The impact of small scale business in nigeria economic are much to the extend that a word can not describe it no matter how you want to classify it.The impact has created a lot of business to nigeria system, for instance, MTN Nigeria has contributed and invested much into the economy.
Small scale retail trade in Nigeria has been responsible for the lack of large scale investment which can lead to export promotion. In small scale retail, most people settle for imports and the sales of items similar to other global competitors.
The generally accepted accounting practice (GAAP) is followed. However when the business is too small, they practice cost accounting system or maintain rough accounts by themselves.
no
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sources of finance to small scale business
A small scale business in Nigeria is one that doesn't do as much business as a market leader. Typically, these businesses are locally owned businesses.
Examples of the small scale business in Nigeria includes the fresh fruit business, the food supply business, the retail shop business, and the carpet cleaning business. The other important small scale business in Nigeria includes web designing and forex trading.
they varies
The impact of small scale business in nigeria economic are much to the extend that a word can not describe it no matter how you want to classify it.The impact has created a lot of business to nigeria system, for instance, MTN Nigeria has contributed and invested much into the economy.
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The problems of small scale industries in Nigeria include corruption, insecurity and poor infrastructure. The prospects on the other hand include engaging foreign traders in business so as to grow the economy.
running a school pure water business bakery tissue factory bottling industry
Lack of stable light, lack of support from the government
Source of finance for small scale business can be raise through 1. From family. 2. From friends 3. From cooperatives society 4. Loans from the bank... Nigeria has introduced some sectoral policies to strengthen the growth of SMEs in Nigeria. Some of the policies active there are Concessionary financing, Small and Medium Industries Equity Investments Scheme(SMIEIS) to encourage the growth of small and medium scale industries. In Nigeria, the National Council of Industry, under the Federal Ministry of Industries, periodically revises the classification of SMEs. Other institutions, such as the Central Bank of Nigeria and the Nigerian Association of Small Scale Industries(NASSI) promote the growth of small industries.
How does government policy affect small and medium scale enterprises in Nigeria
lack of personal development lack of passion lack of continous training