Bank High Interest Rate and Business Performances of Small and Medium Scale Enterprises (SMEs) in Osun State, Nigeria

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dc.contributor.authorAjayi Ezekiel Oluwole Ph.D
dc.contributor.authorYusuf Ismaila Ph.D
dc.date.accessioned2025-06-02T11:44:04Z
dc.date.available2025-06-02T11:44:04Z
dc.date.issued2020-12-13
dc.description.abstractThe extent to which high interest rates affect the business performance of SMEs in Nigeria has been a subject of debate. The objective of this study is to investigate the effect of high bank interest rate loans on the business performance of SMEs in Osogbo metropolis, Osun State, Nigeria. To achieve this objective, a well-designed questionnaire on a five (5) Likert scale was randomly administered to the selected SMEs in Osogbo metropolis. The data collected were analysed using regression analysis. Two hypotheses were formulated and tested, and the results of the study revealed that high interest rates have a negative impact on the business performance of SMEs, as most of the SMEs find it very difficult to pay back the loan. The study therefore recommended that there is a need for the government to rejig all SME financing policies to make them more effective and equal and mandate banks to give low single-digit interest rates to SMEs to enhance their respective business operations and performance.
dc.identifier.citationAjayi, E.O. &Yusuf, I. (2020): Bank High Interest Rate and Business Performance of Small and Medium Scale Enterprises (SMEs) in Osun State, Nigeria. BINGHAM Journal of Economics & Allied Studies 4(2), 198 – 209. Published by department of Economics Faculty of Humanities, Social and Management Sciences, Bingham University, Karu Abuja.
dc.identifier.issn2645-3045
dc.identifier.urihttps://kwasuspace.kwasu.edu.ng/handle/123456789/5407
dc.language.isoen
dc.publisherDepartment of Economics, Faculty of Humanities, Social and Management Science, Bingham University, Karu
dc.relation.ispartofseriesVol.4; No. 2
dc.titleBank High Interest Rate and Business Performances of Small and Medium Scale Enterprises (SMEs) in Osun State, Nigeria
dc.typeArticle
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