Abstract
This study examined the impact of socio-economic characteristics on the performance of small-scale enterprises in the study area. It also identified the salient impacts of socio-economic traits on the development and expansion of small-scale enterprises in the country; established the productive prospects of progressive small-scale enterprises in the study area. The study was carried out in Osogbo, Osun State, Nigeria where copies of structured questionnaire were purposively administered on selected respondents. Evidence from the study shows that socio-economic characteristics of small scale entrepreneurs tend to influence the performance and productivity of Small Scale Enterprises in Nigeria.Further analysis shows that gender, age and educational qualification had significant influence on the performance of the selected small-scale enterprises in the study area . The paper suggests integrated approach to the development of individual entrepreneurial capacity and promotion of sustainable small-scale enterprises.
Highlights
Among others, Nigeria, one of the major oil producing countries in the world was recent classified to be one of the poorest countries
The main objective of this study is to show the impact of the socio-economic factors on small-scale enterprises in Nigeria
7.1Survey findings of Socio-economic factors influencing the Small- Scale Industries: The socio-economic characteristics of small scale industrialists are analyzed in terms of their gender, age structure, educational background, occupational categories and income level.The observed socio-economic characteristics of respondents, which were considered for the study, are presented below: The gender breakdown or sex characteristics of the respondents’ show that 65.7% were male while 34.3% were female
Summary
Nigeria, one of the major oil producing countries in the world was recent classified to be one of the poorest countries. World Bank (2000) stated that the poverty has increased dramatically with 65% of the population living below the poverty line as against 43% in 1992. It has been observed that there is no country in Africa whose deterioration in socio-economic status has been as severe as that of Nigeria, to the extent that within the last five years, half of the population is living below the poverty line (World Bank, 2000). The socio-economic status of the country has considerably affected the development and improvement of certain sectors. Recent times have witnessed a number of strategies, and activities like sharply expanded programmes, techniques and innovations in agricultural programmes in Nigeria in order to address the deteriorating socio-economic situation. Identifying and supporting the activities of potential and existing entrepreneurs has become a major concern for an increasing number of governments in developed and developing countries. Public policies are designed in developing countries to increase the pool of
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