CHAPTER ONE INTRODUCTION 1.1Background of the Study midget and medium surface enterprises (SMEs) are the thorn of virtu whollyy all economies of the world because of their type in commerce creation and provision of personalized field (Wattana, 2003). SMEs have sozzled influence on the sustainable organic evolution process of slight developed as much as developed countries because they cherish economic growth and alleviate poverty. The learning of SMEs is an essential broker in the growth strategy of nigh economies and holds particular signification for developing countries like Nigeria Since the attainment of freedom in Nigeria, every(prenominal) known regime has recognized the importance of promoting small and specialty Scale Enterprises (SMEs), as the basis of economic growth. The Nigerian brass embarked on economic reforms in 1987 with the adoption of the repose form _or_ system of government which has been linked to rapid economic growth. Over t he years, the Federal political science has taken motley steps, including monetary, fiscal and industrial policy measures to labour the development of SMEs in Nigeria. This was achieved by the funding and setting up of industrial estates to center overhead costs.
The Federal Government in any model established specialized financial institutions, including the Small Scale manufacturing accredit Scheme (SSICS), Nigeria Industrial Development strand (NIDB), and Nigeria Bank for trading and Industry (NBCI) with the aim of providing long term realisation facilities to SMEs. The government also provided technical training and advisory services th! rough the industrial development centres and facilitated the setting up of Small and strength Industry Equity Investment Scheme (SMIEIS). SMIEIS is a lineation set up by the Bankers Committee requiring all banks in Nigeria to set aside 10 percent of their utility out front Tax (PBT) for equity investment and promotion of Small and mass medium Industries. The range of activities in respect of which funds should be employ for are...If you want to get a full essay, enounce it on our website: OrderCustomPaper.com
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