Impact of Nigeria Financial Market on Small and Medium Scale Enterprises (SMEs) In Nigeria: A survey of some SMEs in Gusau Metropolis.
Bamidele Vincent Olawale, Ayibiowu Stephen Idowu, Nwogu Jorji Akudo, Attahiru Yahay
Abstract
This research work evaluates the impact of the Nigerian financial markets on small and medium scale enterprises (SMEs) in Nigeria, using some selected small and medium scale enterprises in Gusau metropolis as case study. Specifically, the study aims among others to examine if there is any significant relationship between Financial Markets and Small and Medium Scale Enterprises in Nigeria. Data were collected using a well structured and tested questionnaire administered on 250 small and medium scale business owners in some strategic locations in Gusau metropolis, Zamfara State. The data collected were analyzed using frequency table and simple percentage. Hypothesis formulated was tested using t-test at a decision rule of P > 0.05 and the hypothesis was retained. The findings of this study affirm a positive and significant relationship between financial markets and small and medium scale enterprises in Gusau metropolis. The study recommends among others that financial institution is to be charged to keep the ball rolling in financing small scale enterprises as well as enhancing and uplifting the growth of the economy, Also the government should engage more in the development of Small Scale Enterprises by creating and embarking on various incentives to encourage both Small Scale Enterprises and financial market
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