The Impact of Funding on Micro, Small and Medium Enterprises (MSMEs) and Women-Owned Small and Medium Enterprises (WSMEs) in Kano State

This study examines the impact of funding programmes on Micro, Small and Medium Enterprises (MSMEs) and Women-Owned Small and Medium Enterprises (WSMEs) in Kano State, Nigeria. The research objectives include assessing stakeholders’ awareness of existing funding programmes, identifying barriers to fund accessibility, and proposing viable recommendations for improvement. A survey research design was adopted, utilizing structured questionnaires administered through simple random sampling techniques. Data were analyzed using descriptive statistics, with weighted mean values employed for decision-making based on sample characteristics and measures of central tendency. The findings reveal a significant level of awareness among MSME and WSME owners regarding the existence of funding programmes; however, notable knowledge gaps persist concerning programme locations and access procedures. Additional challenges identified include misconceptions about bank loan processes, inadequate participation in sensitization workshops, and limited involvement of enterprise owners in capacity-building initiatives organized by funding institutions. The study recommends that government agencies and financial institutions adopt more comprehensive and inclusive approaches to funding scheme implementation to ensure effective policy financing. Furthermore, the Central Bank of Nigeria and related funding bodies should intensify awareness campaigns on available funding opportunities. Reducing high interest rates would enhance accessibility for entrepreneurs with viable business proposals. Encouraging SME unions and associations to formalize government registration would also strengthen collective bargaining power and improve access to funds. These measures would significantly enhance financial inclusion and enterprise sustainability in Kano State.