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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 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.
The production problems include raw material availability, capacity utilization, and storage problems.* The marketing problems arises because of dealing in only one product, cut throat competition, adopting cost oriented method of pricing, lack of advertisement, not branding their products etc., The financial problems include investment risks, procurement of loan from banks and their repayment, meeting day to day expenses and the like. The labour problems include highly demanding employees, absenteeism lack of skilled workers and transportation of workers. Infrastructure problems also add coal to the fire. Unless and until you have the infrastructure in its place the rest of the efforts are futile. Personal problems like spending less time with family and for the whole sweat exerted the rewards have not been favorable.
Financial constraints, price disadvantages, a lack of marketing and distribution network, and a burden from the government are all disadvantages commonly faced by small-scale industry.
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.
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