Small Enterprises Issues and Perception Towards RIT on Business Loan Factors for Substantial Progress in Selected Urban Areas of Kano State of Nigeria

Abstract

Small enterprises (SE’s) are a major constrain for guaranteeing the soundness of economic improvement, expanding the changeability and compliance of the national economy to inside and outside fluctuating circumstances. SE’s business situated to fulfill the local needs of market and it make possible to use nearby workforce and accessories including materials and work in progress have important role in solving unemployment problem domestically in Nigeria. The study found that there are many of problems and challenges faced by SEs and factors considered for bank loan sanctioning is a long process and the SEs has to contemplate the RIT of the bank loan. The results of a survey on 380 sample respondents who are engaged in manufacturing and service sectors in urban areas of Kano state of Nigeria. It covers the difficulties encountered by SE’s in connection to bank loan and possible suggestions to empower the progressive growth of SE’s.