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IMPACTS OF
SMALL BUSINESS ON ENTERPRISES ON EMPLOYMENT CREATIONS
ABSTRACT
The focus of
this study is on “Impacts of small business enterprises on employment creation
in Lagos State. Small Business Enterprises are the vocal discuss and objective
of this research is to ascertain the role of SBEs assumed to have played in
terms of employment creation among others.
The survey
research method was employed and questionnaires were used to collect the
necessary data from respondents.
To achieve
these objectives, a 5 point Likert Scale was developed and validated to collect
information from a sample of 50 respondents. Representing employees from the
selected SBEs. the findings from the result obtained showed that small business
enterprises has positive impacts on employment creations in Lagos State and the
availability of infrastructural provision on small business enterprises have
impacts on employment creation in Lagos State.
It was
however recommended that government should encourage small business enterprises
with the provisions of basic requirements, financial supports, enable
environment and stability in the polity so as to minimize unemployment in
Nigeria.
TABLE OF
CONTENT
Title
page
i
Certification
ii
Dedication
iii
Acknowledgement
iv
Abstract
v
Table of
Contents
vi
CHAPTER ONE:
INTRODUCTION
1.0 Background to the Study
1
1.1 Statement of the Problem 5
1.2 Objectives of the Study
6
1.3 Research questions
7
1.4 Research hypotheses 8
1.5 Significance of the Study
8
1.6 Scope and de-limitation of work 9
1.7 Outline of chapters 9
1.8 Definition of terms
11
CHAPTER TWO
LITERATURE
REVIEW
2.0 Introduction
12
2.1 Theoretical definitions of Small Business Enterprises 13
2.2 Characteristics of Small Business Enterprises 14
2.3 Financing of Small Business Enterprises 17
2.4 Relevance of Small Business
Enterprises 20
2.5 The problem facing Small Business
Enterprises 21
2.6 Roles of Small Business Enterprises 24
2.7 Solutions of Small Business
Enterprises 25
2.8 Employment creation output and
production growth 27
2.9 Small Business Enterprises as a tool
for
employment
creations in Lagos State
29
CHAPTER
THREE
RESEARCH
METHODOLOGY
3.0 Introduction
33
3.1 Restatement of research question 33
3.2 Restatement of research hypotheses 34
3.3 Research Design
35
3.4 Population of the study 35
3.5 Target population
36
3.6 Sample and sampling techniques 36
3.7 Data collection
37
3.8 Research instrument
38
3.9 Validity and reliability of the
study 39
3.10 Limitation of the study
38
3.11 Methods of data analysis 39
CHAPTER
FOUR:
DATA
PRESENTATION, ANALYSES AND INTERPRETATION
4.0 Introduction 40
4.1 Analysis of personal data of respondents 40
4.2 Evaluation of research hypothesis 43
4.3 Hypothesis one 47
4.4 Hypothesis two
CHAPTER
FIVE:
DISCUSSION
OF FINDINGS, CONCLUSION AND RECOMMENDATIONS
5.0 Introduction
51
5.1 Discussion of Findings
51
5.2 Conclusion
53
5.3 Recommendations
53
Bibliography
56
Questionnaires
58
CHAPTER ONE
INTRODUCTION
1.0 BACKGROUND OF THE STUDY
Small
business enterprise plays a key role in expanding and diversifying industrial
production and also contributes to such objectives as employment generation,
poverty eradication, improved income distribution and fulfilling basic needs of
most developing countries.
Small
business enterprises was defined by the Central bank of Nigeria in it’s
guideline that it is any business organization with an annual turnover of less
than five hundred thousand naira. (CBN Guide (2002).
Small
business enterprise may be seen as a business which is independently owned and
managed and which does not dominate its relevant market segment of interest
(Griffin and Ebert, 1999) Unemployment is undoubtedly a big challenge to any
government, development planner the private sector and society at large. This is
why it is very important to pay particular attention to the creation of
employment because according to Tomori (1998), the consequence of unemployment
(whether prolonged or short-term), leaves a scar on every individual, family or
country that is faced with the problem.
In the first
instance, the degree of frustration and poverty experienced by the unemployed
person who is willing to work but cannot find a job is considerable. His or her
frustration could be transformed into violence or crime, which in-turn whether
collective or individual can shake up any political system and cause
instability. Second, the loss of income to individuals and households is
equally great; the under-utilization of labour resources create poses a
difficult problem for society in terms of the wastage in manpower resources
which may have probably been expensively trained. Small business enterprises
have been favored as institutions that are capable of providing solutions to
the high level of unemployment menacing the country. Small business enterprises
is an independent business which is managed and which does not dominate its
relevant market segment of interest, managed by its owner or part owner
and has a small market share (Bolton Report, 2006).
