The Impact of Micro-Finance Institutions Credit on the Survival of Small- and Medium-Scale Enterprises in Irepodun LGA of Kwara State, Nigeria
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Date
2015
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The Pacific Journal of Science and Technology, A Publication of the Akamai University.
Abstract
The failure of many small-scale businesses in Nigeria is largely due to a shortage of finances for a continued period of time. The microfinance banks serve as a bailor to the financial collapse that would have befallen many of these businesses. This paper looks at the impact of microfinance credit on the survival of small- and medium-scale businesses in Irepodun Local Government Area (LGA) of Kwara State, Nigeria.
The two functional microfinance banks in the Irepodun LGA were the population/sample for this study. ANOVA was used to test the hypothesis. The findings revealed that microfinance banks contribute significantly to the survival of small- and medium-scale enterprises in the study area. The study recommends that: repayment periods should be increased and more funds should be released to potential entrepreneurs for enterprise creation and to generate more employment.
Description
Adeoti, J. O., Gbadeyan, R. A. and Olawale, Y.A. (2015): “The Impact of Micro-Finance Institutions Credit on the Survival of Small- and Medium-Scale Enterprises in Irepodun LGA of Kwara State, Nigeria”. The Pacific Journal of Science and Technology, A Publication of the Akamai University. 16(2): 180 – 188.
Keywords
Impact, Microfinance, Credit, Survival, Small Scale Business, Entrepreneurship