The impact of microcredit scheme on entrepreneurship development: The case of Malaysia
In many developed countries, social entrepreneurship play as important role in enhancing citizen entrepreneurial skills.In developing countries, Social entrepreneurship has emerged and grown into a global movement to transform social change as part of poverty eradication strategy.Building upon thi...
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| Main Authors: | , |
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| Format: | Conference or Workshop Item |
| Language: | English |
| Published: |
2014
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| Subjects: | |
| Online Access: | http://repo.uum.edu.my/13939/1/m.PDF http://repo.uum.edu.my/13939/ http://iconpoiv2014.uum.edu.my/ |
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| Summary: | In many developed countries, social entrepreneurship play as important role in enhancing citizen entrepreneurial skills.In developing countries, Social entrepreneurship has emerged and grown into a global movement to transform social change as part of poverty eradication strategy.Building upon this foundation, this paper aims to examine the impact of microcredit scheme on entrepreneurhip development.Specifically, it attempts to (1) explore the effectiveness of the existing microcredit schemes, (2) assess the viability of government policies aimed at promoting microcredit schemes; and (3) make strategic policy recommendation to improve the existing social business model.The methodology in this study involves disrtibuting questionaires survey to 1500 microcredit participants across Malaysia.A total of 1176 respondents returned the questionnaires, which was a rate of return of 78%.The findings were analysed based on descriptive statistic involving frequency,percentage and mean.The finding indicate that (1) microcredit schemes are effective in developing entrepreneurial skills particularly among women and single parents in rural areas; (2) existing government policies are sufficient in providing adequate funding opportunities for these entrepreneurs; and (3) current existing social business model needs adjustment particularly in regard to providing training to aspiring entrepreneurs.However, there are areas of concern that need to be addressed by the government such as the need for coordination among institutions that offer microcredit financing and less political interference in the decision making process. |
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