SMEs: A global Building Block for Industrialization and Internally Generated Revenue

The increasing trends of armed conflicts, cybercrime and human trafficking in the country are believed to have arisen due to unemployment in the country. Although, there are many multi nationals and conglomerate organizations in the country, yet they are not enough to absorbed the many qualified individuals seeking economy and productive engagement, to this end, government losses revenue in form of taxes, therefore affecting government inability and capacity to provide needed basics things of life and infrastructures to power, propel and promote economy activities. Scholars, development partners and government have come to recognised the importance of the informal sectors, as they have the capacity and potentials to annex human and natural resources as their operations does not need much capital, large space or rigours certifications, hence the government policies and programs gear towards SMEs development in the country. This research reveal the SMEs potentials for industrialization and assist the government internally generated revenue to render its obligation in the country by providing needed infrastructure to sustain and help accelerate SMEs operations.