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The Impact Of Microfinance On Entreneurship Development In Nigeria
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Peter and Clerk (1997) affirm that entrepreneurial development is a
disposition to accept new ideas and try new methods; a readiness to
express opinions, a true sense that make men and women more interested
in the resent and future than in the past, a better sense of
punctuality, a greater concern for planning, organization and
efficiency, a tendency to seek the world as calculated a faith in
science and technology and finding a belief in distributive justice.
The
study is an attempt to show how successful entrepreneurship development
through microfinance institutions will result in creation of jobs,
develop greater skills that can be more readily adopted by local
residents (see Green et al, 1990; Kovshling and Allen 2004).
Entrepreneurial development programmes offer sustainability and
flexibility to meet broader community development needs (Dabson Ricky
and Scheveke 1994, Loyons and Hamlin 2001, Lichtentein Iyons and
Kutzandua 2004(.
1.2 STATEMENT OF RESEARCH PROBLEM
In view of the
forgoing, the Federal Government of Nigeria (FGN) has been adopting
monetary, fiscal, industrial and developmental policy measures at the
macro level to facilitate and support entrepreneurial activities and at
the same time specific financing g arrangements are being made in
respect of funding programmes at the micro level to boost
entrepreneurship activities in Nigeria.
The community banking system
is one of such programmes introduce by decree 46 of 1992 (as amended) to
finance and support the growth of entrepreneurship in Nigeria. The
micro units in agricultural transport, commerce and industry, textile,
dying tanning, vulcanizing, blacksmithing, health, architectural,
entertainment and other needs, this microfinance banking system is
evidently fraught with problems as regards to its ability to finance
projects in rural (and even semi-urban) communities. This is evident in
the reform process of the Nigerian banking system, at which the
community banks by the reform are to become Microfinance Banks (MFBs)
with a minimum of 20 million capital base by December 31st 2007.
This
research therefore, aims to make a close evaluation of the impact of
microfinance on the development of entrepreneurial activities in Bauchi
Local Government Area, with special reference to some small scale
entrepreneurs in the three districts of Galambi Bauchi and Zunhur.
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