CAUSES OF FAILURE OF SMAL-SCALE INDUSTRIES IN NIGERIA

( A CASE STUDY OF ENUGU STATE )

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CHAPTER ONE

 

• INTRODUCTION

Whenever a business fails, we tend to point at different type

of internal reasons like failure of major products, a bad investment decision, structural rigidity or management incompetence or the root cause, business failure could also result from external factor like competition, change in government regulations, scarcity of raw materials etc. Whatever may be the reasons, it is relevant for manager to get to know them with a view to optimizing then for their company advantage.

Apart from the general know reasons, some factors are peculiar to some organizations and entrepreneurs; some of these are most times environment-driven.  The ability of organization to prevent such failure depend on whether management align and see the factors in the context of their business strategy, hence there could be full optimization of their respective risks.  Such factors among others include the following:

Failure to change and adopt due to past success.  It is a wrong action for anyone to describe his organization or business as failure – proof no matter what the level of the past achievement was.  Most of the business that collapse in the recent times are dose we have described as excellent in the past.  They have failed not because they lack the strength to sustain success but due to their insentivity to changes around them and therefore get trapped by their past success.

Let us take a walk around some industries estate in Nigeria especially in Enugu, Kano, Aba, Lagos and Ibadan, one would find several of these organization that have won different performance awards in the past but are no longer doing well today.  This is an unfortunate consequence of their rigidity and management styles.

Whenever an organization losses touch with it’s environment, it becomes less sensitive to competitive demand, thereby operating in an imagined environment.  Enron and double A of united state are good example of such organization.  For instance, when we are yound, we heard of the financial myth and strength of organization i.e. Dommo, AG Leventis, UTC, UAC, CFAD, Odutola Industry, Adebowale Industry etc.  But today, not many of these organization can compete favorably with international counterparts, their positive past performance seems to be a major stumbling block in their process of strategic re-orientation.

It is not worthy to mention that most successful business set up today may collapse in future going by their style and management attitude to strategic failure.

To understand why their success today may bread failure tomorrow, because they may need to look at how the organization are using their success.  It is suppose to be a learning experience for future growth, but they have programmed their organizational successful strategies to attract no further success.

During successful business period, some orgnaisaiton create some expensive culture, norms and belief that may turn the organizations resistant to future change the culture also reduces their flexibility to respond to competitive change.

 

1.1     BACKGROUND OF STUDY

It is good to imagine than experience, it was said that one of the greatest concern in the present time, for both management practioners and entrepreneurs is the rate at which businesses collapse.

Additionally, it was stressed that most business  owners that find themselves in one financial problem or the other, today have been noted to have no adequate knowledge of risks facing their businesses.

It was also emphasized that no matter how brilliant an entrepreneur may be, once the internal reporting system of the business fail to report an inherent risk that can impair the business, such a business may possibly suffer some kinds of failure in future.

 

WHY SHOULD ENTERPRENEURS KNOW ABOUT IT?

This is because many enterprises have failed.  It is dangerous for any entrepreneur or management to ignore why they have failed.  Just as we learn about our failure and mistakes inbusiness, it is a good management strategy to learn from those business that have failed.  This is why a manager of business should learn about corporate and failure

This research work is to highlight the problems that are being faced by small-scale industries in Nigeria, which eventually lead to their massive failure.  The research work comprises three main chapters.  In chapter one, the researcher in the introduction examine problems identifiable, aims and objectives, limitation of study and finally, definition of the term.

In chapter two, attention of readers where drawn to note the writer, scholars and so many experienced industrialists in the field of this study (causes of failure of small-scale industries in Nigeria.

Finally, in chapter 3, it summarized and concluded on the research and recommendations made.

 

 

 

 

• STATEMENT OF THE PROBLEM

My research work reveled that the continuous failure of

small-scale industries negates the struggle by the government to revamption of the economy.  The effects of this on the economy are – food scarcity unemployment, increase in social ills, adverse balance of payment position experience by the country reduction in per capital income etc.  These problems if not adequat