The Influence Of Financial Management On The Growth Of Small And Medium Scale Industries

CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF STUDY Small and Medium Industries (SMIs) have been widely acknowledged as the springboard for sustainable economic development. According to UNDP (1974), developing countries including Nigeria, have since the 1970s shown increased interest in the promotion of small and medium scale enterprises for three main reasons: the failure of past industrial policies to generate efficient self-sustaining growth; increased emphasis on self-reliant approach to development and the recognition that dynamic and growing SMIs can contribute substantially to a wide r…