International Journal For Multidisciplinary Research

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Examining the Transformative Impact: Entrepreneurial Activities of Self-Help Groups and Their Influence on Socio-Economic Status

Author(s) S Swetadipta, Aditya Ranjan Samal, Swatee Prangya, Dibyajyoti Behera, Ankit Kumar Jena
Country India
Abstract This study explores the interactive relationship that results from self-help groups' (SHGs') business endeavors and the ensuing changes in their socioeconomic level. Entrepreneurship among members of self-help groups is greatly aided by these groups, which act as catalysts for financial inclusion and community empowerment. The diverse consequences of entrepreneurial initiatives on the socio-economic environment of SHGs are explored in this study through an integrated methodology that integrates quantitative and qualitative methodologies. In order to assess the direct and indirect effects of entrepreneurial endeavours on important socioeconomic indicators like income levels, employment creation, access to healthcare within SHGs, and education, statistical models are used in the quantitative portion of the study to analyze empirical data. In order to provide a more nuanced understanding of the experiences, difficulties, and achievements of SHG members involved in entrepreneurial activities, qualitative approaches such as case studies and interviews are employed in addition to this rigorous analysis. By considering elements like municipal governance, legislative frameworks, and SHG support networks, the study places the findings in a larger socioeconomic perspective. Through this, the study hopes to offer practical advice on how to improve the effectiveness of SHG-led entrepreneurial projects to decision-makers in government, non-governmental organizations, and local leaders. With practical implications for sustainable socio-economic advancement through self-help groups, the expected research outputs add to the expanding body of knowledge on community-based entrepreneurship and social development. This study aims to educate policies that empower SHGs, facilitate economic self-sufficiency, and promote resilient communities, all of which are crucial components of inclusive development plans.
Keywords Self-help groups, socio-economic status, entrepreneurial activities, employment, self-sufficiency
Field Sociology > Administration / Law / Management
Published In Volume 6, Issue 4, July-August 2024
Published On 2024-07-05
Cite This Examining the Transformative Impact: Entrepreneurial Activities of Self-Help Groups and Their Influence on Socio-Economic Status - S Swetadipta, Aditya Ranjan Samal, Swatee Prangya, Dibyajyoti Behera, Ankit Kumar Jena - IJFMR Volume 6, Issue 4, July-August 2024. DOI 10.36948/ijfmr.2024.v06i04.23912
DOI https://doi.org/10.36948/ijfmr.2024.v06i04.23912
Short DOI https://doi.org/gt3ngq
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