Publisher: Centre For Social Science Research, Enugu

Sources of Funding For Entrepreneurs For Sustainable Growth and Development of Small Scale Businesses

Mrs. Addah, G. A., Omogbiya, O. Shulam Mite
KEYWORDS: Entrepreneur, sustainable growth, development, Repayment, bankruptcy

ABSTRACT:

Funding is an issue of great concern to entrepreneurs. This study examines the available sourcesof funds to entrepreneurs for sustainable growth and development of small scale business in Nigeria. The general objective of the study is to analyze the available sources of funds to
entrepreneurs. To this effect, data were collected from randomly selected one hundred and fifty entrepreneurs operating in the Northern part of Delta State, through the use of self designed questionnaire. The statistical tool used for data analysis was chi-square. From the analysis of hypothesis one, the calculated value is 0000015 and the tabulated value is 0.0039. The calculated value of hypothesis two is 0.025 and the tabulated value is 0.103, while the calculated value for hypothesis three is 0.0032 and tabulated value is 0.103. Consequently, it was revealed that the success of entrepreneurs in business depends on the availability of funds. It concludes that entrepreneurs should make adequate plans for sourcing of funds and acquisition of reasonable amount before commencing any business. It recommends that entrepreneurs should not borrow high interest funds when the need arises



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