Fostering Women Entrepreneurship as Panacea to Poverty Reduction in Developing Economy

Abstract

The purpose of this study is to examine the effect of women entrepreneurship on poverty reduction in Nigeria. In so doing it addresses a gap in the literature on factors that affects women’s role in entrepreneurship. The paper draws on survey data from 190 female entrepreneurs currently engaged in their business in Ogun State within the South West of Nigeria. Data were collected and processed using inferential statistics including Chi-Square and regression to test the hypotheses. The study revealed the fact that women contribute enormously to poverty reduction, but other than that they contribute to employment creation, skills and economic development. The study also revealed risk factors that often impede women’s active and progressive role as entrepreneurs. It was recommended that government should make policies that will positively enhance the participation of women in entrepreneurial activities and also engage women in entrepreneurial education which seems to be the major key to promote entrepreneurship development in Nigeria thereby making the Nigerian business environment more conducive for women to participate. This study provides novel and unique contributions regarding research interest that is hardly been studied empirically in developing economy.