SMALL AND MEDIUM SCALE ENTERPRISES (SMEs): A PANACEA FOR ECONOMIC GROWTH IN NIGERIA

Rasak Bamidele

Department of Sociology and Psychology

Fountain University, Osogbo,Osun State

ABSTRACT

The emergence of small and medium scale enterprises (SMEs) is a major catalyst and a key success factor for the development, growth and sustenance of the Nigerian economy. Most government and business circles have come to recognize the importance of small and  medium scale enterprises (SMEs) and have consequently agreed that their growth constitutes one of the corner stones of economic developmen., It is on the basis of this that the study of financing of small and medium scale enterprises (SMEs) in Amuwo Odofin Local Government of Lagos state  is being embarked upon. The study also examines how government and other agencies finance SMEs in Amuwo Odofin Local Government area of Lagos State.. The study was guided by network theory. The major concern of the theory is the objective pattern of ties linking the agencies, individual and group of the society. The agencies in this study include banks, cooperative societies, and government, among others.Quatitative and qualitative method was used to collect data for the study. Fifty(50) samples of respondents were selected from the Local Government Area. The data gathered was analyzed using descriptive statistics such as frequency distribution, while the  qualitative data was subjected to content and descriptive analysis.

Key words: Small and Medium Scale Enterprises, micro and macro structures, agencies and Economy development.