Browsing by Author "Abosede Adebola AMOO"

Now showing 1 - 1 of 1
  • No Thumbnail Available
    Item
    Financial Inclusion and Performance of the Small and Medium Enterprises in Ibadan, Oyo State
    (Lead City University, Ibadan, 2023-12) Abosede Adebola AMOO
    The study examined Financial Inclusion and Performance of the Small and Medium Enterprises in Ibadan, Oyo State. The target population for this study was made up of business centres, grocery stores and fashion houses in the Ibadan Southwest Local Government. This study adopted a quantitative survey technique because it was explanatory and related directly to the SMEs that were selected for the research. Data was collected from various sources through primary sources with the use of a structured questionnaire and other secondary sources of data to obtain relevant data from the participants. Statistical Package for Social Sciences (SPSS) software program was used to analyze the data. From the research findings, financial inclusion was found to be connected with financial stability, financial literacy, financial capability, market conducts and financial integrity of the SMEs, any strategies implemented by the government must therefore target these objectives not minding if the strategy of financial inclusion was meant to be a part of a comprehensive financial sector or a standalone strategy. It was discovered that SMEs can access finance through internal funds, venture capital, trade credit, business angels and crowdfunding with positive influence on their performance but huge borrowing cost of bank overdraft negates its impact. The performance of the selected SMEs was influenced positively using financial inclusion parameters of Financial Service Access, Usage and Quality as measurement. A limited perspective of financial inclusion, such as policies centering only on direct public funding are rare to give huge benefits. Preferably, significant, prudent, and unceasing SMEs funding access demands a comprehensive outlook which includes key elements identified from macro-economic, regulatory and legal aspects. This study concluded that improving SMEs financial inclusion can enlarge economic growth, innovation, creation of job, poverty alleviation, wealth creation and the success of budgetary and financial strategy can support their financial stability. Keywords: Financial Inclusion, SMEs, Performance, Strategy, Finance Word Count: 300