EFFECT OF MICROFINANCE BANKS ON THE PERFORMANCE OF WOMEN ENTREPRENEURS IN ANAMBRA STATE (original) (raw)
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International Journal of Intellectual discourse (IJID), 2020
Generally, women entrepreneurs face the problem of access to finance in addition to other factors that range from cultural values and needs of the communities, family ties, gender discrimination, illiteracy, government policies and lack of business training and skill acquisitions specifically targeted at them. This hinders their entrepreneurial performance or activities. This study was carried out to examine the effect of Microfinance bank services on empowering women businesses in Sabon Gari Local Government area of Kaduna State. The study used a cross-sectional survey research design. The population of the study comprised 20,000 registered women entrepreneurs. A total of 392 women were selected using stratified sampling technique. The analysis of data was done using Partial Least Square Structural Equation Modeling (PLS-SEM) with the aid of SmartPLS3 Software. The findings from the analysis showed that microfinance savings, microfinance loans and financial intervention/ donations have significant and positive impact on empowering women businesses in Sabon Gari local government. The study concludes that microfinance saving deposit is an avenue for women entrepreneurs to save their little incomes and as such, it serves as security to accessing loan and other microfinance services as a means of empowerment. Thus, it is recommended, among other things, that microfinance institutions should deploy more staff to different business areas where women who are able to make small income from their businesses can save and give their daily contribution. In addition, the federal government through the Central Bank of Nigeria should reduce the interest rate for microfinance banks to attract more women entrepreneurs to access loans for their business as it serves as means of empowerment. Finally, government should create more microfinance banks schemes and other financial intervention packages so as to boost their services and ensure that the donations and funds get to the women entrepreneurs.
ROLE OF MICROFINANCE ON THE PERFORMANCE OF WOMEN ENTREPRENEURS IN SOUTH WESTERN NIGERIA
This study examined the role of microfinance institutions on the performance of women entrepreneurs in south western Nigeria. The specific objectives were to examine the pattern of financial products made available by microfinance institutions and rendered to women entrepreneurs, to investigate the degree of accessibility of microfinance institutions products by women entrepreneurs, to identify the problems encountered by microfinance institution operators in financing women entrepreneurs and to determine strategies to improve access to microfinance products/ services by women entrepreneurs. The research work was carried out among the licensed microfinance institutions and registered women entrepreneurs in the SouthWestern Nigeria. Purposive and simple random sampling techniques were employed to select a total number of one hundred and twenty five (125) microfinance institutions and six hundred and eight (680) women entrepreneurs as sample size for the study. Data analyses were performed with the aid of descriptive statistics. The result confirmed that only overdraft; savings account and current account, business loans, fixed deposit, financial advisory, daily contributions, fund transfer and execution of standing order were the most available financial products/services to customers but women entrepreneurs in Nigeria did not have access to majority of these products/services due to conditions attached to them. Result also revealed that delay in repayment of loans, lack of business plan, diversion of the loan granted and lack of banking culture are the most challenges confronting microfinance institutions in women entrepreneurship financing in Nigeria. The study concluded that women entrepreneurship financing can only be improved through reduction of interest rate, relaxing the conditions attached to loans, bring MFIs closer to the people, sensitize more women about MFIs, give priority to rural women, assisting women entrepreneurs in preparing business plans, and increase payback period.
Constraints to Women Entrepreneurs’ Access to Microfinance Services in Bayelsa State, Nigeria
Research Journal of Finance and Accounting, 2015
Providing access to micro-finance especially for women entrepreneurs is considered a precondition not only for poverty alleviation, but also for women's empowerment. Despite this growing importance, women entrepreneurs seem to be faced with numerous barriers in accessing microfinance services in developing countries. This paper identified the constraints faced by women entrepreneurs in accessing microfinance services in Bayelsa State, South-South Nigeria and the strategies that can be employed to improve access. A composed sample of one hundred and fifty respondents randomly selected from three local governments in Bayelsa State made up the sample while descriptive statics-mean scores and exploratory factor procedure were used to achieve the study objectives. The results of the study showed that women entrepreneurs in Bayelsa State were faced with technical, management, economic, and social constraints in accessing microfinance services. The result equally revealed Interest rate...
