Microfinance and Enterprise Empowerment: A Regional Study of Entrepreneurial Advancement in Chhattisgarh

Abstract

Microfinance institutions (MFIs) are critical players in promoting entrepreneurship and enterprise development among marginalized populations. This research explores the role of microfinance in empowering entrepreneurs across Raipur, Durg, and Bilaspur districts in Chhattisgarh. The study integrates primary data from 300 entrepreneurs with statistical tools like chi-square and regression analysis. Significant variables such as loan access, financial literacy, and gender-based financial decision-making were examined. The study reveals that access to microfinance services significantly improves business income, decision-making autonomy, and employment generation. These insights contribute to strategic recommendations for regional enterprise advancement through inclusive financial services.