THE CONTRIBUTIONS OF UNITED BANK FOR AFRICA TO THE DEVELOPMENT OF SMALL SCALE ENTERPRISES IN KADUNA STATE
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THE
CONTRIBUTIONS OF UNITED BANK FOR AFRICA TO THE DEVELOPMENT OF SMALL SCALE ENTERPRISES
IN KADUNA STATE
ABSTRACT
This
study focuses on the contribution of Untied Bank for Africa to the Development
of Small Scale Enterprises. It aims at evaluating the contribution of United
Banks in financing small scale businesses, identifying challenges of accessing
bank loans as well as possible factors hindering implementation of credit
policies by banks. To achieve this, the survey research design was adopted with
oral interviews and questionnaires to elicit responses. The simple percentages
and chi – square (c2) test statistics were used in analyzing the data
and determining the tenability of the hypotheses formulated. Unaffordable terms
of capital, challenges in accessing bank loans and advances and factors
hindering implementation of credit policies were found to be more challenging,
the researcher recommends that banks should make available capital an
affordable terms ensure regular routine check on businesses, educate
entrepreneurs through managerial workshops and government should enforce
implementation of credit to policy to boost the development of small
businesses.
TABLE OF CONTENTS
Title Page - - - - - - - - - - i
Declaration - - - - - - - - - ii
Approval Page - - - - - - - - - iii
Dedication - - - - - - - - - - iv
Acknowledgment - - - - - - - - v
Abstract - - - - - - - - - - vii
Table of Contents - - - - - - - - viii
CHAPTER
ONE: INTRODUCTION
1.1 Background of the study - - - - - - 1
1.2 Statement of the Problem - - - - - - 2
1.3 Objectives of the Study - - - - - - 3
1.4 Significance of the Study - - - - - - 3
1.5 Research Questions - - - - - - - 4
1.5.1 Statement of Hypotheses - - - - - - 5
1.6 Scope of the Study - - - - - - - 5
1.7 Limitation of the Study - - - - - - 6
CHAPTER
TWO: LITERATURE REVIEW
2.1 Introduction - - - - - - - - 7
2.2 Definition of Small Scale Enterprises - - - - 7
2.3 Benefits of Small Businesses - - - - - 10
2.4 Problems and Challenges of Small Scale
Businesses - 11
2.5 Financing Small Scale Enterprises - - - - 14
2.6 Definition of Bank - - - - - - - 19
2.7 Roles of Banks in the Development of Small
Scale Business 21
2.8 Summary of the Review - - - - - - 22
CHAPTER
THREE: RESEARCH METHODOLOGY
3.1 Introduction - - - - - - - - 24
3.2 Research Design - - - - - - - 24
3.3 Area of the Study - - - - - - - 24
3.4 Population of the Study - - - - - - 25
3.5 Sample Size and Sampling Technique - - - - 25
3.6 Instrument of Data Collection - - - - - 25
3.7 Validation of Instrument - - - - - - 26
3.8 Reliability of Instrument - - - - - - 26
3.9 Method of Data Collection - - - - - - 27
3.10 Method of Data Analysis - - - - - - 27
CHAPTER
FOUR: DATA PRESENTATION AND ANALYSIS
4.1 Introduction - - - - - - - - 29
4.2 Characteristics of the Respondents - - - - 29
4.3 Data Presentation and Analysis - - - - - 30
4.4 Testing of Hypothesis - - - - - - - 33
4.5 Summary of Findings - - - - - - - 36
4.6 Discussion of Findings - - - - - - 36
CHAPTER
FIVE: SUMMARY, CONCLUSION AND RECOMMENDATION
5.1 Summary - - - - - - - - - 39
5.2 Conclusion - - - - - - - - - 41
5.3 Recommendations - - - - - - - 42
5.4 Suggestion for Further Study - - - - - 43
Bibliography - - - - - - - - 44
Appendix I - - - - - - - - - 46
Appendix II - - - - - - - - 47
CHAPTER ONE
INTRODUCTION
1.1 Background
of the Study
In
both developed and developing countries, the small scale industry is seen as
the vehicle for rapid industrialization, sustainable economic growth and
development, poverty alleviation as well as the seed bed of innovation and
employment generation. It goes without saying therefore, that small scale
enterprises have the potential of becoming the engine of the economic growth in
any country (http://www.snbd.com,
July 8 2010).
