CHALLENGES ENCOUNTERED BY ENTERPRENUER IN SETTING UP A SMALL SCALE BUSINESS.

CHAPTER ONE                       

INTRODUCTION

Background of the study

There exist lots and lots of business ventures that are being engaged by individuals, group of people or association, firms, industries and government with the main aim of maximizing profits. They range from small scale to medium and large scale. In the Nigerian economy, the small scale enterprises are the most common form of business. The aim of any economy (either industrialized or non industrialized) depends largely on how well organized the small industries are, for instance if we look at the standard of practice of small scale industries in economically developed countries. The small scale enterprise in Nigeria seems too stagnant, less adventurous than developed countries. Meanwhile in economically developed countries small scale business are better organized and coordinated than in the developing countries because the governments appreciate their significance to the national economy.

       In the hospitality industry there are more small scale businesses than the medium and large. Most of the small scale hospitality businesses are essentially one person’s operation which makes such companies sole proprietorship business ventures. The profit of the business is reaped solely by the owner; this includes people or an individual who wants to invest in that type of business. It is also the easiest form of business ownership to organize in the hospitality industry because there is relatively small capital to use for setting up small scale hospitality business.

RELATED PROJECT  PERCEPTIONS OF BUSINESS EDUCATION STUDENTS ON THE RELEVANCE OF ENTREPRENEURSHIP EDUCATION AT THE COLLEGES OF EDUCATION LEVEL

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