THE IMPACT OF MICRO FINANCIAL INSTITUTIONS ON THE GROWTH ON SMALL AND MEDIUM SCALE BUSINESS
CHAPTER ONE
1.1 Background Of The Study
Microfinance constitute the facilitation of financial services to meet the needs of low income individuals such as micro-entrepreneurs, through the provision of small loans (microloans), small savings deposits (micro-savings), micro-insurance and enhancing simple payments services required by micro-entrepreneurs and economically active poor people who cannot gain access to financial services provided by the formal banking sector.(USAID, 2000). The loans provided are small in amount and directed for entrepreneurial ventures. The loans are collateral free and grouped based and mostly direct to entrepreneur, generally with low interest charges or interest free .This is because of their ability to handle meager amount of money profitably (UNITUS, 2000
The National Council of Industries define SMEs as those business enterprises having a total cost excluding land not more than two million naira (N2, 000,000) only. SMEs are also defined by the federal ministry of commerce and industry as those business enterprises with paid employees of up to 50 persons and with a total investment worth up to 750000 excluding cost of land. SMEs play significant roles towards the economic development of the nation. This roles include technological and industrial development, Employment generation, Technology acquisition, capacity building, promoting growth, increased standard of living, industrial spread, serving of large scale industries, export promotion, rural development, Innovation. The research seek to investigate the impact of micro financing on the growth of small and medium scale businesses in lagos Nigeria.
1.2 Statement Of The Problem
Several years after the policy on micro financing, a greater number of the poor and vulnerable poor segment are yet to fully maximize the benefit of financial services of obtaining micro credit facility for entrepreneurial businesses. The National Council of Industries define SMEs as those business enterprises having a total cost excluding land not more than two million naira (N2, 000,000) only. SMEs are also defined by the federal ministry of commerce and industry as those business enterprises with paid employees of up to 50 persons and with a total investment worth up to 750000 excluding cost of land. SMEs play significant roles towards the economic development of the nation. This roles include technological and industrial development, Employment generation, Technology acquisition, capacity building, promoting growth, increased standard of living, industrial spread, serving of large scale industries, export promotion, rural development, Innovation. It is pertinent to note that while the microfinance bank are willing to disburse funds to this segment they are however constraint by limited financial resources to meet the large number of client wanting to obtain micro credit.
Savings deposit is low due to the nature of the activities carried out by the segment. Consequently there is the need to re-appraise the activities of micro financing on the performance of small and medium scale enterprise with a view to determing the challenges Confronted by micro finance banks towards the effective delivery of their constitutional mandate to provide financial service to the economically active but poor segment of the society. Therefore the problem confronting the research is to determine the impacts of micro financing on the growth of small and medium scale businesses in Lagos Nigeria
1.3 Objectives Of The Study
To determine the impact of micro financial institutions on the growth of small and medium scale business in Lagos Nigeria
1.3 Research Questions
- What is the nature of micro financial institutions and small and medium scale business in Lagos Nigeria?
- What is the level of impact of micro financial institutions on the growth of small and medium scale business in Lagos Nigeria?
1.4 Significance Of The Study
The study proffers an appraisal of the impact of micro financial institutions on the growth on small and medium scale business in Lagos Nigeria
1.5 Research Hypothesis
Ho The level of impact of micro financial institutions on the growth of small and medium scale business in Lagos Nigeria is low
Hi The level of impact of micro financial institutions on the growth of small and medium scale business in Lagos Nigeria is high
1.6 Scope Of The Study
The study focuses on the appraisal of the level of impact of micro financial institutions on the growth of small and medium scale business in Lagos Nigeria
It shall also serve as vital source of information to policy makers
1.7 Limitations Of The Study
The study was confronted by some constraint including logistics and geographical factors.
1.8 Definition Of Terms
SME
The National Council of Industries define SMEs as those business enterprises having a total cost excluding land not more than two million naira (N2, 000,000) only. SMEs are also defined by the federal ministry of commerce and industry as those business enterprises with paid employees of up to 50 persons and with a total investment worth up to 750000 excluding cost of land
Microfinance Bank
Microfinance constitute the facilitation of financial services to meet the needs of low income individuals such as micro-entrepreneurs, through the provision of small loans (microloans), small savings deposits (micro-savings), micro-insurance and enhancing simple payments services required by micro-entrepreneurs and economically active poor people who cannot gain access to financial services provided by the formal banking sector.(USAID, 2000).
