ABSTRACT

An important feature of the Nigerian economy is imbalance in the spatial distribution of natural resources, basic infrastructure and economic institution. In order to foster development, some less development attempts to have started making conscious attempts to encourage deferent part of their territories to tap adequate resources which nature provide. Throughout it history, shall scale enterprise has been one of the major wheels of economic development in almost all economic of the world from the simple money changing transaction of the Jews in Italy to the middle age goldsmith in England who were regarded as real revolution and up to the present day, complex arrangements of financing of small and medium scale enterprise and the importance of it in any economy cannot be overemphasized. Its history has been the story of development and problems, occasionally; it has developed from its early role of accepting or financing of small and medium scale business, which is better handled by banks and rural areas. Small and medium scale business that takes care of all the financial needs of its customers. It is the theme of this project to analyze the policy, formulation and execution strategies of the small and medium scale business especially in the rural areas with the view to evaluate the problems and recommendation of the problems. However, prospects are therefore small and medium scale enterprise in Nigeria so as to know what the future hold for them.