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Impact of Access to Finance on Entrepreneurial Development in Hong LGA of Adamawa State

Rilwan Aliyu Saad, Precious Adukwu, Usman Muhammad Hashim, Umaru Musa

Abstract

This study examined the impact of access to finance on entrepreneurial development in Hong Local Government Area of Adamawa State. The study assessed how access to finance influences entrepreneurial outcomes, particularly women empowerment, financial literacy, marketing skills, and management skills. Data were collected and analyzed using appropriate statistical techniques. The findings revealed that access to finance has a positive and significant effect on entrepreneurial development, especially in improving financial literacy and marketing skills. However, its effects on women empowerment and management skills were found to be statistically insignificant. The study concludes that access to finance is essential for entrepreneurial growth but should be supported with training, mentorship, and capacity-building programmes. It recommends improved access to affordable finance and the integration of entrepreneurial skills development initiatives to enhance business sustainability.

Keywords

Access to FinanceEntrepreneurial DevelopmentFinancial LiteracyMarketing Skills.

References

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