Micro-Entrepreneurs: A Creative Group Striving to Move From Rags to Riches

Bella L. Galperin*
John H. Sykes College of Business, The University of Tampa.
Periodicity:September - November'2009
DOI : https://doi.org/10.26634/jmgt.4.2.1053

Abstract

The concept of micro-credit or micro-loan, pioneered by the Grameen Bank in Bangladesh, involves credit of approximately $100 to economically disadvantaged entrepreneurs--typically creative women in developing countries. The micro-loan movement has created a global network of tens of millions of women entrepreneurs. Although micro-credit has been in existence approximately three decades, there has been little theoretical work on micro-entrepreneurs. This paper reviews the literature and poses questions regarding the micro-entrepreneurship literature. Specifically, the paper poses the following questions: Are micro-entrepreneurs being helped or hurt by micro-finance institutions? Are micro-entrepreneurs receiving a micro-credit or micro-debt? Do micro-finance efforts help micro-entrepreneurs in both developing and developed countries? What are the long-term effects of micro-credit? First, a brief history of the microfinance movement is discussed and questions are then presented. Finally, possible directions for future research are outlined.

Keywords

Micro-Entrepreneurship, Micro-finance, Culture.

How to Cite this Article?

Bella L. Galperin (2009). Micro-Entrepreneurs: A Creative Group Striving to Move from Rags to Riches. i-manager’s Journal on Management, 4(2), 12-20. https://doi.org/10.26634/jmgt.4.2.1053

