Impact of Non-Financial Services by Listed DMBs on the Development of SMEs in Nigeria

Abstract

This study examined the Impact of Non-Financial Services by listed DMBs on the development of Small and Medium Enterprises (SMEs) in Nigeria. The study adopted survey research design by administration of questionnaire to a sample size of 150 drawn from the population of Micro, Small and Medium Enterprises (MSMEs) registered with CAC. Descriptive statistics, t-test and simple linear regression analysis were employed to analyze the data with the aid of SPSS. The findings of the study revealed a strong and statistically significant relationship between non-financial services and SMEs’ growth and development. Based on this, the study recommends that Deposit Money Bank (DMBs) should focus on tailoring their non-financial services to meet specific needs of different categories of MSMEs as classified by SMEDAN. There is also the need for increased awareness among SMEs regarding availability and benefits of non-financial services provided by DMBs.