Summary of
Finding
At the end of the analysis in chapter four of this work, so many inferences
were drawn. Based on the relevance of microfinance banks to the development of
SMEs in Nsukka, the hypothesis was rejected meaning that, most of the SMEs
don’t even know that microfinance banks exist in Nsukka.
secondly,
another hypothesis was tested to know whether the existence of SMEs has
contributed positively to the Nigeria economy. at the end the hypothesis was
rejected meaning that, the SMEs contributed to the economy has not been much as
expected due to some bottleneck like finance, infrastructure, power etc.
government has neglected the sector for so
long.
Finally,
hypothesis three tried to know if collateral security is a prerequisite for
granting loan to SMEs. at the end, the hypothesis was rejected meaning that
collateral security is not a prerequisite for obtaining loan from microfinance
banks.
Policy Recommendation
We recommend that government policies toward small and
medium enterprise (SMEs) via microfinance banks should be taken seriously. That
is microfinance banks should be able to sell their services product to SMEs owners.
As it was observed in the study that most of the SMEs owners don’t know
microfinance banks exist in Nsukka. Proper marketing must be carried out by the
microfinance banks so as to inform the uninformed SMEs owners that they can
borrow funds with the banks without tangible collateral and attend workshop on
skill acquisition and managerial training.
Conclusion
In conclusion more studies of this kind should be
conducted in order to know how best to assist small and medium scale enterprise
they have put in place whether it get to SMEs or some sets of “cabal” are
sitting on those funds. Government also should look into the tax structure that
distorts incentives and discriminate against the small and medium
scale-enterprise in order to prove their competitive position in the light of
stiff competition from large enterprise.
Finally,
SME owners should equip themselves with the latest techniques patterning their
business in order to withstand the competition within their domain.
REFERENCES
Adebusuyi, B. S. (1997).
Performance Evaluation of Small Medium Enterprises (smes) in Nigeria. Bullion
vol. 21 No 4, cbn.
Ande, J. O. and R. B. Fat (1990):
“Problem of Financing Small and Medium Size Business by Banks” first review; First
Bank Nigeria plc. Lagos.
Anyanwu, J. C. and Oluremi,
O. (1991): “financing small and medium enterprises in Nigeria; Lesson from International
Experience”. Conference proceedings o the Management of Small Medium
Enterprises in Nigeria, university of Lagos, Dec. 9-11, 1991.
CBN (2003), (SMEIEIS) “Publication
in small and medium scale industries, equity investment scheme.
Hallberg, Kristin (2000), “A
Market-Oriented Strategy or Small and Medium-Scale Enterprises”, discussion paper
no 40 international finance corporation, the World Bank
Manu, g. (1998), “Enterprises
Development in Africa – Strategies For Impact And Growth; Small Enterprises
Development Vol. 7, No 4, P. 4 -13