A Research Work On The Role Of Small Scale Industries In Economic Diversification.

ABSTRACT

Small Scale Industries all over the world have been the engine room for viable economic growth and development. In the light of the above, this research work identifies the role of small scale industries (SSI) in the growth of the nation's economy. Various related literatures were reviewed from which it was noticed that Small scale Industries are central to the growth of the nation’s economy. This is evident in the policies created by government to accelerate the development of small scale industries through the establishment of agencies like DFRRI, NDE, NAPEP NERFUND SMIEIS SMEDAN etc. In the course of this research, it can be concluded that SSIs are a sine qua non for economic growth. From the conclusion made above, this research wish to recommend that government should create the enabling environment for the growth of small scale industries such as macroeconomic stability, reduction in fiscal imbalances, stability in exchange rate, increasing small scale industries access to credit facilities etc. also, favorable policies should be made so as to promote other infant industries in their strive for good standing so as to eradicate the evils of unemployment.