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The Role Of Commercial Banks In Small Scale Entrepreneurial Development In Enugu State
[CASE STUDY OF UBA AND UNION BANK OF NIGERIA PLC]
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1.7 LIMITATION OF THE STUDY
In view of the current emphasis on industrialization of the country in
order to reduce the country’s import bill from foreign countries, the
study focuses attention on the evaluation of the ability of small scale
entrepreneurs to obtain loans from the commercial banks to attain the
needed level of productivity of their enterprises. The research covers
selected small scale entrepreneurs in Enugu State. For the period of
three weeks. Some of the difficulties encountered by the researcher were
the unco-operative attitudes of many of the banks’ officials approached
and some of the small scale entrepreneurs who misconstrued the essence
of the study.
Another problem is that of lack of time on the side of
respondents to answer the questionnaires in details coupled with the
high fare of public transportation. This greatly increased the cost of
production and limited the scope of areas covered by this study. Also
difficulties were encountered in collecting data from the banks used as
case study. Some of the questions in the questionnaire were not answered
inspite of the university’s inscription on the questionnaire and the
letter of authorization by the head of department attached to it as well
as the detailed explanations given to them on the need of the study.
They insisted that some of the required information were confidential
and should not be released.
1.8 DEFINITION OF TERMS
1
Small Scale Enterprises As defined in the Nigerian context, following
the current official definition of industrial enterprises adopted by the
13th meeting of the National Council on Industry (NCI) Markudi, Benue
State in July, 2001 as “an enterprise with total capital employed of
over ₦1.50m but not more than ₦50m, including working capital but
excluding cost of land and or labour size of 11-100 workers.
2 Short term credit
This type of credit is a credit or loan that has maturity period that is less or more than one year. E.g. Personal loan.
3 Medium term credit
This
is a type of credit or loan that has a maturity period of more than one
year but not exceeding two years to be repaid back. E.g. loan required
for temporary business requirement.
4 Long term credit
This type
of credit matures in more than three years and above. It has a very
long maturity period as agreed by the lender and the borrower. E.g. are
business development loans and Bridging loans.
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ABSRACT - [ Total Page(s): 1 ]The subject matter of this research work is to evaluate the extent to which Small Scale entrepreneurs in Enugu have been able to obtain loans and raise finance from Nigerian Commercial Banks as a major source of finance to the economy. The main objective of the study is to establish the role of Commercial Banks in financing Small Scale Enterprises (SSEs) in Enugu .A review of literature was done to ensure the conclusion of the study. Based on the analysis, Commercial Banks comply with the Centra ... Continue reading---
