FINANCING MEDIUM SCALE ENTERPRISE IN NIGERIA ORGANIZATION (UNIBEN TABLE WATER ENTERPRISE ) CHAPTER ONE INTRODUCTION 1.1 Background To The Study Small and medium enterprises are believed to be the major device for the development of any economy, because they form the major part of business activities in a growing economy like Nigeria (Basil, 2005) . This is obvious in the following ways, employment generation, rural development, economic growth and industrialization, better utilization of indigenous resources (Tafamel, 2009). Consequently, entrepreneurship is fast becoming a household name in Nigeria. This is as a result of the fact that the so called white collar jobs that people crave for are no longer there which make entrepreneurship a growing trend. Small and Medium Enterprises (SMEs) as defined by the National Council of Industries refer to business enterprises whose total costs excluding land is more than two hundred million naira (N 200, 000,000.00) only. In so many seminars and workshops both locally and internationally, SMEs has formed the matter of discussion. In the same vein, governments at diverse levels (local, state and federal levels) have in so many ways concentrated on the Small and Medium Enterprises. Some governments have formulated policies aimed at facilitating and strengthening the growth and development and performance of the SMEs, others had focused on assisting the SMEs to grow through soft loans and other fiscal incentives (Basil 2005). International agencies and organizations such as (World Bank, United Nations Industrial Development Organization (UNIDO), International Finance Corporation (IFC), United Kingdom Department For International Development (DFID), European Investment Bank (EIB) among others are not only promptly interested in making SMEs robust and vigorously in developing countries but have also heavily invested in them. Locally, the several Non-Governmental Organisations such as Fate Foundation, Support and Training Entrepreneurship Programme (STEP), the Nigerian Investment Promotion Commission (NIPC), the Association of Nigerian Development Finance Institutions (ANDFI), as well as individual Development Finance Institutions (DFIs) have been promoting the growth of SMEs in Nigeria through advocacy and capacity-building initiatives, and have continued to conduct for better structures for operators in the SME subsection (Basil 2005). So much has been written about performance in recent years as the relationship between finance and performance of small and medium enterprises (SMEs) has received significant attention in finance literature. Small and medium enterprises (SMEs) performance may be measured using financial performance, market performance and share holder returns . This study examines how the finance gap for SMEs might be addressed by means of policies to support other financing initiatives other than commercial finance by the conventional financial institutions. The study seeks to investigate the awareness and use of these various financing institutions available to SMEs in Nigeria. 1.2 Statement Of The Problem Small and medium enterprises (SMEs) in Nigeria have not performed commendably well and has not performed the vital and expected role in the development or economic growth in Nigeria. Some SMEs in Nigeria strive to survive and grow to maturity within their first three to five years of existence. Many factors have been identified contributing to the failure of SMEs. The key factors are insufficient capital, infrastructural inadequacies, irregular power and supply, inadequate market research, lack of proper records, lack of business strategy, lack of proper book keeping, inability to distinguish between revenue and profit, inability to engage or employ the right staffs, inability to acquire the right plant and machinery (Agwu&Emeti, 2014). 1.3 Research Questions Based on the statement of the problem, the study seeks to answer the following research questions. i. What are the major sources of financing Uniben integrated enterprise? ii. What are the financial problems confronting the enterprise? iii. What are the solutions to the problems of financing the enterprise? 1.4 Objectives Of The Study This study aims to ascertain the effect of financing small and medium scale enterprises. The aims are: i. To ascertain the major sources of financing Uniben table water enterprise. ii. To find out the financial problems confronting the enterprise. iii. To provide possible solutions to the problems of financing the enterprise. 1.5 Significance Of The Study This study will benefit to many stakeholders such as young graduates in establishing their own business. This research study will provide a better understanding about financing a business. The outcome of this study is expected to provide information that will be useful to the manager of Uniben table water enterprise, related industry, government, policy agency and individuals (employers, employees, young graduates). This research study will examine the financing of small and medium scale business and an aid to profit maximization and increase in the level of employment. Lastly, this study would further contribute to the body of knowledge and be a useful source of information including for future research regarding this study. 1.6 Scope Of The Study The study will be limited in scope to staffs in Uniben table water enterprise, Ekehuan campus, Benin city metropolis. The subject matter is to investigate the financing of small and medium scale business. For the purpose of this study, the funding of small and medium scale business include: i. Formal financial institutions such commercial banks, merchant banks etc. ii. Informal Institutions such as money lenders, landlords, friends etc. iii. Personal savings. iv. Managerial and employees skills.
FINANCING MEDIUM SCALE ENTERPRISE IN NIGERIA ORGANIZATION (UNIBEN TABLE WATER ENTERPRISE )
CHAPTER ONE INTRODUCTION 1.1 Background To The Study Small and medium enterprises are believed to be the major device for the development of any economy, because they form the major part of business activities in a growing economy like Nigeria (Basil, 2005)... Continue Reading
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ABSTRACT The main purpose of this study is to identify the problems and prospects of small and medium scale enterprise in Nigeria using a case study of Gilead table Water in Effurun Delta State. To do this, data were collected from both primary and secondary sources. The main instrument of data collection was the questionnaire. The data were... Continue Reading
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ABSTRACT The purpose of the thesis is to examine the Effect of Motivation on Workers Productivity in an Organization, using Uniben Enterprises (Waters) as a Case Study. The thesis incorporated a-study that was conducted to find out the workers attitudes towards adequate motivational incentives and the types of problems commonly being experienced... Continue Reading
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This study investigates the role Small and Medium Scale Enterprise and Infrastructural Development in Nigeria. The basic objective of the study i s to examine how infrastructure contributes to the Nigerian economic development. The use of questionnaire was employed to get the needed information from the selected population. The information gotten... Continue Reading