COOPERATIVE SOCIETIES A TOOL FOR ENTREPRENEURIAL DEVELOPMENT IN ENUGU STATE (A STUDY OF NKANU WEST LOCAL GOVERNMENT AREA OF ENUGU STATE)

The study was aimed at determining the Cooperative societies a tool for entrepreneurial development in Enugu State (A case study of Nkanu West Local Government Area, Enugu State). Four research objectives and corresponding research questions guided the study. Relevant literature related to the study was reviewed. A descriptive study design was used and the Taro Yamane formula was used to determine the same size of 150. The analysis leverages both primary and secondary data, including responses from cooperative members as well as empirical research from various sources and questions were formulated based on the objectives of the study. Data was analyzed using descriptive statistics and presented in frequency distribution tables and percentages. The findings indicate a diverse array of cooperative societies operating in Nkanu West LGA, including agricultural cooperatives, thrift and credit cooperatives, marketing cooperatives, housing cooperatives, and consumer cooperatives. The analysis reveals that cooperative societies significantly affect entrepreneurial development by providing access to credit facilities, offering training and capacity-building programs, creating market linkages, and promoting group entrepreneurship. Despite the positive impacts, cooperative societies in Nkanu West LGA face several challenges, including inadequate funding, poor management skills, lack of government support, low member participation, and lack of trust among members. To address these challenges, the findings suggest various solutions, including increasing funding and financial support, providing training in management and leadership skills, enhancing government support and policies, improving member participation, and building trust among members. Based on the findings of the study, recommendations were made: Government agencies, non-governmental organizations, and financial institutions should provide increased funding and financial support to cooperative societies to ensure that they have adequate resources to support their members. Establishing credit lines or grants specifically tailored for cooperatives could also help alleviate financial constraints. Regular training programs focusing on management, leadership, and business development skills should be organized for cooperative members and leaders. This will help address the issue of poor management and enable cooperative societies to operate more efficiently.