An evaluation of the influence of market women associations on economic growth in Akure North Local Government Area, Ondo State
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Background of the Study:
Market women associations have long served as important catalysts for economic growth, particularly in regions like Akure North Local Government Area. These associations mobilize female entrepreneurs and traders, enabling them to collectively access financial resources, training, and market opportunities (Oluwaseun, 2023). By fostering solidarity and cooperation, market women associations enhance income generation and create a platform for socio-economic empowerment (Adesina, 2024). Their activities contribute significantly to local economies by improving business practices and facilitating information exchange among members (Folake, 2023). However, challenges such as limited access to capital, inadequate market infrastructure, and competition from formal businesses continue to impede their full potential (Akinyemi, 2023). This study explores the influence of these associations on local economic growth, offering insights into strategies that could strengthen their impact and foster sustainable development (Olu, 2024).
Statement of the Problem:
Despite their critical role in promoting economic activities, market women associations in Akure North face significant challenges including limited funding and infrastructural deficits. These issues hinder their ability to maximize economic contributions and sustain long-term growth (Babatunde, 2023).
Objectives of the Study:
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To evaluate the contribution of market women associations to economic growth.
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To identify challenges affecting their operations.
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To propose strategies to enhance their effectiveness.
Research Questions:
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How do market women associations influence economic growth in Akure North?
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What challenges do they face in their operations?
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What measures can improve their economic impact?
Research Hypotheses:
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Market women associations significantly contribute to local economic growth.
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Limited funding negatively affects their operations.
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Improved market infrastructure enhances their economic impact.
Significance of the Study:
This study is significant as it highlights the economic contributions of market women associations and provides recommendations to bolster their activities, thereby fostering inclusive economic growth in the region (Adebola, 2024).
Scope and Limitations of the Study:
Limited to the topic only.
Definitions of Terms:
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Market Women Associations: Organized groups of women traders working together to improve their economic prospects.
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Economic Growth: An increase in the economic output and prosperity of a community.
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Entrepreneurship: The process of starting and managing a business venture.
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