IMPACT OF FINANCE ON THE GROWTH OF MSMEs IN GOMBE METROPOLIS, GOMBE STATE

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IMPACT OF FINANCE ON THE GROWTH OF MSMES..............pdf (2.46 MB)

Date

2017-10-23

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Department of Banking and Finance, Nasarawa State University, Keffi.

Abstract

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

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Keywords

Access to finance MicroFinance Banks, MSMEs’, MSMEs’ Growth

Citation

Abdulsalam, D. 0. &Tukur, M. N. (2014). Access to microfinance and small enterprises’ growth in Sokoto State, Nigeria. World Review of Business Research, 4( 1), 62-72. Afolabi, M. O. (2013). Growth effect of small and medium enterprises' financing in Nigeria. Journal of African Macroeconomic Review, 3(1), 193-205. Akpan, E. S. &Nneji, I. D. (2015). Contribution of Microfmance Banks to the Development of Small and Medium Scale Enterprises in Nigeria. Research Journal of Finance & Accounting. 6(8), 19 28. Babajide, A. (2012). Effect of microfmance on micro and small enterprises' growth in Nigeria. Asian Economic and Financial Review, 2(3), 463-477. Babajide,A.& Joseph,T. (2011). Microcredit and business performance inNigeria: The case of M F I finance enterprises. International Journal of Research in Commerce and Management, 2(11),43-49. Bowale, K. & Akinlo, A. (2012). Determinants of SME performance and poverty alleviation in developing countries: Evidence from South -West Nigeria. European Journal of Human ities and Social Sciences, 17 (1), 847 -863 Central Bank ofH'\gen2i(2005).Microfinance Policy, Regulatory and Supervisory* Framework for Nigeria. Abuja: CBN. Central Bank of Nigeria (2011). Revised Microfmance Policy, Regulatory and Supervisor Framework for Nigeria. Abuja. Jodah N ig. Ltd. Central Bank of Nigeria (2014).L/s/ of financial institutions: Microfmance banks. Retrieved 3rd January, 2015 from http://www.cenbank.org/Supervision/lnst-MF.asD Dikki, A. C., Muhammad, B. A., Dogarawa, A. B., &Chechet, I. L. (2012).lmpact of nonfinancial services of microfmance banks (mfbs) on the performance of women entrepreneurs in Nigeria.//ST£ European Journal of Business and Management, 6 (34), 158- 163. EFInA (2012) Access to financial services in Nigeria, 2012 survey. Retrieved 21“ November, 2014 from http.7/www.efina.org,ng/assets/ResearchDocuments/2013 Documents/EFInA - Access-to Financial-Services-in-Nigeria 2012- surveyKey-Findings2.pdf EFInA (20\4).Access to financial services in Nigeria, 2014 Survey. Retrieved 21st

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https://keffi.nsuk.edu.ng/handle/20.500.14448/898

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