Sustainable financial access for female entrepreneurs in the micro, small and medium enterprises sector in Nigeria
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Challenges to accessing credit by the women or female entrepreneurs
(FEs) have been observed to be demand-induced rather than supply constrained.
This paper attempts to determine the issues that constrain financial access of FEs
with the basic objective of achieving a sustainable access over the long term among
the micro and the small and medium female entrepreneurs. The study undertook
collection of data via questionnaire of FEs who operate in the micro, small and
medium enterprises (MSMEs) sector through the microfinance banks’ (MfBs) and
institutions’ (MfIs) support. The basic variables were savings, loan conditions, business
registration and the number of banks accounts operated by FEs among others.
Four models estimating the determinants of access for now and the future were
estimated with ordinary least squares regression. The results indicate that easier
loan conditions are required to assist the FEs in achieving sustainable credit access,
as it was significantly negative in two of the models while compulsory savings
deposits should be less emphasized. This indicates that there is the need to invest
more in their enterprises for growth. Credit access is enhanced also by the regular
use of the institutions for financial transactions. Finally, that targeted education is
positively significant in savings shows that the there is need for continuous
Keywords
HF Commerce, HF5601 Accounting