Small Scale Enterprises in Nigeria: Towards Its Sustainability
D. J. Micah *
Department of Sociology, Nigeria Police Academy Wudil-Kano, Nigeria
E. E. Okafor
Department of Sociology, University of Ibadan, Ibadan, Nigeria
O. A. Idowu
Department of Sociology, Nigeria Police Academy Wudil-Kano, Nigeria
S. J. Orija
Department of General Studies, Oyo State College of Agriculture and Technology, Nigeria
*Author to whom correspondence should be addressed.
Abstract
Small Scale Enterprises (SSEs) remained veritable tool to overcome the scourge of poverty in the developing nations of the world. In this line, the study investigated the role of government in sustaining the sector.
A sample of 200 respondents was randomly selected from targeted small scale traders through the application of questionnaire. This was complemented with In-Depth Interview (IDIs).
Sixteen percent of the respondents benefitted from the government in the form of soft loans and training workshops. At the same time, 64% of the traders complained the non challant attitude of government at promoting the sector. This was in the form of access to loan, taxes, electricity, and security to lives and properties. Sources of financing SSEs consisted of family (27.0%), personal income (51.0%), friends (6.0%), cooperative (7.0%) and government aids (9.0%)
SSEs suffered from a low level of government investment and attentions despite its capacity to serve as major employer of youths. It is strongly recommended that government at all levels should incorporate in their policy agenda the social transformation of small scale sector. This will go a long way of mitigating the scourge of poverty in Nigeria.
Keywords: Small scale business, role of government, profitability, taxes