FINANCIAL ACCESSIBILITIES OF MICRO-ENTERPRISES IN ILORIN METROPOLIS OF KWARA STATE

Hafsat Olatanwa AFOLABI

Abstract

Micro enterprises are the engine room for the development of any economy, because they form the bulk of business activities in any growing economy. Nigerian governments having realized the importance of this sector embarked on different programmes to address the problem of poor financing of micro enterprises yet not much success was recorded. Thus, this study examined financial accessibilities of micro-enterprises in Ilorin metropolis of Kwara State. The study employed primary data obtained through questionnaire administration. Descriptive statistics and ordered logit regression were used to achieve the objectives of the study. Results of the regression analysis revealed that collateral requirement is a significant determinant of financial accessibilities of micro-enterprises in Ilorin metropolis with coefficient value of 0.4720 and at 5% level of significance. The study concluded that collateral requirement influences the accessibility of financial accessibility of micro-enterprises in Ilorin metropolis of Kwara State. Therefore, the study recommended that credit giving institutions and government should come up with products for micro-enterprises where collateral requirements are lenient.

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