Microfinance and Performance of Micro and Small Enterprises; Does Training Has an Impact (Published)
Access to finance is considered as very important for gaining high performance of Micro and Small Enterprises (MSEs). Yet it has been observed that despite the availability of access to finance the performance of several MSEs is poor, which is a major hurdle in the growth rate of MSEs. The purpose of this study was to find the difference in certain performance indicators of MSEs who owners have been given training against those whose owners have never been given any kind of training. In order to conduct study survey research has been conducted and a sample of 384 MSEs was selected on simple random basis. The findings revealed that all the performance indicators including sales increase, income increase, assets increase, employment increase, and meeting household expenses have shown a significant difference among the two groups. The findings of the study are very important for the policy makers and the people who are involved in microfinance industry.
The primary purpose of business is the supply of goods and services to satisfy the societal needs. Wherever people live in conurbations, there is always the need for goods and services. These goods and services are supplied by institutions such as the family, the voluntary organization, the business firms, local, state and federal government. Also, the importance of credit facilities from both the bank and non-bank financial institutions cannot be overemphasized in enhancing the development of SMEs in the country. However, only the effect of initial capital (CAP) and non bank credit facilities (NBK) is significant and responsive towards the enhancement of performance of SMEs while credit facilities from banks are insignificant with respect to SMEs development. Lastly it concluded that government agencies such as the National Directorate of Employment should intensify efforts geared towards training programmes for SMEs.
Phosphorus Adsorption Isotherms of Some Low Activity Clay Soils As Influenced By Soil Properties and Their Effect on Fertilizer P Recommendations and Yield of Soybean (Glycine Max (L.) Merr.) In Benue State, Nigeria (Published)
The relationship between labile P sorbed to the soil surface and solution P can be described by a quantity-intensity relationship which shows P sorption or desorption as a function of P in the equilibrium solution. Twelve soils in Benue state representing Alfisols, Ultisols and Inceptisols were therefore used to examine the influence of soil properties on the shape and placement of their adsorption curves and yield of soybean. Sorption characteristics were determined in 0.01 M CaCl2 solutions of various P concentrations. For each soil, the amounts of P that gave 0.025, 0.05, 0.075, 0.100, 0.125, 0.150, 0.175, 0.200, 0.225, 0.250 mg kg-1 solution concentrations were estimated from adsorption curves. In the greenhouse, 4 kg of soil from each location was placed in plastic pots. Amount of P estimated from sorption study was added as KH2PO4. The treatments were laid out in Randomized Complete Block Design (RCBD) and soybean seed variety (TGx 1448-2E) was planted and growth and development observed to maturity. Optimum solution P concentration (SPC) was determined for each soil in relation to yield. At harvest, SPC that gave highest grain yield was evaluated for each soil and the quantity of P required (SPR) to achieve this concentration was calculated. Consequently, Odoba would require highest P fertilizer application (604.84 Kg P ha-1), (Tor-Donga 112.31, Abeda-Mbadyul 105.93) would require medium fertilization, (Utonkon 72.75, Katsina-Ala and Ofugo 67.64, Akoodo-Mbakor and Nor 61.26, Ogyoma 39.56, Otobi 33.18 and Abaji-Kpav 22.97 Kg P ha-1)would require low fertilization while Vanam (2.55 Kg P ha-1) would require the least.
Hospitality Industry, which majorly consists of hotels and restaurant chains and related services, is one of the largest service industries in the world. Most countries in Africa have realized that the development of hospitality industries is also important for economic diversification. The study assessed the influence of strategic alliances on growth of hotel industry in Eldoret town, the headquarters of Uasin Gishu County in the North Rift region of Kenya. Based on the study this paper explores the effects of outsourcing on growth of hotel industry. The study adopted a descriptive survey research design with a target population of 220 in the hotel industry in Eldoret town. A sample of 112 respondents was drawn proportionately from four categories of hotels using stratified random sampling technique. A semi-structured questionnaire was administered to collect the required data. Data was analyzed using both descriptive and inferential statistical techniques with the aid of a computer software known as Statistical Package for Social Sciences (SPSS) version 20. Multiple regression analysis was used to analyze the data. The study found that outsourcing had contributed to increased hotel sales, profits, product/service quality and reduction of costs. It was therefore recommended that hotel managers need to understand the benefits as well as the challenges that come with outsourcing. The findings of the study will be of benefit to hotels with limited resources and exposed to growth opportunities as they will be able to appreciate the role of outsourcing in leveraging on large firms’ resources for profitability, growth and expansion.
