Empowering the Underprivileged Women: Exploring Entrepreneurial Opportunities with Microfinance

Manpreet Arora ()
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Manpreet Arora: Central University of Himachal Pradesh

A chapter in Women Entrepreneurship Policy, 2024, pp 265-285 from Springer

Abstract: Abstract Exhilarating the have-nots by exploring entrepreneurial possibilities through microfinance has emerged as a transformative approach in uplifting marginalized communities around the world. Microfinance, with its core principle of providing small loans and financial services to the economically disadvantaged, has enabled aspiring entrepreneurs especially women, who generally are deprived from traditional banking systems due to social issues and exclusion, to take charge of their destinies. By empowering individuals and women with limited resources, microfinance unlocks a ladder towards untapped potential, driving creativity, and innovation at the grassroots level. This inclusive model where the poorer and deprived sections of the society are encouraged to the establishment of small businesses, fosters local economies, and cultivates a sense of self-reliance and pride. As micro-entrepreneurs thrive and generate sustainable income, a ripple effect is created, enriching entire communities and elevating them towards prosperity and a brighter future. The success of microfinance lies in its ability to foster entrepreneurial spirit and provide the much-needed impetus for the have-nots to break free from the cycle of poverty and chart a path towards economic independence.

Keywords: Women; Women entrepreneurship; Entrepreneur; Rural; Microfinance; Microcredit; Empowerment; Women empowerment; Entrepreneurship; Content analysis; Have-nots; Vulnerable (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-97-3607-2_14

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DOI: 10.1007/978-981-97-3607-2_14

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