Effect of Microfinance Banks on the Performance of Selected Women-Owned Enterprises in Makurdi Metropolis, Benue State, Nigeria

This study examined the effect of microfinance banks on the performance of women-owned enterprises in Benue State, Nigeria. The study focused on women entrepreneurs who are clients of selected Microfinance Banks in Makurdi Metropolis, Benue State. The study specifically examined the effect of microfinance loan services, microfinance saving services and microfinance training services on the performance of women-owned enterprises in Benue State. A survey design was adopted for the study and questionnaire was used for data collection. The population consists of 68 owners of women-owned enterprises in Makurdi metropolis, Benue State. A census sampling method was adopted and the entire population was used for this study. Simple percentages, mean and standard deviation were used for data presentation and analysis while regression analysis was used for test of hypotheses. Findings of the study revealed that microfinance loan services, microfinance saving services and microfinance training services have significant effect on the performance of women-owned enterprises in Benue State. The study concludes that microfinance banks services significantly affect the performance of women-owned enterprises in Benue State. The study recommended amongst others that microfinance banks should always give loans to female entrepreneurs in Benue State with low interest rates in order to encourage them to expand their businesses and improve their standard of living.