Sources of Financing Start-Ups SMEs in Nigeria: A Study of Small and Medium Scale Enterprises in Yobe State

Abstract

Securing financing for start-up enterprises is crucial for the survival and expansion of small businesses, especially in developing economies. Small and medium-sized enterprises (SMEs) are seen as a driving force for growth in both developed and developing nations. This study focuses on the funding sources for launching small and medium-sized businesses in the Yobe state metropolis. It aims at examining the funding sources utilized by micro enterprises in Yobe State, the challenges related to these funding sources, and the preferred funding opportunities for micro enterprises in Yobe state. It advocates the need to adopt multifaceted approach in the quest to improve the financial ecosystem and proffers several means of doing so.