Indigeneous Financing; an Effective Strategy for Achieving the Entrepreneurial Objectives of SSEs

This paper examines the effectiveness of Esusu scheme as a strategy for achieving the entrepreneurial objectives of SSEs using selected entrepreneurs in Ado-Odo Otta, Ogun State, Nigeria as a case study. The paper adopted an exploratory method of research design and empirical analysis. It reviews extensively literature on the subject and the results of the data analysis help us to draw conclusions and make recommendation. Structured questionnaire was used to collect data from sampled Small Scale Entrepreneurs who have been beneficiaries of the Esusu Scheme. The results reviewed that although most of the SSEs under our study are unorganized and not formally registered with the Nigerian Corporate Affairs Commission (CAC), the Esusu scheme has helped many of them to achieve their personal and business objectives. The study also identifies that lack of government involvement in the regulation of the scheme is a major challenge that affect the effectiveness of the scheme in Nigeria. Among others, the paper recommends the need for SSEs operators to be more organized, which will help create a platform to attract government intervention in terms of funding and regulation of the Esusu scheme in Nigeria. Keywords: Esusu Scheme, SSEs, Entrepreneurs and Financial Objectives