THE RELEVANCE OF SMALL SCALE BUSINESS IN THE ECONOMIC DEVELOPMENT OF DELTA STATE (A STUDY OF ISSELE-UKU).
Abstract: This study focused on the relevance of small scale business in the economic development of Delta State with particular reference to Issele-Uku community. The authors are out to find out the economic importance of small businesses, to identify major problems affecting small scale businesses, to identify factors that motivate small business owners and suggest possible solutions to these problems. The simple random sampling was adopted to select thirty small business owners from Issele-Uku community. Does insufficient fund/lack of managerial skill hinder economic growth and development form part of the research questions. The authors also carried out a thorough review of relevant literatures. Structured questionnaire validated by experts were used to collect relevant data for the study, the study revealed that lack of capital and managerial skills, non-availability of raw materials, unfriendly government policies to mention a few are factors mitigating against the growth and stability of small scale businesses. Conclusion was made and it was recommended among others that more micro finance banks be established to beef up the sources of fund for business.
Authors Name: Nwakwushue J. I. Okonkwo., Obioma Onwochei.