PROBLEMS AND PROSPECTS OF SMALL-SCALE INDUSTRIES IN NIGERIA
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- NGN 3000
EXCERPT FROM THE STUDY
The underfunding of small-scale enterprises has led government to formulate measures aimed at assisting this sector. Loan packages of the World Bank, National Directorate to employment and in more funds to finance the activities of the enterprises. However, small-scale enterprises are usually reluctant to bring in partners, even at the risk of under capitalization. The underfunding of small-scale enterprises has led government to formulate measures aimed at assisting this sector. Loan packages of the World Bank, National Directorate to employment and NERFUND are among such assistance scheme. The one-man proprietorship syndrome of small scale enterprises is not only sad for their financial profile but can also discourage accountability which is the foundation of a successful business. Accountability ensures adequate control over the appropriate financial strategies. The small-scale enterprises even not shielded form or immune to the lack of infrastructure, which is the bane of all businesses in Nigeria. On the contrary, small medium scale enterprises given more under the weight generating plant, high cost of telephone and electricity. Needless to say, no business can survive without their facilities.
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