Golden Ratio of Community Services and Dedication
Vol. 3 No. 1 (2023): November - April

Unlocking Local Prosperity: Empowering Communities through Small Business Financing

MY, Nurfadila (Unknown)



Article Info

Publish Date
30 Apr 2024

Abstract

This study aims to investigate the role of small business financing in promoting community empowerment and local prosperity. Employing a qualitative research methodology, the study conducts a comprehensive literature review to explore the economic, social, and environmental dimensions of small business financing. The research design involves systematic data collection from diverse sources, including academic journals, books, reports, and online databases, followed by thematic analysis to identify key insights and patterns within the literature. The findings underscore the pivotal role of small businesses as drivers of economic growth, social cohesion, and environmental sustainability within local communities. Despite the significant contributions of small businesses, various systemic challenges hinder access to finance, particularly for marginalized groups. Innovative financing mechanisms, such as microfinance initiatives and impact investing, emerge as promising strategies to address the financing gap and promote inclusive growth. The study concludes by emphasizing the importance of holistic approaches to SME development and community empowerment, urging policymakers and practitioners to prioritize financial inclusion, sustainable business practices, and interdisciplinary collaboration.

Copyrights © 2023






Journal Info

Abbrev

grcsd

Publisher

Subject

Humanities Social Sciences

Description

The aim of the Golden Ratio of Community Services and Dedication (GRCSD) is to disseminate the conceptual thoughts or ideas and research results that have been achieved in the area of community services. Golden Ratio of Community Services and Dedication (GRCSD), particularly focuses on the main ...