The Contribution of Female Entrepreneurship to the Socio-Economic Activities of Nigeria

Abstract

This study investigated the influence of female entrepreneurship on economic activities in Nigeria. Its core objectives were to examine the motivating factors behind women's entry into entrepreneurship and to determine the extent to which their business activities drive economic advancement. The theoretical basis was developed through a systematic review of existing scholarly works on the topic. A survey research design was adopted. The study population comprised 2,520 female entrepreneurs drawn from south-east Nigeria, with a sample size of 553 computed using Freund and Williams' formula. Proportional allocation using Bowler's method was applied to distribute respondents across five south-eastern states, Abia, Anambra, Ebonyi, Enugu, and Imo. Data were gathered through structured questionnaires administered to the selected respondents. Face validity was used to confirm the content validity of the instrument, while reliability was established through the test-retest approach. Analytical tools including Pearson Correlation, Kendall's Tau, Spearman Rho, and multiple regression analysis were employed in data analysis. Findings revealed that limited access to capital significantly impedes female entrepreneurship in Nigeria. The motivational drivers propelling women into business ownership demonstrated a meaningful positive connection with economic growth. Government support, while positive, did not yield statistically significant effects on wealth creation. The study concluded that a positive relationship exists between female entrepreneurship and economic advancement. It therefore recommends that government should actively facilitate access to affordable financing for women entrepreneurs by directing deposit money banks to extend interest-free loans to qualifying female-owned enterprises.