International Journal of Advances in Management and Economics (IJAME)

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TitleStatutory Institutional Finance Scheme and Entrepreneurial Development in Lagos State
AuthorAkande O.O
AbstractThis study empirically evaluates the effect of statutory institutional finance scheme on entrepreneurial development in Lagos state, Nigeria. Both Primary and secondary data were employed in this study. Data were collected through questionnaire was carried out in Lagos state on selected two hundred and fifty (250) entrepreneurs in Lagos state Lagos state, in which Lagos were stratified into five (5) strata representing the 5 divisions that make up the state which comprises of Ikeja Badagry, Ikorodu Lagos Island and Epe divisions. (IBILE), but only two hundred and one (201) were filled-in and returned. Data were analysed using descriptive statistic tool and the formulated Hypotheses were tested through Regression Analysis and Anova. The result of tested hypotheses indicated that statutory institutional finance scheme has positive significant effect on entrepreneurial development in Lagos state, Nigeria with ( R2 of 0.76%; Adj R2 75% ; P<0.05). Base on the findings it is recommended that Government at large should formulate flexible laws and by- laws which are user friendly for different small enterprises seeking loans from different financial institutions.

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