THE LEVERAGE OF FINACIAL MANAGEMENT AND LEADERSHIP ON THE PERFORMANCE OF WOMEN OWNED MICRO, SMALL, AND MEDIUM ENTERPRISES IN FCT-ABUJA, NIGERIA

Abstract

This study examines the effect of women entrepreneurial skills on the performance of Micro, Small, and Medium Enterprises (MSMEs) in the Federal Capital Territory (FCT), Abuja, Nigeria, with specific objectives to determine the effect of financial management and leadership on MSME performance. Anchored on the Gender and Entrepreneurship Theory by Sara Carter and Shirley Drew (1995), the study adopts a survey research design, drawing data from 433 women-owned businesses across the six area councils of the FCT using structured questionnaires. A total of 395 valid responses were analyzed using descriptive statistics and multiple regression through SPSS version 26. This findings revealed that both financial management and leadership have statistically significant effects on MSME performance, with p-values of 0.019 and 0.000 respectively, underscoring the importance of sound financial practices and effective leadership in enhancing business outcomes. This study concludes that improving financial literacy and leadership capacities among women entrepreneurs is essential for sustained MSME growth. This recommends the implementation of targeted financial literacy programs and leadership development initiatives to empower women with the necessary skills for managing and leading successful enterprises. The implications of this study suggest that addressing gender-specific entrepreneurial barriers and strengthening key skills can significantly boost the performance and sustainability of women-led MSMEs in Nigeria.