IMPACT OF CURRENCY RE-DESIGN ON SMALL AND MEDIUM-SCALE ENTERPRISES (A STUDY OF CHICKEN REPUBLIC, ILORIN)
Abstract
ABSTRACT
This research project is dedicated to evaluating the impact of currency redesign on small and medium-scale enterprises (SMEs), with a specific case study focusing on Chicken Republic, Ilorin. The study is structured into five main chapters, which encompass providing background information, conducting a comprehensive literature review, elucidating the chosen research methodology, presenting the findings and conclusions, and finally, discussing the limitations of the study. The primary findings highlight that currency redesign has exerted a pervasive and predominantly negative influence on the operational efficiency of Fortunate Bakery and similar SMEs. One of the primary sources of this impact is the scarcity of new currency notes, a factor that has engendered various challenges. This research offers valuable insights for policymakers and stakeholders to understand the implications of currency redesign on SMEs better and tailor interventions accordingly.
Keywords: Currency redesign, Small and medium-scale enterprises (SMEs), Impact assessment and Operational efficiency
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