An Appraisal of the Relationship Between Available Form Of Finance and Performance of Entrepreneurs in Southwestern Nigeria

Abstract

The future Economic Prosperity of Nigeria lies in the dynamism and growth of Entrepreneurial activity. In Nigeria, the importance of Entrepreneurial development cannot be undermined; its contributions are quite obvious and visible in economic transformations. Entrepreneurs need to attract Finance (money) to fully commercialize their concepts since finance has been seen as the most essential current asset for any business operation. Evidence from literature show that financing play a critical role in the success or failure of entrepreneurs. The extent to which Entrepreneurs in SMEs section access the available sources of finance in Nigeria is worthy of investigation. In line with this, the paper assessed the relationship between available form of finance and performance of entrepreneurs. The population of the study comprises of all 7474 registered Entrepreneurs that involved in Small and Medium Enterprises in Southwestern Nigeria. A random sampling technique was adopted for the study across the six states that form Southwestern Nigeria. The selection was based on their predominance in commercial activities in Nigeria. The Taro Yamane's formula: n=N/1+N(e) 2 was used to select sample size of 379 out of the total population of 7474. Primary data was collected through a designed questionnaire and administered on the selected study sample. Out of the 379copies of questionnaires sent out to the selected respondents, 298 were received and found useful. Data collected were analysed using frequency , table and percentage while