The Contribution of Industrial Development Centre Enugu to Small Scale Industries

Anonymous User Umude Onoriode Chukuneku 51 PAGES (13288 WORDS) Project
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BACKGROUND OF THE STUDY

The goal or desire of any nation is to achieve its economic growth and development. For the Nigeria government, employment provision for all and reasonable development of all localities are certainly not feasible within the limited government structures and establishment. The federal government therefore considers the active participation of the private sector especially at the grass root as the most viable means of achieving the development and job provisions. Hence, in its second and third national development plan, the federal government adopted the policy of giving active support to the promotion and development of small and medium enterprises on the country.

However, are would want to know what entrepreneurial development is all about. According to some writers, especially in the written work of H.O. Amaechina “entrepreneurship concept of small business management”, entrepreneur. So defined as the willingness and ability of an individual to seek out investment opportunities, establish and run the enterprise successfully. Thus entrepreneurship is associated with different kinds of activities that has to do with the establishment and operation of business enterprises. Such activities may include;   

i)     Identification of investment opportunities.

ii)    Deciding what opportunities to exploit for profit.

iii)   Promotion and establishment of the business enterprises.

iv)  Pooling of the various scarce resources needed for production and distribution of good and services.

v)    Organisation and management of the human and material resources for the attainment of the objectives of the enterprise, risk bearing and innovation.

On the other hand, entrepreneurial development can be described as the varied programme, and incentives provided by governments and non-governmental agencies aimed at training, promoting and encouraging entrepreneurs toward the attainment of maximum economic returns in any business ventures they embark on.

The importance of entrepreneurial development in the economy aids entrepreneurs to identify a profitability business and how to go about it. It makes the entrepreneur to be aware of how to locate a business. it creates awareness on the area of location and if it can affect their business. Infact, entrepreneurial development helps to avoid business failures.

The small business supports system such as National Directorate of Employment (NDE), Nigeria Bank for Commerce and Industry (NBCI), National Economic Reconstruction Fund (NERFUND), and Industrial Development Centre (IDC) are all set up to aid small scale business in the areas of finding development of managerial and technical skills.

Industrial Development Center as one of the small business support systems is set to provide technical services such as;

1     Technical advice and assistance regarding the selection of the right machinery, equipment and raw materials for the purpose of setting up the business.

2     Assistance in the installation and operation of the machinery.

3     On the job training of the artisans in handling of the machines.

4     Giving advice an assistance to small industrialists to improve the design and quality of their products. 

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APA

Anonymous, U (2020). The Contribution of Industrial Development Centre Enugu to Small Scale Industries. Afribary.com: Retrieved November 25, 2020, from https://afribary.com/works/the-contribution-of-industrial-development-centre-enugu-to-small-scale-industries

MLA 8th

User, Anonymous. "The Contribution of Industrial Development Centre Enugu to Small Scale Industries" Afribary.com. Afribary.com, 08 Sep. 2020, https://afribary.com/works/the-contribution-of-industrial-development-centre-enugu-to-small-scale-industries . Accessed 25 Nov. 2020.

MLA7

User, Anonymous. "The Contribution of Industrial Development Centre Enugu to Small Scale Industries". Afribary.com, Afribary.com, 08 Sep. 2020. Web. 25 Nov. 2020. < https://afribary.com/works/the-contribution-of-industrial-development-centre-enugu-to-small-scale-industries >.

Chicago

User, Anonymous. "The Contribution of Industrial Development Centre Enugu to Small Scale Industries" Afribary.com (2020). Accessed November 25, 2020. https://afribary.com/works/the-contribution-of-industrial-development-centre-enugu-to-small-scale-industries