MICROFINANCE SERVICES AND PERFORMANCE OF MICRO BUSINESSES IN ONDO STATE, NIGERIA

Authors

  • Felix Akinlade, Babatola Department of Business Administration, Joseph Ayo Babalola University, Nigeria
  • Emmanuel Makanjuola Ogunjemilua Department of Entrepreneurship, Joseph Ayo Babalola University, Nigeria
  • Samuel Olawaseun Ajayi Department of Business Administration, Osun State University, Ilesha, Nigeria
  • Betty Adejoke Kosile Department of Business Administration, Osun State University, Ilesha, Nigeria
  • Aroyewun Adeola Department of Management Information System, Bowie University

Keywords:

Microfinance, Performance, Micro businesses, Nigeria

Abstract

This paper examined microfinance services and performance of micro businesses in Ondo State Nigeria. The study makes used of quantitative research technique by administering two hundred and forty (240) questionnaire. This study used four (4) licensed microfinance banks operating in Ondo and Akure town in Ondo State. Both descriptive such as frequency, percentages, mean and standard deviation; and inferential statistics such as Anova were used in analyses of this study with the use of SPSS for the analysis.   Findings show that the significant effect of microfinance service (F =428.834; p = 0.000) have a positive impact on the survival of these micro businesses, it also discovered that microfinance services have a positive impact on the productivity (F =13.757; p = 0.000). The study concluded that availability of micro finance services has a significant influence on the survival and productivity of micro business in Ondo State Nigeria. The study recommended that micro business should be able to access microfinance services for appropriate assistant.

Author Biographies

Felix Akinlade, Babatola , Department of Business Administration, Joseph Ayo Babalola University, Nigeria

Department of Business Administration, Joseph Ayo Babalola University, Nigeria

Emmanuel Makanjuola Ogunjemilua, Department of Entrepreneurship, Joseph Ayo Babalola University, Nigeria

Department of Entrepreneurship, Joseph Ayo Babalola University, Nigeria

Samuel Olawaseun Ajayi, Department of Business Administration, Osun State University, Ilesha, Nigeria

Department of Business Administration, Osun State University, Ilesha, Nigeria

Betty Adejoke Kosile, Department of Business Administration, Osun State University, Ilesha, Nigeria

Department of Business Administration, Osun State University, Ilesha, Nigeria

Aroyewun Adeola , Department of Management Information System, Bowie University

Department of Management Information System, Bowie University

Downloads

Published

2024-12-30

How to Cite

Babatola , F. A., Ogunjemilua, E. M. ., Ajayi, S. O. ., Kosile, B. A. ., & Adeola , A. . (2024). MICROFINANCE SERVICES AND PERFORMANCE OF MICRO BUSINESSES IN ONDO STATE, NIGERIA. Gusau Journal of Entrepreneurship Development, 2(2), 30–40. Retrieved from https://www.gujed.com.ng/index.php/gujed/article/view/50

Issue

Vol. 2 No. 2 (2024): Gusau Journal of Entrepreneurship Development

Section

Articles

License

Copyright (c) 2024 Author(s)

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.

Authors Retain Copyright