Descriptive research designs as well t-test statistics for the test of hypotheses were utilized.
The development of skills, attitude, and knowledge has also been identified as a crucial factor for the development and expansion of Small and Medium Enterprises in the country and most of the developing world Essien and Udofia, Small and medium scale enterprises and investment opportunities in Nigeria is identified by Akinyemi are; Agricultural and Agro Allied industries Leather industries Paper product Textile and associated industries Metal and Engineering Manufacturing Educational Establishment Wood and Wood Works Traditional Craft and Cultural heritage Tourism and leisure Information Technology and Telecommunication Solid mineral and Construction works.
These and many more are the objective which this research work seeks to explore. It is managed by its owner or owners in a personalized way, and not through the medium of a formalized management structure and It is independent in the sense that it does not form part of a larger enterprises and that the owner or manager should be free from outside control in taking their principal decisions.
The finding of our results suggests that the theoretical modeling requirements for all the variables used in the regression satisfy the statistical requirements that determine the choice of the statistical model.
The financing in most cases is normally provided by the owners rather than external source of capital. It should also sustain the current ongoing reforms in the sector to stimulate productivity as well as the continuous enlightenment campaign by the Central Bank of Nigeria, banking industries, relevant government ministries and agencies while indigenous entrepreneurs must be ready to show greater desire to institutionalize and separate company from self and be ready to be helped.
Such scenario has been the bane of SMEs in Nigeria resulting in the need for external borrowing. Small firms are backbone of national development, for a country to reach its full potentials in terms of economic and social development, it cannot afford to ignore the importance of its indigenous small and medium scale enterprises and the contribution that they make to the country economy.
Research Hypotheses The hypotheses stated in null forms as outline below: H Banks credits to SMEs have no significant impact on the growth of Nigerian economy. Hypotheses applied for the study includes: banks credits to SMEs have no significant impact on growth of Nigeria economy as well as interest rates charged on credits has no effect on SMEs business expansion in Nigeria.
Mambula I. This problem has a direct link to planning and management Alasan and Yakubu,