Why is the small scale trader important in West African countries?
Explanation
The small scale trader is important in West African countries for the following reasons:
(i) Flexibility: hours of operation and granting credit to customers can be tailored to meet the needs of customers/consumers.
(ii) There is lower level of risks.
(iii) Low overhead cost.
(iv) Some supply the needs of larger firms.
(v) Pride of ownership or joy of self-employment.
(vi) Ability to meet the peculiar needs of customers / keep variety of goods from which the customers can choose.
(vii) The small scale trader distributes goods to the very remote areas of the country.
(viii) It serves as training ground for lunching into large - scale production.
(ix)The trader supplies information to the manufacturers through the wholesalers, i.e., serves as link between the consumers and manufacturers/wholesalers.
(x) Small capital required: This ties up with the low level of income and low level of savings in West Africa.