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Small Scale Business Performance in NIGERIA

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Added on  2022-04-15

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Small and medium enterprises are believed to be the engine room for the development of any economy, because they form the bulk of business activities in a growing economy like that of Nigeria. This is manifested in the following ways, Employment generation, rural development, Economic growth and Industrialization, Better Utilization of Indigenous Resources . In the past, Nigeria’s over dependence on oil which really exposed the economy to unprecedented macro-economic instability resulting from the effects of external shocks to oil prices..

Small Scale Business Performance in NIGERIA

   Added on 2022-04-15

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THE ROLE OF MICROFINANCE INSTITUTIONS AND SMALL SCALE BUSINESS
PERFORMANCE IN IBADAN SOUTH WEST LOCAL GOVERNMENT AREA, IN
NIGERIA
BY
ADEYANJU OLUTOYIN BUNMI
MATRIC NO: NOU130444663
A PROJECT SUBMITTED TO THE DEPARTMENT OF ACCOUNTING, FACULTY
OF MANAGEMENT SCIENCES, NATIONAL OPEN UNIVERSITY OF NIGERIA,
ABUJA IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE AWARD
OF BACHELOR OF SCIENCE (B.Sc.) DEGREE IN ACCOUNTING.
NOVEMBER, 2018.
Small Scale Business Performance in NIGERIA_1
DECLARATION
I Adeyanju, Olutoyin Bunmi do humbly declare that this research work entitled THE ROLE OF
MICROFINANCE INSTITUTIONS AND SMALL SCALE BUSINESS PERFORMANCE IN
IBADAN SOUTH WEST L.G.A, IN NIGERIA is as a result of findings from my research
efforts, carried out in the supervision of Mr. Kareem Henry P. I further declare that, to the best of
my knowledge, this work contains no material previously published by another person or group
except where due acknowledgement has been made in the next in the text and stands subject to
plagiarism security.
.......................................
Adeyanju Olutoyin Olubunmi
Date:
ii
Small Scale Business Performance in NIGERIA_2
CERTIFICATION
This is to certify that this research project entitled THE ROLE OF MICROFINANCE
INSTITUTIONS AND SMALL SCALE BUSINESS PERFORMANCE IN IBADAN SOUTH
WEST L.G.A, in NIGERIA was carried out by Adeyanju Olutoyin Bunmi in the Faculty of
Management Science, National Open University of Nigeria, Abuja for the award of Bachelor of
Science (B.Sc.) Degree in Accounting.
__________________________ _____________________
Ponle H.K Date
M.Sc., MBA, B.Sc., ACM, PhD (In-View)
iii
Small Scale Business Performance in NIGERIA_3
DEDICATION
This research project is dedicated to the Almighty God, who has given me the strength
and wisdom for this achievement and my parent
iv
Small Scale Business Performance in NIGERIA_4
ACKNOWLEDGEMENT
I give Almighty God the glory, honor and adoration for the privilege given to me throughout my
four years programme in the University.
I am very much indebted to all those who contributed in one way or the other to the successful
completion of this project. I thank my supervisor in the person of Mr. H.K. Ponle who had swift
solution to all my pressing problems during the course of the write-up. I equally extend my
regards to Professor Bandele M.O., Director NOUN, Ibadan Study Centre and all the entire staff
of National Open University of Nigeria (NOUN), Ibadan study center and other staff in the
Administrative Unit for their understanding and encouragement all through the degree
programme
My sincere appreciation goes to my beloved parents for their contribution financially, spiritually,
and morally advice throughout my academic study in National Open University, Nigeria. My
thanks goes to my sister and brother, Adebisi Adeyanju and Adeniyi Adeyanju for their love,
care and support.
I will not hesitate to mention my beloved fiancé, Oluwatosin Abiona Onifade for contributing
positively to my academic life.
My warm and sincere appreciation also goes to my boss (Pastor Yinka Ogunseyinde) and the
entire staff of Yinka Ogunseyinde & Co.
To all that has contributed one way or the other you are highly appreciated, God bless you.
v
Small Scale Business Performance in NIGERIA_5
ABSTRACT
The study is aimed at exploring the effects of microfinance institutions (MFIs) on the survival of
SMEs in Ibadan south-west L.G.A, in Nigeria. One of the major challenges of SMEs business
despite its importance to economic development is finance. It is however discovered that micro
finance banks through their various micro finance schemes, can play significant role in small
business development. This work therefore examined the effect of micro finance scheme on the
performance SMEs Enterprise in Ibadan South West Local Government. The methodology
adopted in this study is mainly from primary source which includes questionnaire and personal
interview. In the area of secondary sources, documented materials used include textbooks,
journals, conference and seminar papers, newspapers, the internet and other non-classified
documents. Simple percentage and Chi-square statistical method were used to analyse the data
collected before reaching conclusion. The findings of the research indicated that micro finance
banks financing scheme positively affected the SMEs enterprises in Nigeria. The
recommendation is that it is important for SMEs to understand the source of its funds and the
costs associated with the funds.
vi
Small Scale Business Performance in NIGERIA_6
TABLE OF CONTENT
Page
Title Page i
Declaration ii
Certification iii
Dedication iv
Acknowledgements v
Abstract vi
Table of Contents vii
List of Tables ix
CHAPTER ONE: INTRODUCTION
1.1 Introduction 1
1.2 Background of the Study 2
1.3 Statement of the problem 4
1.4 Objectives of the study 6
1.5 Research question 6
1.6 Statement of the Hypothesis 7
1.7 Significance of the study 7
1.8 Scope of the study 8
1.9 Definition of terms 8
CHAPTER TWO: LITERATURE REVIEW
2.0 Introduction 10
2.1 Conceptual framework 10
vii
Small Scale Business Performance in NIGERIA_7
2.2 Theoretical framework 15
2.3 Literature on the subject 17
CHAPTER THREE: RESEARCH METHODOLOGY
3.0 Area of study 32
3.1 Research of Design and Sources of Data 32
3.2 Study Population and Determination of Sample Size 33
3.3 Instrumentation 33
3.4 Procedure for Data Collection and Data Analysis 34
3.5 Limitations of the study 35
CHAPTER FOUR: DATA ANALYSIS, FINDINGS, AND CONCLUSION
4.0 Data analysis, findings and discussion 36
4.1 Findings of the study 36
4.2 Test of Hypothesis 43
4.3 Discussion of the findings 45
CHAPTER FIVE: CONCLUSION AND RECOMMENDATION
5.0 Summary of findings 46
5.1 Conclusions 46
5.2 Recommendation 47
5.3 Proposal for Further studies 48
References 49
Appendix 52
viii
Small Scale Business Performance in NIGERIA_8

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