The Effect of Women Entrepreneurship on Household Income: A Case Study of Female Traders in Kogi State
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Background of the Study
Women entrepreneurship has become a crucial driver of economic development, particularly in developing countries. Female entrepreneurs contribute significantly to household income, poverty reduction, and community welfare. In Nigeria, women have increasingly become involved in various sectors, including retail, agriculture, and manufacturing, where they are able to generate income for their households and contribute to the national economy (Abiola & Olamide, 2023). In Kogi State, female traders have established businesses that serve both as a source of income and as a platform for community empowerment. However, the extent to which women entrepreneurship has directly influenced household income remains an under-explored area of research.
This study examines the impact of women entrepreneurship on household income, focusing on female traders in Kogi State. It aims to understand how the success of women-led businesses enhances their economic status and the welfare of their families.
Statement of the Problem
While women entrepreneurship has shown significant potential for improving household income in many regions, challenges such as limited access to capital, cultural barriers, and inadequate business training have hindered its full potential (Adamu & Salihu, 2024). In Kogi State, female traders face unique socio-economic challenges that affect their business sustainability and income generation. This study seeks to assess the impact of women entrepreneurship on household income, with a specific focus on female traders in Kogi State.
Objectives of the Study
- To evaluate the contribution of women entrepreneurship to household income in Kogi State.
- To identify the factors that enhance or hinder the success of female traders in Kogi State.
- To recommend strategies for supporting women entrepreneurship to improve household income.
Research Questions
- How does women entrepreneurship affect household income in Kogi State?
- What factors contribute to the success of female traders in Kogi State?
- What strategies can be implemented to enhance women entrepreneurship and improve household income?
Research Hypotheses
- H0: Women entrepreneurship does not significantly affect household income in Kogi State.
- H0: Factors such as access to capital and business training do not significantly affect the success of female traders.
- H0: Strategies to enhance women entrepreneurship do not significantly improve household income.
Scope and Limitations of the Study
This study focuses on female traders in Kogi State and examines the impact of their entrepreneurship on household income. Limitations include the challenges of obtaining accurate financial data from respondents and potential variations in business types among the participants.
Definitions of Terms
- Women Entrepreneurship: The act of women starting and managing businesses with the aim of generating income and fostering personal and social empowerment.
- Household Income: The total income earned by all members of a household, including wages, business earnings, and other sources.
- Female Traders: Women who engage in buying and selling goods or services, often in local or informal markets.
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