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Why Small Scale Businesses Failed as a Remedy to unemployment problem in Nigeria
IOSR Journal of Humanities and Social Science
SME or small scale business is described as the engine for rapid growth due to its numerous benefits such as employment generation and contribution to the GDP. In Nigeria, SMEs defined as any enterprise with a maximum assets of N500 million ($4.2 million) excluding land and working capital with the number of staff not less than 10 or more than 300 (IFC, 2001). Some 98% of businesses in Nigeria are small-mediumsize enterprise. SMEs are the engines of economic growth worldwide. The impact of SMEsdoi:10.9790/0837-0845661 fatcat:2wxrdlmztnfxpaixnfn7pb5k4m