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International Journal of Innovation and Research in Educational Sciences

Microfinance Credits and Growth of Business Firms in Nigeria

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Year:
2019
Type of Publication:
Article
Keywords:
Credit, Microfinance, Small and Medium Business, Growth, Nigeria
Authors:
  • Bakare, Muideen Abiola
Journal:
IJIRES
Volume:
6
Number:
6
Month:
November
ISSN:
2349-5219
BibTex:
Abstract:
The paper investigates the relationship between microfinance credit and small and medium business growth in Nigeria, for the period 2006-2014. The results from panel data analysis show that bank credit has negative and statistically insignificant relationship with business growth in Nigeria. The result suggests that credit provision from banks have no apparent effect on growth of businesses. In addition, sales of the firms and the loans obtained by the firms are statistically significant suggesting that assets of businesses would grow with increase in sales over time. Also, loan, a source of business finance, if assessed on regular basis, subject to the need of the business, would lead to increase in asset drive of businesses.
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