Effect of Microfinance Banks Services on the Performance of Micro-Enterprises in Benue State, Nigeria
Author (s)
Adudu, Chiangi Adudu, Torough, Samuel & Asenge, Emmanuel Lubem
Abstract
The study investigates the effect of microfinance banks services on the performance of micro-enterprises in Benue State, Nigeria. The study adopts a survey design and a sample of 350 respondents was determined from population 311,502 micro enterprises in Benue State. The questionnaire was subjected to validity and reliability using factor analysis and Cronboch Alpha respectively. Multiple regression was used data analysis and test of formulated hypotheses with the aid of the Statistical Package for Social Sciences (SPSS Version 21). Findings revealed that there is no significant effect of microfinance loan on performance of micro-enterprises in Benue State, Nigeria (p-value 0.631 > α 0.05). The study showed a positive significant effect of microfinance technical training on performance of micro-enterprises performance in Benue state, Nigeria (p-value 0.000 < α 0.05). Finally, the study revealed that microfinance advisory services have a positive significant effect on performance of microenterprises in Benue State, Nigeria (p-value 0.019 < α 0.05). The study concludes that microfinance banks services contribute significantly to enhance the performance of micro enterprises by narrowing the resource gap for micro-enterprises. The study recommends amongst others that management of microfinance banks in Nigeria should increase the duration of their clients’ asset loans over a longer period of time. The study will enlighten micro-enterprises about services rendered by microfinance banks and how to utilize them to improve business performance.
Keywords: Microfinance, Microenterprises, Microfinance loan services, Microfinance technical training services, Microfinance advisory services, Performance.
| Title: | Effect of Microfinance Banks Services on the Performance of Micro-Enterprises in Benue State, Nigeria |
|---|---|
| Author: |
Adudu, Chiangi Adudu, Torough, Samuel & Asenge, Emmanuel Lubem |
| Journal Name: | International Journal of Science and Business |
| Website: | ijsab.com |
| ISSN: | ISSN 2520-4750 (Online), ISSN 2521-3040 (Print) |
| DOI: | https://doi.org/10.5281/zenodo.3769069 |
| Media: | Online |
| Volume: | 4 |
| Issue: | 4 |
| Acceptance Date: | 25/04/2020 |
| Date of Publication: | 27/04/2020 |
| PDF URL: | https://ijsab.com/wp-content/uploads/518.pdf |
| Free download: | Available |
| Page: | 113-1124 |
| First Page: | 113 |
| Last Page: | 124 |
| Paper Type: | Research Paper |
| Current Status: | Published |
Cite This Article:
Adudu, Chiangi Adudu, Torough, Samuel & Asenge, Emmanuel Lubem (2020). Effect of Microfinance Banks Services on the Performance of Micro-Enterprises in Benue State, Nigeria. International Journal of Science and Business, 4(4), 113-124. doi: https://doi.org/10.5281/zenodo.3769069
Retrieved from https://ijsab.com/wp-content/uploads/518.pdf
About Author (s)
Adudu, Chiangi Adudu is a postgraduate student in the Department of Business Administration, Federal University of Agriculture, Makurdi-Nigeria.
Torough, Samuel is a postgraduate student in the Department of Business Administration, Federal University of Agriculture, Makurdi-Nigeria.
Asenge, Emmauel Lubem, is a postgraduate student in the Department of Business Management, Benue State University, Makurdi-Nigeria.
DOI: https://doi.org/10.5281/zenodo.3769069