The Impact of Nerfund on Small and Medium Enterprises
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Abstract
The research focused on the impact of NERFUND on small and medium enterprises in Jos Metropolis. The objectives of this work are; to appraise financial challenges of small and medium scale enterprises, to appraise the effectiveness of various SME agencies set up by the federal government to promote activities of SMEs and to examine the impact of NERFUND on small and medium scale enterprises in Jos South Local Government. The research design of this study is a survey design; the survey design was adopted due to its scientific and philosophical assumption which guarantees the application of sampling and generalization of the research findings. The target population of the study is 100 and the sample size using the Taro Yamane formula was 50. Secondary data was used to develop the literature review and primary data was use to collect the data which was presented and analyze using simple percentage method. The findings of this work are; accessing intervention fund requires legal mortgage whereby so many SMEs do not have the requirement to loan, there was internal bank guarantor which is very difficult for SMEs to obtain loan and there is effective research and development output among SMEs owners. The recommendations of the study by the researcher were; risk can be reduced in small scale enterprises if the central bank of Nigeria and the government can do more than they are currently doing, in order to make credit available to small scale enterprises, the government and the public should introduce the use of rural banking programme, the government should combine savings scheme for small scales industrial sector with their credit programme such as a scheme would provide further means of financing the government and create attachment of the industrialist to the government and also solve the problem of very short moratorium period granted by government to small scale enterprises.
Keywords
Nerfund, Small and Medium Enterprises
References
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