Because
of this paramount importance of small scale businesses, there has been a
pressing need for the involvement of banks in financing its development in
Nigeria and Kaduna in particular. This is due to the fact that banks loans
constitute the most important source of institutional financing for both
start-up and growing enterprises.
It
is the realization of this fact that made the government to establish various
schemes and programmers in the past to enhance credit availability to small
scale enterprise in Nigeria. In recent time now however, the Nigeria bankers
committee in 1999, approved the scheme requiring all banks in Nigeria to set
aside 10 percent of their profit before Tax (PBT) for equity development in
small scale and medium scale industry.
Despite
these measures, many small scale businesses with economic potentials for growth
often fail and close down due to lack of funds, insufficient working capital,
lack of managerial experience and skilled labor, poor accounting records as
well as lack of infrastructural facilities (central Bank of Nigeria: the
billon, October/December 2004:58-b5)
Thus,
how banks have contributed to improving the aforementioned challenges and the
expectations, regarding the development of small scale enterprise in Kaduna are
the issues discusses in research work.
1.2
Statement of the Problem
Although
the small scale enterprise is regarded as the bedrock of industrialization of
an economy, attempts made by many entrepreneurs to start and operate them have
met with high percentage of failures, lack of fund and insufficient working
capital have identified as some of the cause of such failures. The study
therefore seeks to answer such questions as; have banks been able to make
available capital on affordable terms to small scale enterprise? What measures
have been put in place to ensure that such funds are effectively used by
enterprises? Does small scale enterprise actually have easy access to credit
facilities? These and more issues constitute the problems that necessitate this
research work
1.3 Objective
of the Study
The
objective of this research work are :
i.
To evaluate the role of banks in
financing small scale enterprise in Kaduna.
ii.
To indentify challenges faced by
small scale businesses in accessing loans
iii.
To identify possible factors handing
implantation of credit policies on loans and advance to small scale
entrepreneur.
1.4 Significance of the Study
The
significance of this study is that, it shows the relevance of banks in
financing small scale businesses, thus enhancing business growth and expansion
an attainment of goals and objective of the business. It is also beneficial for
formulation of policies and programmes by the federal and state government as
they might be looking forward to taking necessary steps to prevent the collapse
or failure of small scale businesses in Nigeria and Kaduna in particular.
Again, it will enable the entrepreneurs to have more understanding of how
businesses should be financed, thus having knowledge on funding further
research in this area.
1.5 Research
Questions
For
the purpose of this research work, the following questions would serve as a
guide to evaluate the development role played by the united bank for African
(UBA) plc.
i.
Is capital made available on affordable
terms to small scale enterprise?
ii.
Are there challenges facing small
scale enterprise in accessing bank loan?
iii.
What factor hinders implementation of
credit policies on loans and advances to small scale entrepreneurs?
1.5.1 Statement of Hypotheses
H0: Capital is not made available to small
business on affordable terms.
H1: Capital is made available to small business
on affordable term.
H0: There are no challenges facing small scale
business in accessing bank loans and advances.
H1: There are challenges facing small scale
business in accessing bank loans and advances.
H0: There are no factors hindering
implementation of credit policies on loans and advances to small scale
businesses.
H1: There are factors hindering implementation
of credit policies on loans and advances to small scale businesses.
1.6 Scope
of the Study
This
research work is limited to cover the development in terms of financing the
small scale business enterprise in Kaduna using the united Bank for Africa Plc as
a case study, with a view to highlighting related problems and proposing
solutions to the problems.
1.7 Limitation of the Study
This
study is constrained by the cost of acquiring information as the researcher had
to browse on the internet, search academic journals and books relating to the
subject matter of the research work. Also, considering limited time, other
competition course works with this study does not allow for exhaustive research
work.
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