Sources of Financing Small Scale Enterprises in Bida, Niger State, Nigeria

AMINA MOH’D DOKO, HABIBA BAKO MOHAMMED & ALKALI LARAI FATI

Department of Marketing, Federal Polytechnic, Bida

Department of Business Administration Federal Polytechnic, Bida

Department of Business Administration Federal Polytechnic, Bida, Niger State.

Email: Aminadok@yahho.com,

ABSTRACT

Over the years the inability of small scale enterprises (SSEs) in Nigeria to serve as an engine growth has been attributed majorly to lack of finance. This study identifies the major sources of financing small scale enterprises in Bida, Niger State. Data were collected using the multistage random sampling technique from 60 Small Scale Enterprise owners. Data obtained from survey were analyzed using a regression Model. The results show that Loan from co-operative, Family, Friends and Savings significantly determine the sources of finance in the study area, whereas Microfinance Banks was found not statistically significant. The study recommends monitoring and creating more awareness to the public on the importance of entrepreneurial programmers’ and establishing schemes that will enhance Small Scale Enterprise financing.

Keywords: Small Scale Enterprises, Source of Finance, Entrepreneurial Programmes’ & Establishing Schemes.