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    Home»Business Matters»Financial constraints slowing down growth of small businesses in Nigeria — FATE Foundation

    Financial constraints slowing down growth of small businesses in Nigeria — FATE Foundation

    Business Matters By Temitope N.Nov 28, 2021No Comments1 Min Read
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    Lack of financial support has been highlighted as major impediments to growth of small-scale businesses in Nigeria.

    FATE FOUNDATION
    FATE FOUNDATION

     

    Latest report by FATE Foundation on business performance in Nigeria, disclosed that limited access to finance, inadequate infrastructure, poor financial management and government policies, poor capacity and insecurity are leading collapse of many small scale businesses in the country.

     

    The report obtained by The Guardian, described entrepreneurship as “fairly strong” in Nigeria, and insisted that government must intensify efforts to improve the operating environment for young businesses by addressing core traditional and non-traditional issues.

    It stated: “Most businesses set up by entrepreneurs have been successful, with 66 per cent of respondents affirming that the businesses they have set up have been successful as against 34 per cent that said their businesses failed.”

    See also  President Muhammadu Buhari Commissions WalterSmith Refinery In Imo State

    The Executive Director of FATE Foundation, Adenike Adeyemi, said entrepreneurship remained a powerful force and an important influencer for driving innovation, productivity, job creation and economic growth

    Support InfoStride News' Credible Journalism: Only credible journalism can guarantee a fair, accountable and transparent society, including democracy and government. It involves a lot of efforts and money. We need your support. Click here to Donate

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