ASSESSMENT OF THE IMPACT OF MICROFINANCE ON ENTERPRENEURSHIP DEVELOPMENT IN KATSINA STATE

Abstract

This study assessed the impact of microfinance on entrepreneurship development in Katsina State, two research objectives, research question and hypotheses were formulated to guide the study. Descriptive survey was adopted in the study where questionnaire was used to obtain the needed data that assist the researchers to address the research problem, objectives, questions and hypothesis. A sample size of 261 people was chosen and determined using stratified and simple random sampling method. In The data analysis, Multiple Regression Analysis (MRA), and techniques in parametric statics (PPMC) were adopted to show impact, causal/relationship between microfinance and entrepreneurship Development. The result obtain from the finding revealed that there is significant impact of microfinance on entrepreneurship development in Katsina State and there is a significant relationship between level of access to credit facilities and business expansion in Katsina State. Based on the findings, it was recommended that In order to positively encourage the spirit of entrepreneurship among youth, government should strengthened microfinance to address the problem of financing and capital accumulation through increase in it is funding of financial institutions that provide lending to entrepreneurs; Government at all levels (federal, state, and local) should also introduce variety of intervention programs with a mandate of assisting entrepreneurs to overcome problem of capital and required finance for enterprise expansion; The monetary authority (CBN) in collaboration with some development partners should organize training for staff of micro finance institutions. And the institution on their own part should continue to train and retain their human capital, segment and build up in depth knowledge of the market, develop appropriate products and services for small enterprises.