Microcredit and Women’s Entrepreneurship: As a Pathway to Financial Freedom and Social Change
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Abstract
Micro credit is considered as a powerful tool to eradicate poverty and improve the standard of living of people especially women. Several financial institutions including NABARD have been providing financial support by way of micro credit to those, who are normally excluded from formal financial sector. Several NGO’s and MFIs are assisting those people in order to create a group and find their own IGA’s. This study is primarily attempting to find out the financial and social benefits gained by women entrepreneurs after joining the micro credit programme and how it contributes their financial and social empowerment. The sample frame used in this study is stratified random sampling. Interview schedule was prepared to collect data directly from the respondents who were running micro enterprises or conducting Igas. It was found that micro credit programme improves their profit earning capacity and thereby it improves the decision making capacity and social benefits to the participants. Despite these advantages, they are facing several operational and marketing problems which curtail the effectiveness of the programme.