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XCXCC

Developing countries, particularly Nigeria, struggle with industrialization due to a lack of focus on small scale enterprises. The researcher emphasizes the need for creating economic linkages and prioritizing domestic input production to enhance industrial growth. Current economic constraints may inadvertently benefit small scale industries by encouraging local sourcing and manufacturing.

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1K views1 page

XCXCC

Developing countries, particularly Nigeria, struggle with industrialization due to a lack of focus on small scale enterprises. The researcher emphasizes the need for creating economic linkages and prioritizing domestic input production to enhance industrial growth. Current economic constraints may inadvertently benefit small scale industries by encouraging local sourcing and manufacturing.

Uploaded by

ANYI
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
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of development strategies.

However, many developing countries have failed to


adopt these strategies owing to their belief that it is a relatively slow process of
industrialization. Without the development of small scale enterprises in
Nigeria, the nation’s quest for industrialization will certainly remain forever at
a slow pace. It is the humble opinion of the researcher that futher development
on our business enterprises must add to the basic issue of creating linkage
within the economy to begin to yield real inputs to our economic activities.
Priority attention must therefore be given to those business enterprises for
which domestic inputs could easily produced. The objective should be to
maximize the value added in their processing and manufacturing as final strong
producer incentive to small scale enterprises are necessary not only to meet the
food requirement but also to promote growing input supplier industrial growth.
The present economy constraints may well turn out to be a blessing in disguise
to our small scale industry effort particulary for the dynamic manufacturing
sector. For instance, the market determine exchange rate through foriegh
exchange market with its resultant high cost of imported inputs may serve as
impetus for industrialist to intensity their search for loan

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