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Analysis of Impact of Microfinance Services on Business Performance of Small Scale Women Entrepreneurs in Enugu State, Nigeria

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  • Ike, P. C.

Abstract

This study analyzed access to microfinance services and its impact on performance of small scale women business entrepreneurs in Enugu State, Nigeria between January and December 2012. 71 beneficiaries and 50 non beneficiaries of microfinance services operating different business enterprises were randomly selected from nine local government areas in the State. Data were collected through the use of structured questionnaire and analyzed by the use of descriptive statistical tools such as means and percentages. The Double-Difference (DD) Estimator is used to estimate changes in income from before to after benefiting from services between microfinance beneficiaries and non beneficiaries. Results show that the respondents were aged 37.4 years on the average while over 66% of them were married and about 95% had one form of formal education or the other. All the microfinance service beneficiaries accessed credit and deposit services while none received insurance services. The average income of beneficiaries and non beneficiaries before the study (baseline) were N162,480.00 and N163,572.00 respectively. The income of beneficiaries grew by about 46.67% (from N162,480.00 to N238,480.42 as against that of non beneficiaries which grew by only 11.6% from N163,572.00 to N182,546.35. There was a significant difference between the growth in incomes of the two groups at the 0.05 level. It is recommended that training as one of the core services of microfinance institutions should be vigorously implemented so as to improve the performance of the client entrepreneurs.

Suggested Citation

  • Ike, P. C., 2013. "Analysis of Impact of Microfinance Services on Business Performance of Small Scale Women Entrepreneurs in Enugu State, Nigeria," Asian Journal of Agriculture and Rural Development, Asian Economic and Social Society (AESS), vol. 3(06), pages 1-6, June.
    • Handle: RePEc:ags:ajosrd:198150
    DOI: 10.22004/ag.econ.198150
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    1. Marianne Bertrand & Esther Duflo & Sendhil Mullainathan, 2004. "How Much Should We Trust Differences-In-Differences Estimates?," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 119(1), pages 249-275.
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    1. Sarmiento, Jon Marx P. & Ellson, Adela G. & Traje, Adonis M. & Manzano, Gianne Francis Alfred E. & Comidoy, Sherleen M., 2013. "Does Access to Microfinance Improve Farm Production? Evidence from Rice Farmers in San Francisco, Agusan del Sur, Philippines," Asian Journal of Agriculture and Rural Development, Asian Economic and Social Society (AESS), vol. 3(07), pages 1-8, July.
    2. Adewumi, Matthew Olaniyi & Falola, Abraham & Odunlade, Adefemi Oluwadamilola, 2015. "Assessing Income Effect Of Rural Development Programmes: A Case Study Of Community-Based Agriculture And Rural Development Project In Kwara State (Nigeria)," Journal of Agribusiness and Rural Development, University of Life Sciences, Poznan, Poland, vol. 35(4), pages 1-9, October.
    3. Matthew Olaniyi, Adewumi & Falola, Abraham & Adefemi Oluwadamilola, Odunlade, 2015. "Assessing Income Effect Of Rural Development Programmes: A Case Study Of Community-Based Agriculture And Rural Development Project In Kwara State (Nigeria)," Journal of Agribusiness and Rural Development, University of Life Sciences, Poznan, Poland, vol. 2015(38).
    4. Anande-kur, Fanen & Faajir, Avanenge, 2020. "Micro-Finance And Performance Of Micro, Small And Medium Enterprises In Makurdi Metropolis," International Journal of Contemporary Accounting Issues-IJCAI (formerly International Journal of Accounting & Finance IJAF), The Institute of Chartered Accountants of Nigeria (ICAN), vol. 9(2), pages 1-17, September.

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