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This study, the effect of organizational challenges facing owners of medium enterprises in a recessive business environment in Enugu metropolis. The effect of organizational challenges were carefully examine and the aim of the study is to assess the organizational challenges facing owners of the medium scale enterprises in a recessive business environment. The survey research design was adopted and a sample size of 270 (two hundred and seventy) was gotten using Yamene 1964 formula out of the population of 828 (eight hundred and twenty eight) employees in Enugu metropolis. In determining the number of questionnaire administered to the respondents, stratified random sampling and the kumar proportionate were adopted. The data for the study was gathered with a four point likert scale questionnaire. The study revealed that power supply, skills, raw materials and low capital base constitute a major challenge facing owners of medium scale owners of medium scale enterprises in Enugu metropolis. The study concludes that medium scale enterprises can excel in productivity, financially and otherwise if all these challenges enumerated are taken care of. The study recommends that planned efforts should be made ahead of time to facilitate successful and timely implementation of a sound and uninterrupted power supply which can be done through an understanding synergy between owners of medium scale enterprises and government of the federal Republic of Nigeria.
Title page i
Approval page ii
Table of contents vi
1.0 INTRODUCTION 1
1.1Background of the Study 1
1.2 Statement of the Problem 2
1.3 Objectives of the Study 4
1.4 Research questions 5
1.5 Statement of Hypothesis 5
1.6 Significance of the Study 6
1.7 Scope of the Study 7
1.8 Limitations of Study 8
2.0 LITERATURE REVIEW 12
2.1 Theoretical literature 12
2.1.1 Concept of small and medium scale business 12
2.1.2 Categories of small and medium scale enterprises 18
2.1.3 Prospect of small and medium enterprise in Enugu east senatorial zone
2.1.4 Challenges of small and medium scale enterprises in Nigeria 21
220.127.116.11 Financing small and medium scale enterprises (SMEs) by commercial banks 22
2.2 Empirical Literature 24
3.0 RESEARCH DESIGN AND METHODOLOGY 32
3.1 Introduction 32
3.2 Research design 32
3.3 Sources of data collection 33
3.3.1 Primary source of data 34
3.3.2 Secondary source of data 34
3.4 Tools for data collection 34
3.5 Population of the Study 36
3.6 Sample and sample techniques 37
3.7 Instrumentation 37
3.8 Reliability and validity of data and test instrument 38
3.9 Data analysis techniques 38
4.0 PRESENTATION AND ANALYSIS OF RESULT 39
4.1 Introduction 39
4.2 Analysis of data 39
4.3 Test of hypotheses 59
4.4 Discussion of results 63
5.0 SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATIONS – 64
5.1 Introduction 64
5.2 Summary of findings 64
5.3 Conclusion 65
5.4 Recommendations 65
5.5 Area for further research 67
APPENDIX I 71
1.1 Background of the Study
It has been a contemporary issue in the recent studies on the challenges usually faced by the owners of medium scale enterprises mainly during the time of economic recession. It is obvious that the contributions of the medium scale enterprises towards the growth of the Nigeria economy cannot by any sight of imagination be over emphasize. Medium scale enterprises are usually regarded as the engine of the economic growth and equitable development in a developing economy.
Medium scale enterprises (MSE) have been recognized as indispensable components of natural development in both developed and developing economies. This subsector of the economy is globally acknowledged to contribute substantially in enhancing employment creation or generation, poverty alleviation, equitable distribution of resources, income redistribution, technical and technological innovation, entrepreneurial skills development, more uniform industrial and economic region? Moreover, they have been touted strategic in ensuring food security and encouraging rapid industrialization andreversal of rural-urban migration.
Consequently, both the federal, state governments and local governments recently have stepped up efforts to promote the development of medium scale enterprises through increased incentive scheme, including enhanced budgetary allocations for technical assistance programmes. New lending schemes and credit institutions such as the National Economic Reconstruction found (NERFUND), World Bank-assisted medium-scale enterprises loan scheme (MES), Nigeria Export and Import Bank (NEXIM) and the Community Bank have also emerged at both the national and local levels to boost the flow of development finance of small and medium scale enterprises which have so far depended largely on personal funds and credit from informal sources for both their investments and working capital.
1.2 Statement of the Problems
Notwithstanding the immeasurable contribution of the medium scale enterprises towards the economic growth in Nigeria, there are numerous organizational challenges facing this active sector over the years without solution. It is tradition in Nigeria that most medium scale enterprises in Nigeria die within their first five years of existence.The growth and development ofmedium scale enterprises in Nigeria have been slow and in somecases even stunted, due to a number of problems and challenges confrontingthis important sector of the economy. Some of the problems highlightedinclude: deplorableinfrastructural facilities funding and financing challenges; inadequatemanagerial and entrepreneurial skills; corruption and lack of transparencyarising from government regulations and regulators; poor power supply, low capital base, inadequate market research, lack of succession plan; inexperience, lack of proper book keeping; inability to separate business and family or personal finances, lack of business strategies, inability to distinguish between revenue and profit, inability to procure the right plant and machinery, inability to engage or employ the right caliber of staff and cut-throat competition among others.
Beckman (2002) contends that most of the problems of MEs are external to it. Among them are those related to capital shortage, taxation and regulations, product liability patent and franchising abuses. The internal problems of MEs in Nigeria include: inadequate working capital, stiff competition from larger companies, difficulties in sourcing raw materials, low capacity utilization, lack of management strategies, poor educational background of operators, and huge financial problems while the external problems include: policy inconsistencies and so many others. This study then aims at looking at ways these impediments could be rectified to enable business in Nigeria, especially Enugu metropolis, flourish.
1.3 Objectives of the Study
As a central objective, this study seeks to assess the organizational challenges facing owners of the medium scale enterprises in a recessive business environment. The specific objectives are to:
1.4 Research Questions
From the aforementioned research objectives, the following research questions were formulated
1.5 Research Hypotheses
Based on the above research questions, the following hypothesis were formulated
1.6 Significance of the Study
This study is significant in that it attempts to pinpoint some of challenges facing owners of medium scale enterprise in Enugu metropolis. It has both theoretical and practical significance. Theoretically, the finding of the study will be useful to both students and scholars who wish to advance their knowledge on the challenges facing owners of medium scale business enterprises in Enugu and Nigeria at large. On the other hand, the findings will be of practical significance to the management of Innonson Technical and Industrial Company Limited, and other medium scale business organizations, employees and the government, as it will help them improve their inability to manage those challenges facing them in the organization.
Significantly, the findings are expected to make the sole proprietor to see the need to improve staff strength through employment and development of skilled manpower. This will help them to plan adequately and suggest the need to organize seminars to the general public on the danger of the aforementioned challenges, Adding to the above, it will specifically create an awareness on how the challenges facing the owners of the medium scale enterprises can be managed.
1.7 Scope of the Study
The research work covered the challenges facing the owners of medium scale business enterprises in Enugu Metropolis with special concern to Innonson Technical and Industrial company Limited. Nevertheless, it focused generally on enumerating the challenges and tested ways of averting/managing it.
1.8 Limitations of the Study
The study was limited by the fact that it relied solely on one enterprise and some of the personnel did not volunteer the necessary information. Finally, time available for me was limited when compared to other activities I need to engage myself in the school.
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