Role of Microfinance on Women Entrepreneurship Development at Gulmi District

Abstract

This study examines the relationship between various factors and women's entrepreneurship development in Gulmi District, Nepal. Specifically, it investigates the impact of Business Support, Saving Practices, Skill Development, and Access to Finance on women's entrepreneurship. The study utilizes correlation and regression analyses to explore these relationships. The correlation analysis reveals that Business Support, Saving Practices, Skill Development, and Access to Finance are positively correlated with women's entrepreneurship development. The results indicate significant relationships between these variables, suggesting that an increase in any of these factors can lead to enhanced women's entrepreneurship development in the region. Regression analysis further substantiates the significance of Skill Development and Access to Finance in predicting women's entrepreneurship development. These two factors emerge as strong predictors, indicating that targeted skill development programs and improved access to financial resources are critical for fostering women's entrepreneurial success in Gulmi District. While Business Support and Saving Practices also show positive correlations, they do not emerge as significant predictors in the regression analysis. This suggests that, in this specific context, the availability and effectiveness of business support services and personal savings may vary and do not exert as significant an influence on women's entrepreneurship development. Overall, the findings provide valuable insights for policymakers, microfinance institutions, and development agencies working to empower women entrepreneurs in Gulmi District. Skill development interventions and efforts to enhance women's access to financial resources should be prioritized to promote entrepreneurship among women effectively. Keywords: Women Entrepreneurship Development, Business Support, Saving Practices, Skill Development, Access to Finance.