The ABC of the Small and Medium Scale Enterprise Development in Nigeria

Abstract

The challenges of Small and Medium scale Enterprises (SMEs) are universal all over the world. In Nigeria, we have this peculiar problem of how to start and manage SMEs. This paper, using secondary sources, tries to x-ray the different steps necessary in setting up SMEs. It also tried to assess the role played by the SMEs in Nigeria’s economic development and finally highlight some of the factors that militate against the effective contribution of the enterprises towards national development. The paper concludes by noting that the health and viability of the SMEs is the cornerstone upon which the future transformation of Nigerian economy can be anchored.