SMALL BUSINESS AND CORPORATE SOCIAL RESPONSIBILITY (CSR) IN NIGERIA: A PERSPECTIVE
Umeora Chinweobo Emmanuel*
Department of Banking and Finance
Anambra State University, Igbariam Campus.
E-mail: ceumeora@yahoo.com
ABSTRACT
The Small Business sector is now in most economies of the world regarded as the engine of growth. This belief is hinged on the fact that in all economies, a large segment of the population is self-employed. In the US, it is said that some 65% of business are small scale. In Nigeria a greater percent belongs to this sector. For this reason since the exit of Military rule, subsequent civilian governments want to give up active participation in business. The policy is now to allow the private sector, small business sectors to drive the economy. The Government wants to limit its role to provision of infrastructure and enabling environment for the private sector to thrive. The concept of Corporate Social Responsibility (CSR) surfaced in the past few decades following the development of Business Ethics. It is the belief that businesses most contribute to the welfare of the society where they operate. CRS has attracted the attention of Large Organizations. Few studies carried out in the performance of small businesses in the area of CSR have shown that they have not sufficient capital to engage in CSR. This paper has been based mainly on collection and commentary on secondary information Literature search points to the fact that studies in this area have remained subjective and non-parametric. This study points to the fact that CSR is not limited to philanthropy. Small businesses have a lot to contribute apart from philanthropy which they lack financial resources to engage in. but they can take a wider view of stakeholders. They can provide employment to people around them. They can also avoid negative behaviour and do not produce or import substandard goods. They can also try to avoid tax evasion and pay appropriate taxes as part of their CSR.
Keywords: Small business, Corporate Social Responsibility (CSR), economic growth/development, philanthropy, stakeholders.