ABSTRACT
Small-scale enterprises like Hapel Nigeria limited generally suffer from lack of adequate finance. The introduction of the structural adjustment programme compounded the problem such that the enterprise could hardly finance the fixed capital requirements.
In this circumstance, small-scale enterprise like Hapel Nigeria Limited would seek for a financing device that would enable them to obtain the use of required equipment without making outright payment. Leasing seems to be the answer. This study therefore, attempts to establish a case for leasing as a major financing device for small-scale enterprise by assessing the effectiveness of the source of finance available to them.
In terms of review of related literature, financing means for small-scale enterprise like Hapel Nigeria Limited was discussed and the Nigerian bank for commerce and industry was seen as the greatest supplier of credit to small-scale enterprise. The concept and evolution of leasing was looked into and thus leasing was seen as a contract between a leasor and lessee giving lessee possession and use of a specific asset on payment of rentals over a period.
In terms of methodology, the descriptive and historical research method is used. Data generated from the questionnaire administered and interviews were analyzed.
Based on the analysis of data, some interesting findings were made. In the first place, it was found that many small-scale enterprises engage in manufacturing business and most of the small-scale enterprises about 99.9% of them were aware of leasing financing technique. Most of the small-scale enterprises acquire the use of their required equipments through lease transactions. It was also found that the levels of awareness among small-scale enterprise acquire the use of their required equipments through lease transitions.
It was also found that the level of awareness among small scale enterprise like Hapel Nigeria Limited make effort to use lease financing techniques in their business transactions and this leasing has brought a lot of increase in their level of productivity.
The conclusion based on the findings was that leasing should be increasingly used by small-scale enterprise to activate the problem of financing burden in small-scale enterprises.
The researcher made some recommendations viz:
The Central Bank should effect changes in its credit guidelines with respect to leasing. Secondly, adequate publicity should be mounted to maintain and increase the level of awareness of leasing among small-scale enterprises.
TABLE OF CONTENT
Title page i
Approval page ii
Dedication iii
Acknowledgment iv
Table of contents vi
List of tables x
Abstract xii
CHAPTER ONE
1.0Introduction 1
1.1Background of the study 1
1.2Statement of the problem 4
1.3Objective of the study 4
1.4Scope of the study 5
1.5Research questions 6
1.6Significance of the study 7
CHAPTER TWO
2.0Review of literature 8
2.1Definition of small scale enterprise8
2.2Financing enemies for small scale enterprise 10
2.3Concept and evolution of leasing 18
2.4Types of leasing 21
2.5Central bank guidelines and leasing 26
2.6Summary of related literature 28
CHAPTER THREE
3.0Methodology 30
3.1Research design 30
3.2Area of study 30
3.3Population of the study 30
3.4Sample and sampling procedure 31
3.5Instrument for data collection 32
3.6Validation of the research instruments 32
3.7Reliability of the research instruments 33
3.8Method of data collection 33
3.9Method of data analysis 34
CHAPTER FOUR
4.0Data presentation and results 35
CHAPTER FIVE
5.0Discussion, implications, recommendations 44
5.1Summary of findings 44
5.2Discussion of results 45
5.3Conclusion 50
5.4Implications of the study 50
5.5Recommendations 51
5.6Suggestions for further studies 53
5.7Limitation of the study 53
References 55
Appendix 56