Download Tag: SMALL AND MEDIUM SCALE ENTERPRISES

ABSTRACT      This research work aims at investigating the problems encountered by small and medium scale enterprises in obtaining bank loans with particular reference to Union Bank Nig. Plc, Ogui Road, Enugu. It is a common knowledge that Banks often favour the large –scale industries in credit extension scheme.  This is because of their higher equity base, availability of collaterals and lower risk. Further still, they have a more organized ...

ABSTRACT The central tenet of banking sector consolidation was to develop a strong, reliable and diversified banking sector that is capable of playing effective developmental roles in the economy, such as funding of small and medium scale enterprises and becoming a competent and competitive player in the African regional and global financial system. In essence, the reform was expected to create big banks by increasing bank capital base through the ...

ABSTRACT This study investigated the impact of online marketing on small and medium enterprises in Lagos metropolis. A descriptive quantitative survey research design was adopted in the study. The population of the research was all the Small and Medium Enterprises in Lagos metropolis which are using online marketing applications and own internet website which is estimated to be 395 units. Out of 395 units, a sample of 200 SME units ...

Abstract This study sought to establish the relevance of International Financial Reporting Standard (IFRS) to small scale enterprises in Nigeria. The international accounting standard board (IASB), in its objectives and preamble, suppose that the beneficial effects from IFRS adoption include transparency, accounting quality and reduced cost of capital. Based on these assumptions, this study applied timeliness, simplicity/ understandability, quality, transparency and comparability to find out whether the adoption of IFRS ...

CHAPTER ONE INTRODUCTION 1.1   Background to the study The small and medium scale enterprises sector has been recognized worldwide for its role in economic advancement through various ways like; wealth generation, employment creation, and poverty reduction. Small and medium scale enterprises are a fundamental part of the economic fabric in most developing countries, and they play a very important role in furthering growth, innovation and prosperity. Small and medium ...

Abstract This study tries to look at the accessibility of credit facility from financial institutions by small and Medium Scale Enterprises: Evidence from Nigeria. Small and Medium Scale Enterprises have been faced with poor funding when developing nations like ours are considered. This however distorts the outstanding function of SMEs as the engine and pivot for the economic growth and national development. No wonder Nigeria has continued to experience high ...

ABSTRACT Various criteria had been used to define small and medium scale enterprises in different countries of the world.  In Nigeria, small and medium scale enterprises are defined as those in the industrial sector, which exclude general commerce, whose total capital investment does not exceed N2.5 million (including land and working capital or whose maximum turnover is N12.5 million annually). These enterprises are very essential and important for the economic development ...

CHAPTER ONE INTRODUCTION 1.1 Background to the Study The concept of internal control is said to trace its history back to the beginning of the 20th century when audit on financial statements came into being, it has consistently evolved to what it is presently due to continuous change in the business environment (Heier, Dogan and Sayers, 2005). The expansion of the world economy and the scale of enterprises growth after ...

CHAPTER ONE 1.0 INTRODUCTION 1.1 BACKGROUND OF THE STUDY Every organisation both profit and non-profit has its objectives and goals in mind to achieve (Chukwu, 2012). For a profit making organisation, the goal is to satisfy the expectation of the owners through the maximization of expected return on capital. The size and scope of Small and Medium Scale enterprises may be small but they still require efficient running of their ...

CHAPTER ONE INTRODUCTION 1.1   Background to the study The small and medium scale enterprises sector has been recognized worldwide for its role in economic advancement through various ways like; wealth generation, employment creation, and poverty reduction. Small and medium scale enterprises are a fundamental part of the economic fabric in most developing countries, and they play a very important role in furthering growth, innovation and prosperity. Small and medium ...

ABSTRACT Nigeria’s economy is characterized very by large number a relative of micro enterprises, and in between lie small and medium enterprises (SMEs). The unique feature of most SMEs is that, they can be easily established since their requirement in terms of capital, technology; management and even utilities are not as demanding as it is the case of large enterprises. Consequently, small enterprise sector is one of the leading employers ...

CHAPTER ONE INTRODUCTION 1.1 BACKGROUND TO THE STUDY The desire to build a strong economy is the desire of every patriotic citizen in Nigeria. This desire is illustrated via high productivity in the part of citizens in Nigeria and, the ability of the government to diversify the economy to earn more foreign exchange. Over the years, the discovery of oil in Nigeria has been argued to be a curse rather ...

CHAPTER ONE 1.0 INTRODUCTION 1.1 BACKGROUND OF THE STUDY Every organization both profit and non-profit has its objectives and goals in mind to achieve (Chukwu, 2012). For a profit-making organization, the goal is to satisfy the expectation of the owners through the maximization of expected return on capital. The size and scope of Small and Medium Scale enterprises may be small but they still require the efficient running of their ...

CHAPTER ONE INTRODUCTION 1.1 BACKGROUND TO THE STUDY The concept of internal control is said to trace its history back to the beginning of the 20th century when audits on financial statements came into being, it has consistently evolved to what it is present due to continuous change in the business environment (Heier, Dogan and Sayers, 2005). The expansion of the world economy and the scale of enterprise growth after ...

CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY Historically, Nigeria’s experience of taxation predates the colonial period. The Hausas of Northern Nigeria were paying taxes, though in kind, to the Emir in return for security and common services. However, with the advent of the colonialists, direct taxation was introduced in 1904 by Sir Lord Lugard, the then British appointed Governor. Its implementation started first in the North and later in ...

CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY Historically, Nigeria’s experience of taxation predates the colonial period. The Hausas of Northern Nigeria were paying taxes, though in kind, to the Emir in return for security and common services. However, with the advent of the colonialists, direct taxation was introduced in 1904 by Sir Lord Lugard, the then British appointed Governor. Its implementation started first in the North and later in ...

CHAPTER ONE 1.1   INTRODUCTION Strategic planning is defined as unified, comprehensive and integrated plan design to ensure that the basic objectives of an enterprises is achieved, it also known as long-term planning simply defined as the formal process of determining long, medium and short-term objectives and goals of an industry and how to achieve them. Enterprises employ strategic planning on financial planning of varying degree of completeness. Sexton and Auken identify four levels ...

CHAPTER ONE INTRODUCTION Background of the study Nigeria as one of the developing countries in the world, the growth of Small and Medium Enterprises (SMEs) is very vital for the growth of the economy in general as SMEs account for over 70% of the total business activities in the country. SMEs in most developing countries are usually neglected by both the formal financial institutions and the government unlike the developed ...

CHAPTER ONE INTRODUCTION Background of the study Small and medium-scaled businesses (SME) are businesses whose personnel numbers fall below certain limits. The abbreviation "SME" is used in the European Union and by international organizations such as the World Bank, the United Nations and the World Trade Organization (WTO). Small and medium-scaled enterprises outnumber large companies by a wide margin and also employ many more people. SMEs are also said to ...

Abstract A business whether small or big, simple or complex, private or public is created to provide competitive prices. Business in Nigeria, has been classified as small, medium and large. In both the developed and developing countries, the government is turning to small and medium scale industries, as a means of economic development and a veritable means of solving problems. It is also a seedbed of innovations, inventions and employment. ...