EFFECT OF SMALL SCALE ENTERPRISES ON THE ECONOMY DEVELOPMENT OF A NATION: A STUDY OF DEKUL WATER LIMITED, ILORIN, KWARA STATE

This research work is on the impact of small and medium scale enterprises on the economy development of a Nation. The main objective of this study is to empirically examine the impact of small and medium scale enterprises on the economy development of a Nation. The information gathered from the respondents through questionnaire were presented in this work. The discussion and judgment of this study is based on the numbers. The test of hypotheses was done using chi-square method and each hypotheses was tested and interpreted based on the result. The study showed that the challenges of SMEs in Nigeria are inadequate financial support, poor access to credit facilities; poor government participation, poor access to credit facilities, poor government participation, poor infrastructure development in the country, low assistant of SMEDAN and other credit guaranteed financial institution to SMEs in Nigeria. Therefore, the study recommends that the Nigeria government should provide the basic infrastructure that will assist the SMEs and there is the need to establish formal financial institutions just like the bank of industry (BOI) with the mandate of providing financial support specifically to the SMEs. Finally, discussions of the results were done. The study has assisted in establishing that SMEs are vibrant means of creating employment to reduce poverty in the country.