Challenging Factors Affecting Access to Finance by Female Micro Entrepreneurs in Anambra State, Nigeria

ABSTRACT

The objective of this study was to determine challenging factors in accessing finance by female microentrepreneurs in Anambra state, Nigeria. This study employed both qualitative and quantitative methods in data collection. Multi-stage sampling technique was adopted in selecting the sample, and the data analyzed using logit regression model based on the binary choice that describes the probability of women micro entrepreneur’s choice between two mutually exclusive alternatives (accessing or not accessing microcredit). The study identifies fear of default, lack of collaterals, inability to get guarantors and information asymmetry as main factors challenging women’s access to finance. The study recommends, among others, the need for financial education for female micro entrepreneurs.

KEYWORDS:

• Female entrepreneurs
• finance
• small businesses
• self-employment

Disclosure statement

No potential conflict of interest was reported by the author(s).

Notes

1. The complete result is omitted here but can be presented on demand