CHAPTER TWO
2.0 Literature Review
2.1 Introduction
The review of relevant literature is the main topic of this chapter. A literature review covers theoretical and methodological contributions to a certain issue in addition to the state of knowledge at the time of writing. It provides information about the state of the art in relation to the subject you are writing about. It examines the body of work on the chosen subject. The literature evaluation in this study comprises the …
Procedure for Downloading the PDF (Docx) Material
The Impact of Micro Financial Institutions on the Growth on Small and Medium Scale Business can be downloaded by requesting the full set of materials at the project or seminar cost. The document will be sent via Microsoft Word (MS-Word) format via WhatsApp (e-mail) following payment confirmation.
| Seminar Material Cost ₦3,000 | Project Material Cost ₦5,000 |
Request Complete Material
 | Click here to request the Complete Material via WhatsApp including;
|
Disclaimer for Complete Material Utilization
The displayed research work titled "The Impact of Micro Financial Institutions on the Growth on Small and Medium Scale Business" is stated as a research guideline towards accomplishing your assigned project / seminar research work. All the research materials on this website are ONLY for research purposes and should be used as a guideline in developing your research work. For no reason should you copy word for word as projectlist.com.ng will not be liable for any who copied the material. By ordering the complete research guideline, it signifies that you've accepted our terms of service.
Frequently Asked Questions (FAQ)
Can the material for “Structural Analysis of the Itsekiri Noun Phrase” be used as a guide for Linguistics and Communication Project?
Yes it can be used — Noun phrase also known as nominal phrase (abbreviated as NP) is a type of phrase which has a noun or an indefinite pronoun as head word of its phrase. The study entails the structural analysis of the noun phrase, structure of the Itsekiri language. This study shall present data and thorough analysis would be executed to support findings about the Itsekiri noun phrase. The aim of the study is to examine the Structural Analysis Of The Itsekiri Noun Phrase. In achieving this aim, the following specific objectives were laid out to identify and analyse the syntactic structure of the noun phrase of Itsekiri language with the aid of X-bar theory, serve as a useful material or document for students of …
Can the material for “The Need for Guidance and Counseling Services Among Nigeria University Students” be used as a guide for Guidance and Counselling Project?
Yes it can be used — Guidance and counseling is a practice that had been in existence for a long time and had been passed on from one generation to another. The study was carried out to examine the Need for Guidance and Counseling Services among Nigeria University Students. In achieving this aim, the following specific objectives were laid out to establish the approaches used in guidance and counseling in solving University students disciplinary problems in Nigeria and determine the factors that hinder effective guidance and counseling of University Students in Nigeria. Provision of guidance and counselling services is one of the educational policies of the federal government to cater for the apparent ignorance of many young people about career prospects and personality maladjustment among Nigeria …
Can the material for “Information and Communications Technology (ICT) in Business Education Courses: Availability and Use” be used as a guide for Information Technology Project?
Yes it can be used — The study examines the Availability and Utilization of ICT in Teaching and Learning Business Education Courses in Ebonyi State University Abakaliki. The survey design was adopted in the study. A population of 200 respondents was used in the study. A sample of 133 respondents comprising business education students was selected using the simple random sampling technique. The technique of Mean and frequencies were employed in data analysis. The findings of the study indicate interactive ICT facilities are grossly lacking for teaching and learning of business education courses. Also, it was revealed in the study that interactive ICT are not utilized for teaching business education courses. Non interactive ICT devices were also revealed to be lacking for teaching of business education …
Can the material for “The Effect of Credit Policy on Bad Debt Management in Nigerian Banks” be used as a guide for Banking and Finance (BF) Project?
Yes it can be used — The principal task of bank management is to generate sufficient return on their shareholders investment. However, of recent, there have been criticisms and allegations of bad and doubtful debts reported by banks annually. This raise the question as to whether banks accomplish the task of maximizing shareholders returns on their investment and whether the banking system is still one of the most enviable and profitable investment options in Nigeria. In the study, an attempt was made to identify the causes of bad and doubtful debts, effects on banks profits and investment and how they can be ameliorated with the use of appropriate securities and management teams put in place. The study made use of secondary data collected from fifteen-year annual …
Can the material for “The Role of Internal Auditing on Management’s Control Success” be used as a guide for Accounting Technology Project?
