Influence of micro business on the economic empowerment of women cooperative societies in anambra state, Nigeria

Abstract

The study examined micro business and economic empowerment of members of women cooperative societies in Anambra State, Nigeria. The study was motivated by the need to determine the influence of micro business on economic empowerment among members of women cooperative societies in Anambra State. The specific objectives are to: identify the socio economic characteristics of the respondents, ascertain the effect of non-registration status of micro business on economic empowerment of members of women cooperative societies in Anambra State, examine the influence of operating capital on economic empowerment of members of women cooperative societies in Anambra State and determine the effect of level of profit on economic empowerment of members of women cooperative societies in Anambra State. The area of study is Anambra State where 391 members of women cooperatives were selected from the population of 725 registered women cooperatives in the study area. The instrument used for data collection was the questionnaire. The study employed regression technique, frequency,and percentage in analyzing the data obtained. The study found out that there is a strong relationship between micro business and economic empowerment at value of (0.970) it also found that business registration status affects the increasing income of members business, it also revealed that operating capital and level of profit on economic empowerment ensures economic contribution, self-confidence, and accountability. The study concluded that micro business has a significant influence on economic empowerment among members of women cooperative societies in Anambra state, Nigeria. The study recommends that women operating micro-businesses need to register their businesses. This is because when registered they stand the chance of accessing funds for expansion from government and donor agencies. Members of women cooperative societies should be financially disciplined and keep proper record which is paramount for operating micro-businesses. Level of profit is found to have a positive and significant effect on the economic empowerment of members of women cooperative societies. Women business owners are urged to be accountable in their businesses by preparing trading account which will enable them track and grow their level of profit among others.