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RESEARCH REPORT THE CONTRIBUTION OF MICRO FINANCE BANK IN THE EMPOWERMENT OF SMALL-SCALE BUSINESS
This study reviewed the crucial role of micro Finance Bank in promoting small scale enterprise.
The purpose of this study is to provide means through which those problems facing small scale can be solved; the significant of this is to provide means in which government can assist microfinance banks will bring lasting solution to those problems facing small scale industries, in the analysis of data collected, the research used descriptive method.
All the data gathered by the researcher were tabulated and analyzed accordingly.
It is included that microfinance banks is an indispensable ingredient for efficient, effective and successful performance of an organization, it also showed that microfinance banks is the source of fund to small scale business. The study of recommendation is that small scale owners should motivate good employees because it is another key success in business enterprises.
TABLE OF CONTENT
1.1 Background Of Study
1.2 Statement Of The Problem
1.3 Purpose Of The Study
1.4 Significance Of The Study
1.5 Research Question
1.6 Hypothesis Formulation
1.7 Scope Of The Study
1.8 Definition Of Terms
2.1 The Review Should Be Studied Under The Following Sub-Headings.
2.2 Conceptual Framework
2.3 Theoretical Framework
2.4 Empirical Review
2.5 The Empirical Review May Be Ignored When It Is Not Possible To Adopt.
3.1 Design Of The Study
3.2 Area Of The Study
3.3 Population Of The Study
3.4 Sample Of The Study
3.5 Instrument For Data Collection
3.6 Validation Of The Instrumentation
3.7 Distribution And Retrieval Of Instrument
3.8 Method Of Data Analysis
DATA PRESENTATION AND ANALYSIS
Summary Of Findings, Conclusion And Recommendations
5.1 Summary Of Findings
5.4 Limitation Of The Study
5.5 Suggestion Of Furthers Review
1.1 BACKGROUND OF THE STUDY
The history of community Banks (Micro finance banks) can be traced to 1990 when general Ibrahim babangida announced the establishment of community banks now microfinance Bank in his 1990 budget speech.
In January 2007, there was a new reform in banking sector which led to changing, its name from community bank microfinance bank. Various effort have been made in the past to extend banking activities to rural areas and improve their banking of which most of the establishment policies could not achieved but the introduction of microfinance bank stands out to the remedy to this problem.
Section 61 of bank and other financial institution act (BOFIA) stated that one of the levels of banking in Nigeria is microfinance bank. This can be seen as bank whose activities are restricted to specified geographical area in Nigeria. Microfinance bank is a scheme introduction by the federal government though central bank of Nigeria aimed at producing financial service to the less privileged which are traditionally not served with conventional financial institutions. Its capital base is twenty million naira (N20,000,000), and this will enhance efficiency in microfinance banking system and increase banking habit among the community dwellers and eradicate poverty.
1.2 STATEMENT OF PROBLEM
Several studies have helped to identify the major problem facing small scale business in Delta State. The primary focus of this study emanates from the fact that small scale enterprises owners are contend with daunting challenge:
1.3 PURPOSE OF THE STUDY
The aim objective of this study is to determine, the contribution of micro-finance bank in the empowerment of small scale business in Agbor, Delta State. The following are the specific objective:
1.4 SIGNIFICANCE OF THE STUDY
Considering the research topic “the contribution, of microfinance banks in the empowerment of small scale business in Agbor”. The following, group of people would derive great benefit from the study. The people in both urban and rural areas through the promotion of economic growth and development.
Microfinance banks have encourage infants industries through the provisions of loan to support their capital. Finally, the study will make government appreciate the need to assist micro-finance banks in bringing out lasting solution to those problems that are affecting small and medium scale enterprise in Nigeria at large, also would benefit future researchers on same topic as the material would be a great source of better guides to the and also a great benefit to small scale business owners to know the usefulness of micro finance banks and their functions in the empowerment of business in rural and urban areas.
1.5 RESEARCH QUESTION
1.6 HYPOTHESIS FORMULATION
In the course of the study, the following hypothesis is formulated:
Null hypothesis (Ho) – there is no provision of fund to small scale business owners by microfinance banks that helps to promote small scale business.
Alternative hypothesis (Hi) – there is provision of fund to small scale business owners by microfinance banks that helps to promote small scale business.
Null hypothesis (Ho) – there is no provision of training exercise by micro-finance banks that helps to solve the problem of small industries.
Alternative hypothesis (Hi) – there is no provision of training exercise provided by micro-finance banks that helps to solve the problem of small scale.
Null hypothesis (Ho) – there is no strategy adopt by micro-finance banks in promoting small scale industries in market environment.
Alternative hypothesis (Hi) – there is no strategy adopt by micro-finance banks in promoting small scale industries in market environment.
1.7 SCOPE OF THE STUDY
This research work focuses on the promoting of small scale and medium enterprises in Nigeria by paying special attention to the impact of bank credit on the development of small scale enterprise.
Although there are other types of banks that grant credit facilities to small and medium scale enterprise in Nigeria, this study focuses on micro-financed banks only.
The researcher studies the essential problems encountered by small and medium scale enterprises and suggest ways by which they can be adequately and efficiently financed.
1.8 DEFINITION OF TERMS
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