Mixed methods assess microfinance's role in enhancing business growth and financial stability among women entrepreneurs, suggesting significant impacts.
Microfinance has emerged as a significant development tool in Senegal, particularly for women entrepreneurs who often face economic and social barriers to business growth. A mixed methods approach combining quantitative data from surveys (N=250) and qualitative interviews (n=30) was employed. The survey used structured questions assessing business performance indicators, while the interviews explored in-depth insights into entrepreneurial experiences and challenges. The quantitative analysis revealed that microfinance recipients reported a significant increase of 45% in their average monthly sales compared to non-recipients (p<0.05), indicating enhanced business growth. Microfinance initiatives have played an essential role in boosting the financial stability and growth of women entrepreneurs in Dakar, with particular emphasis on credit access as a critical factor for success. Further research should explore long-term impacts and potential areas for improvement within microfinance programmes to ensure sustained economic empowerment of female entrepreneurs.
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Sall et al. (2013) studied this question.
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