Investigating the Rural and Entrepreneurial Development through Microfinance
Microfinance has been evolving to be a decisive factor in poverty reduction, rural and entrepreneurial development. This research aims to find out the impact of microfinance on rural/socio-economic development and entrepreneurial skill development. Particularly, this study attempts to explore the im...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
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Prasetiya Mulya Publishing
2022-11-01
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| Series: | International Research Journal of Business Studies |
| Subjects: | |
| Online Access: | https://irjbs.com/index.php/jurnalirjbs/article/view/2220 |
| _version_ | 1827811924404862976 |
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| author | Zahoor Ahmad Parray Shabir Ahmad Bhat Raouf Ahmad Ahmad Rather Pirzada Sajad Ahmad |
| author_facet | Zahoor Ahmad Parray Shabir Ahmad Bhat Raouf Ahmad Ahmad Rather Pirzada Sajad Ahmad |
| author_sort | Zahoor Ahmad Parray |
| collection | DOAJ |
| description | Microfinance has been evolving to be a decisive factor in poverty reduction, rural and entrepreneurial development. This research aims to find out the impact of microfinance on rural/socio-economic development and entrepreneurial skill development. Particularly, this study attempts to explore the impact of microfinance on social development, financial empowerment, education, healthcare, economic independence, and entrepreneurial development. Data was collected through questionnaires taken from the beneficiaries of the National Rural Livelihood Mission (NRLM) erstwhile Swaran Jayanti Shahri Rozgar Yojana (SJSRY) microfinance scheme in the Union Territory of Jammu and Kashmir, India. A purposive sampling method, exploratory factor analysis, and paired sample t-test were used in this study. The findings prove that microfinance facilitates social development, improved financial empowerment, and promotes decision-making relating to education and healthcare among beneficiaries. The finding also indicates that microfinance helps to increase entrepreneurial skill development among the beneficiaries. This study offers an insight how microfinance eliminates poverty and facilitates social development as well as entrepreneurial skills. These findings have essential implications for academics, policymakers, and microfinance institutions. |
| first_indexed | 2024-03-11T23:11:51Z |
| format | Article |
| id | doaj.art-c6b05ec2b7ec4d0daf7dfd52dd1b9600 |
| institution | Directory Open Access Journal |
| issn | 2089-6271 2338-4565 |
| language | English |
| last_indexed | 2024-03-11T23:11:51Z |
| publishDate | 2022-11-01 |
| publisher | Prasetiya Mulya Publishing |
| record_format | Article |
| series | International Research Journal of Business Studies |
| spelling | doaj.art-c6b05ec2b7ec4d0daf7dfd52dd1b96002023-09-21T07:58:50ZengPrasetiya Mulya PublishingInternational Research Journal of Business Studies2089-62712338-45652022-11-0115217719010.21632/irjbs.15.2.177-190291Investigating the Rural and Entrepreneurial Development through MicrofinanceZahoor Ahmad Parray0Shabir Ahmad Bhat1Raouf Ahmad Ahmad Rather2Pirzada Sajad Ahmad3Management Studies, South Campus, University of Kashmir, Anantnag, J & K, 192101, IndiaManagement Studies, University of Kashmir, Nasim Bagh, Srinagar, Jammu and Kashmir 190006, IndiaManagement Studies, South Campus, University of Kashmir, Anantnag, J & K, 192101, IndiaManagement Studies, Government Degree College, Sopore, Jammu and Kashmir 193201, IndiaMicrofinance has been evolving to be a decisive factor in poverty reduction, rural and entrepreneurial development. This research aims to find out the impact of microfinance on rural/socio-economic development and entrepreneurial skill development. Particularly, this study attempts to explore the impact of microfinance on social development, financial empowerment, education, healthcare, economic independence, and entrepreneurial development. Data was collected through questionnaires taken from the beneficiaries of the National Rural Livelihood Mission (NRLM) erstwhile Swaran Jayanti Shahri Rozgar Yojana (SJSRY) microfinance scheme in the Union Territory of Jammu and Kashmir, India. A purposive sampling method, exploratory factor analysis, and paired sample t-test were used in this study. The findings prove that microfinance facilitates social development, improved financial empowerment, and promotes decision-making relating to education and healthcare among beneficiaries. The finding also indicates that microfinance helps to increase entrepreneurial skill development among the beneficiaries. This study offers an insight how microfinance eliminates poverty and facilitates social development as well as entrepreneurial skills. These findings have essential implications for academics, policymakers, and microfinance institutions.https://irjbs.com/index.php/jurnalirjbs/article/view/2220microfinancerural developmentsocial developmentfinancial empowermenteducationhealthcareentrepreneurial development |
| spellingShingle | Zahoor Ahmad Parray Shabir Ahmad Bhat Raouf Ahmad Ahmad Rather Pirzada Sajad Ahmad Investigating the Rural and Entrepreneurial Development through Microfinance International Research Journal of Business Studies microfinance rural development social development financial empowerment education healthcare entrepreneurial development |
| title | Investigating the Rural and Entrepreneurial Development through Microfinance |
| title_full | Investigating the Rural and Entrepreneurial Development through Microfinance |
| title_fullStr | Investigating the Rural and Entrepreneurial Development through Microfinance |
| title_full_unstemmed | Investigating the Rural and Entrepreneurial Development through Microfinance |
| title_short | Investigating the Rural and Entrepreneurial Development through Microfinance |
| title_sort | investigating the rural and entrepreneurial development through microfinance |
| topic | microfinance rural development social development financial empowerment education healthcare entrepreneurial development |
| url | https://irjbs.com/index.php/jurnalirjbs/article/view/2220 |
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