CHAPTER ONE
1.0 INTRODUCTION
The dynamic role of small-scale business as an engine of growth in developing countries has long been recognized. It acceleration effect in achieving macro object, such as full employment, income distribution and development of local technology as well as diffusion of management skills and stimulation of indigenous entrepreneurship have been well documented in economic literature. In Nigeria, the small-scale business sub-sector has been expanding, especially since the mid-1980s following the introduction of SAP which forced many large enterprises to lay-off large proportions of their work force. The sector account for about 70% of industrial employment, chains World Bank (1995).
The thrust of this research is to review the experiences of other countries in economic growth and development through small-scale business and proffer a way forward for Nigeria.
One major lesson Nigeria has learnt is putting the private sector at the centre of growth, while the government concentrates on what t is best suited to do. Creating the right environment for business to thrive.
This should translate into faster and make stable growth.
This sector offers the best promise of sustainable economic growth to any nation because of its inherent ability to:
a.    Tap into people's capacity for creativity and resourcefulness.
b.    Achieve higher managerial efficiency and wealth creation.
c.    Strike reasonable balance between risks and returns in virtually all cases of resource deployments.
d.    Create employment, especially at a time when the public sector in most African countries s downsizing.
e.    The wrong attitude of government business is nobody business has no place in the private sector.
1.1     IDENTIFICATION OF PROBLEMS
I found out the Nigeria has been having the problem relating to poor standard of living of the people for the past years ago with clear observation, the economic recession that had lead to depression of growth and development is partly due to any factor, like lack of qualified personnel, modern technology etc. and also lack of effective institutional framework to promote and develop small-scale enterprises n Nigeria and inherent in consistently of government policies towards promotion and developing small-scale enterprises are attributable to poverty situation in Nigeria.
I also discovered that before the structural adjustment policy programmes of the Federal government, there has been so much unemployment to the extent that the large population so much dependent on import substitution industries which are based on a large scale.
Thus, I believe my contribution is necessary by focusing my attention to this important areas looking more promotion and development.
It is the view that dragged me to up an idea of researching on the role of small-scale enterprises in economic growth and development in Nigeria that I found out that above problem are the cases of setback in small-scale enterprises, which is adversely affecting the growth and development in Nigeria.
CHALLENGES/CONSTRAINTS     OF     FUNDING     SOME     IN NIGERIA
1.    Insufficient personal  saving/funds  resulting  /  one  low  initial promoter equity.
2.    Uncoordinated business ideas and plans.
3.    Non bankable project by entrepreneurs.
4.    Inability of the customers (SMEs) to  satisfy high credit risk standards, including collateral security.
5.    Inability of banks to provide long-term funds due to mismatch between tenor of bank deposits and loans being sought.
6.    Fluctuating and prohibitive interest rate regime and
7.    Volatile exchange rate  regime.   The main concern achieving sustainable development and improved living conditions for the citizens Nigeria a late starter because of excessive driving favour, various man- made disasters. A few natural disasters (in relative terms). This makes globalization looks more like a threat than an opportunity but there s an advantage of learning from the mistakes as well as the good and tested strategies of early starters.