Designing Enhanced and Effective Entrepreneurial Access to Financial Services

Abstract

Designing means planning and making decisions about something for a specific use or purpose. As a noun, the word "design" can be construed as a plan or protocol for carrying out or accomplishing something. The word "enhanced" is from "enhance" which means to increase or improve in value, quality, desirability, or attractiveness. It has to do with refinement, upgrading a concept for effectiveness. Financial services refer to all professional activities related to securing, investing, lending, and management of funds and assets. It encompasses credit and includes provision of payments and savings services, financial education, and financial management skills improvements for the borrowers. The importance of this study derives from the need to inform present and prospective entrepreneurs on the workings of the existing governmentbacked strategies for accessing financial services in Nigeria. The importance is further defined by the urgent and cogent need to inform and influence relevant policy-makers on the desirability for improving the quality and effectiveness of such strategies.