Financing Small and Business Enterprises for Economic Development in Nigeria as a Motivation PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Financing Small and Business Enterprises for Economic Development in Nigeria as a Motivation PDF full book. Access full book title Financing Small and Business Enterprises for Economic Development in Nigeria as a Motivation by Ambreen Khaskhelly. Download full books in PDF and EPUB format.
Author: Ambreen Khaskhelly
Publisher:
ISBN:
Category :
Languages : en
Pages : 12
Get Book Here
Book Description
The main objectives of this paper were to review the government policies for SMEs in Nigeria. Examine source of finance and incentives for SMEs to present an analysis of Nigerian firms and access to credit for SMEs and finally recommend strategies for the promotion of SMEs in Nigeria. The major conclusions drawn from this paper were available data and records indicate that the performance of SMEs in Nigeria has not justified the establishment of Micro Credit Institutions. Analysis on Nigerian firms shows that about 52% of Micro Firms have access to external finance, while 82% of small and 89% of medium scale firms have access also. While large firms have almost 100% access to external finance. The analysis further revealed that almost 50% of Micro, 39% and 37% of small and medium scale firms sampled report being credit constrained as opposed to 25% of the very large firms. This shows that small and medium scale firms are discriminated against credit market. About 25.2% of the small business and 23.2% of medium scale business sampled complained of high interest charges and claimed that because of this, they could not secure loans. It is recommended that specialised SMEs banking and support programmes need to be set up. The small loan scheme needs to be reviewed and mobile banking services need to be organised to make credit accessible to SMEs. A clear policy commitment needs to be made to improve access to credit to rural areas. Finally, government should create an enabling environment that will discourage corruption and bureaucratic bottlenecks.
Author: Ambreen Khaskhelly
Publisher:
ISBN:
Category :
Languages : en
Pages : 12
Get Book Here
Book Description
The main objectives of this paper were to review the government policies for SMEs in Nigeria. Examine source of finance and incentives for SMEs to present an analysis of Nigerian firms and access to credit for SMEs and finally recommend strategies for the promotion of SMEs in Nigeria. The major conclusions drawn from this paper were available data and records indicate that the performance of SMEs in Nigeria has not justified the establishment of Micro Credit Institutions. Analysis on Nigerian firms shows that about 52% of Micro Firms have access to external finance, while 82% of small and 89% of medium scale firms have access also. While large firms have almost 100% access to external finance. The analysis further revealed that almost 50% of Micro, 39% and 37% of small and medium scale firms sampled report being credit constrained as opposed to 25% of the very large firms. This shows that small and medium scale firms are discriminated against credit market. About 25.2% of the small business and 23.2% of medium scale business sampled complained of high interest charges and claimed that because of this, they could not secure loans. It is recommended that specialised SMEs banking and support programmes need to be set up. The small loan scheme needs to be reviewed and mobile banking services need to be organised to make credit accessible to SMEs. A clear policy commitment needs to be made to improve access to credit to rural areas. Finally, government should create an enabling environment that will discourage corruption and bureaucratic bottlenecks.
Author: Farhad Taghizadeh-hesary
Publisher: World Scientific
ISBN: 981123583X
Category : Business & Economics
Languages : en
Pages : 425
Get Book Here
Book Description
Successful startups and small businesses can play a significant role in economic growth and job creation. They also contribute to economic dynamism by spurring innovation and injecting competition. Startups are known to introduce new products and services that can create new value in the economy. It is notable that most startups exit within their first ten years, and most surviving young businesses do not grow but remain small. Startups and small businesses face several obstacles to their development. Accessing capital is a crucial constraint on their growth. Most startups and small businesses have difficulties getting the funds they need because of their lack of a performance track record and lack of collateral, making it difficult for lenders or investors to assess their risk. Besides, they are in the early stages of development and face a very high possibility of failure, which significantly raises financing and investment risk.Investment in Startups and Small Business Financing provides 12 thematic and case studies on new methods for bringing private investment (loans or equity) to startups and easing small businesses' access to finance (debt and capital). The contributors are senior-level policy experts and researchers from governments, think tanks, academia, and international organizations. The chapters are authored in a policy-oriented way to be understandable for the readers with a different background. This book is a precious source for the governments for adopting the right policies to develop small businesses and startups and valuable for the researchers in economics, business, and finance.
Author: Olufidipe Omopariola
Publisher:
ISBN:
Category : Business enterprises
Languages : en
Pages : 364
Get Book Here
Book Description
Author: David B. Ekpenyong
Publisher:
ISBN:
Category : Industries
Languages : en
Pages : 46
Get Book Here
Book Description
Author: Evelyn Alaye-Ogan
Publisher: LAP Lambert Academic Publishing
ISBN: 9783659110610
Category :
Languages : en
Pages : 88
Get Book Here
Book Description
Small scale businesses have been known to be agents of economic growth and development in different economies. It is not surprising that governments give them a priority place in their national plans. Nigeria is full of these businesses, accounting for over 80% of all businesses. How have these businesses fared in contributing to economic growth and national development in Nigeria? This study takes on the issue of financing these businesses in a way they can effectively function as agents of national development. It critically discusses the financing issues and challenges of the small scale businesses in Lagos metropolis of Nigeria. How can these businesses be adequately funded in Nigeria? What are the sources of such finance? The study is a useful guide to new entrepreneurs, those in Diaspora, government agencies and organized private sector alike, that are interested in setting up small scale businesses in Nigeria. It is also useful to the government as it brings out the gaps between the small scale businesses and government agencies responsible for supporting SSBs in financial policy making and implementation, to enable them function as real agents of economic growth.
