It is a known fact that people understand the convenience associated with working for others and getting paid at the end of each month, yet people elect to take to small scale business as a way of life. This has to do with certain appealing advantages as listed below:
i. Being your own boss: The freedom and independence of action associated with business ownership appeals to so many individuals who feel nothing else than to take to small scale business, owned and managed by them. Freedom and independence as twin concepts mean different things to different people, doing their business the way that they want to, planning when he or she dims fit, closing or opening when he or she likes, hiring and discharging as he or she thinks necessary, etc.
ii. Personal status: One important thing that the owner and manager of a small scale firm enjoys is recognition; this magnifies his or her personal status.
iii. Doing something that you like: Owing a business makes the individual get involved in a kind of work which he or she enjoys doing. The main factors in this “likeness” flows directly from freedom of being one’s boss. One source of frustration in normal employment is a situation where one is involved in a task he or she doesn’t quite enjoy. In the case of a small scale business, people hardly want to go into a business they don’t like. And the inherent likeness brings continual joy and consequent increased productivity.
iv. Community development: Most people have realized that even as top office holders in either the public and private sector of the economy, it is usually difficult for a person to make great and direct contribution to community development. Many people who own and manage their own businesses are able to initiate and execute community development projects, as they feel a responsibility to the community.
Conversely, it is known to most people that a general manager of top federal government parastatal is simply “an employee of the government” and for all reasons cannot be respected as an “employer”. But the small scale industry owner/manager has the personal status of owner, employer and operator of a business enterprise. He or she is in most cases addressed as such.