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ANALYSIS OF ENTREPRENEURIAL PERFORMANCE OF MULTI-PURPOSE CO-OPERATIVE SOCIETIES IN ABI LOCAL GOVERNMENT AREA OF CROSS RIVER STATE, NIGERIA
Abstract: This study analyzes the entrepreneurial performance of the membership of multipurpose cooperative societies in Cross River State of Nigeria. The study examined the impact of factors such as availability of infrastructure, use of local resources, availability of training programmes, availability of credit from financial institutions, location of the business, government support, the effectiveness of management, availability of market facilities and favourable natural conditions on the performance of cooperative small scale businesses. The study employed the double sampling method where 150 cooperators were randomly sampled from 400 members of five randomly selected cooperative societies in Abi Local Government Area of Cross River State. The ordinary least square (OLS) regression approach and descriptive statistics approach were used in analyzing the data obtained for the study. The findings of the study revealed that the factors that significantly impact positively on the performance of cooperative small scale businesses include the availability of infrastructural facilities, government support, availability of market facilities, and favourable natural conditions while the provision of credit facilities by financial institutions was found to negatively impact on the performance of cooperative small scale businesses at 5% level of significance. The obtained regression model was found to be adequate and useful for the estimation of the performance of cooperative small-scale businesses with R-square value of 68% and a significant F-value of 12.78 at 5% level of significance. The study recommends the need for governments to establish training and research centres for cooperative small-scale operators to enable them to acquire requisite skills and knowledge on the provision of credit facilities by the financial institutions in Nigeria and evidence-based administration of their businesses.
Egor Hikarofem Ise, PhD, is currently the head of the Department of Co-operative Economics and Management, Federal Co-operative College, Oji River, Enugu State, Nigeria and a senior lecturer there. He is a member of the Institute of Co- operative Professionals of Nigeria (ICOPRON) and also the Association of Co- operative Educators of Canada. He is very passionate about co -operative activities.
Chilokwu Okechukwu, PhD, is in the Department of Co-operative Economics and Management, Nnamdi Azikiwe University, Awka, Nigeria.
Owan, Obodagu Tonica, PhD, is in the Department of Co-operative Economics and Management, Federal Co-operative College, Oji River, Enugu State, Nigeria.
Keywords: Entrepreneurial performance, cooperative societies, small businesses, Nigeria