IMPACT OF SMALL AND MEDIUM ENTERPRISES ON ECONOMIC DEVELOPMENT IN NIGERIA (A CASE STUDY OF SOME SELECTED SMES IN OWERRI)
This study, the impact of small and medium scale enterprises on economic development in Nigeria (a study of some selected SMEs in Owerri) as information is the life wire of any business organization, so in human resources planning, the blood of any organization. The study used survey design method, the population of study consists of 200 staff of the selected organization (a study of some selected SMEs in Owerri) and Yaro Yamen formula was used to determine the sample size both primary and secondary sources of data were used which resulted to fourteen (14) questionnaires and the research questions were analyzed with simple percentage and frequency table. The major finding was that proper human resources planning play, a vital role in the growth of every organization. It was concluded that every organization must meet up with their manpower planning in other to efficiently and effectively achieve its goals and objectives it was recommended that organization, should attach great motivations to their employees to enable them achieve corporate objectives.
1.1 BACKGROUND OF THE STUDY
After about a decade and a half, the adopting an industrialization strategy based on large scale industries mostly of the assembly type, Nigeria has achieved only a fragile industrial development. A little after independence, some small scale industries could not really continue to exist let along flourish due to the fact that they were either swallowed up by the larger one or by foreign firm. The large scale industries which were set up tended it be capital intensive which were set up traded to the capital intensive and inappropriate given the country’s resource endowment their capital equipment and technical manpower has continued to be largely imported. As a result, the triple objective of salting up the plant achieved up it 20 percent in local raw material sourcing, instead they are more or less systematic foreign exchange puzzlers with neither the will nor the capacity. A transfer of any meaningful technology beyond the primitive type.