Microfinance: An Emerging Market Within the Emerging Markets

Berger, Marguerite

doi:10.1142/9789812813534_0004

Cited by 5 publications

(2 citation statements)

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“…The challenges faced by SMEs globally are very worrisome which hinder its operation towards alleviating or reducing poverty in the country (Chasten and Mangles, 1997;Sule, 2014;Caleman, 2002;Brain& Ostenyeng, 2001;Ogundele, 2012;Afrane, 2002;Adizes, 1979).The following are the constraints faced by SMEs: Osuagu (2016) opined that lack of access to finance or loan has been one of the most pervasive obstacles faced by SMEs in both developed and developing countries. It represents the major challenges which can significantly affect the ability of a firm to grow, upgrade its technology, expand its market, and promote its management skills, increase productivity simply to grow and survival in the business environment (Berger, 2000;Kao, 1982;Hall, 1987;Williamson, 1985;Wiles, 1977;Ogundele & Olayemi, 2015;Cheston & Reed, 1999). Onyemere (2013) posit that inadequate financial services have been figure out as the primary inhibitors to SMEs development and production in Nigeria.…”

Section: Constraints To Small and Medium Scale Enterprises Developmentmentioning

confidence: 99%

The role of SMEs development on poverty alleviation in Nigeria

Akpoviroro¹,

Adenuga²,

Sabitu³

2019

IRD

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The role of SMEs development on poverty alleviation has been a core element of the current report. This study examined the role of small and medium enterprises on poverty eradication in Nigeria. Two research questions were posed for the study and two hypotheses formulated in line with the objectives. One hundred and forty two (142) questionnaires were administered randomly to the entire employee population of the SME companies that are registered with SMEDAN in Lagos Nigeria. The sample size was determined using Yamane formula. The data was analysed using manual and electronic based methods with the aid of data preparation grid and statistical package for the social sciences, (SPSS) statistical package version 21.0. The study made use of statistical tools which include: analysis of variance (ANOVA), correlation efficient and regression analysis in testing hypotheses where applicable. Therefore, the study found out that SME development affects poverty alleviation and also Training organized by SMEDAN affects SMEs employment creation. It was discovered that the small and medium enterprises provided employment opportunities, training ground, harnesses utilization of local resources and also acts as a pillar hold of a nation, Nigeria inclusive. The study concluded that a good development strategy if employed by these SMEs will grow to large-scale capital intensive. The study recommends that SMEs should source their loans from the financial institutions where interest rates are low.

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Section: Constraints To Small and Medium Scale Enterprises Developmentmentioning

confidence: 99%

The role of SMEs development on poverty alleviation in Nigeria

Akpoviroro¹,

Adenuga²,

Sabitu³

2019

IRD

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“…Micro finance has proven to be effective and efficient mechanism in poverty reduction all over the world (Berger 2002;Meenu and Jai 2011). Micro financing is considered one of the tools that can be used to encourage women entrepreneurship.…”

Section: Introductionmentioning

confidence: 99%

Impact of Microfinance Banks on Business Expansion Capacity and Performance of Women Food Vendors in Futa Environment

Ayomide Samuel,

Oladotun Larry,

Shomorin

et al. 2022

KIJHUS

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The purpose of this study was to examine the impact of microfinance on business expansion capacity and performance on women food vendors in Federal University of Technology, Akure, Ondo State, Nigeria (FUTA) environment as well as the factors that affect the performance of women entrepreneurs. For this purpose, data was collected from women entrepreneurs in FUTA environment. The findings show that there are various barriers that imitate against entrepreneurs’ development in FUTA environment. The major challenges involve, lack of collateral, high loan interest rate and lack of registration. Also, the study concluded that, micro entrepreneurs face a number of challenges. These include business risk, lack of education, family problems, high interest rate and lack of support. Despite the existence barriers for micro entrepreneurs in accessing microfinance services, among others, several Micro entrepreneurs have got their businesses growing. This suggests that there might be some factors or opportunities that have enabled some micro entrepreneurs to overcome the above-mentioned constraints and make their businesses prosperous. This could be because of their hardworking spirits, having understanding and supportive family members, required skills and technical knowhow obtained by being persistent in the business. Finally, the study concludes that lowering interest rate will improve loan provision to entrepreneurs in FUTA environment. It was established that microfinance institutions are skeptical in giving loans to not only very risky businesses but also new businesses. They are keen when assessing the creditworthiness of businesses while dealing with disproportionate information problems.

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Microfinance institutions in the development of financial markets

Terberger¹

2003

CEPAL Review

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For the last two decades, microfinance has ranked high on the list of policy instruments for fighting poverty. Supporting the creation of access to formal financial services for lowincome households holds out the promise of improving the living conditions of poor families and fostering economic development. Furthermore, it is claimed to be a very costeffective approach because some non-governmental organizations ( NGOs) that have been upscaled into microbanks have shown that financial services can be offered to low-income households while covering costs and even earning a moderate profit. Recent studies, however, are sceptical about the high expectations raised by the microfinance approach, since profitable microfinance institutions (MFIs) are the exception rather than the rule.Institutional innovation is called for in order to reproduce these rare successes on a larger scale. This article aims to offer preliminary insights into the potential of two rather new institutional alternatives to upscaling: the creation of microfinance departments at existing for-profit banks (i.e., downscaling) and the founding of greenfield banks.

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Microfinance: An Emerging Market Within the Emerging Markets

Cited by 5 publications

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The role of SMEs development on poverty alleviation in Nigeria

The role of SMEs development on poverty alleviation in Nigeria

Impact of Microfinance Banks on Business Expansion Capacity and Performance of Women Food Vendors in Futa Environment

Microfinance institutions in the development of financial markets

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