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Effect of Microfinance Institutions’ Services on the Performance of Micro Enterprises in Benue State, Nigeria

DOI : https://doi.org/10.36349/EASJEBM.2020.v03i05.001
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This study examined the effect of microfinance institutions services on the growth of women-owned Small and Medium scale Enterprises (SMEs) in Benue State. The study focused on the women-owned SMEs in Makurdi metropolis. The specific objectives of the study were to; examine the effect of saving services, loan services and training service of microfinance institutions on the growth of women-owned SMEs in Makurdi metropolis. The survey design was used for this study. A sample size of 214 respondents was derived from a population of 457 women entrepreneurs in Makurdi using Taro Yamene’s formula. The study employed questionnaire as the instrument of data collection. Regression analysis was used as a technique of data analysis. Study findings revealed that saving services, loan services and training services of microfinance institutions all significantly affect the growth of women-owned SMEs in Makurdi metropolis in Benue State. The study concluded that there is significant positive effect of microfinance institutions’ services on the growth of women-owned SMEs in Benue state. Women entrepreneurs should join more groups so as to benefit from larger loans for business expansion and also learn from one another and reap the overall benefit of synergy.

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Dr. Afroza Begum

Lecturer, Dept. of Pharmacology and Therapeutics, Shaheed Monsur Ali Medical College & Hospital, Uttara, Dhaka-1230, Bangladesh

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