CHPTER ONE

1.0  BACKGROUND OF THE STUDY

According to Adekunle (2005), the importance of the Small Scale Enterprises to Economic development of any country whether developing or developed cannot be overemphasized.

Small Scale Enterprises considered to be one of the driving forces in economic development. They stimulate private ownership and Entrepreneurship skill, they are feasible and can adapt quickly to changing market, demand and supply situations they also generate employment, help diversity economic activities and make significant contribution to expert and trade.

According to the guidelines for accessing credit facilities for Small Scale Enterprises in Nigeria by R.K. Moruku (2002), “There is potential in Small Scale Enterprises to create employment, reduce underemployment and poverty, utilize local raw materials output expansion and transformation of indigenous technology. Others are those to reduce intermediate goods, promote even development and reduce income inequalities. Thus, they constitute a strategic choice in industrialization and economic development, even served as a new development aid model. 

In view of growing unemployment and poverty including the working poor in Nigeria, the indignity poverty inflicts on and threat to the survival of human kind, no efforts should be spared in nurturing, supporting and sustaining Small Scale Enterprises in Nigeria.

1.1  STATEMENT OF THE PROBLEM

The economy at present needs diversification and expansion. Despite the fact that government goals of encouraging economic growth along with decreasing employment and providing a well trained labour force have been activity pursued since the re-construction period of the civil war and the oil boom era. The nation however is still loosing grounds in the area of unemployment, inflation, economic stagnation and over/under supply of skilled labour force.

In Nigeria expects to solve HS social economic problem in efficiency; it must take a critical look at the development of the Small-Scale business because of this development sector can be synonymous with national economic growth.

The emphasis on the small business sector, was not encouraged until recently and this changing emphasis was caused by some set backs presented by other sectors of the economy. It has been discovered that the public sector alone failed to significantly encourage economic growth.

This recognition informed the need of desore to examine critically the impact of Small–Scale Enterprises financing in improving the socio- economic well being of the Nigerian people.

1.2  PURPOSE OF STUDY

The purpose of this research is to investigate the impact of Small Scale Enterprises financing in improving the socio economic well being of the Delta State.

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