Factors Influencing Savings and Investment Capacity amongst Agribusiness Entrepreneurs in Agatu Local Government Area of Benue State, North-Central Nigeria
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Volume 7 - September 2018 (09)
Abstract
This study analyzed the factors influencing savings and investment capacity amongst agribusiness entrepreneurs in Agatu Local Government Area of Benue State, Nigeria. The study employed the survey research design. Using Taro Yamane formula for sample size determination, a total of 61 respondents out of 72 registered agribusiness entrepreneurs were drawn for the study. Purposive sampling technique was used to select respondents. Data obtained by means of a well-structured questionnaire were subjected to Ordinary Least Square Regression analytical technique. Results indicated that incentive of sufficient returns, established diversified venture, availability of access road and advice received have a positive and significant effect on savings and investment capacity of respondents engaged in yam production, distribution, and marketing. The results further indicated that the risk of capital loss and retirement have a negative but significant effect on savings and investment capacity of respondents. Credit provision in the form of loans as well as a good access road, and awareness education are necessary incentives for sustained engagement in yam agrifood enterprise in the study location. These are critical for the agribusiness entrepreneurs as the availability of credits, and strategic infrastructure could enhance the capacity for further savings and investment amongst respondents
Keywords
savings; investment; capacity; agribusiness; entrepreneurs
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