THE ROLE OF SMALL AND MEDIUM ENTERPRISES (SMEs) IN NATIONAL DEVELOPMENT
Abstract
Small and Medium Enterprises can be seen as the fuel and engine of the entrepreneurial spirit and economic growth/ development of a nation. Hardly can any nation develop devoid of the services and latent contributions of the SMEs. This paper discussed the roles these SMEs play in the development of Nigerian economy. The paper looked at the concepts of SMEs and national development, characteristics of SMEs and indices of national development. The paper also dwelt on the roles of
SMEs being the gamut of the study and observed that SMEs provide an effective means of stimulating indigenous entrepreneurship, enhancing greater employment opportunities per unit of capital invested, aiding the development of local technology and so on. Finally, conclusion was
drawn and recommendations made such as government should encourage the establishment and growth of SMEs in Nigeria by giving them deserved assistance as regards fund raising among others.
Keywords: SMEs, Economy, Development, Growth.
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