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The Impact Of Small Scale Business On Economy Development In Nigeria
[Case Study of Sawo Industry Ilorin]
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1.4 IMPORTANCE OF THE STUDY
The result of the study would be of important to the people of Nigeria and to the intending industrialist because the study would reveal various roles and the benefits of small scale business.
The study will also be of importance to resourceful individual or group of people who may be interested in the establishment of small scale business in future. This study would provide information on the role and important of small scale business within the country and as a result, will stimulate and encourage the industrious individual to invest their resources for national growth and development.
1.5 SCOPE OF THE STUDY
The result of the study would be of important to the Nigeria citizen in general because the study will reveal in details the various roles, benefits, advantage as well as amount of capital that one can start scale business with. The research considered small scale industries which are randomly selected. Those to consider for selection must have been in existence for at least five years. This as a result enables the researcher to get the true picture of the problem of the study and not a problem caused as a result of the infancy of industries.
1.6 DEFINITION OF TERMS.
This section attempts to define variable and terms used in the study.
a. CAPITAL: The money and all man made aids further production process i.e machine, factory tools, material etc.
b. ROLE: This means the part taken by small scale business to contribute to the growth and development of the country .
c. INFANT INDUSTRIES: domestic industries that needs protection from foreign competition.
d. INDIGENOUS: native industries in a country usually referred to as infant industries.
e. TAXATION: the imposing of tax. Is money that must be paid to the government, charge as a proportion of personal income and business profit or added to the cost of some goods and service
f. Loans: A sum of money that is lent to a business owner by the government.
g. CREDIT SCHEME: plan and design by government to provide short and long term loans to industries.
h. PRIMITIVE: The earliest time in history or stages in development.
i. INDUSTRIALIZATION: Develop industries in a country or region on a wide scale.
j. INFRASTRUCTURAL: The basic facilities in which the commerce of a country depends on e.g. good roads, communication system, pipe borne water etc.
k. Investment: the purchase of real or tangible asset such as machines factories stocks of investment that are used to produce goods and service.
l. Foreign: having to do with a country or language other than ones own.
m. Turnover: the amount of business done in a particular period with a certain amount of capital.
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