Rural Women Entrepreneurship Development in Ovia North East, Edo State, Nigeria: The Case for Microcredit

Abstract

The dream of the United Nation’s Millennium development Programme to which 189 countries including Nigeria pledged to eradicate extreme poverty by 2015 can only be achieved if microcredit scheme is given its rightly place in funding small scale entrepreneurs.  This paper focused on the impact of micro-credit on small scale entrepreneurs especially women in sustainable grassroot development. Data collected from a sample of 225 respondents analysed statistically suggests that availability and access to credit increases business profit and hence standard of living of the rural poor. It recommended therefore, that all the three tiers of government should make funds available to women entrepreneurs via the microfinance banks so they can act as catalyst for economic development.

Keywords:  Entrepreneur, Microfinance and Economic Development