SMEs funding: an assessment of an intervention scheme in Nigeria

Iretioluwa O. Oyefuga, Willie O. Siyanbola, Oladele O. Afolabi, Abolaji D. Dada and Abiodun Egbetokun

World Review of Entrepreneurship, Management and Sustainable Development, 2008, vol. 4, issue 2/3, 233-245

Abstract: This study evaluates the impact of the Small and Medium Enterprises Equity Investment Scheme (SMEEIS) on the growth of Nigerian SMEs. Questionnaires and interviews were used to sample firms and commercial banks in Lagos, an industrially active environment. Uncoordinated business plans and poorly packaged projects were found to be the most significant reasons why SMEs could not access funds from the scheme. Although the scheme had been helpful to some SMEs, most of them were not aware of its activities and potentials. Operators of the scheme should therefore make efforts to further create awareness and educate the entrepreneurs.

Keywords: SMEs; small and medium-sized enterprises; SMEEIS; SME funding; economic development; SME growth; Nigeria; entrepreneurship; equity investment; funding rejection. (search for similar items in EconPapers)
Date: 2008
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:ids:wremsd:v:4:y:2008:i:2/3:p:233-245

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