KOGI STATE

Faculty of Management Sciences

Journal of MANAGEMENT

ISSN: 3212 - 3122

Bimbo Otumba Loveth & Tomola Obamuyi

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.

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Keywords

Entrepreneurship Development, Micro Finance Bank, Existing Entrepreneurs, Human Resources, Firm's Growth

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