A Study On Awareness Of Entrepreneurs Towards Microfinance In Kanniyakumari District

Abstract

Microfinance has emerged as an important financial mechanism for promoting entrepreneurship and economic development, particularly in developing regions. It provides small-scale financial services such as microcredit, savings, insurance, and other support facilities to individuals who lack access to formal banking institutions. By offering timely financial assistance, microfinance enables small entrepreneurs to start, sustain, and expand their business activities effectively. In district like Kanniyakumari District, microfinance institutions, self-help groups, and banks actively provide financial assistance to small and medium entrepreneurs. Despite the availability of these services, the extent of awareness among entrepreneurs varies depending on factors such as age, education, and experience. Assessing this awareness level is essential to identify gaps and suggest improvements in financial literacy initiatives. Therefore, the present study focuses on analyzing the level of awareness on microfinance among entrepreneurs in Kanniyakumari District.  The present study aims to analyze the awareness level of entrepreneurs towards microfinance in Kanniyakumari District. The study is based on both primary and secondary data. Primary data were collected from 60 entrepreneurs using a convenient sampling method. Percentage analysis and Chi-square test were used to analyze the data. The study reveals that majority of the entrepreneurs possess medium level awareness regarding microfinance services and that educational qualification significantly influences awareness level..