Enhancing Effective Financial Planning Through a Robust Capacity Building Techniques for Entrepreneurial Growth in Nigeria (Published)
The study sets out to examine the extent to which capacity building creates awareness to the entrepreneurs in planning their business finance. It has been established that if the entrepreneurs are educational astute, they will take advantages of windows opening for them to tap. Expost-facto research design was applied in determining the population. The sample was obtained with the application of Taro Yamani principle. Ordinary least square technique was used in analyzing the data. Findings revealed that entrepreneurs are easily able to arrange their business finances when they acquire awareness through various techniques. It was concluded that a robust capacity building technique is sine-qua-non to entrepreneurial success in financial planning. It was recommended that the government and the private sector organizations should incorporate adequate skill training programmes for the benefit of small and medium scale business operators and that they in turn should develop passion to learn and apply the skills acquired to improve the ability in financial planning.
Economic Transformation: Reliance to Small Businesses and Export Orientation (Published)
Uzbekistan as a low-middle-income country with a population of 30 million, has seen stable economic progress (with the growth of average 8 percent per year) since 2004 and extreme poverty has declined from 27 percent in 2000 to 15 percent in 2012. The government has set an ambitious goal for the country—to join the group of upper-middle-income countries by 2030. This study discusses the main challenges of the structural transformations that the economy will face to achieve this objective.
An Assessment of the Effect of Distribution Alliance on Growth of Hotels in Eldoret Town, Kenya (Published)
Strategic alliance enables firms to remain competitive and thus survive, grow and prosper. In order for enterprises to survive in a rapidly changing business environment, they are increasingly forming strategic alliances with other firms. This paper assesses the influence of distribution alliances on growth of hotel industry in Eldoret town. The paper is based on a study that sought to evaluate the influence of strategic alliances on the growth of the hotel industry in Eldoret town in North Rift region of Kenya. The study applied the Resource Dependency theory and the Resource Based theory and adopted a descriptive survey research design on a target population of 220 respondents involved in the hotel industry in Eldoret town. A sample of 112 respondents was drawn proportionately from four categories of hotels using stratified random sampling technique. A semi-structured questionnaire was administered to the respondents to collect the required data. Data was analyzed using both descriptive and inferential statistical techniques with the aid of the Statistical Package for Social Sciences (SPSS) version 20. Multiple regression analysis was also used to analyze the data. The study established that distribution alliance had increased the hotel sales, profits, product/service quality and reduction of costs. Further, strategic alliance had increased market share and enabled hotel businesses to gain competitive advantage. The study also established that the hotels have improved proximity to customers and faster and easier market penetration due to strategic alliance. Based on the research findings and conclusion in the study, it is recommended that hotels need to come up with governance structure that governs strategic alliance. This will help reduce problems encountered in strategic alliance.
