CASHLESS POLICY EFFECT ON PERFORMANCE OF AGRICULTURAL SMALL AND MEDIUM SCALE ENTERPRISES IN OGBOMOSO, OYO STATE, NIGERIA
Abstract
Cashless policy effect on performance of Agricultural small and medium scale enterprises is a global phenomenon that is gaining traction indifferent parts of the world, including developing countries. This study examined the effects of cashless policy on the performance of small and medium scale Agricultural enterprises in Ogbomoso ADP Zone of Oyo State Nigeria. The primary data for this study were drawn from 265 SMEs with the aid of a structured questionnaire. A multi-stage random sampling technique involving a random selection of two Local Government Areas (LGAs) from the zones, ten areas per LGA and 20 SMEs were selected from the two LGAs. The data collected were analyzed using descriptive statistics (frequency, tables and percentages) to profile the socioeconomic characteristics and to identify the challenges hindering the effectiveness of cashless policy instruments by small and medium scale agricultural enterprises. Multiple regression was used to analyze the effects of cashless policy on the performance of small and medium scale agricultural enterprises in the study area. The results showed that majority (35.85%) of the respondents age group fall between 30-39 years for the medium scale, while 68.67% of the respondents age group fall between 40-49 years for small scale enterprises, majority (92.31%) were singles. The results indicate substantial skepticism (74.71%) regarding the idea that using POS terminals reduces queues for payment.