Study on the Impact of Microfinance on Grassroot Development: Reporting Evidence from SMEs in Kwabre East District of Ashanti Region of Ghana | Chapter 10 | Insights into Economics and Management Vol. 6
The claim that development interventions targeted at people at the grassroots are poverty alleviation focused is backed by empirical studies. Microfinance has been praised as a strong method for alleviating poverty. The impact of microfinance on grassroots development cannot be overstated because poverty alleviation is rooted in grassroots development. Microfinance is defined as the long-term provision of financial and non-financial services to the poor. Microcredit, savings, microinsurance, money transfer services, and business advisory services are examples of microfinance services. The crucial role of the SME subsector in grassroots development is also relevant in this regard. This is despite the fact that the active poor are those who run micro, small, and medium businesses at the grassroots level. The impact of microfinance on grassroots development was investigated using SMEs in the Kwabre East District of Ghana's Ashanti Region as a case study. Theoretical and empirical lite...