European Journal of Business and Management, 2014
The paper evaluated the impact of non-financial services of MFBs on the performance of women micro entrepreneurs in Kaduna state, Nigeria. The paper made use of a sample of 384 women entrepreneurs who had accessed microfinance facilities out of the 24 Microfinance Banks (MFBs) with in the period under study and who fit into the petty trader's categorization by the Kaduna state Poverty Alleviation Unit in Nigeria. With the use of cross sectional survey design, the study collected and utilized primary quantitative data by use of structured questionnaires and analyzed by the use of ordered logit regression analysis. The study found training and network meetings to be the only non-financial services of MFBs that significantly influenced the performance of the women entrepreneurs. It was therefore concluded that the non-financial services offered by the MFBs have not impacted on the performance of the women traders, except in the aspect of training and network meetings. In line with these findings, the study recommended that the MFBs should be empowered by the government to provide entrepreneurship training from time to time to their clients and organize meetings that will pull people in the same line of business to enhance performance.
INFLUENCE OF MICRO-CREDIT FINANCING ON WOMEN ENTREPRENEURS IN AWKA METROPOLIS
2021
Despite an increase in the number of microfinance institutions in Nigeria, access to finance remains one of the major barriers to women entrepreneurs in the country. This means that microfinance institutions have not penetrated the poor, the majority of whom are women. The study therefore seeks to determine the Influence of micro-credit financing on women entrepreneurs in Awka South Local Government Area, Anambra State. The specific objectives of the study are to investigate the degree of availability of microfinance institutions products by women entrepreneurs, investigate the degree of satisfaction of microfinance institutions products by women entrepreneurs, identify the problems encountered by women entrepreneurs in accessing the services of microfinance institution and determine the influence of microfinance institutions finances on women entrepreneurs' performance in Awka South Local Government Area. Four research questions and four research hypotheses were raised. This study is anchored on the Supply-Leading Hypothesis. A sample of 125 respondents was utilized for the study. Analysis was conducted using descriptive statistics such as frequency, percentage and weighted mean. Hypothesis was tested using z-test. Findings from the study revealed among others that microfinance products are available to women entrepreneurs in Awka South Local Government Area (z-calculated =5.2 > z-critical =1.95). Women entrepreneurs in Awka South Local Government Area are not satisfied with the Microfinance institution products (z-calculated =0.18 < z-critical =1.95). There are significant problems encountered by women entrepreneurs in accessing the services of microfinance institution in Awka South Local Government Area (zcalculated =4.7 > z-critical =1.95). Microfinance institutions finances have no significant influence on women entrepreneurs' performance (z-calculated =0.83 < z-critical =1.95).Based on findings of the study, the researcher recommended among others that microfinance banks should provide pre-loan training for female micro entrepreneurs who need credit facilities. Basic training will help them have a better understanding of principles, rules and proceedings of credit system. There should also be a follow-up after the loan has been granted to be sure it is ploughed back into the business instead of using it for non-profit oriented ventures. The Central Bank of Nigeria (CBN) in collaborations with microfinance institutions should always embark on campaigns to sensitize and train the rural people on the need to patronize banks. The CBN can recruit female micro entrepreneurs, train them and provide guaranteed credit to them through MFIs. The MFIs can mentor and guide the women to succeed. The training will provide them with required skills and confidence that will douse their phobia.
