Impact of microfinance banks services on SMEs performance amid COVID 19 recovery: Evidence from Kano metropolitan area.
Keywords:COVID 19 pandemic, SMEs’ performance, Microfinance banks, small and medium scale enterprises (SMEs)
Microfinance banks significantly support small and medium-scale enterprises, particularly in emerging economies like Nigeria. The need for this support becomes necessary in the post-COVID-19 recoveries. This paper investigates microfinance banks' impact on SMEs' performance as many went into bankruptcy due to the COVID-19 pandemic. The study collected survey data from SMEs in Kano metropolitan area. The study used a convenience sampling technique on 422 samples in the study area, and PLS-SEM was used for data analysis. The study reveals a positive and significant relationship between entrepreneurial skills and the performance of SMEs in Kano. Similarly, the relationship between microcredit and SMEs performance was positive and significant. Therefore, the study concludes that microfinance banks’ services positively and significantly influence SMEs performance. If microfinance banks provide SMEs’ owners with access to entrepreneurial skills training, small credits without stringent requirements and savings services, their operational performance and profitability would improve immensely.
Keywords: COVID 19 pandemic, SMEs’ performance, Microfinance banks, small and medium scale enterprises (SMEs)
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© 2022, Centre for Foundation and Interdisciplinary Studies, Baze University, Abuja
Electronic Publication 2022
All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, except as permitted by the copyright owner, Baze University Journal of Interdisciplinary Studies (BUJEIS), Baze University, Abuja.