Appendix (48 - 61 p.)

References (44 - 47 p.)

'The industrial landscape of the Nigerian economy is highly dominated by the small and medium scale enterprises. This explains the growing importance attached to policy formulation and implementation strategies embarked upon by the various governments towards the development and growth of the small and medium enterprises sub - sector. The study was designed to address the financing of industrial development in Nigeria and with particular emphasis on the Small and Medium Enterprises (SMEs) sub - sector in Kwara State. Hence, the ownership structure, entrepreneur's capacity development, sub - sector type of the SME, source of start - up (seed) capital, source(s) of business/ financial information and membership of business/trade organization formed the core indices that were examined. Using the survey method of research, a structured questionnaire with three inter - related sections was administered on a sample of 170 Small and Medium Enterprises in Kwara State. The sample was pre - selected on the basis of the data obtained from agencies relevant to the operations and existence of the Small and Medium Enterprises. The analysis of the data collected including the testing of the hypotheses were carried out using simple descriptive statistical tools and the chi - square method of analysis. The major findings of the study concluded that the ownership structure, entrepreneur's capacity development level. Small and Medium Enterprises sub - sector type, source of seed capital, source(s) of business/ financial information and the membership of trade/ business organization significantly affect the financing of Small and Medium Enterprises in Kwara State. The sole proprietorship type of ownership, low capacity development of entrepreneurs, low size of annual revenue and emphasis placed on Small and Medium Enterprises sub - sector type constituted a clog in the financing of the SMEs cum industrialization process in Kwara State. Also, the resource to owner's savings as a source of seed capital, usage of unreliable information source(s) and the non - membership of business/trade organizations by SMEs greatly impaired their financing. The following recommendations which emanated from the study, suggested that the government and other relevant agencies should coordinate their efforts at the finance (by way of equity) to the SMEs, streamline their activities in the capacity building process, adopt and implement measures in SME financing and implement industry specific measures that will solve the problem of low revenue accruing to the SMEs. It was also recommended that the relevant agencies should take steps towards seed capital formation by building on indigenous systems and capacities of entrepreneurial development and growth, evolve and implement policies to ease the collection and dissemination of information and promote the incentive/policies that accentuate the formation of SME clusters into virile organizations while encouraging inter - organizational linkages and efficiency. Although this study has provided some insight on critical factors that enhance or militate against the positive contributions of the SME in the industrialization process of Kwara State, further investigations into sub - sector heterogeneity with respect to the financing of industrial development through the Small and Medium Enterprises was also recommended. Keywords: Small and Medium Scale Enterprises, Industrialization, Finance, Entrepreneur, Sub - sector, Underemployment, Unemployment, Credit Schemes, Loans, Financial Institutes, Chi - square, Population, Sample Size, Kwara State, Nigeria. '

1 CHAPTER 1

1 INTRODUCTION

1 Background Information

2 Objectives of the Study

3 Significance of the Study

4 Scope of the Study

4 Research Hypothesis

6 CHAPTER 2

6 LITERATURE REVIEW

6 Introduction

6 The Definition of Small and Medium Enterprise

6 The Importanceof Small and Medium Enterprise in the Industrial Dvelopment of a Nation

10 Small and Medium Scale Enterprise in Nigeria

12 Credit Financing Schemes

16 Technical/Managerial Development

17 Policy Frameeork to Support SMEs

18 Problem of SMEs in Nigeria

20 CHAPTER 3

20 RESEARCH METHODOLOGY

20 Introduction

20 Brief Description of Kwara State

20 Population and Sample Size

21 Methods of Data Collection

22 Methods of Data Analysis

24 CHAPTER 4

24 DATA PRESENTAION AND ANALYSIS

24 Introduction

24 Data Presentaion and Data Analysis

32 Testing of Hypothesis

38 SUMMARY,CONCLUSION,LIMITATION AND RECCOMENDATION

36 Discussion and Findings

38 CHAPTER 5

38 SUMMARY, CONCLUSION,LIMITATION, AND RCOMMENDATIONS

38 Introduction

38 Summary of Findings

40 Conclusion

40 Reccommendations

42 Contribution of the Study to Knowledge

44 REFERENCES

48 APPENDICES