CHAPTER ONE
1.1 BACKGROUND OF THE STUDY
The performance of Small and Medium-Scale Enterprises (SMEs) as an instrument of economic growth and development in Nigeria has long been under scrutiny. This intense scrutiny has been against the backdrop of the low performance and inefficiency that characterized Small and Medium-Scale Enterprise (SMEs) particularly in assessing its role in economic growth and development. Abiodun, (2013) posited that despite government institutions and policies support to enhancing the capacity of Small Medium-Scale Enterprises (SMEs), it has fallen short of expectations. This has generated serious concern and scientism on whether Small and Medium-Scale Enterprises (SMEs) can bring about Economic Growth and National Development in Nigeria. The concern is even more disturbing when comparing Small and Medium-Scale Enterprises (SMEs) in Nigeria with other countries particularly where Small and Medium-Scale Enterprises (SMEs) has become a thing of concern in Nigeria. Small and Medium-Scale Enterprises (SMEs) have not performed well in recent times. Source: Review of Public Administration and Management, vol. 3 No. 7, 2015.
This low performance has further exacerbated poverty, unemployment and the low standard of living of people in a country whose economic is ailing. Abiodun, (2013)
The current problems of hunger, poverty and unemployment have undermined the capacity of the economic and Small and Medium-Scale Enterprises (SMEs) are set as mechanism for intervention to addressing those long term problem of the economy.
Unfortunately, Small and Medium-Scale Enterprises (SMEs) have not been able to propel economic growth and development which are quintessence of mitigating the effect of poverty, hunger, unemployment and low standard of living in the country.
The challenges and the problems of Small and Medium-Scale Enterprises (SMEs) are tied to some economic variables and the challenges that generally characterized the nation’s economy. Some of the challenges and problems include the following:
Five Chapters