Yes it can be used — This study was to examine and find out the role of auditing on management’s control success with a particular reference to the Department of Audit, Ministry of Finance, Uyo, Akwa Ibom State. To achieve this objective, four research questions and three research hypotheses were formulated to guide the researcher study. The data collected were analyzed using simple percentages and tables to analyze research questions, and Chi-square statistical tool was used for testing the research hypotheses. A structured questionnaire was used as the major instrument for data collection from the staff and management of Department of Audit, Ministry of Finance, Uyo. After careful analysis of the data, the following findings were revealed that; auditing enhances accountability in public sector in Nigeria. …
Can the material for “The Impact of Trade Union and Industrial Relation Practice on Organisational Peace” be used as a guide for Industrial Relations and Personnel Management (IRPM) Project?
Yes it can be used — In this project work, an attempt has been made to study how the impact of Trade Union andindustrial Relations Practice on Organizational Peace’ and Harmony, using Union bank of Nigeria as a case of Study, As Trade Union implies as a continuous association of wage earners for the purpose of maintaining and improving the conditions of their working lives. This view pointed out the calibre of people forming Trade Union and the purpose for which Trade Union is established. Therefore, there is the need to evaluate the role of Trade Union and Industrial Relations practice on Organizational Peace and Harmony because Trade Union represents any avenue through which issues relating to workers are discussed. As a result of this, management and …
Is the topic “Food Hygiene Knowledge and Practice Among Roadside Food Vendors” recommended for Food and Nutrition Project?
Yes it is highly recommended — Food vending plays an imperative role in the cities of many developing countries. It attempts to meet the food demands of the urban dwellers. The study was carried out to examine the Food Hygiene Knowledge and Practice among Roadside Food Vendors in the FCT Abuja. In achieving this aim, the following specific objectives were laid out to determine the practice level of food hygiene among roadside food vendors and examine the relevance of food hygiene practice among food vendors towards the health benefit of consumers residing in the FCT Abuja. The research design used in this report is descriptive design, utilizing questionnaire method to obtain information from the respondents for this project. A total of 80 (eighty) respondents were selected …
Can the material for “Achieving Quality Service Delivery in the Banking Sector Through Information Communication” be used as a guide for Banking and Finance (BF) Project?
Yes it can be used — This study investigates how service delivery in the banking sector is achieved through information communication. The broad objective of the study is to find out if customers respond positively to the information technology items such as the ATM and also to ascertain if banking industry have any problem in adopting the information technology as a means of operative in service delivery. Banks have the problem of inability to meet with it’s raising population of customers, and thus, information technology is paramount which helps in boosting workers morale and shielding customers’ confidence. The study uses the primary source of data to collect through stratified questionnaire. A sample size of 30 was used which was chosen using the simple random sampling technique …
Can the material for “Right and Responsibilities of a Bank to Their Customers” be used as a guide for Banking and Finance (BF) Project?
Yes it can be used — This is a research on the right and responsibilities of banks to their customers. The research sort to know the bank right right and responsibilities to their customers which has bee in existence in banking operation and has been felt by the people and to the extent, their objectives has been achieved. In carrying out this research the researcher made use of oral interviews, questionnaire and library and the finding were rights and responsibilities of banks to their customers, which has been felt through many areas of their promotional activities such as loan advancement. It has been find out that banks charges commission to their customers, banks accept money from their customers, and banks a turn irregular instrument to their customers, all his …
Can this topic “Technical Efficiency in Food Crop Production in Uhunmwode Local Government Area of Edo State, Nigeria” be used for Crop Production Project?
Yes it can be utilized for research — This project is based on the technical efficiency in food crops production in Uhunmwode Local Government Area of Edo State. Data were collected from fifty food crops production farmers to ascertain the effectiveness and enhancement of technical efficiency in food crops production. The result showed that family labour, hired labour and material input were the prime factors responsible for the change in output of food crops production. A range of technical efficiency was observed across the sampled farms. The best farm has technical efficiency of 40%while the worse farm has a technical efficiency of 10%. This was attributed to the improper usefulness of available resources. At this juncture, the researcher recommended that government should implement policies and programmes that are …