Examining Linkages among Microfinance Participation, Increasing Entrepreneurship,
and the Working-Class Employment in the UK: A Case Study among Women
Main academic area(s) and sub-area(s)
Finance Specialism MBA
Context and rationale:
Women make up 70 percent of the world’s poor, but only a third of the world’s entrepreneurs (GEM 2012; Opportunity International, 2011, 2012; World Bank, 2010). Individual concepts of personal income and household income decide how money is spent or saved. Social norms determining the roles men and women are expected to fulfill within a household or community influence the ability to earn money and how to utilize it (Kiviat, 2008; Nasr, 2010; Vreeken, 2008). The limited access to credit contributes to financial exclusion for women in both developing and developed countries (Hanson, 2009; Nasr, 2010). This restriction can prevent a woman from creating or expanding a business. Microfinance serves as a vehicle to providing not only credit but also business mentoring, insurance, savings, and banking services to women.
Microfinance is seen as a strategically beneficial method to enhancing the economic development of women in the United Kingdom (UK). Microfinance, the method of providing credit, savings, and insurance plans to people, particularly women, who are underserved by traditional finance operations, has increased in use over the past two decades throughout the world. It continues to be a rapidly growing option for those seeking funding through non-traditional avenues. The use of microcredit as a strategy to increase livelihood sustainability is intended to build livelihood assets, provide for households, create jobs, and strengthen communities; though unintended consequences like loan default, business failure, coercion, or loan recycling also occur (Bateman, 2010; Goldin, 2007; Smets and Bähre, 2004).
Existing microfinance studies focus on financial gains and losses to define the success or failure of a microfinance institution (MFI) transaction. Such studies categorically overlook other dimensions of well-being which impact results. A more comprehensive understanding of the effects of utilizing microcredit is achieved through using social measurements to assess the impact of livelihood sustainability. A sustainable household is able to withstand sudden shocks and changes such as financial emergencies, natural disasters, political turmoil, or personal crisis. Economic stress can be addressed by employing a number of different strategies, one of which is increasing entrepreneurial activities. In places where entering the marketplace is prohibited by lack of capital many women in both the developing world and developed world alike turn to microfinance.
Aims and objectives:
In particular, this research proposal aims to analyze the ability of microfinance in the UK to empower women through their efforts to increase entrepreneurship. Microfinance institutions are designed to serve impoverished households by providing small-scale, low-income entrepreneurs access to reliable credit (Milgram, 2001; Morduch, 1999). Microfinance focuses largely on providing small loans to groups of individuals (primarily women) who would either be ineligible for traditional bank loans (due to lack of capital or illiteracy) or subject to the high interest rates of informal lenders (Yunus, 1995).
This study will examine the potential links between participation in microfinance, entrepreneurship, working class employment, and women’s empowerment. To do this, the study will employ a case study method to assess the associations between participation in microcredit organizations, entrepreneurship, employment, and women empowerment. Specifically, I will use semi-structured interviews and a 30- item questionnaire to investigate a variety of topics, including microcredit activities among women, increasing entrepreneurship, working class employment, and empowerment. Are microfinance agencies correct in assuming that empowering women through economic activities will increase entrepreneurship? Is the excitement about participating in microfinance as a mechanism for improving the UK women’s employment in the working class and empowerment justified? Thus, the objective of this proposed study is to answer these preliminary questions.
Indicative research approach (methodology, design and methods):
The proposed research will utilize the case study methodology. This case study may provide a multidimensional look at how microfinance is being utilized by some women in the UK. This can be done by evaluating livelihood assets of UK-based women beyond financial capital and including physical, natural, social and human capital, as defined by the Sustainable Livelihoods Framework.
Small business development agencies, referrals, news stories, press releases, and microfinance directories will be used to determine appropriate women candidates who used microfinance to fund entrepreneurial activities in the UK. Before contacting the women business owner, I will read any available information about the business owner, company, or product. Then, I will be contacting about 50 women candidates and will ask them to participate with a personalized e-mail letter indicating I have some knowledge of their business and how I thought it might relate to my research project. If the business owner will respond in the affirmative, a second letter detailing the project will be sent, along with a copy of the IRB form and interviews will be scheduled.
The interview structure of this proposed project will allow the women participants to use their own vocabulary and mental maps to identify and expound upon themes important to each of them. The interviews will be initiated by asking why they decided to become an entrepreneur. After that, questions will be ask in no particular order, but the prepared flow of the interview will be followed.
The recorded interviews will then be transcribed and prepared for later data analysis. Evaluating the impact and outcomes of microfinance on livelihood sustainability for this women sample could be realized by using social metrics and guided by the livelihood asset-oriented properties of the Sustainable Livelihoods Framework. The case studies of women in the UK who utilised microfinance to fund entrepreneurial activities will be analysed using social metrics to evaluate the link among microfinance participation, employment, and performance. The findings of the study will then be provided and may use additional secondary sources to highlight the condition of women entrepreneurs in the UK and what is necessary for them to succeed besides an entrepreneurial spirit. It will also address whether engaging in microfinance activities results in increasing entrepreneurship. Finally, a conclusion will be made on the potential links between participation in microfinance, entrepreneurship, working class employment, and empowerment among UK-based women.
Potential ethical issues:
The researcher will ask the participants to sign the confidentiality agreements form. In the process of data gathering, the data will be stored in a laptop for data input for analysis. Only the researcher will have access to the laptop. As explained in the Publication Manual of the American Psychological Association (2016), the data will still be made available to the committee members and appropriate personnel at Edinburgh Napier University at any time during this process in the event questions arise regarding the accuracy of the case study reports being used for raw data. The raw data will remain locked in the safe for five years following publication of this study per APA guidelines.
Seminal (or most relevant) references [maximum of five]:
Hanson, S. (2009). Changing Places Through Women’s Entrepreneurship. Economic
Geography, 85(3), 245-260. Retrieved January 31, 2019, from www.economicgeography.org
Opportunity International. (2011, 2012). Microfinance a Working Solution to Global Poverty |
Opportunity International. Microfinance a Working Solution to Global Poverty | Opportunity
International. Retrieved January 30, 2019, from http://www.opportunity.org/
Sahar, N. (2010). Women’s Access to Finance. Directions in Development: Egyptian Women
Workers and Entrepreneurs: Maximizing Opportunities in the Economic Sphere (p. 43). Washington,
D.C.: World Bank.
Vreeken, M. (2008). Can Microfinance help women? – Marjolijn Vreeken – Imponderabilia.
Imponderabilia -The International Student Anthropology Journal. Retrieved January 30, 2019, from
http://imponderabilia.socanth.cam.ac.uk/articles/article.php?articleid=15
WAM (2012). Women Advancing Microfiance. Welcome to WAM international. Retrieved
February 1, 2019, from http://www.wam-international.org/
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