THE ROLE OF SMALL AND MEDIUM SCALE BUSINESS ENTERPRISES ON THE DEVELOPMENT OF THE NIGERIA ECONOMY

This research work viewed the role of small and medium scale industries as tool of national and economic development of nation economy. Made use of simple regression analysis and questionnaire to show the relationship between output of small and medium scale industry and Gross Domestic product investment rate and unemployment. It was observe there exist a positive relationship between the output of a small and medium sealer industry and Gross Domestic product (GDP) these relationships confirm with observation that the small and medium scale industries expectation. This it has been noted that small and medium scale industries is one of the important catalysts in the socio – economic development in Nigeria. In addition a positive relationship exists between small and medium scale industries and unemployment it was a prior expectation it was as a result of factors such as increase in population rate graduating school leavers etc it was also argued that factors such as high demand for collateral by banks, inadequate facilities mitigate against the function of small and medium scale industries in Nigeria.