SMALL SCALE ENTERPRISES AND THEIR CONTRIBUTIONS TO SOCIO-ECONOMIC DEVELOPMENT IN ASABA, DELTA STATE, NIGERIA

Abstract

This study examined small scale enterprises and their contributions to socio-economic development in Asaba, Delta State, Nigeria. No doubt, like in Nigeria as a whole, the contribution of small-scale enterprises to socio-economic development in Asaba, Delta State is a significant issue that requires attention. Despite the importance of small-scale enterprises in driving economic growth and development, it is safe to infer that small scale enterprises in Asaba face numerous challenges that hinder their ability to contribute effectively to socio-economic development such as limited access to finance, inadequate infrastructure, and a lack of skilled manpower, among others. To guide the study, three research objectives and hypotheses were formulated. This in effect enabled the researcher to draw up the questionnaire used in the collection of data for the study. This study adopted the cross sectional research design using the survey method to obtain relevant information from fifty (50) respondents drawn from the population of the study, using the research questionnaire. Data collected was analysed using simple percentage and chi-square statistical tools and came out with the following findings; there is significant relationship between small scale enterprises and socio-economic development, there is significant relationship between small scale enterprises and employment generation as well as there is significant relationship between small scale enterprises and reduction of poverty levels in Asaba, Delta State. From the findings ascertained, the researcher recommends that; the Delta State Government should continue to support small-scale enterprises by providing accessible funding options, such as the N1 billion SME fund with single-digit interest rates, to boost local economic growth and empower small businesses, the government should prioritize infrastructure development, including power supply, road networks, and telecommunication facilities, to create an enabling environment for small-scale enterprises to thrive among others.