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ABSTRACT
The purpose of this study was to establish the relationship between the contributions of insurance companies and the growth of SMEs in NICON basing on the following objectives; to examine major factors that affects the growth of SMEs; to assess the contribution of insurance companies to the growth of SMEs; to investigate the factors inhibiting the purchase of insurance cover by SME operators and to determine the strength of the relationship between insurance companies and growth of SMEs. The research was descriptive in nature involving quantitative methods which was administered through questionnaires. The total sample comprised of 65 respondents of all the managers and employees of National Insurance Corporation. Simple random sampling was used whereby the researcher went to NICON and administered questionnaire to the sampled or selected employees. Primary data was obtained from the library materials, textbooks, NICON brochures, internet and journals. Data analysis was carried out using SPSS and frequency distribution tables. Findings revealed that innovation is a strong empirical evidence for fast growing SMEs, competition has a great effect on SMEs industry and credit remains a great challenge to the growth of SMEs. Besides that insurance companies mitigate risks and enhance loan acceptability by SMEs sector with banks. However low income earned by SMEs, high premium cost and paperwork and experience and beliefs inhibit the purchase of insurance cover by SMEs. Nevertheless, there is a strong positive relationship between insurance companies and the growth of SMEs at Spearman Correlation Coefficient.
It was concluded that improvement in business skills increases the performance of SMEs. However insurance companies do not lowers insurance rates and offer protection to SMEs income statements. In addition SMEs being small in size and their inability to fully understand the document limits them to get insurance cover. It was recommended that management of NICON need to build a great relationship with SMEs as their customers in orders to develop and grow them in trust and also lower the premium rates to SMEs in order to improve on their performance. Also NICON need to have a fresh look at the scope and spectrum of services provided to SMEs and has a better understanding on the scale of enterprise sector
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SIMILAR SME/ENTREPRENEURSHIP FINAL YEAR PROJECT RESEARCH TOPICS
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1. THE IMPACT OF ACCOUNTING INFORMATION SYSTEM ON SMES
» ABSTRACT Currently, most organizations continue to increase spending on information system and their budgets continue to rise. Moreover, economic cond...Continue Reading »Item Type & Format: Project Material - Ms Word | 52 pages | Instant Download | Chapter 1-5 | SME/ENTREPRENEURSHIP DEPARTMENT
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2. THE CONTRIBUTIONS OF UNITED BANK FOR AFRICA TO THE DEVELOPMENT OF SMALL SCALE ENTERPRISES IN NIGERIA A CASE STUDY OF KADUNA STATE
» CHAPTER ONE INTRODUCTION 1.1 Background of the Study In both developed and developing countries, the small scale industry is seen as the vehicle for r...Continue Reading »Item Type & Format: Project Material - Ms Word | 52 pages | Instant Download | Chapter 1-5 | SME/ENTREPRENEURSHIP DEPARTMENT
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3. AN APPRAISAL OF MATERIAL MANAGEMENT CONCEPT AS A STRATEGY FOR ACHIEVING HIGHER PRODUCTIVITY IN NIGERIAN BOTTLING COMPANY
» CHAPTER ONE INTRODUCTION 1.1 Background of the Study The Need for Appraisal of Material Management Concepts as a strategy for achieving higher product...Continue Reading »Item Type & Format: Project Material - Ms Word | 63 pages | Instant Download | Chapter 1-5 | SME/ENTREPRENEURSHIP DEPARTMENT
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4. THE IMPACT AND ROLE OF ENTREPRENEURSHIP ON THE ECONOMIC GROWTH OF NIGERIA
» CHAPTER ONE INTRODUCTION 1.1 Background Of The Study Some entrepreneurship growth, their faith could usually be determined at an early stage of operat...Continue Reading »Item Type & Format: Project Material - Ms Word | 52 pages | Instant Download | Chapter 1-5 | SME/ENTREPRENEURSHIP DEPARTMENT
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5. THE EFFECT OF ENVIRONMENTAL FACTORS ON THE SMALL AND MEDIUM SCALE BUSINESS IN NIGERIA
» CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF STUDY Oshimili North LGA with headquarters at Akwukwu Igbo was created out of the defunct Oshimili LGA in D...Continue Reading »Item Type & Format: Project Material - Ms Word | 79 pages | Instant Download | Chapter 1-5 | SME/ENTREPRENEURSHIP DEPARTMENT
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6. THE ROLE OF BUDGETING AND BUDGETARY CONTROL IN A BUSINESS ORGANIZATION
» CHAPTER ONE INTRODUCTION 1.1 BACK GROUND OF THE STUDY A budget is a financial and a quantitative statement prepared prior to a defined period of time ...Continue Reading »Item Type & Format: Project Material - Ms Word | 69 pages | Instant Download | Chapter 1-5 | SME/ENTREPRENEURSHIP DEPARTMENT
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7. AN EVALUATION OF WORKING CAPITAL FOR THE SUCCESSFUL MANAGEMENT OF ROSEMORE HOTEL, UYO
» Chapter one Introduction A firm usually evaluates its working capital management whether small or medium. The sole motive of every business is to make...Continue Reading »Item Type & Format: Project Material - Ms Word | 64 pages | Instant Download | Chapter 1-5 | SME/ENTREPRENEURSHIP DEPARTMENT
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8. ENTREPRENEURSHIP EDUCATION AND THE GROWTH OF SMALL HOLDERS BUSINESS
» CHAPTER ONE INTRODUCTION 1.1 Background of the study In developing countries such as Nigeria the economic landscape is changing, with a move from fore...Continue Reading »Item Type & Format: Project Material - Ms Word | 52 pages | Instant Download | Chapter 1-5 | SME/ENTREPRENEURSHIP DEPARTMENT
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9. IMPACT OF PRODUCTION PLANNING AND CONTROL AS A MANAGEMENT FUNCTION ON THE SURVIVAL OF SMALL SCALE BUSINESS
» CHAPTER ONE 1.1 BACKGROUND OF THE STUDY This project is all about assessing the impact of planning and controlling as a management function on the sur...Continue Reading »Item Type & Format: Project Material - Ms Word | 60 pages | Instant Download | Chapter 1-5 | SME/ENTREPRENEURSHIP DEPARTMENT
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10. EFFECT OF RECORD KEEPING ON THE EFFICIENCY OF COOPERATIVE MANAGEMENT
» CHAPTER ONE INTRODUCITION 1.1 Background to the Study Small and Medium Enterprises (hence forth, SMEs) have significant role in the economic developme...Continue Reading »Item Type & Format: Project Material - Ms Word | 71 pages | Instant Download | Chapter 1-5 | SME/ENTREPRENEURSHIP DEPARTMENT