2025-03-28https://repository.covenantuniversity.edu.ng/handle/123456789/35893The development of small and medium scale enterprise has been canvassed as the foundation of any solid development of any nation world over. The objectives of this paper include: (i) To find out the relationship between effective management of small scale enterprise and the nation’s economic development, (ii) To examine whether financial challenges faced by sole proprietorship business can affect employment generation in Nigeria amongst others. The study used survey research method with three hypotheses, which were later analyzed with correlation and regression test statistics on the nature of each of the hypotheses. Based on findings of the study, useful policy recommendations were made which businesses owners and policy makers at the various tiers of government will find beneficial when faithfully implementedapplication/pdfH Social Sciences (General)Article