Financial Bootstrapping and Small Business Growth in Lagos Metropolis, Nigeria

Ik Muo, Moruff Sanjo Oladimeji and O. I. Okunbadejo
Additional contact information
Moruff Sanjo Oladimeji: Department of Business Administration, Faculty of Administration and Management Sciences, Olabisi Onabanjo University, Ago-Iwoye, Nigeria
O. I. Okunbadejo: Department of Business Administration, Faculty of Administration and Management Sciences, Olabisi Onabanjo University, Ago-Iwoye, Nigeria

Business & Management Compass, 2020, issue 2, 198-213

Abstract: This study sought to examine the effect of financial bootstrapping on small business growth in Lagos metropolis, Nigeria. The study adopted a survey research design and the primary data was sourced through structured questionnaire. Simple random sampling was used to obtain a sample of 207 small business owners in Lagos metropolis. However out of the 207 copies of the questionnaire administered, only 149 copies were duly filled and returned which shows a response rate of 71.98%. Descriptive statistics and regression analysis were adopted as the statistical analysis techniques. The results revealed that owners related finance is not statistically significant to small business growth because the half of Beta value is less than standard error value (?/2 .05% confident level), It is also revealed that delay payment has a negative and insignificant effect on the growth of small businesses in Lagos metropolis (?= -.012; P-value= .855). The overall results indicate that financial bootstrapping does not have significant effect on small business growth in Lagos metropolis. The study recommends that government should formulate policies to encourage financial institutions to offer credit facilities for small business owners which will enable them to complement their financial bootstrapping strategies.

Keywords: Owners’ related finance; joint utilization of resources; delay payment; small business growth (search for similar items in EconPapers)
JEL-codes: M1 M10 M13 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://journal.ue-varna.bg/uploads/20200817095320_17017987325f3a5390476d2.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:vrn:journl:y:2020:i:2:p:198-213

Access Statistics for this article

Business & Management Compass is currently edited by Julian Vasilev

More articles in Business & Management Compass from University of Economics Varna Contact information at EDIRC.
Bibliographic data for series maintained by Yana Doneva ().