1) The document discusses small scale enterprises and funding sources for starting or expanding such businesses. It defines micro, small, and medium enterprises based on employee count and asset value. 2) A small scale enterprise is described as having a small number of employees, low sales volume, few assets, and limited market impact. Examples include poultry farms, furniture making, and retail shops. 3) Advantages of owning a small business include improved self-esteem, increased income, job creation, provision of goods and services, and contribution to economic growth. Challenges include lack of capital, low customer demand, and poor record keeping. 4) The document recommends various funding sources for small businesses

1. “SMALL SCALE ENTERPRISE AND FUNDING SOURCES”
A Paper presented at the 2010 Train –the- Trainers of Sunday school and House fellowship
Teachers at the R.C.C.G. Regional Headquarters, Central parish.
Text: Gen. 30:25-43, Pr 24:3-4(LBT).
INTRODUCTION:
Thus the man (Jacob) increased and became exceedingly rich, and had many sheep, goat, and
maidservants, menservants, camels and donkeys (Gen 30: 43 AMP).
Producing glory is Gods purpose for our lives (1 pt.2:9). It is especially so for us teachers since the
best way to teach is to live what we preach (Ezra 7:10).
We are to manifest His glory in every area of our lives, including our finances, (Ps. 35: 27, Duet.
8:18).The desire to produce Gods glory financially, should lead any serious minded Christian to own
his/her own business enterprise (Ps. 1:3) thus creating an opportunity/avenue for God to pour His
blessings upon such a one, just as Jacob showed us in our text that you cannot become exceedingly
Rich by working for others (Gen 30: 30, 33-43).
For the purpose of this paper we will be looking at the following points which will help us understand
what a small enterprise is and how we can get money to start or expand our enterprise:-
1. Definition of Micro, Small & Medium Enterprises (MSMEs).
2. Meaning of small scale enterprise.
3. Characteristics of small scale enterprises.
4. Advantages of owning a small scale enterprise.
5. Challenges facing small scale enterprises.
A Paper Presented by Okoronkwo Sunday, E-mail sunnyokoronkwo@gmail.com. Tel.08068142697, 07026090135

2. 6. Funding sources for small scale enterprises.
1. Definitions: Micro, Small and Medium Enterprises (MSMEs)
You can not talk about small Scale enterprises without mentioning Micro and Medium Enterprises, and so
we will start by defining each of these types of enterprises, measured by their size and asserts value.
The definitions of MSMEs then in the Nigerian context are:
 Micro-Sized Enterprises: are Enterprises with Less than 10 employees and asset value of less than
one million naira.
 Small-sized Enterprises: usually in the formal sector has less than 100 employees and assets value
over one million but less than 50 million naira.
 Medium-sized enterprises: are Enterprises that has over a 100 but less than 300 employees and
assets value of over 50 million but less than 200 million naira.
From these definitions we find out that most business here may fall under the Micro Enterprise rather
than the Small Scale Enterprise so I think we will over look some of these terminologies and just focus
on owning and running a business Enterprises no matter how small or big.
2. MEANING OF SMALL SCALE ENTERPRISE
Generally, a Small Scale Enterprise is any firm, or an Establishment that has a small number of
employees, a low volume of sales, a small amount of assets and has a limited impact on the market.
Examples; Poultry farm, Furniture making, Supermarkets, Cobbler shop, Doll making, fashion and
design, interior decoration etc.
3. Characteristics of Small Scale Business Enterprise
The small business Enterprise has the following characteristics:
 Size: Small business premises, low technology and basic equipments
 Operation process: few individuals are involved in decision making, Maintenance is easy and it
has few staffs to oversee
 Investment: start up capital is usually small thus gross and net returns are also small too.
4. Advantage of owning/running a Small Business Enterprise
Owning and running a small enterprise delivers tremendous benefit to any who will engage in it. Jacob
almost left Laban, empty handed (Gen 30:25, 30) but thank God he started working for Himself while
working for Laban. That is, while working for another he was also running his own Enterprise, what we
can call, a second income generating business. He engaged himself in investing the skills he had
acquired from his job for legitimate financial blessing (Gen 30:43, Pro. 24:3-4 LBT). Any diligent small
enterprise owner will enjoy the following benefits:
A Paper Presented by Okoronkwo Sunday, E-mail sunnyokoronkwo@gmail.com. Tel.08068142697, 07026090135

3.  Improved self-esteem
 Increased personal and family income
 Employer of Labour, there by reducing the high rate of unemployment
 Provision of goods and services thus meeting the needs of others in exchange for their money.
 Positive contribution to economic growth
 Increased revenue for government to provided basic amenities and infrastructure etc.
5. Challenges of Small Scale Enterprise
Challenges Solutions
Improve business plan and Seek other sources of funds
Lack/Inadequate capital
Make More effort in marketing and promotions
Low patronage
Investigate suitability of goods and services
Acquire management, administrative and record keeping skills an
Poor record keeping dedicate the amount of time required to make it work.
Solicit support from family members/
Too much stress Hire additional staff to assist.
Find out about available government Assistance and explore
Lack of government support It. Identify means of obtaining Assistance from other business
Support organizations.
6. Funding sources for Small Scale Enterprise
Money the bible says answereth all things; no matter the business idea a man has he needs money to
bring it to pass. One of the main challenges of businesses in Nigeria is lack of funds to finance business
ideas. Even if your idea is inspired you need money to start/establish it. So if you think your idea is
worth anything, if you believe this is the expansion that will cause positive explosion in your business or
you know that this is the next million dollar idea, then you have to save, raise or loan the money
required. Let’s just mention some of the sources from which a Small Scale business owner can raise
money;
 Personal Savings
 Partnership
 Relations and friends
 Private placement of equity
 Joint venture
 Economic opportunity Loans
 Daily contributions
 Stock/Shares
 Banks
 Credit Union/Cooperative Society
A Paper Presented by Okoronkwo Sunday, E-mail sunnyokoronkwo@gmail.com. Tel.08068142697, 07026090135

4. Conclusion:
Eleanor Roosevelth said “the future belongs to those who believe in the beauty of their dreams” if you
have and believe in your God given dream, you will work and do all it takes to actualize it. Start your
own enterprise today or work towards it so as to become a producer of the glory of the richest and
wealthiest of all (God Almighty).
For further reading/research please get this book /search this websites:
Be your own Boss by Joe C. David
www.myownbusiness.org
www.nigeria.smetoolkit.org
A Paper Presented by Okoronkwo Sunday, E-mail sunnyokoronkwo@gmail.com. Tel.08068142697, 07026090135