Entrepreneurship Development Access to Credit and Business Performance Among Youth-Owned Enterprises (A Study of Phone Accessories Business in Umuahia Metropolis, Abia State Nigeria)

Abstract

This study investigates the relationship between entrepreneurship development, access to credit, and business performance among youth-owned phone accessories enterprises in Umuahia metropolis, Abia State, Nigeria. Using a descriptive survey design, data were collected through questionnaires and interviews from purposively selected youth entrepreneurs. Regression analysis revealed that entrepreneurship training (β = 0.312, p < 0.05) and business planning skills (β = 0.285, p < 0.05) significantly influenced enterprise development, while innovation capacity contributed positively at a lower magnitude. Access to credit was found to enhance enterprise growth (β = 0.276, p < 0.05), but collateral requirements and high interest rates posed significant barriers. Informal sources such as family and friends provided modest support but were insufficient for long-term sustainability. Business performance indicators showed strong positive relationships with entrepreneurial financing and development, with profitability (β = 0.348, p < 0.05) emerging as the most significant outcome, followed by growth and sustainability. The findings highlight the importance of financial inclusion and skill-building interventions in strengthening youth-owned enterprises. The study recommends reducing lending barriers, expanding entrepreneurial training, and promoting alternative financing models to enhance competitiveness and resilience of youth enterprises in Nigeria.