Impact of national cooperation on the economic upswing of small & medium enterprises in Nigeria

Small scale businesses face several challenges in Nigeria affecting their growth and development; and to address some of the challenges faced by SME, the federal government of Nigeria set up agencies such as Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) with the aim of aiding the growth and development of SME. This thesis looked at how SMEDAN as a national cooperation has contributed to the development of SMEs in Nigeria. The study utilized survey research design as its methodology; primary data was collected using questionnaire from a sample size of three hundred and two respondents. The major finding of the study was that SMEDAN contribute to SME through training to improve their skill and competence on developing and expanding their businesses. The study also found that SME face a major challenge in repaying the loans provided for them as the interest rate is often high. The study recommended that the interest rate placed on loans granted to the SME be reviewed downward at no interest rate and repayment period be elongated to allow the business owners recoup their investment make profits and then pay up the loans.