• Contact Us
Tuesday, April 13, 2021
TheBackBuffer
  • Login
  • Home
  • Reviews
  • Security
  • Business
  • Gadgets
  • Gaming
No Result
View All Result
  • Home
  • Reviews
  • Security
  • Business
  • Gadgets
  • Gaming
No Result
View All Result
TheBackBuffer
No Result
View All Result
Home Business

Find Out How Microfinance Institutions & NGOs Help Grow Businesses!

by Veronika Zenz
in Business
166
Find Out How Microfinance Institutions & NGOs Help Grow Businesses!
0
SHARES
24
VIEWS
Share on FacebookShare on Twitter

The microfinance institutions work with women in the rural and even in the urban areas who have the skills of sewing, embroidery, pot painting and other ideas, which they use to build their business and microfinance has definitely helped them greatly. Thousands of small businesses came into existence and started earning regular income, which did not only reduce their poverty but improved their living standards, good food, and basic clothing for their survival.

There is a misconception that poor wants to remain a poor, the thing, which causes many people to shrink away from helping them. Microfinance has wronged the belief to a considerable level, they need an opportunity to use creative ideas to work their way up the poverty line. The third world countries, Pakistan, Bangladesh, India, Myanmar, Ghana, Kenya, Uganda, Tunisia, Sri Lanka and a lot more developing countries have benefitted from microfinance in alleviating poverty. Microfinance has not only provided opportunity for better living but also enabled these people to arrange for their kids’ education, better living environment, transportation and a healthy life.

There are thousands of examples available who have availed loan from NGOs and MFIs and now having business at international level. MFIs and NGOs like Bangladesh Rural Advancement Committee (BRAC), ASA International, IFC, Kashf Foundation Pakistan, Bandhan India, Grameen Bank Bangladesh, Fundación Mundial de la Mujer Bucaramanga, Brazil, Amhara Credit and Savings Institution Ethopia and a lot more are working for improvement.

The NGOs, with the help of MFIs, provides trainings so that people know about investment, management of their budget and expenses while investing in their own business. Some of the institutions are providing trainings to enhance skills, guidance on how to improve their social and economic aspects, how to save money to repay their loans on time and how to invest more in their businesses.

This means that there are multiple risks and challenges involved for entrepreneurs to provide the best quality product at reasonable prices. Previously, the aim of microfinance was to empower the poor, but now the motto of financial inclusion is to empower businesses or entrepreneurs so that they can provide better product to serve poor and other social classes. To cater the basic needs of poor, entrepreneurs or businesses have to come up with better products that are available at low cost and are fulfilling the basic needs and wants of deprived.

A new direction has been given to microfinance and empowerment of entrepreneurs and businesses. We hope for the best that this new concept of financial inclusion will help in empowering poor people to get food, education and also improve socio-economic factors of life.

ShareTweetShare

Related Posts

global market
Business

2 Considerations You Need To Know in Investing in the Global Market

April 11, 2021
Workplace
Business

4 Clever Tips to Look Stylish In Workplace

April 12, 2021
crop-top
Business

9 Different Ways to Wear a Crop Top

April 11, 2021
technology
Business

Tips For Writing Better Business Papers

March 29, 2021
sms-marketing
Business

What Are The Benefits And Features of Using Bulk SMS

January 20, 2021
Backlink Generator
Business

Online Free Backlink Maker Tool – Quality Backlink Generator You Must Try

December 14, 2020
Next Post
The Role Of Microfinance In Generating Business Opportunities

The Role Of Microfinance In Generating Business Opportunities

  • 22M Fans
  • 85 Followers
  • 450 Subscribers
  • 285 Followers

Recommended

A Brief Guide about EverWing Fairies

A Brief Guide about EverWing Fairies

April 4, 2020
4 Best Low Budget Fireproof Safes

4 Best Low Budget Fireproof Safes

April 4, 2020
technology

Tips For Writing Better Business Papers

March 29, 2021
Link Building for High PR Backlinks

Importance of Link Building for High PR Backlinks

May 8, 2020
 IOSH Managing Safely

Advantages of IOSH Managing Safely

May 17, 2020
OnePlus 5

The Convincing Reasons for You to Buy OnePlus 5

April 18, 2020
  • Contact Us
  • Privacy Policy
  • Terms and Conditions
  • Write for Us

DISCLAIMER
TheBackBuffer is not responsible for the authenticity of the product reviews. All the reviews are for informational purpose only.
© 2020 TheBackBuffer. All right go to their respective owners

No Result
View All Result
  • Homepages
    • Home – Layout 1
    • Home – Layout 2
  • Reviews

© 2020 TheBackBuffer.com - Find best guides, tips and reviews about gaming, business, online and tech.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In