Student and Staff Perception on the Growth and Administration of Parallel Degree Programmes in Kenya (Published)
The introduction of parallel degree programmes into public universities in Kenya initially triggered off stiff resistance from regular students as well as education experts who argued that quality would be sacrificed in pursuit of additional funds by the universities to address their deficit. Public universities shifted from the public-good paradigm to a market model in which generation of funds for the survival of the institution takes center stage. This paper examines the growth of Privately Sponsored Student Programmes (PSSP) in Kenya and the perception of staff and students on its management by the institutions. The descriptive study adopted ex-post facto research design. A sample of 460 privately sponsored students from all schools and campuses of Moi University and 140 teaching and non-teaching staff was used. Stratified random sampling procedure was used to identify the schools and the students while purposive sampling was used on the staff. Data was collected using questionnaires for students and staff while interview guides were used on administrators of schools and satellite campuses. The PSSP students at Moi University feel the University is not providing the quality education they had hoped to get. The staff has a more positive attitude towards PSSP and asserts that they are willing to put in more effort to ensure that PSSP achieves its objectives. However, the students think that there is little chance of any of them getting first class honours degree because of inadequate teaching, shortage of supporting infrastructure and favouritism
Effect of Village Savings And Loan Associations on Small and Medium Enterprise (Sme) Growth in Rwanda: Survey of Kayonza District (Published)
The research purpose was to examine the effects of Village Savings and Loan Associations on the growth of Small and medium enterprises in Rwanda because despite the contribution of Rwandan Government supported the establishment of Village Group Savings Cooperatives as a way of providing financial accessibility to rural Rwandans who cannot afford big loans from the banking institutions in order to support their micro business, performance of SME’s in the rural areas is still low (RDB report 2014). The researcher achieved this research by use of three specific objectives namely; To analyze the effect of credit/ loans on growth of SME growth in Kayonza District; To examine the effect of training and advice on investment on SME Growth in Kayonza District; and to analyze the capital formation on SME growth in Kayonza district. The research is beneficial to the researcher, SME’s, government and JKUAT. The researcher reviewed both theoretical and empirical literature on the effect of Village Savings and credit cooperatives on SME’s performance. The researcher used descriptive method of study based on qualitative and quantitative approach in order to get better analysis of the study. The population size is 884 and sample of was taken. Both primary and secondary sources with their relevant tools like questionnaire and documentary analysis in order to come up with required data. In the findings it was established that Kayonza district has got various credit/ loan services, Training and Advice on Investment services and Capital formation (savings) services. Credit/ loan services includes; provision of required amount of loan to the clients, provision of loan to the clients within a short time, provision of loan without collaterals but members guarantee, provision of the loan to the clients at a low interest rate and provision of loans to the clients with flexible repayment schedule depending on one’s earnings. Training and Advice on Investment services which that include; provisions of investment briefings on terms and conditions of the loan before acquiring loan, provision of investment seminars and workshops to members, provision of tour to successful members business before loan is awarded to clients, VSLA also make follow up visit to their clients in order to provide business advice on monthly basis and they have created members working team who are guarantors and advisors. Capital formation (savings) services which ensures that that VSLA in Kayonza District make clients contribute monthly or weekly to the group savings, savings contribution is managed through rules and procedures, contributed fund is kept safe, clients to divide the saved funds at an agreed interval and clients has a right to refund once he withdraws from the saving group. These services positively influence the SME growth in Kayonza District in the sense that VSLA services has increased capital base increased of members business, increased profitability of the business, made business expand its branches, made members business acquire assets, made members business cash flow to improve and above all VSLA savings has made my progress from hand to mouth to planning for the future. This was justified by table 4.15 which showed the relationship between Village Savings and Loan Associations (VSLA) and SME growth in Kayonza District whereby the respondents N is 366 and the significant level is 0.01, the results indicate that independent variable has positive high correlation to dependent variable equal to .673** and the p-value is .000 which is less than 0.01. When p-value is less than significant level, therefore researchers conclude that variables are correlated and null hypothesis is rejected and remains with alternative hypothesis. This means that there is a significant relationship between Village Savings and Loan Associations (VSLA) and SME growth in Kayonza District. We can therefore conclude Village Savings and Loan Associations (VSLA) contribute to positive SME growth in Kayonza District.
