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The Impact of Micro Finance on Entrepreneurs Performance

The Impact of Micro Finance on Entrepreneurs Performance

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Reference ID: PS-36-TM


This research material titled “The Impact of Micro Finance on Entrepreneurs Performance” 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.


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 Accountancy / Accounting, Book Authors and Profound Scholars of existing or related project material on “The Impact of Micro Finance on Entrepreneurs Performance” 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.

The Impact of Micro Finance on Entrepreneurs Performance




  • 1.0 Introduction
  • 1.1 Background of the study
  • 1.2 Statement of the problems
  • 1.3 Objectives of the study
  • 1.4 Research questions
  • 1.5 Significance of the study
  • 1.6 Scope of the study
  • 11.7 Limitation of the study
  • 1.8 Definition of terms


  • 2.0 Literature Review
  • 2.1 Introduction
  • 2.2 Meaning of micro financing
  • 2.3 Micro finance as an area of study
  • 2.3.1 The central role of capital
  • 2.3.2 Field of Micro finance
  • 2.4 Nature of small enterprises
  • 2.5 Obstacle to obtain finance from formal sources
  • 2.6 Non financial problem
  • 2.7 Micro financing for small scale enterprises
  • 2.7.1 Financing procedures Records
  • 2.8 Quality of finance reports
  • 2.9 Types of Account to be kept by SSES
  • 2.10 Sources of finance available to SSES
  • 2.11 Government policies Affecting the finance of small enterprises


  • 3.0 Research Methodology
  • 3.1 Introduction
  • 3.2 Research design
  • 3.3 Sources / methods of data collection
  • 3.4 Population and sample size
  • 3.5 Sample techniques
  • 3.6 Validity and reliability of measuring instrument
  • 3.7 Method of data analysis


  • 4.0 Presentation and analysis of data
  • 4.1 Introduction
  • 4.2 Presentation of data
  • 4.3 Analysis of data
  • 4.4 Interpretation of results


  • 5.0 Summary, Conclusion and Recommendations
  • 5.1 Introduction
  • 5.2 Summary
  • 5.3 Conclusions
  • 5.4 Recommendations



The main purpose of micro finance is to determine the impact of micro-finance on entrepreneurs performance.Financing is concerned with the recording, reporting, arranging of data in an organization activities using book-keeping, capital assets, journals and SSE. The responses to the questionnaires view of related literature and personal interview was found out to be that financing has been defined as the management of capital sources. In small scale enterprises, financing deals with switch micro financing, the micro financial system in Nigeria.

The research design used in this report is descriptive design, utilizing questionnaire method to obtain information from the respondents for this project. Primary data were collected from the primary source which questionnaire was used as an instrument of data collection while secondary data were sources from textbooks, journals, newspapers and the internet were employed. The data were presented on a frequency distribution table and analyzed using simple percentage, while hypothesis was tested using chi-square test.

It discovered the necessary field which are sole proprietorship, co-operative and private comparies. It also discovered that their philosophy in liquidity and profitability ignores the developmental needs of the economy.

In conclusion, one can say that micro-financing is the true vain of business enterprises.

The Impact of Micro Finance on Entrepreneurs Performance


1.0 Introduction

Micro finance is a specialized functional field found under the general classification of business administration.

Finance as a term can be defined as the management of money especially money controlled by a government , company or large organization. (Randolph quirk 1995:518) Micro finance as a business discipline is different from both economics and accounting.

Accounting is concerned with the recording, reporting, measuring and keeping of data in an organization, activities, using a widely acceptable double entry book keeping system. The data may be historical as in the case of provision a year balance sheet, forecast of future operations as in the case of next year operating budget accounting system as in the to make decisions to help organization achieve their objectives.

The field of finance rest heavily on the works of economist and uses many economics tools. This begins with theories and assumption developed in micro-economics which are applied in an attempt to explain the working off modern business from financial analysts forecast for the industry and the overall economic activity in far way east, mainly, in the republic of chain a, Hong, Kong, Talwan and south Korea, micro finance are seen as new establishment in entrepreneur performance (small scale enterprises) whose annual turnover on the average does not exceed three million American dollars and the present capital invested in generally below are million American dollar.

In Nigeria, Imo State to be precise, the same trends is applicable but with compliance to Nigeria law of CAMA of 1990 where a small scale enterprises having its one million naira nair. It is also an enterprise having its annual turnover to less than a half a million that is N500,00 (the central bank credit any monetary guideline of 1980). It is a provide enterprise registered with the Nigeria co-operative affairs commission with a proposed authorized share capital of an amount not less than N10,000.

Generally, there is no universal definition of micro financing since there are usually money non instant factors and variable that affect it.

Micro finance can be defined according to the size of small scale business, as an amount of authorized share capital with which is firm is registered with volumes and financial stronger relative size, they of industry, capital employed or outlet.

1.1 Background Of The Study

Before the coming of British colonialism (the imposition of a more developed culture over a less developed ones) into the present day Nigeria, the entire territory of Nigeria economy art from agriculture, also practiced a variety of art in the form of stewardship. Stewardship micro financing, has its origin in the function which micro financing saved from the earliest times in the history financing society of providing the owners of wealth with a means of eye guarding it from then embezzlement.

