Financing Small and Medium Enterprises for Economic Growth
– Financing Small and Medium Enterprises for Economic Growth –
TABLE OF CONTENTS
Title page i
Approval page ii
Dedication iii
Acknowledgment iv
Table of contents v
CHAPTER ONE: GENERAL INTRODUCTION
1.1 Background of Study 1
1.2 Statement of Research Problem 2
1.3 Objective of Study 3
1.4 Research Hypotheses 3
1.5 Significance of Study 4
1.6 Scope of Study 5
1.7 Chapter Scheme 5
CHAPTER TWO: LITERATURE REVIEW
2.1 Introduction 7
2.2 Definition of Small and Medium Enterprises 7
2.2.1 Cottage Industry 10
2.3 Small and Medium Enterprises and access to finance 11
2.4 Sources of Financing Small and Medium Enterprises in Nigeria 12
2.4.1 Bank Overdraft (Bank Draft) 13
2.4.2 Trade Credit 14
2.4.3 Leasing 16
2.4.4 Venture Capital or Risk Capital 17
2.4.5 Business Angels 18
2.4.6 Rotating Savings and Credit Associations (ROSCA) 19
2.4.7 Small and Medium Enterprises Equity Investment Schemes (SMEEIS) 21
2.4.8 The Central Bank of Nigeria Agricultural Credit Guarantee Scheme 24
2.5 Challenges of Small and Medium Enterprises Financing 25
CHAPTER THREE: RESEARCH METHODOLOGY
3.1 Introduction 28
3.2 Research Design 28
3.3 Population 28
3.4 Sample and Sampling Techniques 29
3.4.1 Sample 29
3.4.2 Sampling Techniques 29
3.5 Data Collection Method 29
3.6 Data Analysis Techniques 30
CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS
4.1 Introduction 31
4.2 Data Presentation and Analysis 31
4.3 Hypotheses Testing 41
4.4 Decision Rule 44
CHAPTER FIVE: SUMMARY, FUNDINGS, CONCLUSION, AND RECOMMENDATIONS
5.1 Introduction 46
5.2 Summary 46
5.3 Findings and Conclusion 47
5.4 Recommendations 49
Bibliography 51
Appendix 53
INTRODUCTION
1.1 Background of the Study
Small and Medium Scale Enterprises (SMEs) are the backbone of every economy and are key sources of economic growth, dynamism, and flexibility in advanced industrialized countries, as well as in emerging and developing economies.
SMEs constitute the dominant form of business organization, accounting for over 95% and up to 99% of enterprises depending on the country (Osagie 2004:25). They are responsible for between 60-70% of net job creations in less-developed or developing countries.
While not every small business turns into a multinational, they all face the same issue in their early days – finding the money to enable them to start and build up the business. It is harder for them to borrow money from banks or finding private investors than for larger firms.
Microfinance institutions are semi-formal organizations and a subset of flexible structures and systems which provide a wide range of financial and saving needs of small-scale enterprises in developing countries where top-town formal financial institutions have failed to address the credit need of the real sector of the economy.
REFERENCES
Alawe T. (2004) Entrepreneurship Processes and Small Business Management. Industrial Science Centre, Owoyemi House, Otta Ogun state, Nigeria.
Arriyo D 1999 Small firm are the Backbone of Nigeria economy. Africa EconomicAnalysis, Africa Business Information Service, Bridgnorth United Kingdom.
Ayyagari M, T. Beck and A. Demirguc-kunt (2003) Small and Medium Enterprises across the Globe. A New database. World Bank, Development Research Group.
Beckley P. (1988) Foreign Direct Investment by Small and Medium Sized Enterprises: The Theoretical Background. Bradford, United Kingdom. University of Bradford Management Centre.
Ekpeyong D. and Nyang M. O. (1992) Small and Medium Scale Enterprises in Nigeria: Their Characteristics, Problems and Sources of Finance. African Economic Research Consortium, Nairobi.
Tags: contribution of smes to economic development pdf, impact of smes on economic growth, small and medium enterprises pdf, sme financing pdf, smes' contribution to economic growth
