CONTRIBUTIONS OF SMALL SCALE BUSINESS ENTERPRISES TO ECONOMIC DEVELOPMENT(A CASE STUDY OF OIL FIELD TRANSPORT)

This research project is a very crucial study of contributions of small scale business enterprises to economic development. It is divided into five (5) chapter. Chapter one begins with introduction of the study which deals with the procedure and techniques used to carryout the study of the research. It provides a detailed accounts of methods used in collecting the data, way these methods were chosen amongst others, what data were collected, obtained and how they were obtained and analyzed. In other words below are the methods used in obtaining data this research study. Both primary and secondary data were collected to solve the research instrument used for data collection were questionnaires, oral interview frequency tables and percentages were used in presenting and analyzing the data collected. The chi-square formula was also used to test the various hypothesis. Form the data analysis, the researcher came up with the following findings. - The study in this project work revealed that the country has a predominance of small- scale business enterprises. - The study also revealed that some beneficiaries of small scale industries credit scheme loan made little or no effect to repay loans granted to them, thereby denying other potential entrepreneurs from benefiting from such loan. - Major attempts to promote small scale business enterprise mostly industry credit scheme which could not help matter due to the right regulations guiding the scheme. Based on the findings, the researcher recommended the following. 1) Entrepreneurship development programme (EDP) should be integrated in our educational system. 2) State government should put in place a credit guarantee scheme where by it’s ministry of commerce will guarantee loans granted by financial institution to small scale enterprise 3) Government should subside imported machinery which would stimulate domestic engineering and machine workshop which potentially important in helping scale business enterprise improve on the equipments. The conclusion of the study is that promotion of small scale enterprises must occupy a prominent position in both the state and federal government industrial policy. Most especially if the sate hopes to occupy its rightful place as a leading industrial state in Nigeria. Suggestions for further study is that more studies should be carried out to actually determine the huge potentials of small scale industries and it’s impact on the economic development of the nation more importantly it’s employment generation capabilities.