Entrepreneurship management for the poorest of the poor

• Main Authors: Fakhrul Anwar, Zainol, Noor Fadzlina, Mohd Fadhil, Wan Norhayate, Wan Daud
• Format: Conference or Workshop Item
• Language: English
• Published: 2014
• Subjects: HF5601 Accounting; HG Finance
• Online Access: http://eprints.unisza.edu.my/284/1/FH03-FESP-15-03022.pdf; http://eprints.unisza.edu.my/284/

The Grameen Banking System (GBS) is a micro-credit financing system used to overcome poverty amongst the poorest of the poor (POP) in rural Bangladesh. It was introduced by Professor Muhammad Yunus, an Economics Professor at Chittagong University in Bangladesh, in 1976. The GBS model provides credit to women without a collateral and guarantee based on a group lending system. In Malaysia, Pertubuhan Kebajikan TECH Menceria Malaysia replicated the Grameen Model and applied it to disadvantaged women belonging to the poorest of the poor (POP) in terms of economic classification, that is, below the poverty line of RM 1000.00. The POPs selected by TECH were single mothers, abused women, abandoned women, disabled women and women with incapacitated husbands who had children to support and an income of less than RM 1000.00 per month. These women were given micro credit funds not more than RM 2000.00 and coached to initiate small entrepreneurial ventures such as tailoring, baking, food catering, poultry, handicraft, car wash and similar ventures. Whilst TECH could raise funds for the micro credit scheme and coaching, TECH did not have the capacity to initiate these women under an entrepreneurship development programme. Thus, the objective of this project is to overcome poverty amongst this selected group of women by transferring the knowledge of the entrepreneurship development and management. In spite of providing the training, trainers from lecturers of UniSZA were assigned as their business coaches through the 12 months to monitor their business in progress. The impacts of this project towards selected women were most of them more confident, communication skills improved and understand to read and prepare their business plan.