Effect of Small and Medium Scale Financing on Entrepreneurial Development in Delta State (Published)
The main objective of this study is to examine the effect of small and medium scale financing on entrepreneurial development in Delta State. Three objectives to ascertain the effect of household income on entrepreneurial development; to examine the impact of thrift savings on entrepreneurial development and to determine the effect of loans on entrepreneurial development guided the study. The cross sectional survey research design method was employed. The geographical area for this study was the south-south region in Nigeria. The participants of the study were 215 entrepreneurs in south-south region in Nigeria. The non-probability sampling method was used because the population was large and not easily accessible and the researcher had no control over it. The research instrument was a 16-item validated structured questionnaire, the item measures were based on a five-point likert scale. Primary data were used since data were collected directly from entrepreneurs in south-south region. Data obtained were analyzed using correlation and regression. Findings from multiple regression analysis revealed that household income has significant positive effect on entrepreneurial development (β = .158, P<0.01). The findings also revealed that user thrift savings has significant positive relationship with entrepreneurial development (β = .123, P <0.01).Thus Government should come out with a clear policy on SMEs. There should be a firm choice between state sponsorship without control, autonomy of SMEs without assistance and state sponsorship with control. SMEs are still in their infancy in Nigeria and must therefore be sponsored without government control.