AN ASSESSMENT OF THE GROWTH OF SMALL AND MEDIUM SCALE ENTERPRISES FINANCING IN NIGERIA

Abstract

In all economies of the world, Small and Medium Scale Enterprises (SMEs) have been a force to reckon with in the growth process; providing employment and facilitating inter-sectoral linkages. Nigeria SMEs however, have not lived up to expectations. This study focuses on the problems and prospects of SMEs in Nigeria. The major objective of the study is to evaluate the roles and activities of Small and Medium businesses in Nigeria. Accordingly, the study posits that the myriads of problems faced by SMEs in Nigeria can be encapsulated into lack of infrastructure, finance, management problem among others. In the process of carrying out the research, personal interview and questionnaire, simple percentage and chi-square methods were also used to analyze the data collected. From the analysis, it was gathered that adequate finance and managerial capability will lead to the success of SMEs and based on the findings, some useful recommendations were made. Hence, it was concluded that the issue of SMEs is not an aspect that can be undermined in an economic development.