Empowering women entrepreneurs through Micro financing Jaffna District, Sri Lanka: Challenges and Scenarios
Micro finance serves as a vital role for women entrepreneurship development in the developing countries as well as in Sri Lanka. As a result of 30 years conflict situation, women lost their male relatives in struggle, and forced to take a responsibility of their family in order to look after their children, aged parents and their male relatives. Micro finance institutions help the poor people particularly women in effective ways in order to create income generating activities. This study focuses the challenges and Scenarios associated with the adoption of microfinance as an instrument for empowering women entrepreneurs in Jaffna District in Sri Lanka. The prime objective of this study is to identify the challenges and scenarios in empowering women entrepreneurs through micro finance in Jaffna District. In this study the rural areas of Jaffna, Nallur, Kopay Divisional Secretariat Divisions, were selected as the sample size of population of women entrepreneurs who were involving in numerous self employable activities around 76 women. Both primary and secondary data were used for gathering information and quantitative and qualitative analysis was carried out to find out the results. To find out the results and check the validity and reliability of quantitative analysis the case study method also used in this study. In the quantitative analysis the correlation and regression method was used to find out the association between the variables of entrepreneurship challenges and needs and micro finance objectives by using SPSS. Three case study method also was included in this study that the women entrepreneurs were improved their activity by the support of micro finance institutions facing many challenges. The result of this study concluded that there is no significant relationship between the objectives of micro finance institutions and the needs of the respondents. In addition to this, using micro finance facilities create more job opportunities and variety of economic activities and improve household education, family welfare and empowering women themselves. Further this study shows that even though micro finance scheme is a strategy for increasing women entrepreneurs those who express their feelings on challenges and issues on marketing activities due to transport problem and financial difficulties. It is suggested that if much awareness will be created to enlighten the women entrepreneurs on record keeping, building assets, managing risk and increasing savings, it would be identified as the best strategy for helping poor women entrepreneurs’ access on financial and non-financial services in MFIs.
Annual Report, (2004).Central Bank, Sri Lanka, Published by Central Bank of Sri Lanka. URL: http://www.lanka.net/centralbank/AnnualReport2004.html(Last accessed on 31 Jan, 2006).
Chowdhury, M.J.A., (2000), Microcredit, Enhancement of Entitlement, and Alleviation of
Poverty: an Investigation into the Grameen Bank’s Role in Bangladesh, Unpublished Ph.D. Dissertation, University of Stirling, Stirling, UK.
Chowdhury, M.J.A., (2008), Does the Participation in the Microcredit Programs Contribute to
the Development of Women Entrepreneurship at the Household Level? Experience from Bangladesh, Paper Presented at UNU-WIDER Workshop on Entrepreneurship and Economic Development, World Institute of Development Economics Research (WIDER), United Nations University, Helsinki, Finland.
Dubreuil, G.S., & Mirada, C.T., (2010). Micro credit and Women Empowerment: an empirical case–study based in Catalonia, presented to the 2010 ISTR International Conference – Istanbul, July 2010.
Haq, M., Hoque, M., and Pathan, S. (2008). Regulation of Micro Finance Institution in Asia: A Comprehensive Analysis, International Review of Business Research papers, Vol. 4, No. 4, Aug-Sept. 2008, pp 421- 450
Haileselassie, M. (2007), The Role of Micro Finance in Empowering Women in Addis Ababa, Thesis submitted to the Institute of Gender Studies of Addis Ababa University, in Partial fulfillment of the requirement for the Degree of Master of Arts in Gender Studies.
Ledgerwood, J, (2012). Microfinance Handbook: An Institutional and Financial Perspectives, The World Bank Publications.
Okafor,C., Oluwakemi, A. F. A., and Samuel, F., (2011), Empowering Women Entrepreneurs in Ogun State through Microfinance: Challenges and Prospects, JORIND (9) 1 June, 2011
Premaratne, S. P. (2009). Accessibility and Affordability of Rural Microfinance Services in Sri Lanka, Sri Lanka Economic Journal, Volume 10(2) pp 109-136.
Premaratne, S. P. (2011). Household Labour Supply for Urban Young Couple with Pre-School Children, Economic Journal of South Asia.
Punjabi,N. M. (2010). Future Trends in Microfinance Sector in India, Paper Presentation at UGC Sponsored Two Day State Level Multidisciplinary Seminar on Microfinance ‘A tool for Women Empowerment & Poverty Alleviation’, H R College of Commerce & Economics, Mumbai.
Pushpakumara, W. P. N. ( 2011). Impact of Gender on Effect Utilization of the microfinance credit facilities in Sri Lanka, ICBI, University of Kelaniya, Sri Lanka.
Sadegh Bakhtiari, (2006), Microfinance and Poverty Reduction: Some International Evidence”, International Business & Economic Research Journal, Vol5, No.12. Pp. 1-7.
Self-Employment Learning Project (1997), Micro Enterprise Assistance: What are we learning about Results? Key Findings, Aspen Institute, Washington D.C., pp 1-8.
Selvamalar, A. (2006). An Insight into the “Constraints” Faced by Women Entrepreneurs in a War-Torn Area: Case Study of the North East of Sri Lanka, Consultant Trainer, Academy of World Business Marketing and Management Development (AWBMAMD) Conference at Novotel, Paris, France.
Swider Paul, (2000), Microcredit: A Greenstar Research Brief. Editing and presentation by Michael North, available at http//www.greestar.org/microcredit/microcredit-brief.pdf.
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.