Emmanuel Friday, Susan Peter Teru (PhD)


Small and Medium Enterprises (SMEs) has been recognized globally as a useful tool for development. However, financing in this regard has posed a major challenge to Africa and Nigeria in particular as developing country. The need to attain self-sufficiency through development cannot be over emphasised. Therefore, this study is aimed at examining the Alternative Security Equity Market (ASEM) introduced recently by the Nigerian Stock Exchange (NSE) to serve as alternative means for equity fund raising only to listed SMEs in the nation’s Stock Exchange for business growth. This paper looks at the uniqueness of this platform under which listed SMEs can raise funds for business expansion, improved technology, adding a new product line, improving the work force to mention but few. It will also uncover the criteria under which SME can be listed at the NSE in other to be fit for raising such funds. Relevant literatures were consulted to advance the hidden importance of ASEM as a financing options for listed SMEs. Consequently, this paper sought to explain the need for SMEs to embrace this development in Nigeria considering its enormous contributions to growth and development and how unpredictable the world economy is in the 21st century and Nigeria in particular.     


ASEM financing, SMEs listing, business growth and accessing ASEM

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