Title: Thrift And Credit Cooperative Societies As Catalysts For Entrepreneurship Development In Anambra State
Authors: Akabogu Chinyere Helen, Umebali E Emmanuel and Abbas Opeyemi Ogundipe
Volume: 8
Issue: 9
Pages: 198-207
Publication Date: 2024/09/28
Abstract:
: This study investigated the role of thrift and credit cooperative societies (TCCSs) in promoting entrepreneurial development among members in Anambra State. The research was based on Agency Theory. The study employed a survey design. The study population comprised 2,868 members of registered TCCSs in Anambra. The study's sample size was 351, determined using the Taro Yamane formula, while Bowley's proportionate allocation formula was employed for distributing the data collection instrument, a structured questionnaire that underwent validity and reliability assessments. The acquired data was examined utilising descriptive and inferential statistics. The finding revealed that there is a statistically significant positive nexus between membership to thrift and credit cooperative societies and entrepreneurial mindset (r = .914; p-value = .000 < .05). The study concluded that thrift and credit cooperative societies play significant role in entrepreneurship development among members in Anambra state. Sequel to this, the study recommended that the cooperative societies can play a role in changing the borrowing and saving mindset of members so that members can also be preoccupied by thoughts of which business to start, how to better package and market their products and or services, as this will make the members better suited to pay back loans and ask for more if need be.