The Effect of Equity Financing on Entrepreneurship Business Development in Lagos State, Nigeria

Akanbi, M. A. and Akinbola, O. A. and Ogbari , M. E. (2011) The Effect of Equity Financing on Entrepreneurship Business Development in Lagos State, Nigeria. International Journal of Management & Business Studies, 1 (2). pp. 16-20. ISSN 2330-9519

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Abstract

The paper investigates the effect of equity form of financing on entrepreneurship business development in Lagos State, Nigeria. A total sample size of 240 business enterprise of various categories was interviewed in three Local governments (Lagos Island, Ojo and Alimosho) in Lagos state through the administration of questionnaires. Frequency table and descriptive statistics were used to analyze the data collected. The result obtained from frequency indicated that65% of entrepreneurs indicated that government programmes such as: NERFUND, CBN, SSICS, NBCI funding of small-scale enterprise has been assisting entrepreneurship business development. Also, the greater proportion of entrepreneurs agreed that they took short term loans to finance their businesses. However, one of the findings from hypotheses testing clarified that there was positive effect of equity financing on entrepreneurship business development in Lagos state. The paper hereby recommends that Banks should cooperate more in assisting small-scale entrepreneurs to grow, and not just granting them short term loans so that the country’s (Nigeria’s) business unit can develop more.

Item Type:	Article
Uncontrolled Keywords:	Entrepreneurship, Equity financing, Short term and Long term
Subjects:	H Social Sciences > HF Commerce
Divisions:	Faculty of Law, Arts and Social Sciences > School of Management
Depositing User:	Mr Solomon Bayoko
Date Deposited:	03 Nov 2014 12:40
Last Modified:	03 Nov 2014 12:40
URI:	http://eprints.covenantuniversity.edu.ng/id/eprint/2896

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