Abstract
The Impact of Financial Crisis on Small and Medium Scale Enterprises Access to Credit in Nigeria
Highlights
Section I:Introduction In the world today, as established by the World Bank (2018) Small and medium enterprises contribution is put at about 90 percent of the available firms across the globe
It is deduced from the findings that, high interest rate on credit facilities to the small and medium enterprises (SMEs) in Nigeria has been a retarding force dragging the Nigerian economy backward such that the SMEs are reluctant to access credit facilities as they are not sure of how to manage the facilities to achieve the SMEs’ objectives
Irrespective of the intervention by the government to improve upon the SMEs having access to credit through several financial policies, it shows that the policies are not contributing to the improvement of the SMEs access to credit in Nigeria
Summary
2.2 Model Analysis In management, the word “Environment” does not necessarily mean physical surroundings, but is used to describe all those influences that bear upon corporate organisations as it affect decision making in totality. Government support may be directed to SMEs through Small and Medium Enterprises Development Agency (SMEDAN) by giving technical advices and training to SMEs. Access to the fund will enable the SMEs to perform their role of generating employment, production of goods and services, generating needed foreign exchange for the country and the same time pay tax and excise duties on export goods. Access to the fund will enable the SMEs to perform their role of generating employment, production of goods and services, generating needed foreign exchange for the country and the same time pay tax and excise duties on export goods All these will lead to economic growth and development for the country
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