The question came up, in recent days, whether state agencies and private organizations can deal conclusively with the challenge of poverty among the world’s peoples by offering access to microloans through state lending and alternative microfinancing. Indeed, some economists have strongly suggested that the vast majority of the world’s poverty-stricken population and struggling entrepreneurs can be freed from such shackles through enhanced access to microcredit.
In the early 1990s, for instance, economic experts claimed to have stumbled upon the much- sought-after remedy to the scourge of poverty. The trick would involve giving loans to people and voila! Within months, countless small businesses would realize profits, relegating the plague of poverty to the dustbin of history.
JJS Global Supports Entrepreneurs in Poverty Alleviation Endeavors
In 1990, reports by the World Bank showed that at about 2 billion people worldwide lived in extreme poverty. This was startling. Would micro-lending and micro-loans advanced by State and private entities be the solution to uplifting a massive segment of the world’s population from the mire of poverty to new heights of economic prosperity?
In time, efforts by a multiplicity of agencies to offer loan access to millions of people rapidly grew into a huge microcredit industry that was subsequently valued at a whopping $100 billion. By the mid-1990s, there were
reports that about one billion people had already benefited from these initiatives, lifting out from poverty.
Happily, in tandem with these progressive trends, we at JJS Global have, over the decades, evolved a deep passion and interest in the promotion of small business and entrepreneurial endeavors. Today we are pleased to be recognized globally as active participants in coordinated efforts to uplift the masses of humanity from the abyss of want to the pinnacle of prosperity.
JJS Global is Your Radar to Access the Best Microcredit Facilities
Thousands of people are now convinced that getting access to microloans, either through state bodies or private organizations, is the answer to the alleviation of economic challenges. Interestingly, many scholars in academia have vehemently proposed microcredit as a viable instrument to enhance individual development, facilitate entrepreneurial success, and deal conclusively with problems of credit constraints.
As noted, some experts poke holes into the value of such endeavors. In the wake of the specter of widening economic disparities between the rich and poor in most countries, economists are increasingly raising questions about the viability of such schemes. Compellingly, the economic inequalities separating the world’s richest and poorest is a puzzling phenomenon that is evident in both developing and first-world countries.
Happily, this subject happens to be our business right here, at JJS Global. We consider ourselves as your ultimate radar to economic success. We are well equipped to give you a reliable direction to the best sources of microcredit facilities. Whether you are a struggling entrepreneur harboring big dreams or a small enterprise wishing to scale up, you are spoilt for choice at JJS Global. We have your needs well figured out.
JJS Global Guides Entrepreneurs to Make the Wisest Microfinance Decisions
In recent years, several analysts have carried out research in efforts to authenticate the value of offering microcredit to entrepreneurs and fledgling businesses in tackling poverty. The analysts were interested in finding out the link between microfinancing and developments in education, health, and women empowerment. What were the results?
After analysis of data from some 90 studies, the researchers discovered that, on average, when businesses and entrepreneurs are given access to microloans, the impact was significantly small but positive. Overall, microloans were found to impact positively on venture profitability, entrepreneurial health, and venture growth. Interestingly, the non-financial impact was shown to be significantly positive. Moreover, the meta-analysis of data determined that access to microloans resulted in desirable effects on specific human development elements like women empowerment, community nutrition, health, and the advancement of children’s education.
Regardless of these precise results that gave a clean bill of health to the effects of state lending and microloans on poverty alleviation, the authors of these studies warned stakeholders to be careful when making conclusions. They pointed out that the analysis did not establish that microfinancing has a significant transformational effect on the lives of poverty-stricken peoples as widely believed.
The analysts concluded that, although the relationships were positive, the overall effects were relatively small. JJS Global is committed to helping entrepreneurs make the most sensible business decisions based on proven facts and real-life successes. Give us a call without delay at 224-535-9462 or send us an email at Info@JJSGlobal.net. We will get back promptly with ideas guaranteed to revolutionize your business.
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