Impact of microfinance banks on entrepreneurial development in Billiri local government area, Gombe state-Nigeria

Abstract

The purpose of this study was to investigate how the Billiri Local Government Area of Gombe State's microfinance bank affected the growth of entrepreneurship. Three research questions were developed in order to accomplish the stated goal of the study. The study used the descriptive research design. 734 people participated in the study, representing ten electoral wards in Billiri LGA. Since it was impractical to study the entire population, a stratified sampling of 259 employees was used. 192 completed and returned copies of the structured questionnaires that were distributed to respondents out of a total of 259 copies. For the first hypothesis, Pearson correlation was used, while for the second and third hypotheses, ANOVA was used. According to the findings, the Billiri Local Government Area's microfinance banks have a significant impact on the growth of entrepreneurship; that entrepreneurial businesses in Billiri LGA face obstacles to obtaining effective financing. Based on the findings, it was suggested that the microfinance bank in Billiri LGA of Gombe State be strengthened to encourage entrepreneurship free of imitation and vocational tendencies. Additionally, a sufficient supply of human, physical, and financial resources ought to be provided by a variety of stakeholders, not only for potential but also for existing, aspiring, and new SMEs.