INFLUENCE OF COOPERATIVE SOCIETIES ON THE PERFORMANCE OF SMALL AND MEDIUM ENTERPRISES IN OYO STATE, NIGERIA

Abstract

Cooperative society has been an effective way for people to exert control over their economic livelihoods. It provides a unique tool for achieving one or more economic goals in an increasingly competitive global economy. This study is on influence of cooperative societies on the performance of small and medium enterprises in Oyo state, Nigeria. Its specific objective was to appraise the role of cooperative societies in enhancing the survival of small and medium-scale enterprises in Oyo State. The research design used for this study is the descriptive survey research design. The population of this study was made up of of 57,478 members of the 3,986 registered and functional cooperative societies in selected towns in Oyo State. The sample size for this study is 397 was statistically determined using Taro Yamane formula for a finite population. Analysis was done based on the 263 (66.3%) copies of the questionnaires that were filled and returned. The primary data collected using the questionnaire were analysed simple descriptive statistics, percentages, pearson correlation analysis was used to test association between the independent variables and the numeric dependent variable. Binary logistic regression model and multiple regression was used to test the effect of the independent variables on the dependent variable, Statistical Package for Social Sciences (SPSS 20) was used to test hypothesis. The results show that there is significant difference within the business of cooperative entrepreneur within the year stipulated. This mean that cooperative significantly enhanced the survival of small and medium-scale businesses in Oyo State between 2011 and 2018.