It is a matter of fact that there are a lot of things in which large companies are experts while the small firms can better do some things also. If both, small and large firms do their business in which they get advantage, the welfare of the economy can be maximized and the state of specialization can be attained. When we focus on the impact of small as well as medium firms on the whole economy, it is difficult rather impossible for us to segregate their impacts from the impact of large corporations.

This issue remained a hot topic for centuries. Economists were of the view that it is a large firm, which participates actively in the economy and also shares a large amount of foreign exchange earnings. But their point of view changes when the countries like Taiwan, Japan and Korea developed on their small and medium based business. It is the crystal clear that these economies developed through the grass root level as small and medium enterprises belong to grass root. Those who believe that the large firms are only responsible for economic growth should keep in mind that the small vendors and small suppliers contribute heavily in the production of large firms. The reality on ground is that small firms are held responsible for making large firms to attain their targets.

The progress and prosperity, which take place from the lower level, benefit all the classes of the society. The spill over impacts of SMEs proves to be ever lasting on the world’s economy.

CHAPTER ONE

INTRODUCTION

1.1Background to the Study

1.2Statement of Problem

1.3Objectives of the Study

1.4Research Questions

1.5Statement of Hypothesis

1.6Significance of the Study

1.7     Scope of the Study

1.8    Definition of Terms

CHAPTER TWO

LITERATURE REVIEW AND THEORICAL FRAMEWORK

2.1Introduction

2.2Conceptual Framework

2.3Theoretical Framework

2.3.1 Theory of Firm and Economic Development

2.3.2Theory of Entrepreneurship and Economic Development

2.3.3Schumpeter Entrepreneurship Theory

2.3.4Theory of Entrepreneurship: Volatility and Information Cost

2.4Review of Empirical Studies on the Impact of Small and Medium Enterprise Development on Youth Empowerment

2.4.1Effect of Entrepreneurship on Poverty Reduction

2.4.2The Role of Entrepreneurship in National Development

CHAPTER THREE

RESEARCH METHODOLOGY

3.1Introduction

3.2Research Design

3.3Population of the Study and Sample Size  

3.4Source of Data collection

3.5Method of Data Collection and Justification

3.6Method of Data Analysis and Justification

3.7Justification of Method of Data Collection and Analysis

3.8Summary 

CHAPTER FOUR

DATA PRESENTATION AND ANALYSIS

4.1Introduction

4.2Respondent Characteristics

4.3Data Analysis

4.4Summary of Findings

CHAPTER FIVE

SUMMARY, CONCLUSION AND RECOMMENDATIONS

5.1Summary

5.2Conclusion

5.3Recommendations

5.4   Limitation of the study

REFERENCES

QUESTIONNAIRE