Small Business Ownership And Management In Uyo Metropolis, Akwa Ibom State, Nigeria: Problems And Prospects

Abstract

This paper adopted the survey design focused on small business
ownership and management in Uyo metropolis. It examined the
problems confronting this class of business as well as the prospects
awaiting future investors. With the help of personal interview and
structured questionnaire administered to 100 randomly selected
small business owners in the study area, data were collected and
analysed using simple percentage. The study observed that paucity
of funds and interest by the young and educated people to take to
small businesses and poor government and institutional support
are some of the problems facing small businesses in Uyo metropolis
and Akwa Ibom State generally. Among the recommendations made
is that government should step up support to small businesses and
create greater awareness for more people to take to small businesses
in Akwa Ibom State.