These steward rendered an account periodically of his stewardship. Stewardship micro financing involved the orderly recording of business transaction, although accounting records of this type of data back to as early 4500 Bc the method of keeping until fairly recent time.

The main principels fo the Italian method during the period of time in Italy, between the 14th and 17th centuries, as it was there know were set out by “luca Pacioli in his farmers” treatise June a de arithmetical geometrical, proportioned that is, proportion and lita “which was published in Venice in 1594 (Glanter et al 1985:5) but in recent time, micro finance was newly introduced in china and other eastern countries like Hong kong Taiwan and South Korea. But Nigeria was considered to be face with the challenge and opportunity of creating a micro financing base that can guarantee self sustaining growth.

1.2 Statement Of The Problem

Micro finance is a new establishment to both small and medium scale enterprises in our this world.

Micro finance on both small and medium sized enterprises (SME’S) are important to economic growth and contributions significantly to economic development in both developed and developing countries. Many a times they are faced with series of problems some of which are.

  1. Inadequate training:Meaning entrepreneurs lack training to prepare there own accounts.
  2. Many SME’S lack skilled accounting or micro finance personnel and infrastrures to implement the existing accounting rules and regulations.
  3. Many SME’S are not aware or not convinced of the usefulness of accounting for control and decision making purposes.
  4. Many SME’S do not keep proper financial records and accounts
  5. Many entrepreneurs do not have enough capital to start or increase their business.

1.3 Aim and Objectives Of The Study

The aim of the study is to examine the impact of micro finance on its entrepreneurs performance. In achieving this aim, the following specific objectives were laid out as follows:

  1. To investigate some government policies that affect micro finance
  2. Investigate the mdoes of finance of selected organizations.
  3. To examine the problems facing the impacted micro finance in small scale enterprises.
  4. To examine the micro finance process involved in small scale enterprises.
  5. To identify possible solution to the financing problem faced by enterprises.

1.4 Research Questions

Micro finance is a new establishment to both small and medium scale enterprises in both developed an developing countries. For micro- finance to be effective and sufficient to an enterprises, the following questions should be asked,

  • Is it possible to combine accounting /micro finance for internal and external uses?
  • Would one micro finance system fit all enterprise?
  • Should all enterprises use the same micro finance systems?

1.5 Significance Of The Study

Micro finance plays an important and active role in any small scale enterprises, particular in the developing countries (Aderson 1982:20) Micro finance are so vital in the performance of entrepreneurs if any of our economy could go on without their theories, principels and concept. They are well known for small scale enterprises, and are ready to take business risk by exploring new ideas or perceived favourable market opportunity. Micro finance tendency to conserve exchange, and also leads to the development of indigenous entrepreneurs skill. It can also serve as an insurance for industrial development. The benefit that most enterprises proides can only be reaped if the yare encourage to develop a proper micro finance interal control system.

Micro finance of small scale enterprise required financial attention in order to achieve the maximum benefit of SSE. Proper account must be kept in order to know the true state of affairs of the business at any point in time. It also shows whether there is surplus or deficiency which was accrual during a specified period. Therefore, it is of paramount impact to carry out thus research.

1.5 Scope Of The Study

The scope of this research is focused on the Impact of Micro Finance on Entrepreneurs Performance in Nigeria.

1.7 Limitation Of The Study

This study will be limited to the country world wide it will also focus on the development and growth of small scale industries in the world especially Nigeria as a country, from the period independence to the present day (that is between 1960-2011). It will also highlight government polices affecting industry, as well as problems and also account possible solution which will be to these problems.

1.8 Definition Of Terms


This is the management of money especially money controlled by a government, company or large organization


Small scale enterprise. They are business owned and financed by private individual whose annual turnover does not exceed N2million with net assess of not more than1million (CAMA0.


This is an item which are owned and by small scale business

Book Keeping:

This is art of recording primarily business transaction in on orderly manner so that the time, results will be show at any point in time (B. N Okezie, financial accounting).


This are what the company owes to outsides.

Trading Profie And Loss Account:

This is a financial statement which shows whether a firm is making profit or loss (income statement).


These are items of value that are used but not owned by an enterprise (business finances. A.A Ojiuko)


This is a form of diary for which transaction made on daily basis are recorded.


This is the recording, reporting, measuring and keeping of data in an orgnaizaiton, activities using a widely acceptable double entry book keeping system

1.9 Organization of Chapters

This study will be organized into three chapters. The first chapter will be introduction which will include the background of the study, statement of the problem, objectives of the study, research questions, significance off the study, limitation of the study and definition of terms.

Chapter two will be on literature review and it will cover the view of notable individuals and writers on the subject and also introduction.

Chapter three will be on research design and methodology, which will include introduction, population and sample size sample technique, validity and reliability of measuring instrument and method of data analysis.

Chapter four will be presentation and analysis of data which will include introduction, presentation of data, analysis of data, interpretation of result.

Chapter five is summary, conclusion and recommendation.

Then reference and appendix follows.


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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