References

[1]. Ahlin, C. & Jiang, N. (2008). Can micro-credit bring development? Journal of Development Economics, 86, pp.1-21.
[2]. Anonymous (2008a). Whole Planet Foundation; While Foods Market's Whole Planet Foundation raises more than one million dollars with prosperity campaign to empower nearly 35, 000 individuals through micro-entre preneurship. Food Business Week, July 28, 2008,14.
[3]. Anonymous (2008b). MicroPlace; MicroPlace announces availability of finance investments in the United States. Computers, Networks, & Communications, June 2, 703.
[4]. Anonymous. (2009). OPINION: Encouraging entre preneurship. Businessline, March 17, 2009.
[5]. Bemma, A. (2009). Microcredit in Canada. Rabble, September 5, 2009. Retrieved October 29, 2009 from http://www.rabble.ca/podcasts/shows/street-cred/ 2009/09/microcredit-canada.
[6]. BBC World Service. (2009). Does microlending really help the poor? Retrieved July 30, 2009, fromhttp://www. bbc.co.uk/worldservice/business/2009/07/090729_micr ofinance_biz_daily.shtml.
[7]. Borys, B. & Jemison, D.B. (1989). Hybrid arrangements as strategic alliances: Theoretical issues in organizational combinations. Academy of Management Review, 14, pp.234-249.
[8]. Chooki, M. (2005).Women entrepreneurs in Bangladesh need bigger loans after success of microcredit. News India-Times, February, 11, 36, 22.
[9]. Cuong, N.V. (2008). Is a governmental micro-credit program for the poor really pro-poor” Evidence from Vietnam. The Developing Economies, 46,pp.151-187.
[10]. Dean, J. (2004). Microcredit efforts in China stumble. The Wall Street Journal, June 22, A17.
[11]. Dichter, T. (1997). Appeasing the gods of sustainability: the future of international NGOs in microfinance. In D. Hume, M. Edwards (eds.), NGOs, States and Donors: Too Close for Comfort? St. Martin's Press, New York.
[12]. Eversole, R. (2003). Help, risk, and deceit: Micro-en trepreneurs talk about microfinance. Journal of International Development, 15,pp.179-188.
[13]. Grameen Bank (2009a). Grameen Bank at a Glance. Retrieved October 28,2009, from http://www.grameen-info.org/bank/GBGlance.htm.
[14]. Grameen Bank (2009b). Grameen Bank-Where We Work. Retrieved October 28, 2009 from http://www. gfusa. org/where-we-work.
[15]. Grameen Bank (2009c). Grameen Bank-What is Micro-Credit? Retrieved October 28, 2009 from http://www. grameen.com/index.php?option=com_ content.
[16]. Grameen Bank (2009d). Grameen Bank-“Bank to the poor” gives New York women a boost. April 23, 2009. Retrieved October 28, 2009 from http://www. grameen.com/index2.php?option=com_content
[17]. Grameen Bank (2009e). Grameen Bank-Small loans, significant impact. Retrieved October 28 from http://www.grameen.com/index2.php?option=com.
[18]. Grameen Foundation (2009). Measuring Progress. Retrieved October 28, 2009 from http://www. gfusa.org/what-we-do/measuring-progress
[19]. Herbst, K. (2003). Business-social ventures: Reaching for major impact. Changemakers.net. November issue. Retrieved January 22 , 2007, from http:// changemakers.net/journal/03november/index.cfm.
[20]. Johnson, S. & Rogaly, B. (1997). Microfinance and poverty reduction. Oxfam Actionaid, Oxford, U.K.
[21]. Jordan, M. (1999). Telecommunications: It takes a cell phone--- A new Nokia transforms a village in Bangladesh. Wall Street Journal, June 25, 1999, B1.
[22]. Kah, J.M.L., Olds, O.L., Kah, M.M.O. (2005). Microcredit, social capital, and politics: The case of a small rural town-Gossas, Senegal. Journal of Microfinance, 7, pp.119-149.
[23]. Karlan, D. (2009). Strength in numbers? Microfinance Insights, September/October, 10-11.
[24]. Karlan, D. & Zinman, J. (2009). Expanding microenterprise credit access: Using randomized supply decisions to estimate the impacts in Manila. Working Paper, Yale University. October.
[25]. Lewis, J.C. (2008). Microloan sharks. Stanford Social Innovation Review, Summer, pp.55-59.
[26]. Mainsah, E., Heuer, S., Kalra, A. & Zhang, Q. (2004). Grameen Bank: Taking capitalism to the poor. Chazen Web Journal of International Business. Columbia Business School. The Trustees of Columbia University in the City of New York.
[27]. Miami Times (1995). Micro credit offers good way for help poor into businesses. November, 23. 11, 1C.
[28]. Marar, P., Iyer, B.S. & Brahme, U. (2009). HSBC brings a business model of banking to the doorsteps of the poor. Global Business and Organizational Excellence, 28, 15.
[29]. Morial, M.H. (2007). Offering hope to aspiring minority entrepreneurs. Miami Times, 84, 2A.
[30]. Sharma, S. (2002). Is micro-credit a macro trap? The Hindu, 2002, 9-25. Retrieved December 2, 2006, from http://www.hinduonnet.com/businesssline/2002/09/25/st ories/2002092500810900.htm.
[31]. Sendi, L. & Anderson, A.R. (2009). Tanzanian micro enterprises and micro finance: The role and impact for poor rural women. The Journal of Entrepreneurship, 18, pp.1-19.
[32]. Steier, L. (1998). Confounding market and hierarchy in venture capital governance: The Canadian immigrant investor program. Journal of Management Studies, 35(4), pp.511-535.
[33]. The Economist (2008). Doing good by doing very nicely indeed; Microfinance. June 28, 2008, 387, pp.85- 86.
[34]. The Rockdale Foundation. (2007). Arab Microfinance. Retrieved Januar y 18 2007, from http://www. rockdalefdn.org/index.php?q=node/9.
[35]. Yunus, M. (2003). Halving poverty by 2015- We can actually make it happen. Commonwealth Lecture, Commonwealth Institute, London, March 11.
If you have access to this article please login to view the article or kindly login to purchase the article

Purchase Instant Access

Single Article

North Americas,UK,
Middle East,Europe
India Rest of world
USD EUR INR USD-ROW
Pdf 35 35 200 20
Online 35 35 200 15
Pdf & Online 35 35 400 25

Options for accessing this content:
  • If you would like institutional access to this content, please recommend the title to your librarian.
    Library Recommendation Form
  • If you already have i-manager's user account: Login above and proceed to purchase the article.
  • New Users: Please register, then proceed to purchase the article.