THE ROLE OF SMALL AND MEDIUM ENTERPRISES (SMEs) IN RURAL DEVELOPMENT: A CASE STUDY OF KENYASI IN THE ASUTIFI NORTH DISTRICT
- Project Research
- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
- Reference Style: APA
- Recommended for : Student Researchers
- NGN 3000
- Background to the Study
The role of micro and small enterprises (MSEs) as engines of endogenous development in rural economies is increasingly recognized in development theory and has attracted the attention of policy makers (Tetteh & Frempong, 2009). According to Tacoli et al, (2003) MSEs add value to agricultural products and play crucial roles in the decentralised use and distribution of resources. Again, they augment government efforts to achieve economic growth and poverty reduction in rural and urban areas (African Development Bank, 2005). Wangwe (1999) argues further that MSEs tend to ensure balanced economic growth since they are concentrated in different parts of the country. Once more, Reijonen and Komppula (2007) posit that MSEs have been credited for introducing innovations into the market to serve as a catalyst for societal development (Reijonen & Komppula, 2007). The development and promotion of MSEs can deepen the manufacturing sector and foster competitiveness.
A vibrant MSE sector can also help to achieve a more equitable distribution of the benefits of economic growth by alleviating some of the problems associated with uneven income distribution (UNCTAD, 2001). Consequently, many development plans in developing countries have placed strong emphasis on the development of an entrepreneurial middle-class that create employment and has the potential to overcome institutional conditions that hamper growth in rural areas. For example, in Ghana, the Growth and Poverty Reduction Strategy (GPRS I &II) identified MSEs as engines of growth, wealth creation and avenues for employment generation for the majority of its citizens.
In Ghana, a vibrant MSE sector in the rural areas is very important since about 60% of the country’s population reside in these areas where poverty is more pronounced. According to the Ghana Statistical Service (2012), about 86% of the total population living below the poverty line in Ghana can be found in the rural areas. Recognising the critical role of the MSEs in poverty reduction, a number of existing institutions, which have a mandate to promote industrialisation in the rural areas, have been strengthened to facilitate more economic change on the countryside. Tetteh and Frempong (2009) posit that in order to build strong rural economy, the government of Ghana has set up National Vocational Training Institutions (NVTI), established entrepreneurial development programs as well as favourable conditions for micro financial institutions (MFIs) and other infrastructural services to encourage the growth and development of both informal and formal MSEs in the country.
The problems of rural development in Ghana have become a major concern today. This concern notwithstanding, the problems seem as intractable as ever. There are significant disparities in income and standards of living between the rural and urban populations (GPRS, 2004). This has resulted in the continuous increase in the movement of people from the countryside to the city, creating a serious social crisis, the ramification of which is affecting the quality of life. The manifestations of this include; people sleeping on pavements and others sprawling in shanty slums, ragged beggars, crimes and other deviant behaviours such as prostitution, drug addiction and alcohol abuse (GPRS, 2004)
Related Project Materials
THE IMPACT OF ENVIRONMENTAL FACTORS ON ORGANIZATIONAL PERFORMANCE
ABSTRACT
It has been argued that the success and effectiveness of an organization are not determined so...
DESIGN AND IMPLEMENTATION OF A COMPUTERISED TRANSCRIPT GENERATING SYSTEM (A CASE STUDY OF COMPUTER SCIENCE DEPARTMENT, UNICAL)
ABSTRACT
The system solves the problem of missing result of students in tertiary institutions and the system proffers a...
THE EFFECT OF COMMUNICATION ON EMPLOYEE PERCEPTION OF CHANGE IN AN ORGANIZATION
ABSTRACT
This study was carried out to examine the effect of communication on employee perception of change in an organi...
NURSES' ROLE IN PREVENTION OF INFANT AND UNDER-FIVE CHILD MORTALITY IN AFRICA
ABSTRACT
The under-five mortality rate remains unacceptably high with 6.3 million children dying before their fift...
INTEGRATION OF VERNACULAR ARCHITECTURE FEATURES IN A POLO SPORTS CLUB
ABSTRACT
Vernacular architecture is the expression of an individual person’s or society’s culture, history and locality or ge...
SUSTAINABILITY REPORTING FRAMEWORKS AND THEIR IMPACT ON FINANCIAL REPORTING
Abstract:
This study examines the impact of sustainability reporting frameworks on financial reporting...
THE ROLE OF EARLY CHILDHOOD EDUCATION IN REDUCING PREJUDICE
ABSTRACT: The role of early childhood education in reducing prejudice was explored to understand how early educational interventions can foster inc...
design and implementation of drug verification system using gsm
ABSTRACT
Establishing the authenticity of a product’s o...
PROSPECT AND CHALLENGES OF FOREIGN EXCHANGE GAINS AND LOSSES TAXATION
Abstract: PROSPECT AND CHALLENGES OF FOREIGN EXCHANGE GAINS AND LOSSES TAXATION
This study explores the prospects and challenges associat...
EFFECT OF WORKPLACE FLEXIBILITY ON EMPLOYEE ENGAGEMENT (A STUDY OF GATEWAY ICT POLYTECHNIC SAAPADE)
Background of the Study
The notion of workplace flexibility has garnered considerable attention in rece...
