MICROFINANCING AND ENTREPRENEURSHIP DEVELOPMENT IN ILARA MOKIN, ONDO STATE: A CASE STUDY APPROACH
Loading...
Date
2017-09
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
IMPACT: International Journal of Research in Business Management
Abstract
The study examined the contribution of micro financing to entrepreneurship development in Ilara-Mokin, using
the Shield Microfinance bank as a case study. Microfinance Banks (MFBs) serve as an engine, through which economic
industrial development subsists. The study made use of primary data, which was collected through a structured
questionnaire. Seventy-four (74) questionnaires were administered to Customers of Shield microfinance bank in Ilara-
MokinOndo state, via purposive sampling. Analysis of the Data gathered was carried out through the use of descriptive
Statistic like tables, frequencies, charts and percentages while inferential statistical techniques such as Analysis of Variance
(ANOVA) and one-sample ‘T’-test were used to test the formulated hypotheses with the aid of Statistical Package for
Social Sciences (SPSS) version 20.0.The findings showed that, there was a significant relationship between microfinancing
and entrepreneurship development in the community; and high borrowing charges on the loan by the microfinance bank
may hinder entrepreneurship development, and which may lead to inability to stimulate economic development and
business sustainability in the area. However, the paper recommends that regulatory authorities and policy makers should
review the microfinance regulatory framework from time to time, according to global standard in order to ensure that,
loans that are made available to the entrepreneurs are at a minimal interest rate, to enhance development
Description
Staff Publications
Keywords
Microfinancing,, Entrepreneurship Development, Micro small enterprises, Shield Microfinance bank, Ilara-making- Ondo State, Micro small enterprises,, Shield Microfinance bank,