THE IMPORTANCE OF FINANCIAL INSTITUTION IN THE DEVELOPMENT OF SMALL SCALE INDUSTRIES

ABSTRACT

This extended essay aims to appraise the importance of financial institution in the development of small scale industries in Nigeria. The aim is to ascertain the importance of financial institution and how these financial institution support the growth and development of small scale industry. And the problems of small scale industries that makes them efficient and how they are solve through the hedge provided by financial institution through quality loan at subsidies rate, insurance etc. It is necessary to give financial support to small scale business because of their great function they perform in the economy. Finally, the extended essay do not down that the content of this essay will eliminate all the problem that small scale business has been facing. Its however, hoped that the department will take cognizance of some of this essay and on them accordingly.

TABLE OF CONTENTS

Title pagei

Declarationii

Approval pageiii

Dedicationiv

Acknowledgementv

Abstractvii

Table of contents

CHAPTER ONE:

INTRODUCTION

1.0Introduction1

1.1Background of the Essay1

1.2Objective of the Essay4

1.3Significance of the Essay5

1.4Scope and Limitation6

CHAPTER TWO:

LITERATURE REVIEW

2.0Literature review8

2.1Small scale enterprises defined8

2.2Characteristics of small business enterprise

to the economy13

2.3Contribution of small scale industries to economy15

2.4Problems of small business16

2.5Function of financial institution21

2.6Lending policies of commercial banks22

CHAPTER THREE:

SUMMARY, CONCLUSION AND RECOMMENDATION

3.0Introduction27

3.1Summary of findings 27

3.2Conclusions29

3.3Recommendations29

Bibliography33

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APA

Kings, S. (2018). THE IMPORTANCE OF FINANCIAL INSTITUTION IN THE DEVELOPMENT OF SMALL SCALE INDUSTRIES. Afribary. Retrieved from https://afribary.com/works/the-importance-of-financial-institution-in-the-development-of-small-scale-industries-6076

MLA 8th

Kings, Solomon "THE IMPORTANCE OF FINANCIAL INSTITUTION IN THE DEVELOPMENT OF SMALL SCALE INDUSTRIES" Afribary. Afribary, 29 Jan. 2018, https://afribary.com/works/the-importance-of-financial-institution-in-the-development-of-small-scale-industries-6076. Accessed 11 May. 2025.

MLA7

Kings, Solomon . "THE IMPORTANCE OF FINANCIAL INSTITUTION IN THE DEVELOPMENT OF SMALL SCALE INDUSTRIES". Afribary, Afribary, 29 Jan. 2018. Web. 11 May. 2025. < https://afribary.com/works/the-importance-of-financial-institution-in-the-development-of-small-scale-industries-6076 >.

Chicago

Kings, Solomon . "THE IMPORTANCE OF FINANCIAL INSTITUTION IN THE DEVELOPMENT OF SMALL SCALE INDUSTRIES" Afribary (2018). Accessed May 11, 2025. https://afribary.com/works/the-importance-of-financial-institution-in-the-development-of-small-scale-industries-6076

THE IMPORTANCE OF FINANCIAL INSTITUTION IN THE DEVELOPMENT OF SMALL SCALE INDUSTRIES

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