Modern Funding For Small Scale Business for Overall Growth of Economic Development

Adekanmbi, J. A., Augustine Sunday Oge, Talabi, A. O.

Abstract


This paper focuses on the new funding methods for small scale business (SSB) for overall growth of economic development in Nigeria.  Base on the emphasis on the small scale business in Nigeria, the nation has been able to benefit tremendously from the promotion of small scale business. However, the study reveals the old and common means of finance available to SSBs. It went further to emphases on some new modern methods of funding accrued to SSBs. The problems associated with finances of small scale business in Nigeria were also discussed to reveal the major constraints. Therefore, Recommendations were made among which include. There is need to strengthen the link between the research and development institutions and business enterprises to provide feedback on the requirements for assessment of the modern or new funds available for the benefit of the small business as a pre-requisite for the overall growth of economic  development in Nigeria.

 

 


Keywords


Economic Development, Economic Growth, Employment, Entrepreneurs, Finance, Investment and Small Scale Business.

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