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Prospects and Challenges of Managing Small Scale Manufacturing Businesses in Enugu East Senatorial Zone, Enugu State Nigeria

Journal: THE INTERNATIONAL JOURNAL OF BUSINESS MANAGEMENT AND TECHNOLOGY (Vol.4, No. 4)

Publication Date:

Authors : ; ;

Page : 09-154

Keywords : sSmall Business; Management; Finance; Enugu East Senatorial Zone;

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Abstract

The study analysed the prospects and challenges of managing small-scale manufacturing businesses in Enugu East Senatorial zone of Enugu State, Nigeria. The objectives were to examine the effect of poor planning on the management of smallscale manufacturing businesses, as well as investigate the effect of lack of finance on small-scale manufacturing enterprises. The study adopted the survey design. The population consists of thirty-nine (39) employees and management in specific businesses (vegetable oil and paint manufacturing) which were purposely selected and considered to be the sample. Primary data were used for this study and they were sourced through administration of structured questionnaire designed on a five-point Likert scale. The data collected were analysed using descriptive statistics while the hypotheses were tested with ordinal logistic regression using Statistical Package for Social Sciences (SPSS) version 20. The finding of the study showed that poor planning negatively affected the management of small-scale manufacturing business. Also, result revealed that lack of finance negatively affected small scale manufacturing enterprises. Thus, it was recommended that government and non- government organizations should endeavour to organize periodic training for small scale manufacturing business owners and managers as a way of mentoring them in proper management and improving their sustainability and contribution to the national economy. More so, financial institutions are encouraged to advance soft loan to small entrepreneurs at a low rate of interest for sustainable development of small enterprises into medium/large enterprises.

Last modified: 2023-01-31 15:58:28