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ABSTRACT
The main purpose of this research
project is basically to determine whether small business enterprises
contribute to the growth and development of Nigerian's economy and to
identify the problems and challenges of small businesses in Nigeria. It
also identifies the extent of government financial assistance to the
small business enterprises.
The core research questions and
hypotheses for this study were: are small businesses contributing
towards improving the Nigeria's economy? To what extent is the
availability of credit facilities contributing to the survival of small
business enterprises, small business enterprises do not contribute
towards improving the Nigeria's economy, the availability of credit
facilities do not contribute to the survival of small business
enterprises.
A hundred and ten questionnaires were
distributed randomly to stratified groups within Ikeja Local Government
Area. Hundred respondents duly filled and returned the questionnaires.
This constitutes the sample size. Out of this number, eighty-seven were
male while thirteen were female. A 5 - point likert scale was developed
and validated to collect information from the respondents.
The data collected was analyzed with
basic descriptive statistics such as frequency and simple percentages.
Chi-square analysis was also made. The core findings from the results
obtained show that small business enterprises are faced with numerous
problems like inadequate capital, inadequate raw materials,
inconsistency in government policies and a host of others. It was
discovered that there is a prospect for the small business enterprises
because of various schemes put in place by the government and also if
government's good policies are well implemented, the sky will be the
limit for small businesses enterprises in Nigeria. A survey was carried
out by means interviews and questionnaire. This showed that the
contributions of small business enterprise to the growth and development
of Nigeria's economy is positive. There are also various remarks and
recommendations in the study and if all these are strictly adhere to
there will be a great improvement in the performance of small business
enterprises which will be for the betterment of all.