ASSESSSMENT OF THE FINANCIAL CONSTRAINTS AMONG ENTREPRENEURS OF SMALL SCALE BUSINESSES IN OYO STATE
Keywords:
Assessment, Financial constraints, Entrepreneurs, Small and Medium BusinessesAbstract
The current system of education in Nigeria emphasized Vocational and Technical Education towards achieving the goals of Vision 20-2020. Small scale businesses have been efficiently used as the vehicles for promoting innovation, productivity, and the competitiveness of a country's national economy. Among such Vocational and Technical Education is Home Economics Education courses which equip and prepare individuals to be self-reliant and employed in the society. This paper aimed at examining the financial constraints among entrepreneurs in small scale businesses in Oyo metropolis of Oyo State. The sample size of the study was 58 registered practitioners (respondents) purposively selected throughout the various small scale businesses in the study location. Structured questionnaire was used as instrument which was validated by experts in Home Economics education to guide the stated specific objectives. A reliability co-efficient of 0.75 was obtained after an interval of two weeks test-retest pilot study in another location. Data collected were analyzed using descriptive statistics of frequency and mean score. Findings of the study revealed that contribution of SMEs to Nigeria economy irrespective of gender differences, business entrepreneurs need to seek the opinion of various bodies to promote and develop their businesses. Conclusion was drawn while the study recommends among others that the three tiers of government should encourage SMEs friendly programmes that are gender sensitive.
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