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SMEs funding: an assessment of an intervention scheme in Nigeria

Author

Listed:
  • Iretioluwa O. Oyefuga
  • Willie O. Siyanbola
  • Oladele O. Afolabi
  • Abolaji D. Dada
  • Abiodun A. Egbetokun

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.

Suggested Citation

  • Iretioluwa O. Oyefuga & Willie O. Siyanbola & Oladele O. Afolabi & Abolaji D. Dada & Abiodun A. Egbetokun, 2008. "SMEs funding: an assessment of an intervention scheme in Nigeria," World Review of Entrepreneurship, Management and Sustainable Development, Inderscience Enterprises Ltd, vol. 4(2/3), pages 233-245.
    • Handle: RePEc:ids:wremsd:v:4:y:2008:i:2/3:p:233-245
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    Citations

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    Cited by:

    1. Abiodun Tope Samson, 2015. "The Impact of Entrepreneurial Orientation, Reconfiguring Capability and Moderation of Environmental Turbulence on Export Performance of SMEs in Nigeria," Journal of Economics and Behavioral Studies, AMH International, vol. 7(3), pages 76-87.
    2. A.A. Egbetokun & W.O. Siyanbola & A.A. Adeniyi, 2010. "Learning to innovate in Nigeria's cable and wire manufacturing subsector: inferences from a firm-level case study," International Journal of Learning and Intellectual Capital, Inderscience Enterprises Ltd, vol. 7(1), pages 55-74.
    3. Ahmad Bello Dogarawa, 2011. "Chronology of banking reforms in Nigeria," Journal of Financial Regulation and Compliance, Emerald Group Publishing Limited, vol. 19(4), pages 370-382, November.
    4. A.A. Egbetokun & A.A. Adeniyi & W.O. Siyanbola & O.O. Olamade, 2012. "The types and intensity of innovation in developing country SMEs: evidences from a Nigerian subsectoral study," International Journal of Learning and Intellectual Capital, Inderscience Enterprises Ltd, vol. 9(1/2), pages 98-112.

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