The influence of microfinance banks on the survival of small business in Nigeria

Abstract

This paper seeks to examine the influence microfinance banks on small business survival in Nigeria. The survey method was used. A sample of 309 small business owners was randomly selected. A structured questionnaire was administered on sample. The primary data that is collected was complemented secondary data (business record) obtained from the sampled businesses owners. The collected data was evaluated using PLS path modelling. The results show that MBFs positively influence the survival of small businesses. On the basis of this major finding we recommended that better financing options such as bank of investment should be made available to small businesses in line with the long-term survival imperatives of the small businesses financed.