IMPACT OF MICROFINANCE ON THE PERFORMANCE OF WOMEN ENTREPRENEURS IN MUBI NORTH, ADAMAWA STATE, NIGERIA

ABSTRACT Women entrepreneurs in Adamawa State, like many others in the federation, are still slow to emerge, and the majority of these women entrepreneurs are unlikely to survive more than five years after their establishment. Also, the level of patronage of local businesses, especially those run by women within the state, is low compared to others due to the inability of these women entrepreneurs to present their products to a standard that will attract and satisfy customers. Therefore, the patronage of women's enterprises in the state is far below its market capacity. One of the factors limiting the growth of women's entrepreneurship in Adamawa State is a lack of funds (capital), which can be attributed to poor access to financial sources. The problem of poor access to financial institutions could be attributed to the low viability of women's enterprises, such as a lack of documentation and collateral. This main objective of this study is to examined the effect of microfinance institutions' activities on the satisfaction of women entrepreneurs in Adamawa State. To elicit reliable and accurate information, a total of four hundred and two (402) women entrepreneurs were used randomly within the Yola metropolis. A causal design was adopted in the study. The study used a questionnaire as a tool for collecting data. The data collected for this study were subjected to descriptive analysis, such as frequencies and percentages that are presented in tabular form, and inferential statistics using multiple regression analysis with the help of Statistical Package for Social Sciences (SPSS) at the 0.05 (5%) level of significance. The outcome of the study revealed that there is a significant effect of credit facilities, loan repayment plans, interest rates charged on loans, skill training, and supervisory roles on satisfaction of women entrepreneurs in Adamawa State, Nigeria. The conclusions, despite the fact that the intervention of microfinance activities supports women entrepreneurs, still are not enough for them to meet customers' tastes and fulfill changing and new customer needs. Based on the findings, the study recommends that the management of the selected microfinance banks make credit facilities available and accessible to women entrepreneurs to meet customer taste and changing or new customer needs.