Impact of Cooperative Microfinance on the Performance of Women Entrepreneurship in Kwara State Nigeria

Abstract

This study assessed the effect of cooperative microfinance on the performance of women entrepreneurship in Kwara State, Nigeria. Specifically, the study identified entrepreneurial activities carried out by the women entrepreneurs, contributions of cooperative entrepreneurial activities to the women as well as identified constraints experienced by the cooperators in developing entrepreneurship among members. One hundred and seventy-six entrepreneurs show randomly selected out of three Cooperativeifteen Women engaging in Cooperative activities in Kwara State for the study using Taro Yamane's formula at 5% error tolerance and 95% level of confidence. Instrument used for data collection was primarily questionnaire while data were analyzed using descriptive (frequency and percentage) and inferential statistics (Pearson Correlation analysis). Findings indicate that Group/Membership Increment (=4.63), Group Development (= 4.91), Skill Acquisition (= 3.98), Self Actualization (= 3.69), Economic growth (= 3.64) and Community Development (= 3.55) are major benefits accruing from cooperative entrepreneurial activities to the women cooperators. However, Inadequate Finance (= 4.87), Lack of access to raw materials (= 4.76), Maladministration (= 4.65), Inadequate market information (= 4.58), Lack of good Coordination (= 4.31), Lack of adequate and proper are major challenges experienced by the cooperators in developing entrepreneurship among members. The study recommends coordinated entrepreneurship training/education programme for the cooperators by the government in order to improve their entrepreneurial capacity and government intervention in the provision of necessary financial assistance to women in order to eliminate their poverty and improve their productivities.