Related Research Articles
Microcredit is the extension of very small loans (microloans) to impoverished borrowers who typically lack collateral, steady employment, or a verifiable credit history. It is designed to support entrepreneurship and alleviate poverty. Many recipients are illiterate, and therefore unable to complete paperwork required to get conventional loans. As of 2009 an estimated 74 million people held microloans that totaled US$38 billion. Grameen Bank reports that repayment success rates are between 95 and 98 percent.
Microfinance is a category of financial services targeting individuals and small businesses who lack access to conventional banking and related services. Microfinance includes microcredit, the provision of small loans to poor clients; savings and checking accounts; microinsurance; and payment systems, among other services. Microfinance services are designed to reach excluded customers, usually poorer population segments, possibly socially marginalized, or geographically more isolated, and to help them become self-sufficient. ID Ghana is an example of a microfinance institution.
Small businesses are types of corporations, partnerships, or sole proprietorships which have a small number of employees and/or less annual revenue than a regular-sized business or corporation. Businesses are defined as "small" in terms of being able to apply for government support and qualify for preferential tax policy. The qualifications vary depending on the country and industry. Small businesses range from fifteen employees under the Australian Fair Work Act 2009, fifty employees according to the definition used by the European Union, and fewer than five hundred employees to qualify for many U.S. Small Business Administration programs. While small businesses can also be classified according to other methods, such as annual revenues, shipments, sales, assets, annual gross, net revenue, net profits, the number of employees is one of the most widely used measures.
Small and medium-sized enterprises (SMEs) or small and medium-sized businesses (SMBs) are businesses whose personnel and revenue numbers fall below certain limits. The abbreviation "SME" is used by international organizations such as the World Bank, the European Union, the United Nations, and the World Trade Organization (WTO).
Grameen Bank is a microfinance organisation and community development bank founded in Bangladesh. It makes small loans to the impoverished without requiring collateral.
Accion is an international nonprofit. Founded as a community development initiative serving the poor in Venezuela, Accion is known as a pioneer in the fields of microfinance and fintech impact investing.
A social enterprise is an organization that applies commercial strategies to maximize improvements in financial, social and environmental well-being. This may include maximizing social impact alongside profits for co-owners.
A micro-enterprise is generally defined as a small business employing nine people or fewer, and having a balance sheet or turnover less than a certain amount. The terms microenterprise and microbusiness have the same meaning, though traditionally when referring to a small business financed by microcredit the term microenterprise is often used. Similarly, when referring to a small, usually legal business that is not financed by microcredit, the term microbusiness is often used. Internationally, most microenterprises are family businesses employing one or two persons. Most microenterprise owners are primarily interested in earning a living to support themselves and their families. They only grow the business when something in their lives changes and they need to generate a larger income. According to information found on the Census.gov website, microenterprises make up 95% of the 28 million US companies tracked by the census.
Micro financing in Tanzania started in 1995 with SACCOS and NGOs. It has since then contributed to the increasing success of international micro financing. Microfinance stills remains a relatively new in Tanzania since it has not penetrated yet. Since 1995, microfinance has been linked to poverty alleviation programs and women. The government made efforts to ensure commercial banks have continued to provide financial support to the small entrepreneurial business. However a microfinance National Policy was implemented in 2002 to encourage and support microfinances in the country. Since the implementation, micro financing was officially launched and recognized as a poverty alleviation tool. Due to its increase exposure and use in the nation, commercial banks have developed interests in to offer microfinance. There are various microfinance banks that functions as supporting institutions in the country that usually provide microfinance services. These may include the CRDB, National Microfinance Bank, and AKIBA. However there are also other few banks that are concerned with micro financing in Tanzania such as the PRIDE and SEDA, Tanzania Postal Bank and FINCA. Community and small banks have also expressed interest in the same including the NGOs and other non-profit organizations.
Acción Emprendedora (AE) is a non-profit organization founded in 2002 in Chile. The organization claims to seek the eradication of poverty by training and assisting poor small business owners and helping microentrepreneurs grow their businesses through education and mediating loan negotiations. Based in Santiago de Chile, it is present in seven major cities throughout Chile.
Entrepreneurship is the creation or extraction of economic value in ways that generally entail beyond the minimal amount of risk, and potentially involving values besides simply economic ones.
The Accion U.S. Network is an American nonprofit microfinance organization headquartered in New York, NY. The network is part of Accion International, a U.S.-based nonprofit organization operating globally.
Women's World Banking is a nonprofit organization that provides strategic support, technical assistance and information to a global network of 55 independent microfinance institutions (MFIs) and banks that offer credit and other financial services to low-income entrepreneurs in the developing world, with a particular focus on women.
Small and medium enterprises in Mexico, generally called PyMEs, are an important segment of the Mexican economy. They are classified in two types of small and medium enterprises: family businesses and non-family businesses.
Female entrepreneurs are women who organize and manage an enterprise, especially a business. Female entrepreneurship has steadily increased in the United States during the 20th and 21st century, with female owned businesses increasing at a rate of 5% since 1997. This increase gave rise to wealthy self-made females such as Coco Chanel, Diane Hendricks, Meg Whitman, and Oprah Winfrey.
Nell Merlino is the founding Chairwoman of the PBB Trust. As the Trust Chair, Nell is leading a movement to champion personal data independence and set new standards of control, value and privacy for emerging human data rights. She has also mobilized more than 20 million people to champion women's empowerment. Nell created Take Our Daughters to Work Day, founded Count Me In for Women's Economic Independence and launched Make Mine a Million $ Business. She is the author of Stepping Out of Line: Lessons for Women Who Want it Their Way in Life, in Love, and at Work, a book for women to speak up in their work and life to get ahead.
The Nepalese Ministry of Minister of Industry, Commerce and Supplies is a governmental body of Nepal to monitor and manage industries of the country.
Julia Pimsleur is an author, scaling coach, speaker and entrepreneur. She is the founder and CEO of Million Dollar Women, an organization dedicated to helping one million women entrepreneurs reach $1MM in annual revenue, author of the best-selling book Million Dollar Women: The Essential Guide for Female Entrepreneurs Who Want to Go Big,Go Big Now, and the founder of Million Dollar Women Network. She is also the founder and CEO of the Little Pim language education system, as well as a former documentary filmmaker. She is the daughter of Paul Pimsleur, who was a scholar of applied linguistics.
Beatriz Helena Ramos is an artist, entrepreneur, film director, producer and illustrator. She is the founder of Dancing Diablo Studio in New York and the inventor of Dada.nyc, a visual conversation platform where people speak to each other through drawings.
Social entrepreneurship in South Asia involves business activities that have a social benefit, often for people at the bottom of the pyramid. It is an emerging area of entrepreneurship that is supported by both the public sector and the private sector.
References
- ↑ "Count Me In official site". Archived from the original on 2007-12-30. Retrieved 2008-01-04.
- ↑ "A fund for female ventures". Black Enterprise. 30 (12): 52. July 2000.
- ↑ Nell, Merlino. "What holds women business owners back from creating million dollar plus companies". Empower Lounge.
- ↑ "Make Mine a $Million," Enterprising Women, 7(4). Archived 2007-03-22 at the Wayback Machine