THE IMPACT OF MICROFINANCE BANK IN GROWTH OF SMALL AND MEDIUM SCALE BUSINESS IN NIGERIA
- Project Research
- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
- Reference Style: APA
- Recommended for : Student Researchers
- NGN 3000
ABSTRACT
This study discusses the impact of Microfinance Institution (Microfinance bank) on the growth of Small and Medium Scale Enterprises (Small and medium scale business) in the Owerri Urban. The study examined the detailed profile of Small and medium scale business in the Owerri Urban of Nigeria, the contribution of Microfinance bank to entrepreneurial growth, the challenges encountered by Small and medium scale business in accessing credit and the rate of credit utilization by Small and medium scale business. An analysis of the profile of Small and medium scale business shows that most Small and medium scale business area their Micro stages since they employ less than six people and these factory considerably dominated by the commerce sub-sector. There search also indicates that Microfinance bank have had a positive effect on the growth of Small and medium scale business. Some of the critical contributions of Microfinance bank include; greater access to credit, savings enhancement and provision of business, financial and managerial training. Irrespective of the contributions of Microfinance bank to the development of Small and medium scale business, there are challenges that affect the operations of both Small and medium scale business and Microfinance bank. The major challenge faced by Small and medium scale business is the cumber some process associated with accessing credit of which collateral security and high interest or setback. On the other hand, Microfinance bank face some challenges relating to credit misappropriation and non- disclosure of the relevant facts of the business operations of Small and medium scale business. The final analysis of their search clearly reveals that Microfinance bank have a positive effect on the growth of Small and medium scale business. In order to enhance a sustained and accelerated growth in the operations of Small and medium scale business, credits should be client- oriented and not product-oriented. Proper and extensive monitoring activities should be provided for clients who are granted loans.
Related Project Materials
THE IMPACT OF ICT ON THE NIGERIAN ECONOMIC GROWTH AND DEVELOPMENT
ABSTRACT
In Nigeria, provision of public infrastructure is grossly inadequate and poor. Necessary telecommunication serv...
OHU AND AMADI COMMUNAL COMPLEX IN NKANULAND- IMPLICATIONS FOR EFFECTIVE CHRISTIAN EVANGELISM
Introduction
The interest of linguists in analysing conversational texts has gradually shifted from the traditional focu...
ATTITUDE OF STUDENT NURSES’ TOWARD PEOPLE WITH DISABILITIES
ABSTRACT
The purpose of this study was to review the attitude of nursing students towards people with d...
EFFECT OF MOTIVATION ON STUDENTS ACADEMIC ACHIEVEMENT AND INTEREST IN SENIOR SECONDARY SCHOOL BIOLOGY
Background of study
Education is an instrument that affects national development in Nigeria. It helps i...
AN EVALUATION OF MASS MEDIA INFLUENCE ON LIFESTYLE OF YOUTHS
ABSTRACT
Mass media refers to those media that are designed to be consumed by large audiences through t...
EXPLORING THE BENEFITS OF EARLY CHILDHOOD EDUCATION ON COMMUNITY RESILIENCE
ABSTRACT: This study explored the Benefits of Early Childhood Education on Community Resilience. The objecti...
IMPACT OF BROKEN HOMES ON ACADEMIC PERFORMANCE OF STUDENTS IN KADUNA NORTH LOCAL GOVERNMENT AREA OF KADUNA STATE
Background of the Study
The institution of education has been recognized as having significant value t...
THE ROLE OF LAW IN PROMOTING GENERAL SAFETY ON FLIGHT UNDER INTERNATIONAL LAW
ABSTRACT
Aviation is one of the greatest and important unique inventions of man in the area of transportation. Since 17 December 1903 nea...
DESIGN AND CONSTRUCTION OF A SINGLE PHASE AUTOMATIC CHANGE OVER SWITCH WITH PHASE SELECTOR
INTRODUCTION
Change over switch is a device used to switch off a power supply and subsequently switch on another power s...
THE OXIDATIVE STRESS STATUS OF RATS FED ON OIL BEAN SEED MEAL
ABSTRACT
This study was on oxidative stress status of rat fed with Pentraclethra macrophylla, otherwise known as African oil bean seed oi...
