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Open Access
IMPACT OF FINANCE ON THE GROWTH OF MSMEs IN GOMBE METROPOLIS, GOMBE STATE
(Department of Banking and Finance, Nasarawa State University, Keffi., 2017-10-23) Mairana, Idris Audu
MSMEs play a pivotal vole in economic growth and development as they create employment and improve GDP among other roles. For a nation to benefit from these, the growth of such sector (MSMEs) needs to be ascertained and for business to grow it needs adequate access to finance which is being seen as a major problem faced by MSMEs. The study examines the relationship between access to finance from Bank of Industry (BOI) and the growth of MSMEs in Gombe Metropolis. The data for this study were obtained using a survey design. 97 questionnaires were administered to the customers of Bank of 'Industry in Gombe metropolis, using purposive and convenience sampling method. The sample size was determined by visiting and administering questionnaires to the customers (that owns MSMEs) available at the time of visit. Linear Regression was used to test the formulated hypothesis. It was concluded that there is no significant relationship between access to finance from Bank of Industry and the Growth of MSMEs in Gombe metropolis. It was recommended that the bank should not fold hand after giving access to loan, to ensure that loan given to MSMEs' owners is used appropriately and banks should increase access to finance to enhance growth