Survival Strategies In Small Business

Survival Strategies In Small Business

Abstract

This study was carried out to probe into the Survival Strategies in small Scale Business in. Lagos State( a case study of some named small scale diligence). Information was sought on the conditioning and the performance of the small scale enterprises in Lagos State in the areas of loan accession, marketing exploration, labor force approaches, strategic locales, training and development. The exploration system used for the study was substantially descriptive with the end of carrying primary data on the survival strategies being designed, developed and enforced by the named small scale diligence( i.e. Becco Furniture Enterprises Nigeria Ltd. And Atlas. medicines Company) as well as how these strategies affect each of the association. The sources of data used for the study was primary source( i.e. interviews, questionnaires, observation etc. Secondary source was also used which’ includes libraries, other information centers on office studies etc. The findings of the study was grounded on capital, marketing exploration, training and development, labor force programs and position from the data collected, the exploration concludes that small scale business diligence were unfit to admit loans from fiscal institutions, which has been a failing on the part of the entrepreneurs due to ignorance or lack of collateral demanded. Also most small scale diligence don’t probe on the areas of selling their product or some other promotional conditioning and this affects deals. Training and development also has hindrances to the effective performance of the small scale businesses, since utmost employers don’t train their workers to acquire specialized moxie. The experimenter recommend that since small scale diligence are veritably vital, to our frugality, it’s material that, for an entrepreneur to have effective effective functioning of these small scale diligence in the areas of( capita1 loan accession, marketing exploration, labor force programs, perpetration, training and development and strategic position) he or she must aim primarily towards a long survival of that business by enforcing on the strategies and programs counterplotted out grounded on the over stated areas. The recommendation grounded on capital is that, since government has set up numerous institutions to help in furnishing demanded capital, the entrepreneurs should endeavour to use these openings and acquire the demanded capital/ loan installations. On training and development, the experimenter recommends that acceptable training and development of workers should be embarked upon so as to acquire the necessary chops demanded for effective operations.