MEDIATING ROLE OF ENTREPRENEURSHIP DEVELOPMENT ON THE ECONOMIC GROWTH OF WOMEN IN NIGERIA

Mediating Role of Entrepreneurship

Abstract

The outbreak of Covid-19 saw the loss of jobs which necessitates the need to embrace entrepreneurship, especially among women who are more economically marginalized in the labour market in Sub-Sahara Africa. The disease outbreak warrants the need to consume healthy food which many women especially those heading their households could not afford due to inactive economic engagement.  This present study found the need to beam a searchlight on mediating role of entrepreneurship development on the economic growth of women in Nigeria. Data for the study came from a cross-section of Five hundred (500) women entrepreneurs, randomly selected to represent 71% of the total sample size. Structural equation modelling (SEM) technique was used to operationalize the study objectives and suppositions. Constructively, it was found that psychological indicators (PSYI) and knowledge of business practice indicator (KBPI) catalyzed entrepreneurship development in the area by 17.8% and 38.1% respectively. This strong affinity or association between the PSYI and KBPI indirectly resulted in over 100% growth in the economic status of women in the area. Hypothetically, PYSI and KBPI were mediated to economic growth through entrepreneurship development by 5% and 1% levels of probability which caused the rejection of the null hypotheses two and three. The study explicitly suggests that separating household and business income, and maintaining a separate business account, among others are the knowledge of business practice indicators; openness to change, and desire for self-independent among others are the psychological indicators, while the increase in the size of the inventory among others is the business performance indicator that stimulates entrepreneurship development; These led to higher formalization, and increases in capital investment as entrepreneurship development indices that stimulates economic growth. Thus, women entrepreneurs should be properly trained on the guiding principles of entrepreneurship development and practices. The study, therefore, recommends that government and non-governmental agencies should concentrate effort on training women to come near competence in their economic activities.