microfinance and women entrepreneurs in pakistan

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EMERGING SCHOLARS SECTION Microfinance and women entrepreneurs in Pakistan Samia Mahmood Institute of Administrative Sciences, University of the Punjab, Lahore, Pakistan and Birmingham City University, Birmingham, UK Abstract Purpose – The purpose of this paper is to outline findings of an initial exploratory study, undertaken as part of a larger ongoing research project, seeking to understand the influence and impact of microfinance on women’s entrepreneurship and empowerment within developing countries such as Pakistan. Design/methodology/approach – The research conducted in this study used 37 semi-structured questionnaires from women borrowers financed by two microfinance institutions of Pakistan. Findings – The findings show that microfinance institution is providing credit to women for starting their business. However, 62 percent of the women borrowers established their own business from microfinance loan and other 38 percent did not use microfinance for the said purpose. The lack of training by microfinance institutions is also considered to be a factor in very less number of women starting new business from microfinance loan. Research limitations/implications – A small sample is used from the Punjab province of Pakistan, therefore care is required when generalizing the results. Originality/value – This paper will facilitate discussion in exploring the area of microfinance in a developing country and form a base for conducting research in future on the issue of microfinance and women’s entrepreneurship. Keywords Pakistan, Women, Microfinance, Entrepreneurialism, Access to finance, Women entrepreneurs, Economic empowerment, Well-being of family, Developing countries Paper type Research paper 1. Introduction Poverty alleviation, social inclusion, and reducing inequalities in society are challenges facing the world today (Kanak and Iiguni, 2007). Within developing economies such as Pakistan, financial institutions fail to provide access to credit, savings, and insurance, in particular to the poorer sections of the society (Pakistan Microfinance Network, 2009). Whilst financing is a challenge for every entrepreneur, women owned businesses encounter more constraints than male owned businesses in accessing finance generally (Constantinidis et al., 2006). Women entrepreneurs in developing countries, however, face a number of additional barriers to enterprise such as lack of access to capital, land and business premises because asset ownership is male dominated (Roomi, 2005) and they normally require small loans for business start-up which banks are reluctant The current issue and full text archive of this journal is available at www.emeraldinsight.com/1756-6266.htm The author would like to gratefully acknowledge the advice and support provided by Dr Javed Ghulam Hussain, Professor of Entrepreneurial Finance, Birmingham City Business School. Women entrepreneurs in Pakistan 265 International Journal of Gender and Entrepreneurship Vol. 3 No. 3, 2011 pp. 265-274 q Emerald Group Publishing Limited 1756-6266 DOI 10.1108/17566261111169340

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Page 1: Microfinance and women entrepreneurs in Pakistan

EMERGING SCHOLARS SECTION

Microfinance and womenentrepreneurs in Pakistan

Samia MahmoodInstitute of Administrative Sciences, University of the Punjab, Lahore,

Pakistan andBirmingham City University, Birmingham, UK

Abstract

Purpose – The purpose of this paper is to outline findings of an initial exploratory study, undertakenas part of a larger ongoing research project, seeking to understand the influence and impact ofmicrofinance on women’s entrepreneurship and empowerment within developing countries such asPakistan.

Design/methodology/approach – The research conducted in this study used 37 semi-structuredquestionnaires from women borrowers financed by two microfinance institutions of Pakistan.

Findings – The findings show that microfinance institution is providing credit to women for startingtheir business. However, 62 percent of the women borrowers established their own business frommicrofinance loan and other 38 percent did not use microfinance for the said purpose. The lack oftraining by microfinance institutions is also considered to be a factor in very less number of womenstarting new business from microfinance loan.

Research limitations/implications – A small sample is used from the Punjab province ofPakistan, therefore care is required when generalizing the results.

Originality/value – This paper will facilitate discussion in exploring the area of microfinance in adeveloping country and form a base for conducting research in future on the issue of microfinance andwomen’s entrepreneurship.

