SUSTAINING NIGERIA'S ECONOMIC GROWTH AND DEVELOPMENT THROUGH FEMALE ENTREPRENEURSHIP IN SOUTH-SOUTH NIGERIA.

Agholor; Ikpomosa Solomon; Ovbiagele; Abraham Otaigbe

Volume : IX, Issue : II, February - 2019

SUSTAINING NIGERIA'S ECONOMIC GROWTH AND DEVELOPMENT THROUGH FEMALE ENTREPRENEURSHIP IN SOUTH-SOUTH NIGERIA.

Agholor, Ikpomosa Solomon, Ovbiagele, Abraham Otaigbe

Abstract :

Female entrepreneurship is the process where female organize factors of production, undertake risks, and provide employment to others while Economic development is a process of societal advancement, where improvement in the well–being of people are generated through strong partnership between all sectors, corporate bodies and other groups in the society. Female entrepreneurs face gender biases stemming from socio–economic factors or specific biases in laws such as inheritance laws. Female entrepreneurs have a problems of access to finance and credit facilities. Argument abound as to the impact of female entrepreneurship on economic development ;while some believe that female entrepreneurship impacts positively on the economy, others hold a contrary view. The study specific objective were to identify the factors that motivate female entrepreneurs in starting their own businesses and the nature of relationship with economic development, Determine the challenges faced by female entrepreneurs in managing their businesses, in achieving food security, Assess the contributions female entrepreneurs make in employment generation, poverty reduction and wealth creation in South –South Nigeria. The study adopted the descriptive survey design on a population of 2530 out of which a sample size of 553 were drawn using Freund and Williams sample size determination method. The data collect was analyzed using Pearson, Kendall, spearman and simple regression model. The findings indicated that: The factors that motivate female entrepreneurs in starting their own businesses had a positive and significant relationship with Economic development (α = 0.234, p < 0.05, The challenges faced by female entrepreneurs in managing their businesses, had a positive and non–significant relationship with food security (α = 0.134, p > 0.05), the contributions of female entrepreneurs had a positive and significant impact on employment generation (α = 0.56, t–value = 3.007, R2 = 0.084, Adj R2= 0.075, p < 0.05, F–statistic = 9.04, D.W = 1.804) The study concluded among other things that better knowledge about the economic importance of female’s entrepreneurship and their particular strengths, weaknesses and opportunities, is important to success of females’ entrepreneurship. The study recommends among others that government should increase the participation of female in the labour force by ensuring the availability of affordable child care and equal treatment in the work place