The Impact of Gender Diversity on Entrepreneurial Finance in Yobe State

Abstract

This study investigates the impact of gender and diversity on access to entrepreneurial finance in Yobe State, Nigeria, highlighting persistent disparities that hinder inclusive economic growth. A total of 384 questionnaires were administered, yielding 271 completed responses, resulting in a response rate of 70.6%. Data from 200 entrepreneurs, including equal representation of 100 women and 100 men from various backgrounds, reveal significant gender-based disparities in access to formal financial services. A stratified sampling method ensured diverse representation, and quantitative analysis techniques, including regression analysis, were employed. The reliability test indicated a Cronbach Alpha value of 0.750, confirming the instrument's reliability. The findings show that women entrepreneurs face unique challenges, including cultural barriers, lack of collateral, and limited financial literacy, alongside other intersectional factors such as education level and rural-urban divides. Promoting gender diversity in entrepreneurship could enhance economic resilience and innovation; however, financial barriers remain largely unaddressed. The study concludes with policy recommendations aimed at improving financial inclusion and supporting diverse entrepreneurship, advocating for targeted financial literacy programs and increased access to collateral-free loans for women. This research contributes to the understanding of entrepreneurial finance in Yobe State and offers insights for policymakers and development organizations striving for inclusive economic growth in northeastern Nigeria.