Effect of Financial Inclusion Initiative on the Growth of Women Small Businesses in Akko Local Government, Gombe State, Nigeria
Keywords:
Access to Financial Services, Financial Inclusion, Growth, Small Business, Usage of Financial Service, WomenAbstract
This study investigates the effect of financial inclusion on growth of women small businesses in Akko Local Government Area, Gombe State, Nigeria. This study adopted a survey research design, the population of the study comprised of 156 registered women small business in Akko Local Government Area, Gombe State. Since the population was small, we used census sampling. The study utilized adapted questionnaire to collect data. The data was analyzed using partial least square structural equation modeling. The study found that access to financial services has positive and statistically significant effect on the growth of women small business in Akko Local Government Area, Nigeria, while, usage of financial services has positive but insignificant effect on growth of women small businesses in Akko Local Government Area at 5% level of significant. The study therefore concludes that financial inclusion influences growth of women small businesses. The study recommends that Women entrepreneurs in Akko Local Government Area, Gombe State, Nigeria should improve on the usage of financial services, this can be achieved through participation in financial literacy and management training programs to improve their understanding of financial concepts, products, and best practices.