SOURCE:

Faculty: Management Sciences
Department: Co-opreative Economics And Management

CONTRIBUTORS:

Taiwo, O. A.
Onugu, C. U.

ABSTRACT:

Collective entrepreneurship is an intrinsic component of cooperative society which is potent to facilitate financial inclusion. But, collective entrepreneurship and financial inclusion are two separate concepts that have not really been study together before so as to determine the extent of influence the have on each other. In order to fill identified gap. The study ascertained the nature of relationship and influence of collective entrepreneurship model on financial inclusion among members of Cooperative Investment and credit Societies Limited (CICSL) in OsunState. The broad objective of this study is to examine the influence of collective entrepreneurship on financial inclusion among members of CICSL in OsunState. Multistage sampling technique was used to obtained data from 864 members of CICSL acrossOsunState. Data obtained were analyzed with descriptive and inferential statistics models. Findings revealed that the correlation coefficient of 0.74 implied amount invested in collective risk sharing has positively strong relationship with how often the members use savings facilities of CICSL. Evidence from the result also revealed that correlation coefficient .857 with the probability (P) value of 0.024 indicated that there is strong evidence that positive relationship exist between collective ownership of enterprise and how often the cooperative members use loan facilities of the CICSL. Based on the findings, the researchers considered that the following policy implications necessary; firstly, the cooperative should endeavour to design more flexible financial services and products that will focus on access; usage and quality of savings among members. As a matter of necessity, the cooperative should try as much as possible to invest more on creativity and innovative business training of their members. Finally, as a matter of urgency, the apex regulatory body of cooperative in Nigeria should embark on re orientation and sensitization programmme on the need and benefits for all the cooperative societies across the nation to adopt collective entrepreneurship model.