Impact of Organic and Folia Fertilizer Application on the Growth, Yield and Medicinal Potential of Hybiscus Sabdariffa L (Published)
The effect of organic (poultry manure) and folia fertilizer application on the growth, yield and phytochemical composition of Hibiscus sabdariffa was investigated in planting pot experiments. Seeds of this plant were sown in soil treated with organic fertilizer at 40, 80 and 120 g separately and also supplemented with folia fertilizer two weeks after germination. Some seedlings with no organic fertilizer application were also sprayed with folia fertilizer, thus making seven treatments in all. No organic or folia fertilizer served as control. Application of 120 g poultry manure in combination with folia fertilizer produced the highest plant height (98.23 cm), dry shoot weigh plant-1 (24.66 g) and number of fruits plant-1 (19.33). The highest leaf number plant-1 (164.00), fresh (28.06 g) and dry (4.43 g) fruit weight was recorded in plants treated with 120 g poultry manure. More so, alkaloids, anthocyanins, flavonoids, phenols, saponins, and tannins were found in the calyces of Hibiscus sabdariffa with or without organic and foliar fertilizer. However, treatments with organic fertilizer singly or in combination with folia fertilizer significantly (p < 0.05) increased the phytochemical contents in the calyces of the plant. Interestingly, 120 g poultry manure had the greatest impact. The use of organic fertilizer in the cultivation of this medicinal plant should be encouraged as they could enhance its better growth, good yield and medicinal value under safe agricultural condition.
Cost Information and Business Strategy: A Synergistic Approach of Ensuring Valid Business Decision and Growth (Published)
This paper examines cost information and business strategy as a synergistic approach of ensuring valid business decision and growth. This was hinged on the premise that cost accounting information is one of the enduring tools of management for planning, decision making and control. If this information is wrongly applied, it can jeopardize the revenue aspect of the business and by extension the overall performance of the entity. To this end, the ex-post facto and descriptive research designs were adopted to elicit information from respondents. The paper adopted the ordinary least square analytical technique for data analysis. Findings revealed that inadequate cost information, obsolete costing techniques and ineffective corporate governance mechanisms impact on organizational performance. Indeed, it was recommended that corporate entities should place more priority on cost information, modern costing techniques and effective corporate governance to facilitate growth especially in all sectors of human endeavors.
Growth and Nutritional Qualities of Three Ocimum Species As Affected By Methods of Propagation (Published)
Ocimum species are well known for their medicinal values and this have caused increase in their demand by individual and many pharmaceutical industries. In order to meet the demand for this plant species three different Ocimum species (Ocimum basilicum, Ocimum gratissimum and Ocimum americanum) were propagated by different methods (stem cutting and seed) and were evaluated for their morphometric characters after 6 six and eight weeks. The chlorophyll content, proximate composition and phytochemicals content of the plants were also determined. The result obtained showed that Ocimum species propagated through stem performed better than the seeds. The results also revealed that there were strong correlation between the plants height and other morphometric characters. Also, the Ocimum species propagated by seed contained more phytochemicals than those propagated by stem. However, O. gratissimum propagated by stem cutting appeared to perform better than the other two Ocimum species in term of plant height, leaf number, stem girth and number of branches.