Keywords Pakistan, Women, Microfinance, Entrepreneurialism, Access to finance,Women entrepreneurs, Economic empowerment, Well-being of family, Developing countries

Paper type Research paper

1. IntroductionPoverty alleviation, social inclusion, and reducing inequalities in society are challengesfacing the world today (Kanak and Iiguni, 2007). Within developing economies such asPakistan, financial institutions fail to provide access to credit, savings, and insurance, inparticular to the poorer sections of the society (Pakistan Microfinance Network, 2009).Whilst financing is a challenge for every entrepreneur, women owned businessesencounter more constraints than male owned businesses in accessing finance generally(Constantinidis et al., 2006). Women entrepreneurs in developing countries, however,face a number of additional barriers to enterprise such as lack of access to capital, landand business premises because asset ownership is male dominated (Roomi, 2005) andthey normally require small loans for business start-up which banks are reluctant

The current issue and full text archive of this journal is available at

www.emeraldinsight.com/1756-6266.htm

The author would like to gratefully acknowledge the advice and support provided byDr Javed Ghulam Hussain, Professor of Entrepreneurial Finance, Birmingham City BusinessSchool.

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Pakistan

265

International Journal of Gender andEntrepreneurshipVol. 3 No. 3, 2011

pp. 265-274q Emerald Group Publishing Limited

1756-6266DOI 10.1108/17566261111169340

Page 2: Microfinance and women entrepreneurs in Pakistan

to consider as they are not cost effective ( Jalbert, 2000). Additionally, they do not havefinancial histories of borrowing and repaying loans or indeed, have experience ofrunning businesses. Microfinance may seem like an obvious solution. Indeed,microfinance institutions (MFIs) are encouraging females in developing economies topursue enterprise to overcome economic and social barriers by providing them withcollateral free loans and simplified application procedures (Morrison et al., 2007). Kevaneand Wydick (2001) highlight that increased credit provision for women entrepreneursfrom NGOs is underpinned by a desire to promote women’s empowerment, partly basedon research demonstrating that providing credit to women has a great impact on thebroader household and family welfare and enhances social participation (Mawa, 2008;Pitt and Khandker, 1998; Zapalska et al., 2007; Khandker et al., 2008; Schuler andHashemi, 1994; Pitt et al., 2006; Kim et al., 2007; Sanyang and Huang, 2008). In contrast,Goetz and Gupta (1996) argue that microfinance has done little to change the status ofwomen within households, as men still have the control over the household income andcan therefore misuse the microfinance obtained.

2. Conceptual and contextual issuesMicrofinance programmes have gained respectability and acceptance as a tool toalleviate poverty (Sengupta and Aubuchon, 2008). Indeed, microfinance supports theachievement of first and third millennium development goals (MDG), to eradicateextreme poverty and to reduce gender inequality and promote women’s empowermentthrough enterprise[1]. Microfinance is more than merely lending to the poor; in additionto microcredit provision, it is said to include financial services such as savings andinsurance schemes (Sengupta and Aubuchon, 2008) and to incorporate capacity building(Islam, 2009). In providing access to credit to low income groups, microfinance schemesemploy group lending techniques to reduce the default risk. This shifts theresponsibility of screening, monitoring, and enforcing the loan contract onto thegroup, who have access to relevant information thus reducing the risks for the lender(Bhatt and Tang, 2001; Stiglitz, 1990; Sengupta and Aubuchon, 2008); thus socialinterdependency leads to lower default rates. However, group lending has somelimitations, such as high monitoring costs and harsh social and financial punishments incase of default (Rallen and Ghazanfar, 2006).

In Pakistan, where almost 22.59 percent of the population is living below the povertyline (united nations development program (UNDP, 2010)), microfinance is in its infancy.The focus placed by the microfinance sector on women is mainly attributable to genderinequality. According to Human Development Report (2010) Pakistan is ranked 125thout of 169 countries on the human development index (HDI). HDI measures the averageachievement of the country taking in account three basic aspects of human development:health, knowledge, and income (Human Development Report, 2010). Pakistan’sgender-related development index is 93 percent as the percentage of HDI which helps usto understand inequalities in achievements between men and women. A similar index isthe gender empowerment measure, which takes into account gender gaps in economicand political spheres for which Pakistan is ranked 99th out of 109 countries (UNDP,2010; Human Development Report, 2010). All these indicators place Pakistan among theless-developed countries having greater gender disparities.

