THE IMPACT OF MICROFINANCE ON DEVELOPMENT OF SMALL BUSINESS VENTURE BENEFICIARIES IN MANNAR DISTRICT

Commerce

This study basically attempts to analyze the impact of microfinance on development of small business venture beneficiaries in Mannar District. The study is also meant to obtain insights regarding factors developing small business venture beneficiaries through microfinance services and which factors influences most and what extent effect on economic, social and psychological development. A total of 100 copies of questionnaires were administered to selected small business venture owners who joined with microfinance in Mannar District. This study made use of descriptive statistics such as frequencies, means and standard deviation to measure the impact of microfinance on small business venture beneficiaries. The results indicate that there is a significant positive shift of all indicators of small business venture beneficiaries’ development in Mannar District after joining in microfinance. According to findings of this research the overall small business venture beneficiaries’ development has increased by 45.57% after joining in microfinance. Briefly, microfinance seems to be unique action oriented development strategy to tap the gesture for the upliftment in economic social and psychological point of view. The findings of the study are likely to be important to microfinance institutions, govt. and NGOs in designing policy to develop small business owners economically, socially and psychologically. This study makes the valuable contribution by providing a base to the microfinance institutions for strengthening and expanding their support to small business owners.

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