Comparative Analysis of Internal and External Financing Sources and Entrepreneurial Performance in South East, Nigeria (Published)
This study examines the comparative effects of internal and external financing sources on entrepreneurial performance in Nigeria. Entrepreneurial ventures require adequate financing for establishment, growth, innovation, and sustainability. However, many Nigerian entrepreneurs face severe financing challenges due to limited access to credit, high interest rates, inadequate collateral, and unstable economic conditions. The study comparatively evaluates internal financing sources such as personal savings, retained earnings, family contributions, and cooperative funding against external financing sources including bank loans, venture capital, government grants, trade credit, and microfinance loans. The study adopts a descriptive survey research design and relies on secondary and empirical literature relevant to entrepreneurial finance in Nigeria. The population of the study comprised of 21320 SME in the studied states. The sample size of 392 was drawn from the population of the study using Taro Yamani sample size determination method Findings reveal that internal financing sources promote managerial independence, flexibility, and reduced financial risk, while external financing sources enhance expansion, innovation, and business scalability. However, external financing often exposes entrepreneurs to repayment burdens and financial constraints due to high interest rates and strict lending conditions. The study concludes that a balanced financing structure combining internal and external sources significantly improves entrepreneurial performance in Nigeria. Based on the findings and conclusion of the study, we, therefore, recommended improved access to affordable credit facilities, government support policies, financial literacy programs and the strengthening of financial institutions to support entrepreneurial development.
Keywords: Comparative Analysis, Entrepreneurial Performance, Innovation, SMEs, South-East, Sustainability, external financing sources, internal financing sources
Assessing the Effect of Lead Time Management on Customer Satisfaction (Published)
The Microfinance Industry (MFI) emerging from the banking industry, lead time management is very important since the sector is highly dependent on very recent technology and customer service efficiency ethics which is capable of drastically reducing lead times. Customers are also highly informed and their demands and expectations are high. Customers want instant solutions when it comes to their financial or banking services. It is therefore important for microfinance companies to effectively manage their lead times to achieve higher levels of customer satisfaction. This study adopts the methodology of a hybrid approach consisting of qualitative and quantitative approaches in examining the impact of lead time on customer satisfaction in the microfinance industry, a sub sector of SMEs in Ghana. Sample size of 150 staff and customers mostly petty traders was considered from five selected branches of Talent Microfinance Company limited. In selecting the sample size of the petty traders for the survey, the Slovin’s sampling method was used. The study findings revealed that that minimizing waiting time in a bid to enhance customer satisfaction level can typically improve the competitiveness of microfinance services in Ghana as these are deemed the basic requirements for social development as well as for human civilization. Furthermore, establishing a scientific, workable and efficient banking system improves efficiency and enhances the competitiveness for banks to be an important society role. This is a requirement for banking industries own development, and a new inevitable challenge for modern Ghanaian financial institutions to increase the banking management development. The study recommends among several others that there is the need for improvement in academia or higher learning in Ghanaian microfinance institutions to link with other financial institutions in Ghana and identify gaps in the knowledge, values, skills and attitudes of their graduates most especially in TMCL.
Keywords: Customer Satisfaction, Ghana, Lead Time, MFIs, SMEs