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Appraisal of government funding schemes on the development of small and medium enterprises in Nigeria: a study of Enugu state

Obiageri Monica Ugwu-oju (Department of Management, University of Nigeria - Enugu Campus, Enugu, Nigeria)
A. Vincent Onodugo (Department of Management, University of Nigeria - Enugu Campus, Enugu, Nigeria)
Chigozie Paulinus Mbah (Business Administration, Enugu state University of Science and Technology, Enugu, Nigeria)

World Journal of Entrepreneurship, Management and Sustainable Development

ISSN: 2042-5961

Article publication date: 1 May 2020

Issue publication date: 2 June 2020

267

Abstract

Purpose

This paper aims to examine the effectiveness of government funding schemes for small and medium enterprises (SMEs) in Nigeria.

Design/methodology/approach

The survey method of inquiry was adopted, wherein a structured questionnaire was used to generate data. Using Guilford and Flruchter (1973) formula, a sample size of 276 was derived from a population of 890 registered SMEs. Data analysis was conducted using SPSS version 20.0 tools.

Findings

The results of the analysis reveal that a significant number of SMEs were aware of government funding schemes, but insignificant number succeeded in accessing the funds. It further reveals that the nature and conditionality of the funds and management capacity of SMEs were major hindrances to the effectiveness of the funding schemes.

Originality/value

The inquiry is completely original and has the potency of influencing policy formulation and implementation in the area of industrial funding.

Keywords

Citation

Ugwu-oju, O.M., Onodugo, A.V. and Mbah, C.P. (2020), "Appraisal of government funding schemes on the development of small and medium enterprises in Nigeria: a study of Enugu state", World Journal of Entrepreneurship, Management and Sustainable Development, Vol. 16 No. 3, pp. 165-179. https://doi.org/10.1108/WJEMSD-08-2019-0067

Publisher

:

Emerald Publishing Limited

Copyright © 2020, Emerald Publishing Limited

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