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Microfinancing

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Microfinancing is considered a crucial strategy in attaining three objectives of millennium development goals of promoting women empowerment and gender equality. Several studies have observed an explosion of women entrepreneurs in the U.K. Empowerment is a process involving building a collective and individual asset and enhancing fairness and efficiency of institutional context governing the exploitation of these assets. Understanding the contribution of MFIs to empowerment and entrepreneurship of women in the United Kingdom is fundamental given their role to the society and economy. The aimed at assessing how the surging MFIs are boosting the empowerment of women through entrepreneurship support. The study hypothesized that micro-financing services have a significantly positive correlation correlated with U.K. women empowerment and entrepreneurship. The review has identified guiding principles and theories for the study but also established an empirical gap in the literature in this area. The current study was oriented on realism philosophy because it facilitates the use of mixed methods of research. The study collected dat from primary sources as well as secondary sources through interviews and secondary data from published materials on different dimensions of micro-finance dimensions and women entrepreneurship and empowerment. The results have shown that indeed women SMEs in the U.K benefits from several MFIs services. These include savings mobilization, microloans, micro-insurance, money transfer, and training services. The findings marry previous empirical findings and theories supporting the critical role of MFIs services in promoting the growth and performance of entrepreneurship. Therefore, policy recommendations should offer mechanisms that foster MFIs outreach by women SMEs to stimulate growth. The Study further recommends wone to seek the services of MFIs to boost their entrepreneurial activities and empowerment

 

 

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