Entrepreneurial skills development and viability of small and medium scale enterprises

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Entrepreneurial skills development and viability of small and medium scale enterprises

These topic Entrepreneurial skills development and viability of small and medium scale enterprises is vetted, supervise and approved for Hnd, bsc, pgd, msc and phd   pages:95 price:8,000 or $35 dollars, chapter 1-5 

 

1.1     Background to the Study

Education in whatever form, aims at equipping the recipient with knowledge, skills and competencies for solving lifelong problems and challenges. It is also the greatest investment that should be made by a country in order to bring about quick and effective national development in the areas of economic, political and human resource. This implies that a sound and qualitative education would make a country to attain its heights in development. It is also expected that sustainable development would make the citizens of a country to live happily and comfortably. To make these possible, Nigeria formulated five national goals of education as contained in her National policy on Education (NPE) (2004). These goals aim at building:

  1. A free and democratic society; ii. A just and egalitarian society; iii. A united, strong and self reliant nation; iv.    A great and dynamic economy;
  2. A land full of bright opportunities for all citizens.

 

 

To achieve these five national goals of education, Business education which is described as an education for and about Business education could play a vital role. This is because in relation to the core business skills (accounting, management, marketing, purchasing and supply, banking and finance, office technology and management and entrepreneurship skills), Business education also gives the recipients general education which would make them to become functional members of the society.

Small and Medium Scale Enterprises (SMEs) now attract the attentions of governments all over the world. Different criteria are used in defining the SMEs. Based on this, Sanusi (2003) stated that for the purpose of Small and Medium Industries Equity Investment Scheme (SMIEIS), a small-and-medium-scale industry is any enterprise with a maximum asset base of ₦200 million, excluding land and working capital, as well as having a workforce of not less than ten and not exceeding three hundred workers. Similarly, Adeyeye (2008) explained that a small-scale enterprise is an enterprise which has an asset not exceeding ₦50 million and a workforce of not more than one hundred workers, while a mediumscale enterprise is an enterprise with a total asset and employees not more than ₦200 million and three hundred employees respectively. SMEs are recognized as engines of economic growth and drivers of economic development. This owes to the fact they contribute toward improving productivity, employment generation, poverty reduction and standard of living. SMEs are however faced with problems of management, marketing, record keeping and communication. It is based on these that Onugu (2005) reported that majority of the SMEs in Nigeria cease to exist within the first five years of their existence and only five to ten percent of the SMEs survive, grow and thrive to maturity.

From the foregoing, it is obvious that Business education has the potentials of promoting SMEs. This is owing to the fact that the skills which it equips its recipients with could lead to the development of entrepreneurial skills. Similarly, it is expected that the Business education skills could lead to developments that would enhance better identification of customers’ needs and wants, development or provision of products to satisfy the customers, fixing appropriate and affordable prices, proper keeping of financial and other organizational records, good customer relations, leadership skills for dealing with employees or subordinates and business management skills. It is against this background that this study investigated the influence of Business education skills in promoting SMEs in the North-Western Geo-Political Zone of Nigeria.

1.2        Statement of the Problem

Looking at the operations and activities of Small and medium scale enterprises (SMEs), the researcher observed that they are catalysts for economic growth and development of Nigeria. Unfortunately, based on experience and observations of the researcher as well as deductions from Njoku and Nwosu

(2002), Onugu (2005) and Enoma, Ugbomhe and Dirisu (2010), it was discovered

that SMEs are faced with a lot of challenges which centre on management, bookkeeping/accounting, record-keeping, leadership and marketing skills. These challenges led to deficiencies such as poor management, poor initiatives, poor decision making, poor communication skills, poor keeping and maintenance of financial records and inability to produce and maintain other organisational records. Other problems include low level of delegation, unwillingness to cooperate with employees, poor sales habit, poor customer relation and inability to properly scan through the environment to better determine the needs and wants of the people. The result of these is the premature winding up of many SMEs. This thus constituted the problem of this study.

1.3        Objectives of the Study

The major objective of the study was to determine the influence of Business education skills in promoting SMEs in North-Western Geo-political Zone of Nigeria. Based on this, the specific objectives of the study were to determine:

Entrepreneurial skills development and viability of small and medium scale enterprises

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