| Autor: |
Temile, Sunny Oteteya, Enakirerhi, Lucky Izobo, Enaruna, Dubem Victor |
| Předmět: |
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| Zdroj: |
International Journal of Accounting & Finance (IJAF); Mar2021, Vol. 10 Issue 1, p41-61, 21p |
| Abstrakt: |
Small and medium enterprises (SMEs) contribute approximately 40% of Nigeria's GDP. There have been several interventions by the government in the past to stimulate the growth and success of Small and medium enterprises (SMEs). Nigeria boasts of a robust and vibrant banking sector which is currently competing effectively in the global financial space. This study looked at the challenges of managing risks by banks in the financing of small and medium textile firms in Nigeria to proffer solutions to these challenges and encourage the banks to continue to extend credits to this very important sector. The study made use of primary data which were analysed using simple percentages while hypotheses were tested using Analysis of Variance(ANOVA) inferential statistics. The research findings showed that there is indeed a high funding need by these operators to increase their capacity. It was discovered that a high rate of default is caused mainly by lack of transparency of the operators, poor SMEs cash flow analysis by the bankers and outright diversion of funds among others. One major recommendation in light of the findings is that Small and medium textile firm operators are encouraged to keep proper accounting records and where necessary, employ the services of professionals. Generally, a healthy relationship between SMEs and banks will ensure the growth of not just the sector but the overall development of the Nigerian economy. [ABSTRACT FROM AUTHOR] |
| Databáze: |
Complementary Index |
| Externí odkaz: |
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