A Study On The Role Of Micro Finance Towards Socio-Economic Development Of Entrepreneurs In Kanniyakumari District

Abstract

 Microfinance plays a significant role in promoting socio-economic development by providing financial assistance to small entrepreneurs. It enhances income generation, employment opportunities, savings habits, and overall living standards. The present study examines the role of microfinance towards socio-economic development of entrepreneurs in Kanniyakumari District. Entrepreneurs play a crucial role in generating employment opportunities, increasing income levels, and improving living standards. However, limited financial resources and lack of institutional support often restrict their growth potential. Microfinance institutions bridge this gap by providing accessible financial assistance, encouraging savings habits, and supporting productive investments. This financial support not only enhances business performance but also contributes to socio-economic development through asset creation, income stability, and improved standard of living. The study is based on primary data collected from 80 entrepreneurs using a structured interview schedule. Percentage analysis, Weighted Average Method, and Friedman Test were applied for analysis. The findings reveal that microfinance has positively influenced income growth and business expansion among entrepreneurs..