Financial Accessibility and Growth of Small and Medium Scale Enterprises
Keywords:financial accessibility, growth of small and medium scale enterprises
The general purpose of the study was to investigate financial accessibility and the growth of SMEs in Jos-Bukuru metropolis of Plateau State, Nigeria. The study adopts survey method approach. Primary data was collected using self-administered questionnaires issued to owners/managers of the SMEs (bakeries and eateries). A sample size of 194 respondents was selected. Theoretically, the study hinged on the pecking order theory while respondents were selected through non-probability sampling method. Multiple regression method was used to evaluate the data with the aid of statistical packages for social science (SPSS version 21.0). The findings of H1 show that there is a significant relationship between Entrepreneurs Characteristics (EC) and the growth of SMEs in Jos-Bukuru metropolis. Statistically, 37% (Ad R2= 0.037) of bakeries and eateries profits, liquidity and ability to employ is explain by the character of the owner/manager/CEO, & the findings of H2 shows there is a significant relationship between Firm Characteristics (FC) and the growth of SMEs. Statistically, 14% (Ad R2= .140) of bakeries and eateries profits, liquidity and ability to employ is explained by the organizations characteristics. The study also contributed to knowledge, practically, the study offered insight on financial accessibility to SMEs for the expansion of their business in areas of profitability, liquidity, and employee size. The research suggests that, there should be an expansion by increasing the sample size through inclusion of more LGA.