Author: J. N. Taiwo
Publisher:
ISBN:
Category :
Languages : en
Pages : 18
Get Book Here
Book Description
Small and Medium Enterprises play key roles in transition and developing countries (OECD, 2002). These firms typically account for more than 90% of all firms outside the white-collar jobs sector, constituting a major source of employment and generates significant domestic and export earnings. OECD, (2005) stressed that SME development emerges as a key instrument in poverty reduction efforts, therefore, SME obviously contributes to economic, social development and poverty reduction. World Bank review on small business activities establishes the commitment of the World Bank Group to the development of the SMEs sector as a core element in its strategy to foster economic growth, employment and poverty alleviation (World Bank, 2012).
Author: OECD
Publisher: OECD Publishing
ISBN: 9264579311
Category :
Languages : en
Pages : 294
Get Book Here
Book Description
Small and medium-sized enterprises (SMEs) and entrepreneurs have been hit hard during the COVID-19 crisis. Policy responses were quick and unprecedented, helping cushion the blow and maintain most SMEs and entrepreneurs afloat. Despite the magnitude of the shock, available data so far point to sustained start-ups creation, no wave of bankruptcies, and an impulse to innovation in most OECD countries.
Author: Olayinka Moses
Publisher:
ISBN:
Category :
Languages : en
Pages : 6
Get Book Here
Book Description
Small businesses are often faced with funding challenges in developing economies which constraints their growth and long term survival. This study examines the existence and role of business Angels as a source financial, human and social capital to overcome challenges of funding for small businesses in Nigeria. The research aims to strengthen the framework that seeks to provide detail understanding of the benefits that business angels can bring to small business in developing economies, considering the gap that exists in this regard. Data for the study were obtained using questionnaires and analyzed using Kolmogorov-Simirov (KS) test. The finding reveals, that Angel financing is a viable alternate source for financing small businesses in Nigeria. Recommendations proffered include the need for publicity on the activities of angels to support other government programmes on small business financing. There should also be an enabling environment for angel venture networks to participate in economic growth and development of small businesses in Nigeria.
Author: Matthew Ebebhoahon
Publisher:
ISBN:
Category :
Languages : en
Pages : 36
Get Book Here
Book Description
Nigeria is a viable country for business and good investment to make more income irrespective of the lingering economic crisis, the country is currently going through. Nigerian economy in the 21st Century is faced with diverse and massive challenges. This is giving Nigeria's economy huge endowments of natural and human resources and it is unacceptable because some Asian countries such as Singapore and Malaysia, which has similar colonial legacy and features, and related natural resources gifts, have witnessed significant growth in the development of their economies since 1965 when they were in the same level or behind Nigeria.Nigeria has lots of mineral resources and great business prospect. Hence, individuals and corporate bodies source for funds to start up their various businesses as well as create employment with good work environment. The plan of starting a business in Nigeria requires that investors or entrepreneurs must be ready to take risk so as to achieve the aim of the business.Taking risk in business covers sources of finance especially when considering the life-span of the business and its militating factors which may end the existence of the business. Here some of the factors include, but not limited to, environmental factors, political factors, religious factors, constitutional factors, social factors, etc.Presently, we are in a period of lack of capital and restriction of credit where businesses are frustrated by the strict policy to access capital of any kind. From observation, Nigeria's economy will depend on companies being given easy access to finance they require to invest.Loan from the Bank is the main common source of external finance for many SMEs and entrepreneurs that depend on traditional debt to aid their establishment, cash flow and investment needs. Although bank financing will continue to be important for the SME sector, more different options to finance SME could support long-term investment and reduce the weakness of the sector to any change in the credit market.It suffices to say that it is important to broaden the range of financing instruments available to SMEs and entrepreneurs, in order to help them continue to grow, improve and employ.
Author: Woldie, Atsede
Publisher: IGI Global
ISBN: 152252701X
Category : Business & Economics
Languages : en
Pages : 322
Get Book Here
Book Description
Entrepreneurial endeavors are a pivotal driving force behind the modern business sector. These enterprises play a significant role in the development and sustainability of a nation’s economy. Financial Entrepreneurship for Economic Growth in Emerging Nations is an innovative reference source for the latest scholarly research on strategies and techniques for financing small and medium-sized enterprises in the context of developing nations. Including a range of pertinent topics such as microinsurance, risk management, and advertising, this book is ideal for managers, academics, professionals, graduate students, and practitioners interested in the dynamics of financial entrepreneurship.
