Microfinance as A Strategy for Alleviating Women's Poverty in Turkey: An Analytical Study Focused on Eskisehir
Journal Title: Journal of Corporate Governance, Insurance, and Risk Management - Year 2023, Vol 10, Issue 2
Abstract
Currently, the primary focus of the poverty discourse is around the concept of "the feminization of poverty". Similar to other countries, a significant factor contributing to women's poverty in Turkey is the limited availability of employment alternatives that enable women to generate income. Given the escalating prevalence of women's impoverishment, it is evident that the anti-poverty measures implemented by governments often fall short of being enough. Various institutions and groups are introducing alternative financial services in this particular setting. An effective approach to address women's poverty in Turkey is the implementation of the "micro credit" program. Microcredit offers modest financial resources that enable economically disadvantaged women to independently participate in income-generating endeavors. The concept of "microfinance" is crucial in recognizing the significance of capital in combating poverty. Hence, the United Nations designated 2005 as the year of "Microcredit." Microfinance is regarded as a crucial instrument in attaining the Millennium Development Goals of alleviating poverty worldwide by 2015. The purpose of this study was to assess the effects of Microcredit provided by the Turkish Grameen Microfinance Program (TGMP) on the empowerment of women in their efforts to combat poverty, specifically in relation to women's entrepreneurship and their socio-economic well-being. The study was done using surveys administered to a sample of 250 women who utilized microcredit in the Eskişehir province as part of the TGMP program. The data collected were subjected to analysis using Exploratory Factor Analysis (EFA) and the one-way ANOVA approach, which is a parametric testing procedure. The second phase of the analysis involved the utilization of the semi-structured survey methodology, which is a qualitative research method. This approach was administered to a sample of 50 women participating in the study. During the interview, the questions from the initial survey were discussed and further explored, along with the underlying reasoning behind them. The findings indicate that the effects of microcredit on women's entrepreneurship and socio-economic status following microcredit utilization differ based on factors such as women's educational attainment, the nature of the business founded, the extent of income growth, the loan amount, and the number of times the loan is utilized. Conversely, every participant expresses support for microcredit; the majority perceive them as beneficial and motivating. The prevailing opinion among them is that universal benefits should be extended to all individuals. According to their statement, the rise in income resulting from the enterprises they created and expanded using microcredit had a significant role in their family's finances (80%), enabling them to spend more comfortably (20%). Most of them stated that they possess a budget that prioritizes both savings and revenue growth.
Authors and Affiliations
Funda Râna Adaçay, Gökçe Yildiz
Keywords
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- EP ID EP732711
- DOI https://doi.org/10.56578/jcgirm100204
- Views 81
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