1.1 BACKGROUND OF THE STUDY
The contribution of small –scale Business in fostering economic growth and development has been well articulated in different areas of this study .the specific attention on them based on their expected impact and potential contribution on broad and diversified production base, as well as their accelerative effect in achieving macro objectives pertaining to full employment, income distribution and the development of local technology. They are particularly most conducive for diffusion of management skills and emulation of indigenous entrepreneurship overtime.
Small business provides financial opportunity and a chance to develop wealth. It is a place where creative, motivated individuals can use their talents and expertise to the fullest, because it provides satisfying careers and job opportunities and it’s also the back bone of the market econ starts as a Small Business, and it started with an entrepreneur (small business), who at first, earns little or no profit. It was the new ideas of small business that brought about Ekene Dili Chukwu Transport, the parts, and even the many commercial banks in Nigeria. Untried ideas become annulations that become concepts that changed the business world. And so it goes. Small business is the basis for the economic well being many developed nations including USA/Japan.
Entrepreneurship is what makes a small business successful. Entrepreneurship occurs when an individual develops a new venture, a new approach to an old business or idea, or a unique way of giving the market place a product or service by using resources in a new way under conditions of risk. Small business triumphs and entrepreneurship are closely related to it. It is difficult to separate them.
