ABSTRACT
This study was carried out in order
to understand the significance of equipment leasing as well as its challenges
and benefits to small businesses. It was necessitated by the researcher's
interest in finding out the prevailing perceptions and realities of leasing as
it concerns small businesses. The main objectives of the project are: - to find
out the benefits of leasing over other asset financing options, to investigate
the reasons behind the seeming indiflrence of small businesses to leasing, to
uncover issues that small businesses should be concerned about while considering
the lease option etc. The primary data for the research were collected using a
questionnaire distributed to management personnel of a sample of 80 small
businesses selected by non-probability sampling method. In addition to this,
personal interviews were used to elucidate and support the questionnaire
responses. The secondary data were sourced from internet articles and published
texts. te data were presented and analysed by means of simple frequency
tables, array rankings, percentages and prop0rtio1s, as well as pie and bar
charts. The major results obtained show that: - interest of small businesses
in equipment leasing has been on the rise in preference to other sources of
equipment financing. However, popularity was found to be prompted primarily by
internal constraints such as high equipment costs and seasonal nature of
equipment needs rather than external influences. It was further discovered that
exorbitant lease premium along with several risks and difficulties identified
by respondents were discouraging additional interest in leasing equipment. and
that favourable pricing, purchase terms and value-enhancing services by lessors
would go a long way to satisfy the small business lessee. Finally, the
researcher encouraged government to speed up efforts on enacting a leasing law,
plus policies nurturing of small businesses; suggested the idea of establishing
a leasing bank to the central bank; and lastly pleaded with the entire business
community to embrace healthy and socially responsible ethics.
UKA, I (2021). Equipment Leasing As An Option For Financing Small Scale Business (A Case Of Selected Small Scale Businesses In Umuahia). Mouau.afribary.org: Retrieved Nov 27, 2024, from https://repository.mouau.edu.ng/work/view/equipment-leasing-as-an-option-for-financing-small-scale-business-a-case-of-selected-small-scale-businesses-in-umuahia-7-2
IGWE, UKA. "Equipment Leasing As An Option For Financing Small Scale Business (A Case Of Selected Small Scale Businesses In Umuahia)" Mouau.afribary.org. Mouau.afribary.org, 27 Jul. 2021, https://repository.mouau.edu.ng/work/view/equipment-leasing-as-an-option-for-financing-small-scale-business-a-case-of-selected-small-scale-businesses-in-umuahia-7-2. Accessed 27 Nov. 2024.
IGWE, UKA. "Equipment Leasing As An Option For Financing Small Scale Business (A Case Of Selected Small Scale Businesses In Umuahia)". Mouau.afribary.org, Mouau.afribary.org, 27 Jul. 2021. Web. 27 Nov. 2024. < https://repository.mouau.edu.ng/work/view/equipment-leasing-as-an-option-for-financing-small-scale-business-a-case-of-selected-small-scale-businesses-in-umuahia-7-2 >.
IGWE, UKA. "Equipment Leasing As An Option For Financing Small Scale Business (A Case Of Selected Small Scale Businesses In Umuahia)" Mouau.afribary.org (2021). Accessed 27 Nov. 2024. https://repository.mouau.edu.ng/work/view/equipment-leasing-as-an-option-for-financing-small-scale-business-a-case-of-selected-small-scale-businesses-in-umuahia-7-2