Capital Financing Strategies of Small-Scale Contractors in Nigeria

Capital Financing Strategies of Small-Scale Contractors in Nigeria by Tony Emeka Anamege MBA, Regis University, 2012 BS, Southeastern University, 1992 Doctoral Study Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Business Administration Walden University March 2019 Abstract Small-scale contractors in Nigeria, as small business owners, face challenges accessing external sources of capital financing. Inadequate sources of working capital is one of the major reasons for poor business performance and failure. A multiple case study approach was used in this study to explore how small-scale contractors obtained capital financing to grow their businesses. The study population included small-scale contractors in the construction industry in Nigeria. Credit rationing model was chosen as the conceptual framework for the study. Semistructured interviews were used to collect data from 5 participants. Data analysis included thematic coding of the data using qualitative data analysis computer software. The 2 themes that emerged from data analysis were as follows: sources of small-scale contractors’ financing and constraints of sourcing smallscale contractors’ capital financing. This study could contribute to positive social change by stimulating the local economy through local capital formation, jobs creation, improved tax revenues for local authorities, and enhancement of the quality of life of those living in Nigeria.Small-scale contractors in Nigeria, as small business owners, face challenges accessing external sources of capital financing. Inadequate sources of working capital is one of the major reasons for poor business performance and failure. A multiple case study approach was used in this study to explore how small-scale contractors obtained capital financing to grow their businesses. The study population included small-scale contractors in the construction industry in Nigeria. Credit rationing model was chosen as the conceptual framework for the study. Semistructured interviews were used to collect data from 5 participants. Data analysis included thematic coding of the data using qualitative data analysis computer software. The 2 themes that emerged from data analysis were as follows: sources of small-scale contractors’ financing and constraints of sourcing smallscale contractors’ capital financing. This study could contribute to positive social change by stimulating the local economy through local capital formation, jobs creation, improved tax revenues for local authorities, and enhancement of the quality of life of those living in Nigeria. Capital Financing Strategies of Small-Scale Contractors in Nigeria by Tony Emeka Anamege MBA, Regis University, 2012 BS, Southeastern University, 1992 Doctoral Study Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Business Administration Walden University March 2019 Dedication First and foremost, I dedicate the successful completion of my doctoral study to my late parents, Mr. Romanus and Mrs. Cyrena Anamege for the solid foundation in life they gave me and for making me appreciate the value of education from an early age. My highest gratitude goes to the love of my life and wife, Ndidi “Deedee” Anamege. Your support, sacrifices, and patience throughout my study is truly appreciated. I will not forget to mention my wonderful children, Tony Jr., Rena, Chidera, Chisom, Naeche, and Oluchi who put up with many years of inadequate family time. Thank you all for persevering. Acknowledgments I want to pay a special tribute to my committee chair, Dr. Charles Needham for being so supportive throughout my study. Your constructive feedback, encouragement, and direction gave me the motivation to keep going when things got overwhelming. I am indebted to my second committee member, Dr. Greg Uche for the critical insight, which enabled me to refine my study. Special thanks also goes to Dr. Roger Mayer, my URR and Dr. Susan Davis, the Program Director. Thanks to my course mates, Walden University staff, and study participants for your different contributions in this doctoral journey. My acknowledgements will not be complete without mentioning my siblings, Ossy Christopher Anamege, Uche Anamege, Chukwudi Anamege, and Chinwe Anamege for your encouragement throughout this doctoral journey.