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Title: Obstacles to the development of small scale business enterprises: A challenge to wealth creation in Nigeria
Authors: Igbinedion, V. I.
Ugiagbe, F. E. S
Issue Date: 2011
Publisher: Journal of Education, Health, Environment and Technology Research (NJEHETR). An official Journal of the Association for the Promotion of Education, Health, Environment and Technology Research (APREHETR)
Series/Report no.: 1;1
Abstract: This paper elicits some major obstacles to small-scale business enterprises which are currently a challenge to wealth creation in Nigeria. Therefore, the roots of wealth creation should grow from the effective utilization of human and material resources available in an economy that would eventually determine small-scale, medium scale and large-scale business enterprises and industrialization. It adds that for a rapid growth of small-scale businesses in the Nigerian economy, all tiers of government would have to set the stage for a proper reorientation and utilization of the human and material resources which the country is blessed with towards youth and adult empowerment. Problems like: wrong orientation of children from infancy, problems of winds of change in the environment, wide-scale corruption, competition from expatriate businesses, among others, should be minimized so as to create the enabling environment for wealth creation to develop, otherwise, the Nigerian economy would continue to be a consumer of foreign goods and their technologies to the detriment of youth and adult empowerment of the Nigerian workforce.
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