Small and Medium Enterprises' Challenges of Accessing Microfinance in Nigeria

Atsede Woldie (Editor), Uruemuesiri Ubrurhe

    Research output: Chapter in Book/Report/Conference proceedingChapterpeer-review

    Abstract

    Despite the fact that small and medium enterprises have been viewed as a major promoter of technological development and employment generation in Nigeria, the sector has been neglected by successive governments (Gideon, 2015). This has resulted in unpalatable consequences on the economy (Gideon, 2015). The major challenge of the sector is poor funding (Afolabi & Ehinomen, 2015). Consequently, policies and efforts should be geared towards accelerating the growth and development of the sector (Afolabi & Ehinomen, 2015). According to Onwumere, (2000) a lack of funding has been a specific obstacle to investment and growth in the sector. The need to contribute to the current debate, update knowledge on the subject matter and make informed recommendations when implemented will lead to a change in fortune for the small and medium enterprise sector in the Nigerian economy which has informed this study. The chapter sets out to explore the qualitative relationship between small and medium enterprises and banks. Despite the fact that small and medium enterprises have been viewed as a major promoter of technological development and employment generation in Nigeria, the sector has been neglected by successive governments. This has resulted in unpalatable consequences on the economy. The major challenge of the sector is poor funding. Consequently, policies and efforts should be geared towards accelerating the growth and development of the sector. A lack of funding has been a specific obstacle to investment and growth in the sector. The need to contribute to the current debate, update knowledge on the subject matter and make informed recommendations when implemented will lead to a change in fortune for the small and medium enterprise sector in the Nigerian economy which has informed this study. The chapter sets out to explore the qualitative relationship between small and medium enterprises and banks.
    Original languageEnglish
    Title of host publicationFinancial Entrepreneurship for Economic Growth in Emerging Nations
    EditorsAtsede Woldie, Brychan Thomas
    PublisherIGI Global
    Pages229-253
    ISBN (Electronic)9781522527015
    ISBN (Print)9781522527008
    DOIs
    Publication statusPublished - Jul 2017

    Publication series

    NameFinancial Entrepreneurship for Economic Growth in Emerging Nations
    ISSN (Print)2327-5677
    ISSN (Electronic)2327-5685

    Keywords

    • SMEs
    • Microfinance
    • Nigeria

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    • Financial Entrepreneurship for Economic Growth in Emerging Nations

      Woldie, A. (ed.) & Thomas, B. (ed.), Jul 2017, IGI Global. 304 p. (Financial Entrepreneurship for Economic Growth in Emerging Nations)

      Research output: Book/ReportBookpeer-review

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