There is a growing concern as to whether the cost of financial intermediation is having commensurate beneficial implication on economic growth in Nigeria. The main objective of this study is to determine the implications of cost of financial intermediation on economic growth in Nigeria. The study made use of ordinary least square regression analysis. Results for ADF unit root tests show that all variables under consideration are I(1). The co-integration test also indicates long run relationship between cost of financial intermediation and economic growth in Nigeria. The study shows that total loan (TL) has significantly impacted on economic growth in Nigeria, that interest rate has significantly impacted positive on the growth of Nigerian economy and that the level of total deposit over the years has impacted negatively on economic growth in Nigeria. The policy implication is that improper management of financial intermediation cost may have caused several macroeconomic consequences in Nigerian economy and the framework for demonstrating its consequence in the real sector of economy. Hence, the issue of how total loan, interest rate and total deposit linked to the level of economic growth is of a great concern in Nigerian economic performance. We therefore recommend that Nigerian government should ensure that proper control and regulation should be guided the activities of the financial intermediations cost in order to achieve a sound financial system
The Effect of Information Technology on Growth of Micro-Insurance Business: A Survey of Commercial Insurance Companies in Kenya (Published)
The micro-insurance business has a huge potential for growth in Kenya, which is typically a micro-insurance market. However, the country’s paltry growth in overall insurance penetration from 2.54% in 2006 to 3.0% in 2010 is not attributable to emerging business areas such as micro-insurance, but to the traditional insurance product lines. Information technology can be leveraged to increase micro-insurance penetration. This study examined the influence of information technology on the growth of micro-insurance business in Kenya. A survey of commercial insurance companies was conducted to provide an understanding of the effect of information technology as a driver of micro-insurance growth. The findings revealed a high positive significant correlation between information technology and growth of micro-insurance. The implication is that sustainable growth of micro-insurance business among the low-income Kenyan population can be greatly enhanced by leveraging the benefits of information technology. Therefore micro-insurance service providers should embrace information technology systems as a strategic action in order to tap into the ripe micro-insurance client base.
Human capital development is a process of increasing knowledge, skills, talents and competencies in vocational and technical education for increase in productivity and stimulating resourcefulness of trainees. Home economics and Social Studies must necessarily contribute to developing of human capital in the 21st century to enable families and individuals cope with the ever emerging problems and challenges. The study focused on human capital development: a panacea for entrepreneurial growth in Ebonyi State. Specifically, the study sought to ascertain the managerial skills required for entrepreneurial growth in Ebonyi State, entrepreneurial qualities required for entrepreneurial growth, ascertain how entrepreneurial growth can enhance socio-economic development of Ebonyi State. Three research questions and one hypothesis were formulated to guide the study. The area of the study is Ebonyi State. Population of the study was 220 registered entrepreneurs in Ebonyi State. There was no sampling because the population was manageable. Descriptive survey design was used for the study. Structured questionnaire was used to collect data. Data were analyzed using mean and frequency. Chi-square was used to test the hypothesis. Findings of the study showed that managers need communication, conceptual, technical skills for entrepreneurial growth. Also, discipline, creativity, and ability to motivate employees, were the entrepreneurial qualities required for entrepreneurial growth. Movement of capital goods; increase in education; creating of new jobs can enhance socio-economic development of Ebonyi State. Based on the findings, the following recommendations were made; there should be increased collaboration and cooperation between public and private sectors, among others.
Growth and Fruit Yield of Tomato As Influenced by Combined Use of Organic and Inorganic Fertilizer in Kabba, Nigeria (Published)
Field experiments were conducted to investigate the effects of integrated use of chemical and organic fertilizers on growth and fruit yield of tomato in Kabba College of Agriculture. The experiment involved five treatments which are as follows: 125kh/ha NPK+3t/ha poultry manure, 125kg/ha NPK+3t/ha cow dung, 125kg/ha NPK+3t/ha kitchen waste, 125kg/ha NPK 15:15:15 and Control. The treatments were laid out in a Randomized Complete Block Design (RCBD) and replicated four times. The parameters taken on soil chemical properties are soil pH, total nitrogen, available phosphorus and soil organic matter. Growth and yield parameters taken are as follows: plant height (cm), number of leaves, and stem girth (cm), number of fruit per plant, fruit length (cm), fruit diameter (cm) and yield per land area (kg/ha). Result obtained from parameters studied (Plant height, leaf numbers, branch number, stem girth, fruit number per plant and fruits weight) revealed that tomato performed better (P<0.05) with the application of 125kg/ha NPK+3t/ha poultry manure application. The also, study showed that use of inorganic and organic fertilizer had better effects on growth and yield of tomato. Therefore, for good yield and better productivity of tomato, a combination of 125kg/ha NPK fertilizer + 3t/ha poultry waste is recommended for tomato production in the study area.
