INFLUENCE OF MICROFINANCE BANKS AND COOPERATIVE SOCIETIES ON RURAL WOMEN’S ENTREPRENEURIAL SUCCESS IN OYO STATE, NIGERIA

Abstract

Purpose: The study is an investigation into the influence of microfinance banks and cooperative societies on rural women entrepreneurial success in Oyo State, Nigeria. Methodology: The study employed descriptive survey which identified six microfinance banks and cooperative society services which were micro credits, micro savings, financial advice, cooperative housing support services, cooperative trainings and social services of cooperative society. A structured questionnaire was adopted for the study. The research questions were analyzed using descriptive statistics of mean and standard deviation. T-test and ANOVA were used to test the null hypothesis. Findings: The findings of the study revealed that financial advices from microfinance banks positively influence rural women entrepreneurial success while social services rendered by cooperative societies also show a high influence on women’s entrepreneurial success. Recommendations: Federal and state government in collaboration with relevant agencies, should ensure the proper registration of micro and medium enterprise especially for rural women in every location. Rigorous trainings, workshop and seminars should be carried out by the government to create awareness of benefits that rural women derive from microfinance banks and cooperative societies in their location