MICROFINANCE SERVICES AND PERFORMANCE OF MICRO BUSINESSES IN ONDO STATE, NIGERIA

Abstract

This paper examined microfinance services and performance of micro businesses in Ondo State Nigeria. The study makes used of quantitative research technique by administering two hundred and forty (240) questionnaire. This study used four (4) licensed microfinance banks operating in Ondo and Akure town in Ondo State. Both descriptive such as frequency, percentages, mean and standard deviation; and inferential statistics such as Anova were used in analyses of this study with the use of SPSS for the analysis.   Findings show that the significant effect of microfinance service (F =428.834; p = 0.000) have a positive impact on the survival of these micro businesses, it also discovered that microfinance services have a positive impact on the productivity (F =13.757; p = 0.000). The study concluded that availability of micro finance services has a significant influence on the survival and productivity of micro business in Ondo State Nigeria. The study recommended that micro business should be able to access microfinance services for appropriate assistant