In Ghana, micro finance institutions have been on the rise with micro credits, micro savings among other facilities having been portrayed as a way to reach poor people in the development process, and as a new innovative strategy for alleviating poverty. The failure of many women to exploit fully the products and services offered to them by the Micro finance institutions may influence the growth of women owned enterprises. Thus, this study aimed to analyze the role of microfinance institutions on growth of women owned enterprises in La Dade-Kotopon Municipality, Accra. The study was guided by the following objectives: to assess the extent to which access to credit facilities influence the growth of women owned enterprises; to examine the influence of micro savings on growth of women owned enterprises; and to find out the influence of training and advisory services on growth of women owned enterprises. The study used a sample size of 150 women entrepreneurs who have benefited from microfinance services from Adipa Microfinance and La Community Bank offices in La, Accra by questionnaire. The data gathered from the field were analysed and presented by means of inferential statistics and descriptive statistics such as mean, standard deviation, frequency tables, and percentages using SPSS version 24 software. The findings from the study showed that there was a positive effect of access to credit facilities from microfinance institutions to growth of women business enterprises. The access to loan facilities has the highest association with the growth of women business enterprises compare to other variables. There was a positive association between trainings and investment advisory service and microfinance institutions influence growth of women enterprises. The recommendations of the study are that the financial institutions should increase the amount of loans to the women enterprises as the data in this study had shown that the loans allocated were not sufficient.
Empowering Nigerian Women Entrepreneurs through Microfinance
Journal of Economics and Business Research, 2018
This study investigated the impact ofmicrofinance interventions on the psychologicaland economic conditions of womenentrepreneurs. Specifically, it focused on 15women entrepreneurs who had benefited frommicro loans and leases from the FederalUniversity of Technology Microfinance Bank(FMB) in the Nigerian city of Minna. Athematic analysis of the interview sessions withthese women revealed that both microfinanceinterventions had a significant positive impact inempowering them psychologically andeconomically. However, it was recommendedthat for this positive impact to be amplified toinclude more women entrepreneurs, thequalifying requirements had to be made moreflexible by adopting a social collateral approachrather than the traditional physical collateralapproach currently adopted.
This study examined the effect of microfinance banks on the performance of women-owned enterprises in Benue State, Nigeria. The study focused on women entrepreneurs who are clients of selected Microfinance Banks in Makurdi Metropolis, Benue State. The study specifically examined the effect of microfinance loan services, microfinance saving services and microfinance training services on the performance of women-owned enterprises in Benue State. A survey design was adopted for the study and questionnaire was used for data collection. The population consists of 68 owners of women-owned enterprises in Makurdi metropolis, Benue State. A census sampling method was adopted and the entire population was used for this study. Simple percentages, mean and standard deviation were used for data presentation and analysis while regression analysis was used for test of hypotheses. Findings of the study revealed that microfinance loan services, microfinance saving services and microfinance training services have significant effect on the performance of women-owned enterprises in Benue State. The study concludes that microfinance banks services significantly affect the performance of women-owned enterprises in Benue State. The study recommended amongst others that microfinance banks should always give loans to female entrepreneurs in Benue State with low interest rates in order to encourage them to expand their businesses and improve their standard of living.
East African Scholars Journal of Economics, Business and Management, 2020
This study examined the effect of microfinance institutions services on the growth of women-owned Small and Medium scale Enterprises (SMEs) in Benue State. The study focused on the women-owned SMEs in Makurdi metropolis. The specific objectives of the study were to; examine the effect of saving services, loan services and training service of microfinance institutions on the growth of women-owned SMEs in Makurdi metropolis. The survey design was used for this study. A sample size of 214 respondents was derived from a population of 457 women entrepreneurs in Makurdi using Taro Yamene's formula. The study employed questionnaire as the instrument of data collection. Regression analysis was used as a technique of data analysis. Study findings revealed that saving services, loan services and training services of microfinance institutions all significantly affect the growth of women-owned SMEs in Makurdi metropolis in Benue State. The study concluded that there is significant positive effect of microfinance institutions' services on the growth of women-owned SMEs in Benue state. Women entrepreneurs should join more groups so as to benefit from larger loans for business expansion and also learn from one another and reap the overall benefit of synergy.