Theory predicts complex and multidimensional relationships between inequality and growth. Indeed, previous studies on inequality and growth using various estimation techniques, inequality measures, country samples and time frames have found conflicting results ranging from positive , negative, non-linear to insignificant and inconclusive relationships. In this study, we follow the model of Forbes (2000) to examine whether or not inequality affects growth. With the newly improved inequality data provided by the University of Texas Inequality Project (UTIP, 2013), we used the System-GMM to estimate the relationship in a panel of 65 countries over the period 1965-2005 on 5-year interval. We found a positive but statistically insignificant co-efficient of inequality on growth
AN EXAMINATION OF THE NEXUS BETWEEN MODERN TRANSPORT INFRASTRUCTURE AND SOCIO-ECONOMIC GROWTH IN COLONIAL EASTERN NIGERIA (Published)
At the beginning of colonial administration, the British government envisaged her Nigerian territory to play a dual role: source of agricultural raw-materials and mineral resources for British industries; as well as an assured protected market for British manufactures. Thus, the provision of modern transport infrastructure was therefore required to achieve the above economic motive for the British colonization of Nigeria. Modern transport infrastructure in Eastern Nigeria was vital as it was thought as the surest way ‘to open up the vast hinterlands of the region to civilization’. Consequently, the colonial government laid emphasis on rail, roads, and harbor development, and these boosted its desired strategy for the economic exploitation of the vast resources of the region. Against this backdrop, this paper examines the development of modern transport infrastructure and their effects on the colonial economy of Eastern Nigeria. Utilizing both primary and secondary sources of data, the paper argues hat although the colonial government had ulterior motives in the development of these infrastructure, but they no doubt boosted socio-economic activities, and as well led to the emergence of major urban centers in Eastern Nigeria. It concludes by emphasizing the need for governments at various levels in modern South-east states of Nigeria and the federal government to give priority to the development and sustenance of modern transport infrastructure as this will facilitate the actualization of the much orchestrated Vision Twenty, twenty-twenty [20, 2020] of the present civilian administration in Nigeria.
EVALUATION OF SIX CHINESE MAIZE (ZEA MAYS) VARIETIES IN THE HUMID TROPICAL ENVIRONMENT OF CALABAR, SOUTH-EAST, NIGERIA. (Published)
Six hybrid Chinese maize varieties with a local best were evaluated for their growth and yield performance with a view to adoption in South east agroecological zone of Nigeria. A Randomised Complete Block (RCBD) Design was used. The cultivars did not differ (p ≤0.05) significantly in some growth parameters, this included emergence percentage at 5DAP (days after planting), plant height at both 4WAP and 6WAP (weeks after planting). Tasseling and silking differed significantly, the exotic varieties tassled and silked better than the control at 8WAP and 10WAP respectively. The only significantly different yield parameters were the length and weight of undehusked cobs, circumference of dehusked cobs. The exotic varieties matured earlier than the control between 11 to 14WAP and 16WAP respectively. There was no significant difference in the grain yield between the maize varieties. The Chinese varieties did not show a marked difference in grain yield compared to the local
Fuel as a major energy consumed has its price been unpredictable. Due to this unpredictability, policy makers always try to adjust its price to meet the prevailing world market prices. This study sought to evaluate fuel price adjustments and growth of SMEs in the New Juaben Municipality of Ghana. The specific objectives were to: find out whether fuel price adjustment affects SMEs negatively or positively, and explain the effect of fuel price adjustment on employment, turnover and output of SMEs in the New Juaben Municipality. This study was a social survey with a sample size of 204 and a purposive sampling was used to illicit information from respondents in which quantitative and qualitative analysis were undertaken. The results of the study showed that, increases in fuel price due fuel price adjustment result in increases in transportation costs, raw material costs, capital costs and other costs but have a negative relationship with consumer real income. In addition, increases in fuel price constrained the growth of SMEs. The study recommended that, government should take steps to subsidize the fuel costs of SMEs to enhance their growth which could lead to increase in employment. SMEs should be provided with managerial training to enhance their understanding of their activities