FINANCING SMALL AND MEDIUM ENTERPRISES IN NIGERIA: PROBLEMS AND PROSPECTS

TABLE OF CONTENTS

Certification.. iii

Dedication.. iv

Acknowledgementv

Table of Contents. vii

Abstractix

CHAPTER ONE.. 1

1.0 Introduction.. 1

1.1 Background of Study. 1

1.2 Objective of the Study. 2

1.3 Statement of Research Problems. 3

1.4 Scope of Study. 4

1.5 Limitation of Study. 5

1.6 Research Methodology. 6

1.7 Statement of Hypothesis. 6

1.8 Significance of the Study. 7

1.9 Plan of Study. 8

CHAPTER TWO.. 10

2.0 Literature Review.. 10

2.1 Introduction.. 10

2.2 Historical Background of Small and Medium Scale Industries in Nigeria. 12

2.3 Characteristics of Small and Medium Scale Enterprises. 16

2.4 Roles of SMEs in the Nigerian Economy. 19

2.5 Sources of Finance for Small and Medium Scale Business in Nigeria. 23

2.6 Financial Support Programmes for Promoting Small Scale and Medium Scale Enterprises 27

2.7 Who are the Financial Intermediaries. 28

2.8 New Development in Private Enterprise Financing in Nigeria. 31

2.9 Problems Facing Small Scale and Medium Scale Enterprises. 33

2.10 Problems of the Small Scale Industries in Sourcing for Finance. 36

2.11 Problems Associated with Small Business Operations. 36

2.12 Experience in Enterprise Financing for Small Scale Enterprises. 38

2.13 Important of Small Scale and Medium Scale Industries in Nigeria. 39

2.14 Prospects of Small and Medium Industries. 40

CHAPTER THREE.. 42

3.0 Research Methodology. 42

3.1 Introduction.. 42

3.2 Research Design.. 42

3.3 Source of Data. 43

3.4 Population and Sample Size. 43

3.5 Data Collection Instrument43

CHAPTER FOUR.. 50

4.0 Presentation of Data Analysis. 50

4.1 Analysis of Data. 53

CHAPTER FIVE.. 63

5.0 Introduction.. 63

5.1 Summary of Findings. 63

5.2 Conclusion.. 64

5.4 Recommendation.. 64

5.5 Suggestion for Further Study. 65

Bibliography. 66

Appendix. 67

ABSTRACT

This research work explored the financing means of small and medium scale enterprises and the problems that are facing them in sourcing for finance. It also exposed some problems facing the sector which are not connected with finances. The research objectives which attempted to examine the various sources of fund finance for the sector in Nigeria, the problems associated with raising funds for the sector and an attempt to provide solution to these problems. Some of the objectives of the study in addition are as follows:

1 To determine available options of financing small and medium enterprises

2 Analysing the problems encountered by the industrialists especially in obtaining the much needed funds for the establishment of new enterprises

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