EXAMINING SMALL SCALE BUSINESSES AND THE PROSPECTS AND CHALLENGES OF SETTING THEM UP

EXAMINING SMALL SCALE BUSINESSES AND THE PROSPECTS AND CHALLENGES OF SETTING THEM UP

 ABSTRACT

This work is a review of the problems and prospects of setting up small-scale business in Nigeria. The Statement of Problem identified were setting problem caused by poor planning, finance problem caused by lack of financial support and poor funding and multiple and high Taxes. While the prospects of Small-Scale Business in Nigeria can be subdivided into: employment opportunities, job creation and contribution to total Gross Domestic Product (GDP). To meet the general objective, the study will focus on the following specific objectives: To identify the effect of poor planning to the management in small-scale business, to examine how lack of financial support and poor funding can lead to Finance problem of small-scale business and to determine how Multiple and High Taxes influence the management of small-scale business. The descriptive survey method was used and the research tool was questionnaire. 9 respondents answered the questionnaire. Data analysis using likert scale and presentation was done by the use of tables. The findings from the study showed mainly that there is evidence to prove that poor planning affects the management in small-scale business. Finally, solutions and recommendations were proffered on how the poor planning to the management in small-scale business should be improved to help their productivity by combination of critical success factors. The write up is duly summarized.

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