Effective Financing and Management of Small Scale Businesses in Delta State, Nigeria: A Tool for Sustainable Economic Growth

This study investigated the problems of entrepreneurship in Nigeria, with a view to examining the major factors militating against entrepreneurial development and growth in Nigeria. It sought to know whether small scale entreprises (SSEs) which is a tool for sustainable economic growth is effectively financed and managed. Interview and structured questionnaire were used to collect data. The data collected were analyzed using Z-test, chi-square and simple percentage. The questionnaire was administered on the sample size of 90 respondents. It was discovered that high cost of production, lack of technological knowhow and high interest rate on loan borrowed are factors thwarting the growth and development of small scale businesses in Nigeria. Based on this, it was recommended that the government should create the enabling environment for entrepreneurship to thrive through the provision of infrastructure facilities especially stable power supply, workshop and seminars should be organized for the training and retraining of entrepreneurs, the CBN should implement and monitor it's policy on micro finance banks to see that loans get to the real entrepreneurs at a reduced interest rate.