Today, the
unemployment problem has eaten even deeper into fabrics of the Nigeria society
and threatened her economic growth, much more than was bargained for and
has left little to be desired indeed, the situation has deteriorated to the
level that graduates of higher
institution spend up to three to four
years at home after graduation without any sign of “white-collar” jobs coming
their ways, thus, it has been argued that people who lose their jobs or are
prematurely relieved from active civil service, pensioners delinquent youths,
unemployed graduates even suffers of HIV/AIDS, all of these groups, and many
others, could solve their problems of unemployment by starting a business of
their own in the small business enterprises (SBEs).
Small
business enterprises believed to be the engine room for the development of any
economy because they form the bulk of business activities in a growing economy
like that of Lagos State. This is manifested in the following ways.
Employment
generation capacity of about fifty percentage of global working population
Small
business enterprises constitute major avenues for income generation and
participation in economic activities in the lower income and developing
societies.
National
economic development prospects hangs on entrepreneurial energy of vibrant small
business as most big business concern grew from small scale to become big
icons.
As they grow
they protect nations from the geographical cost benefit permutations of a few multinational
who are ever prepared to close up their business and relocate at the slightest
provocation or appearance of economic downturn.
1.1 STATEMENT OF THE PROBLEM
For any
economy to be developed, people must be prepared to place their money or
resources on short-term and long term investment and bear business risks. In Nigeria, there was lack of authentic up to
date information on the role played by small Business Enterprises towards
economic growth and development and most especially through creation of job
opportunities for the people (AJALA E.M 1999)
The
irregular government policies, poor financial aid and poor infrastructural
problems that ginger the cost of production, make the small business enterprises to be baffling
with survival rather than creation of employment as expected. As a result the
researcher intends to find out at what rate has SBEs in Nigeria create
employment.
1.2 OBJECTIVES OF STUDY
The major
objective of this study is to determine the role played by small business
enterprises in generating employment opportunities for the people of Lagos
State in order to enhance the growth and development of the economy.
To examine
the extent to which small business enterprises creates employment opportunities
in Lagos State.
To study the
mechanism that assists and support small business enterprises and their
contribution to employment generation.
To examine
how small business enterprises create employment opportunity in the
manufacturing sector.
To know if
financial institutions encourages small business enterprises to achieve its
predetermined objective.
To study if
infrastructural provision helps small business enterprises to grow in Lagos
State.
1.3 RESEARCH QUESTIONS
1.To what
extent has Small Business Enterprises create employment opportunity in Lagos
State?
2. How does Small Business Enterprises improve
the standard of living of average Nigerians?
3. Does financial institution help Small
Business Enterprises to achieve it predetermined objectives?
4. To what extent has Small Business
Enterprises help to reduce unemployment rate in Lagos State?
5. How does infrastructural provision help
small business enterprise to grow in Lagos State?
1.4 RESEARCH HYPOTHESES
Ho: Small Business enterprises have no positive
impact on employment creations in Lagos State.
Hi: Small Business Enterprises have positive
impact on employment creations in Lagos State
Ho: The availability of infrastructural
provision on Small Business Enterprises would not have any impact on employment
generation in Lagos State.
Hi: The availability of infrastructural
provision on Small Business Enterprises would have impact on employment
generation in Lagos State.
1.5 SIGNIFICANCE OF THE STUDY
The
significance of this study is very important to individual or groups, firms,
and the nation at large. The following were some of the importance of this
study?
The study
would assist as to know how small business enterprise aid in creating
employment opportunities in Lagos State.
The study
would assist individual, firm and the nation in planning business by revealing
all aspects of the intended business.
The study
would also aid prospective investors to fulfill the requirements of small
business establishment.
1.6 SCOPE AND DE-LIMITATION OF WORK
The research
would be limited to a few selected Small Business Enterprises in Ojo and Amuwo Odofin area of Lagos
State.
1.7 OUTLINE OF CHAPTERS
Chapter one:
Introduced us to the body of research work, in this chapter various textbooks
and journals will be reviews to ascertain various thoughts on small business
enterprises on employment creations in Lagos State.
Chapter Two:
The means of literature review will be majorly through textbooks and journals
to get a grasp of what small business enterprises is all about and how it leads
to employment opportunities.
Chapter
Three: research methodology is the term on how research will be carried out the
primary and secondary data, research design will be adopted, and this will
involves acquisition of various and relevant information concerning small
business enterprises and employment creations in Lagos State.
Chapter
four: Data Analysis and interpretation is based on presentation of data,
analyses and results testing of hypotheses and discussion for results. It
explains how facts will be analyzed using statistical framework.
Chapter
five: Summary and conclusion of main findings and recommendations will take
place after completion
1.8
DEFINITION OF TERMS
Small
Business: These are enterprises that are locally owned and managed often with
very few workers. Small business enterprises have simple structure they often
show attitudes and behaviours.
Unemployment:
It means a situation where able men and women have not job to do.
Economic
Development: It means maturity of the quality and quantity of a goods produced
in a county.
Economic
Growth: It means quantitative increase in country’s input and output over a
particular period of time.
Working
Capital: This means fund for acquiring and running small business.
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