AN ANALYSIS ON THE FINANCING OF SMALL AND MEDIUM ENTERPRISES FOR SUSTAINABLE GROWTH IN KANO STATE

Small and medium enterprises (SMEs) play a crucial role in promoting economic growth, employment generation, and poverty reduction in developing economies. However, access to finance remains one of the major challenges affecting the growth and sustainability of SMEs in Nigeria. This study examines the financing of small and medium enterprises for sustainable growth in Kano State. The research adopted a descriptive survey design and targeted traders operating within Kano State. A total population of 85 traders was identified, while 70 respondents were selected as the sample size using a simple random sampling technique. Data were collected through questionnaires and interviews and analyzed using descriptive statistical methods. The findings reveal that access to adequate financing significantly influences the growth and sustainability of SMEs. However, many entrepreneurs face challenges such as limited access to bank loans, high interest rates, and lack of collateral requirements. The study concludes that improved access to finance can enhance the productivity and sustainability of SMEs. It recommends that government and financial institutions should develop supportive financial policies and funding programs to promote SME development in Kano State.