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The Contribution of Micro Finance Bank in the Empowerment of SmallScale Business

The Contribution of Micro Finance Bank in the Empowerment of Small-Scale Business

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Reference ID: PS-13553-TM

DEDICATION

This research material titled “The Contribution of Micro Finance Bank in the Empowerment of Small-Scale Business” is dedicated to God for his enabling grace, and to all computer enthusiasts who contributed to make life a pleasant experience during my research documentation.

ACKNOWLEDGEMENT

I extend my sincere gratitude to all those who contributed to the completion of this project. Special thanks to my Supervisor (Name of your Supervisor), the Head of Department (Name of your HOD), the Lecturers in the department of Finance, Book Authors and Profound Scholars of existing or related project material on “The Contribution of Micro Finance Bank in the Empowerment of Small-Scale Business” for their invaluable guidance, support, and expertise throughout the journey.

I am also grateful to your study area (mention any funding organizations, if applicable) for their financial assistance. This research would not have been possible without the encouragement and assistance of some stakeholders (mention any mentors, teachers, or colleagues). Additionally, I would like to acknowledge the understanding and patience of my family and friends during this endeavor. Your unwavering support has been a constant source of motivation. Thank you all for being part of this meaningful endeavor.

ABSTRACT

This study reviewed the crucial role of micro Finance Bank in promoting small scale enterprise.

The purpose of this study is to provide means through which those problems facing small scale can be solved; the significant of this is to provide means in which government can assist microfinance banks will bring lasting solution to those problems facing small scale industries, in the analysis of data collected, the research used descriptive method.

All the data gathered by the researcher were tabulated and analyzed accordingly.

It is included that microfinance banks is an indispensable ingredient for efficient, effective and successful performance of an organization, it also showed that microfinance banks is the source of fund to small scale business. The study of recommendation is that small scale owners should motivate good employees because it is another key success in business enterprises.


The Contribution of Micro Finance Bank in the Empowerment of Small-Scale Business

CHAPTER ONE


Introduction

1.1 Background Of The Study

The history of community Banks (Micro finance banks) can be traced to 1990 when general Ibrahim babangida announced the establishment of community banks now microfinance Bank in his 1990 budget speech.

In January 2007, there was a new reform in banking sector which led to changing, its name from community bank microfinance bank. Various effort have been made in the past to extend banking activities to rural areas and improve their banking of which most of the establishment policies could not achieved but the introduction of microfinance bank stands out to the remedy to this problem.

Section 61 of bank and other financial institution act (BOFIA) stated that one of the levels of banking in Nigeria is microfinance bank. This can be seen as bank whose activities are restricted to specified geographical area in Nigeria. Microfinance bank is a scheme introduction by the federal government though central bank of Nigeria aimed at producing financial service to the less privileged which are traditionally not served with conventional financial institutions. Its capital base is twenty million naira (N20,000,000), and this will enhance efficiency in microfinance banking system and increase banking habit among the community dwellers and eradicate poverty.


1.2 Statement Of Problem

Several studies have helped to identify the major problem facing small scale business in Delta State.

CHAPTER TWO

2.0 Literature Review

2.1 Introduction

This chapter focuses on the review of related literature. A literature review includes the current knowledge as well as theoretical and methodological contributions to a particular topic. It documents the state of the art with respect to the topic you are writing. It surveys the literature in the topic selected. In this research work the literature review includes the …

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