The existence of credit contributes much to reduce poverty. Therefore positive sign is expected to reduce poverty. 10. Access to extension service (EXTENS): extension service provides households with knowledge, skills and new technologies (Davis, et .al 2009). It sharpens the knowhow of household regarding implementation of farm activities and family healthy as well as other activities.
They gained popularity because they managed to show that poor people can be reliable bank customers. Microfinance institutions are majorly non-profit making institutions with the aim of providing credit loans to the poor people in the society with the aim of crossing them over the poverty line and also improving their economic status. (Mason and Yamaguchi) Microfinance has been a powerful and effective tool in the reduction of poverty by bringing the poor into the income stream. This is because it creates an opportunity for the poor to be able to indulge in self-employment rather than waiting for employment opportunities to be created. The invention of Grameen Bank and other programs has led to the spread of more and more micro-credit and microfinance services to the poor in the society.
Abstract: Entrepreneurship stands as a vehicle to improve the quality of life for individuals, families and communities and to sustain a healthy economy and environment. Rural entrepreneurship has emerged as a dynamic concept. If entrepreneurship really encouraged in rural area it would, of course, be instrumental in changing the face of rural areas by solving the problems of unemployment, poverty, economic disparity, poor utilization of rural capacity, low level of standard of living. The majority of the rural population depends directly and indirectly on agriculture based activities like livestock processing, agro processing, fishery, animal husbandry etc. Diversification into non-agricultural uses of available resources such as catering
With the goal of low interest and easy application, micro-loaning appears to the most efficient, alternative way of alleviating poverty. To help gain a better understanding of micro-loaning; we will explore the micro-finance history and its organization, poverty and the target subject of this organization, and the benefits and backfires of providing these services. The origin of microfinance can be observed all the way back to the late 19th century. Friedrich Wilhelm Raiffeisen first conceived the idea of cooperative self-help after observing the suffering of farmers in the gr... ... middle of paper ... ...hey can provide the borrowers with a constant flow of income that can help them pay off the loan back and become eligible for any kind of banking services. If Micro-finance institutions construct themselves successfully enough to offer more services to the low income client market, and have the financial comfort to offer the appropriate interest per client income, it may be one of the strongest forces in alleviating poverty.
There is great optimism as the growth of microfinance has shown that the poor are creditworthy, while the formal banking institutions serve only investment-worthy clients who are non-poor. However, to eliminate poverty, microfinance must be carried out in a sustainable way and cheaply, reaching a massive scale of the poor, with continuous improvement in the quality of service delivery. My study will therefore focus on the impact of microfinance in alleviating poverty in the rural Gambia. 2. THE RESEARCH PROBLEMS There has been a lot of emphasis on the importance of access to financial services by the poor and marginalized as a means of reducing poverty in many forms.
It helps to the empowerment of underprivileged, poor and women of the society with the mission of creation them self-reliant and well learned to take superior financial decisions. Financial inclusion takes into the involvement of vulnerable groups such as weaker sections of the general public and low income groups, based on the extent of their access to financial services such as savings and payment account, credit insurance, pensions etc. financial inclusion implement to easy accessibility of financial services which allows utmost investment in business, education, insurance against risks, save for retirement etc. by the rural people and firms. (source: www.wikipedia.org/wikifiancialinclusion.html) Definition: “Financial Inclusion is the process of providing
Most of the income comes from commercial farming however the potential for most of the employment lies within the rural or subsistent farming. The agricultural sector of South Africa has an important role in creating a strong economy and creating one that is more stable. With the right handling of the sector it can provide the basis for this economic growth and help reduce poverty and the growing divide between rich and poor. Income for the lower class would be increased and greater employment opportunities created in the agricultural sector.
They have managed to have a balancing profit and impact bottom line, but they concentrate mainly on achieving an impact on the communities they are working with. They have proven to have a huge development impact (Schicks, 2007). This type of bank works to achieve such a successful impact by the structure that it has adopted. Grameen Bank is not the typical bank one would find in their town. This bank system acts as a family to the communities.
These could be banks or other cooperatives, and as the community is working as a whole, it is easier to obtain finance. It is suggested that the money be used to set up projects to aid the social welfare of the community and provide education to further enhance the communities’ skill base. (National Economic and Social Development Board, 2000) The final stage involves collaboration with other communities. One way of doing this is through farmers’ markets. Farmers markets are an ideal way of distributing fresh produce to a wider community Furthermore, they are growing in popularity, and at the time of writing this paper, there are five regular markets taking place in the central Bangkok area every month.
Impact of marketing on Agricultural Products Introduction Agriculture is the backbone of Pakistan’s economy because it fulfills the basic necessities of life also it provides the employment opportunities and livelihood to 62% of population. It contributes 21% to total GDP and 80% products that are being exported are agro based. (Agri Punjab). Pakistan has plenty of natural resources so people of rural areas put their whole efforts in exploring these and producing the agricultural products from those. So if it will be managed effectively than it becomes the biggest source of reducing the poverty in Pakistan.