Role of Microfinance in Entrepreneurship Development

Abstract

Entrepreneurship and entrepreneurship development are crucial for social and economic development. Various studies highlight and reckon this aspect of entrepreneurship development both in developed and developing economies. However, entrepreneurship development though the aim of many developing economies, the growth rate of entrepreneurs is not satisfactory. One of the prominent reasons for this is attributable to financing or lack of financing. Hence, adopting a systematic literature review method the aim of this chapter is to review critically the role of microfinance for entrepreneurship development. Further, the chapter provides solutions and recommendations for proper microfinancing to boost entrepreneurship development.