Entrepreneurial finance as a catalyst for inclusive growth in Nigeria

Abstract

Entrepreneurial finance has become increasingly important in promoting economic development and fostering inclusive growth in developing economies such as Nigeria. Despite various government interventions and financial sector reforms, a significant proportion of Nigerians remain excluded from meaningful economic participation due to poverty, unemployment, and limited access to financial resources. This study examines entrepreneurial finance as a catalyst for inclusive growth in Nigeria. Specifically, the study investigates the effect of entrepreneurial finance on employment generation, poverty reduction, and income inclusion. The study is anchored on the Financial Intermediation Theory, which explains how financial institutions mobilize and allocate resources to productive entrepreneurial activities. A descriptive survey research design is proposed, utilizing both primary and secondary data sources. Data was collected through structured questionnaires administered to entrepreneurs and SME operators, while secondary data was obtained from relevant government agencies and financial institutions. Descriptive and inferential statistical techniques, including regression analysis, were employed to analyze the data. The study anticipates that access to entrepreneurial finance was positively influence business creation, employment opportunities, income generation, and poverty alleviation. The findings provide useful insights for policymakers, financial institutions, development agencies, and entrepreneurs on the importance of expanding access to finance as a strategy for achieving inclusive growth and sustainable economic development in Nigeria. The study concludes that entrepreneurial finance remains a critical instrument for enhancing economic participation, reducing inequality, and promoting broad-based economic prosperity.