Volume 3, Issue 2, June 2018, Page: 51-61
The Impact of Microfinance Bank on Entrepreneurship Development in Nigeria
Muogbo Uju Sussan, Faculty of Management Sciences, Entrepreneurship Studies Department, Chukwuemeka Odumegwu Ojukwu University, Uli, Nigeria
Tomola Obamuyi, Department of Economics, School of Management Technology, Federal University of Technology, Akure, Nigeria
Received: Apr. 10, 2018;       Accepted: May 2, 2018;       Published: Aug. 4, 2018
DOI: 10.11648/j.jbed.20180302.13      View  482      Downloads  59
Abstract
This study examined the impact of microfinance bank on entrepreneurship development in Anambra State. To achieve the stated objective of the study, three research questions were formulated. The descriptive research design was adopted for the study. The population of the study was 734 staff of ten (10) selected entrepreneurial firms in Anambra State. It was impracticable to study the whole population therefore 259 staff was sampled using stratified sampling technique. Out of the 259 copies of the structured questionnaire administered to the respondents, 192 were completed and returned. The data obtained were analyzed using Pearson correlation for hypothesis one and ANOVA for hypotheses 2, and 3 respectively. The findings revealed that microfinance bank impact significantly on the development of entrepreneurship in Nigeria; that there are problems that militate against the effective financing of entrepreneurial businesses in Anambra State. Based on the findings, it was recommended that microfinance bank in Anambra State should be strengthened to embrace entrepreneurship devoid of imitation and vocational inclinations. Also adequate financial, physical and human resources should be provided by various stakeholders not only for potential but also for existing, start-ups and aspiring SMEs.
Keywords
Entrepreneurship Development, Micro Finance Bank, Existing Entrepreneurs, Human Resources, Firm’s Growth
To cite this article
Muogbo Uju Sussan, Tomola Obamuyi, The Impact of Microfinance Bank on Entrepreneurship Development in Nigeria, Journal of Business and Economic Development. Vol. 3, No. 2, 2018, pp. 51-61. doi: 10.11648/j.jbed.20180302.13
Copyright
Copyright © 2018 Authors retain the copyright of this article.
This article is an open access article distributed under the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/) which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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