The problems of small scale industries in Nigeria include corruption, insecurity and poor infrastructure. The prospects on the other hand include engaging foreign traders in business so as to grow the economy.
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Source of finance for small scale business can be raise through 1. From family. 2. From friends 3. From cooperatives society 4. Loans from the bank... Nigeria has introduced some sectoral policies to strengthen the growth of SMEs in Nigeria. Some of the policies active there are Concessionary financing, Small and Medium Industries Equity Investments Scheme(SMIEIS) to encourage the growth of small and medium scale industries. In Nigeria, the National Council of Industry, under the Federal Ministry of Industries, periodically revises the classification of SMEs. Other institutions, such as the Central Bank of Nigeria and the Nigerian Association of Small Scale Industries(NASSI) promote the growth of small industries.
Adeseun Ogundoyin has written: 'The development of medium scale Manufacturing industries in Nigeria'
The meaning of medium scale industries is industries that are in-between large scale and small scale industries. These are average industries that have a higher production capacity that small scale industries but lower than large scale industries.
The difference between large scale industries, medium scale industries and small scale industries is found in three areas. It depends on the number of employees each industry employs, the amount of capital that was invested and the availability of the company's assets.
limitations of small scale industries
Small scale industries may lack the expertise and knowledge to keep accounting records in accordance with accepted standards. This could lead to legal trouble.
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what are the problem of small scale industries in india?
large scale industries are type of industries in which very large amount of production & manufacturing can be done....
The industries which are organised on a small scale and produce goods with the help of small machines,hired labour and power are called as small scale industries
Classification of industries on the basis of size........... On the basis of size 3 types of industries are there:- 1.Small scale industry 2.Medium scale industry 3.Large scale industry -mohit malviya VIII-'D' SICA.S.S.SCHOOL