Achieving Sustainable Development in Business Productivity in Nigeria: An Equity Financing Model Approach

Ihemeje J. C., Efanga Udeme Okon, Umoh Emmanuel Alphonsus, Okafor M. C. and Egwu Emmanuel Makoji
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Ihemeje J. C.: College of Management Sciences, Michael Okpara University, Umudike, Nigeria
Efanga Udeme Okon: Department of Banking and Finance, Faculty of Management Sciences, University of Calabar, Nigeria
Umoh Emmanuel Alphonsus: Department of Statistics, Akwa Ibom State Polytechnic, Ikot Osurua, Nigeria
Okafor M. C.: Department of Accounting, Michael Okpara University, Nigeria
Egwu Emmanuel Makoji: Department of Business Administration, Kogi State University, Nigeria

International Journal of Economics and Financial Research, 2020, vol. 6, issue 11, 249-256

Abstract: Equity financing is one of the sources of funding available to non-bank financial institutions which is quite prevalent in developed financial markets for small or start-up firms. This study empirically determined the effect of the Equity Financing Scheme on a sustainable increase in productivity of agro-allied small businesses in Nigeria. Data for this study were elicited through the use of a questionnaire structured in a five-point likert scale. The evaluation of the relationship between the dependent and independent variables was performed using the Ordinary Least Square regression technique. The study revealed that the equity financing scheme had a positive and significant effect on the sustainable productivity of agro-allied small businesses in South-South Nigeria. The study recommended that efforts should be made to educate the small business entrepreneurs on the benefits of equity financing as a viable option towards business growth and expansion and that the government through the various intervention agencies should restructure the long-term loan policies to give access to more growth-oriented agro-allied businesses, to increase their presently low capacity to procure heavy-duty technology to increase productivity and achieve food security in Nigeria. Small business owners should take advantage of the membership of cooperative societies and as well maintain good business relationships with suppliers; this will guarantee a continuous supply of needed materials and uninterrupted operations of the business.

Keywords: Equity financing scheme; Sustainability; Business productivity. (search for similar items in EconPapers)
Date: 2020
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