In the recent years, the experience has shown that it is a known fact that is both developing and developed nations, that small-scale business from the bedrock for rapid and sustainable growth and development of national economics.
Therefore, in reality, Nigeria is underdeveloped nation where small-scale business are not well developed to number of factors, improper finance and economy depression and the government has emphasized and encourage the development of large industries which are party owned by Nigeria and foreigners.
Small-scale business finance by an interested investors requires the business to be a sound management good business and long term survival.
It is understandable that the main objective behind the establishment of small-scale business is to make profit, and the continuous survival of the business but, in most cases, small-scale business to fail even with good ideals because of finance and economy depression.
In a depressed economy, careful finance planning is a continuing necessity. A current shortage of funds is see and agreed that finance is pillar of any small-scale business.
Finance constitute the major success factor if a small-scale business is financed in economy depression depends upon the yardstick and investor is using in lending, it’s money to the growth of business.
It must be categorically state that banking institution is not the only way of raising fund for a small-scale business, we also have individual financials and credit facilities granted by suppliers.
Some of the small-scale business ranges from sole-traders, wholesalers, retail business, partnership enterprises, co-operatives societies such as food processing, leather industries, garment industries, printing, candle making, soap and detergent making, agricultural processing and block industries.
As a catalyst to the economies the importance of small-scale business need not to be over emphasized especially in a less industrial state like, kwara state which has in recent times been given reasonable suitable incentives, mostly design to complement finance and management to these small-scale business so as to create employment opportunities and boost the economic activities of Kwara State, mobilization of resources and minimize rural-urban drift.