Impact of SMEs Development of Youth Empowerment in Nigeria

The impact of small and medium scale enterprises development of youth empowerment in
Nigeria
Name of the Student
Name of the University

Table of Contents
1. Introduction..................................................................................................................................3
1.1 Background............................................................................................................................3
1.2 Problem statement.................................................................................................................4
1.3 Aim, Objective and Research questions................................................................................4
1.4 Hypotheses.............................................................................................................................5
2. Literature Review........................................................................................................................6
2.1 Concept of Small Enterprise Innovation................................................................................6
2.2 Concept of Youth Empowerment..........................................................................................7
2.3 Impact of SME development on Youth empowerment.........................................................8
2.4 Government Contributions towards financing of SME in Nigeria........................................9
3. Research Methodology..............................................................................................................12
References......................................................................................................................................16

1. Introduction
1.1 Background
Small and medium enterprises (SMEs) have been playing an important role in the development if
the economic structure of a country. Various developing countries including Nigeria has been
depending on development of SMEs in the market. SMEs have been helping in confronting
several issue of poverty and jobless situation in Nigeria. As commented by Ogbondah and
Nwogu (2017), the adoption of Economic reform program in Nigeria in 1981 has focused on the
development of the SMEs in the country. Social and economic development of the country has
been depended on the development of SMEs in the market. The development of a country can be
measured by income per capital, equitable distribution of income, the welfare and quality of
enjoyed by the citizen of nation. SME has proved to be a major tool for attaining socio-economic
development. The unemployment rate in Nigeria has been 23.1 % which has raised from 18.1 in
previous year (Adebayo 2016). Therefore, this has been a critical facts for the development of
the country in the market. Government has been unable to recruit proper manpower and
adequate equipment for aiding extension services for placing support for SMEs. The
development centers have not been endowed with adequate manpower for carrying out technical
appraisal of applications for loans and other equities. Rural areas have been facing connectivity
issues due to improper supervision. The GDP of the country has been going done by 1.86% from
last year (Egbefo and Abe 2017). Therefore, development of SMEs has become a debatable topic
for researchers. This research will focus on factors that are affecting unemployment in Nigeria
and how development of SMEs will; help in youth empowerment in Nigeria.

1.2 Problem statement
The main problem in Nigeria is increase of unemeployment in various sectors. Youths have been
jobless and unemployed beyond formal education background. There have been less industries in
Nigeria and other governmental issues in the country which have been affecting employment
sector of the country (Fagbemi and Olaoye 2016). Therefore, this research will recommend that
youths education and innovation programs need to be acknowledged for developing employment
sector in Nigeria. The youth empowerment will be the main theme of the research. Youth
empowerment has been identified that would create economic development in Nigeria.
1.3 Aim, Objective and Research questions
The aim of the research is to examine impact of SMEs development on youth empowerment in
Nigeria.
Following are objectives:
 To assess how SMEs development affect employment among youth in Nigeria
 To investigate support from government to SMEs in Nigeria
 To analyze efficacy sufficiency of youths empowerment through SME development
initiatives in Nigeria
Following are research questions:
 How can SME development affect employment among youth in Nigeria?
 How government has been providing support to SME development in Nigeria?
 What is the relationship between SME development and youth empowerment in Nigeria?