabulary development in Joshua market, Naka?

Options No. of responses Percentage

Low 1 0.5%
19
Average 25 12.5%

High 75 37.5%

Very high 99 49.5%

Total 200 100%

The data above shows that 49.5 of responses believed that small scale

enterprises enhance traders’ and customers’ business vocabulary development

in Joshua market, Naka. 37.5% responded that small scale businesses highly

enhance traders’ and customers’ business vocabulary development in Joshua

market. While 12.5% shows average level of vocabulary enhancements, 0.5%

shows low enhancement of vocabulary development thorough small scale

business in Joshua market, market.

The data collected indicated that small scale enterprises enhance traders’ and

customers’ vocabulary development very high in Joshua market, Naka.

Table 4.2.3 Did the knowledge of small scale businesses increase business

returns in Joshua market, Naka?

20
Options No. Of responses Percentage

Don't know 55 27.5%

No 50 25%

Yes 95 47.5%

Total 200 100%

From the table above, 27.5% of the responses show no knowledge of small

scale business in business returns in Joshua market, Naka. 25% responses

indicated that small scale business did not increase business returns in the

market while 47.5% of the responses said yes to the question.

Since 47.5%said yes, small scale businesses did increase business returns in

Joshua market, Naka.

Table 4.2.4 Effective communication had helped small-scale business traders

to achieving their organizational goals in Joshua market, Naka. Do you agree?

Options No. of responses Percentage

21
 Strongly Disagree 15 7.5%

Weakly Disagree 15 7.5%

Weakly Agree 75 37.5%

Strongly Agree 95 47.5%

Total 200 100%

The data showed that7.5% strongly disagree and the same percentage of

respondents weakly disagree that effective communication had helped traders to

achieving their organizational goals in Joshua market, Naka. On the other hand,

37.respondents weakly agreed while 47.5 respondents strongly agreed that

effective communication had helped small-scale traders to achieving their goals in

the market.

From the data collected, it is noticeable in Joshua market that effective

communication had helped small-scale traders in archiving the goals of their

businesses since 47.5% respondents which is the highest score strongly agreed.
22
Table 4.2.5To what extent that relationships between traders and customers were

been enhanced through small scale business?

Options No. of respondents Percentage

Don't Know 37 18.5%

Low 13 6.5%

Average 65 32.5%

High 85 42.5%

Total 200 100%

From the table above, 18.5% respondents do not have knowledge of the extent

that relationships between traders and customers could be enhanced through

small scale business. 6.5% said the enhancement is low. While 32.5%

respondents argued on the average level, 42.5% respondents believed that the

23
 extent of the relationships between traders and customers were highly

enhanced by small scale enterprises.

Since 42.5%respondents, and been the highest Percentage of respondents,

it is understood that the extent of the relationships that exist between traders

and customers were high.

Table 4.2.6 Did small-scale business grow to large-scale businesses through

effective communications in Joshua market, Naka?

Options No. Of responses Percentage

Don't know 73 36.5%

No 80 40%

Yes 47 23.5%

Total 200 100%

From the table above, 36.5% of the respondents did not have knowledge of

small-scale business growing to large-scale business in Joshua market, Naka.

40% respondents answered no to the question while 23.5% respondents

accepted that small-scale business did grow through effective communications

in area of this study.

24
 Since 40% respondents believed that small-scale business did not grow to

large-scale business through effective communications, and been the highest

percentage of the respondents, it now shows that effective communications did

not grow small-scale businesses in Joshua market, Naka.

4.3 DISCUSSION OF FINDINGS

From the data analysis, the researcher found that effective communications

excellently helped the traders with their formal transactions in Joshua market,

Naka.

The study shows that effective communications had enhanced traders’ and

customers’ vocabulary development in the study area.

The researcher had also found that effective communications had greatly

increased the returns in their businesses.

The research also indicated that effective communications had helped small-

scale traders in achieving their goals.

The research further x-rayed that relationships between small-scale

traders and customers were highly through effective communications.

The research negatively said small scale enterprises did not lead to the growth

of small scale businesses in the study area.

25
 In conclusion, the research had discovered that small scale enterprises are

no mean under-looked, especially, in the growth of economy. Proper handling

and encouragement of small scale enterprises is in the heart of achieving great

economic growth.

CHAPTER FIVE

SUMMARY, RECOMMENDATIONS AND CONCLUSIONS

This chapter summarizes the major findings of the study; the role of small scale

enterprises in the development of Nigerian economy. This research focuses on

Joshua market, Naka as its area of study, limitations and suggestions for further

studies.

This research also recommends further solutions to traders in developing Nigerian

economy through small scale enterprises.

5.2SUMMARY

It is observed that the major target of every business firms is money making

through transactions; the development of Nigerian economy. For transactions to

take its shape, the traders and the customers need to acquire a good knowledge of

small scale business.

26
However, since small scale business is at the heart of economic growth, no

business organization especially small-scale can grow without targeted rapport

between the businessman and his customers. The relationships that exist between

the both parties actually did enhance the business’ growth.

CONCLUSION

Small scale enterprises are essential agents of economic growth and national

development. Their activities affect the life of the rural and urban dwellers through

the employment opportunities they provide to the generality of the people of Nigeria.

More importantly, they are able to engage large number of applicants because they

employ both unskilled and semi-skilled individuals. Because people engaged to work

earn money, they can acquire goods and services to better their lives and thus there is

general rise in the standard of living. There is the common saying that “The idle mind

is the Devil’s Workshop”. The presence of the small scale enterprises and the

provision of jobs to unemployed people keep the idle mind busy thinking and doing

the job assigned to the individual. For this reason, there is no room to think evil, like

engaging in armed robbery, taking part in cheating gullible masses and carrying out

419 operations. Thus the society is, a bit, at peace due to the actions and activities of

the small scale enterprises.

5.4 RECOMMENDATIONS

For the purpose of achieving the great economy, small scale enterprises, must not

be left out. The following recommendations should be considered:

27
 Government and non-governmental agencies should give aids through

grants and loans to small scale business owners to boost the nation’s economy.

Periodic evaluation of small scale businesses must be carried out by government

and individuals to enhance their growth rate.

However, awareness campaign and free workshops should be organized for small

scale business owners to encourage more people on small scale enterprises

thereby improving their business motivations.

Business owners should align themselves with financial organizations to

boost their business targets.

The aforementioned recommendations and many more will be significant in

achieving the goals of business organizations; both small and large-scale.

5.5 LIMITATIONS TO THE STUDY

Due to the financial shortages and limited time frame for this research, this study

is limited to only fifty respondents out of numerous numbers of small-scale

businesses and owners in Joshua market, Naka.

5.6 SUGGESTIONS FOR FURTHER STUDIES

For the sake of general understanding of the topic, the researcher suggests

this research to be carried out in other business organizations and in different

areas so as to realize the value of small-scale businesses to the growth of national

economy.

28
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