n Journal of Emerging Trends in Economics and Management Sciences - Sources of financing small scale foundry enterprise

Volume 7 Number 4
  • ISSN : 2141-7024
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The government of Nigeria has not paid special attention to Small Scale Foundries (SSFs) industry. Nevertheless, individuals and private investors are involved in producing several thousands of tonnes of castings annually generating revenue for the government through taxation as well as helping with metal waste disposal. Metal cast products are sold both locally and internationally to neighbouring countries. The industry is however faced with numerous challenges. These include access to funding from both government and private financial institutions. To promote this industry, government and private financial institutions must be encouraged to come on board. This paper has looked into the various sources of finance for the development of small scale foundry enterprises. In attempting to look at these sources, the ownership structures of foundry were highlighted. Furthermore, problems that serve as impediments to financing were also mentioned.

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