The women in Pakistan have enjoyed less wealth, poorer health, and are lesseducated than men; 55.8 percent of Pakistani women were living below the poverty line

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compared with 41 percent of men (United Nations Human Poverty Index, 1995 cited inGoheer (1999, p. 2)). A study by Panhwar (2004) on Pakistani women found that womenhave low status, low self-images and low self-esteem, lack confidence in their ownabilities, especially rural women. Moreover, working women in Pakistan are doubleburdened, due to the household as well as business/job-related activities (Panhwar,2004). Furthermore, the social and cultural constraints restrict women in taking part informal work outside their home as women labour force participation is 21.8 percent ascompared to men which is 86.7 percent in 2008 (Human Development Report, 2010).Such constraints lead to fewer ratios of women entrepreneurs than men as womenemployers are 0.1 percent as compared to men employers of 1.6 percent in 2009-2010(Pakistan Federal Bureau of Statistics, 2009-2010). Women in developing countries likePakistan not only face cultural and social constraints but are also affected due to tribal,feudal, and capitalist social formation (Roomi, 2005, p. 2). According to Roomi (2005):

[. . .] no matter which class or region they belong to, women’s situation vis-a-vis men, is one ofsystemic subordination, determined by the forces of patriarchy, greatly influencing theiroccupational role in all parts of the country by two factors, one being the cultural norm of“Pardah[2]”(veil), and the other being the notion of “Izzat[3]” (honor).

Moreover, rural women are more socially bounded than urban women. The lack ofeducation, health and financial resources disadvantages, felt more keenly by ruralwomen, restricts their growth potential (Afza and Rashid, 2008).

A study by Roomi (2005), identified various obstacles faced by women entrepreneursin Pakistan in the startup and development phases of their business. Women face amobility barrier, which includes travel for business purposes, not only as a result of poorinfrastructure but also due to the social and cultural norms that have discouraged themfrom going outside and moving freely from childhood. This limited mobility oftenrestricts their choice of business, with most women engaging in businesses that do notrequire mobility and which also, typically, only require contact with other women,for example, beauty salons. The women trying to develop their business face barrierslike non acceptance of women’s authority by male employees and find it difficult toestablish credibility with customers and suppliers due to their gender (Roomi, 2005,pp. 8-9). These attitudes are not only reflected in the women’s difficulty in accessingfinance but this additional barrier compounds the constraints they face.

To date, the majority of the studies on microfinance have been conducted to exploreits impact on poverty, women’s empowerment, household relations and familywell-being. The empirical evidence on the impact of microfinance on poverty alleviationis inconclusive. Positive findings are reported by Pitt and Khandker (1998), Morris andBarnes (2005), Chowdhury et al. (2005), Khandker (2005) and Chemin (2008) but thestudies of Coleman (1999, 2006) and Duong and Izumida (2002) report no impact ofmicrofinance on poverty alleviation. Critics argue that although microfinance has apositive impact on economic development, it has not reached the poorest of the poor(Helms, 2006). Moreover, Hermes and Lensink (2007, p. 464) state that there are few solidempirical research studies in poverty reduction or enterprise effect of microcredit. Theimpact of microfinance on women entrepreneurs and their micro enterprise remainsunder-explored; it is however, the focus of the larger ongoing research project fromwhich these initial findings are reported. A study by Chowdhury (2008) found thatmicrofinance programmes are not promoting women’s entrepreneurship at householdlevel in Bangladesh, but it helps to increase the capital of already established businesses

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of the households. Similarly, a study by Gobbi et al. (2005) in Pakistan on microfinance,microenterprise and women’s economic empowerment concluded that the microfinanceloan helped improve the profitability of microenterprises run by women entrepreneurs.

The results of the studies of Lucy et al. (2008, p. 37) and Kevane and Wydick (2001,p. 19) showed that microcredit programmes are transforming the role of womenentrepreneurs by generating income and employment opportunities, providing trainingto increase skills and literacy levels and increasing awareness about their rights.The microfinance programmes are important in developing country like Pakistan togain such benefits for women and the society. The World Bank report in its beginningcommented that in Pakistan microfinance sector had seen considerable governmentattention due to poverty alleviating potential through MFIs. Surprisingly, in Pakistanmore than half of the clients of MFIs are male, unlike other countries of the region wherethere is a predominance of female clients (The World Bank, 2007). This suggests there isneed for research on the issue of microfinance to women in general and womenentrepreneurs in particular.

3. Research methodologyIn Pakistan microfinance banks, MFIs, NGOs, and rural support programmes providemicrofinance. For this study two microfinance providers, who between them at the endof the third quarter of 2010, provided 32 percent of microfinance loans to borrowers inthe Punjab region (Pakistan Microfinance Network, 2010).

For the purpose of this study, 45 semi-structured questionnaires were distributed toborrowers from these two microfinance providers in Pakistan. Data were collectedfrom both rural (Clarkabad and Zafarkey) and urban areas (Gujranwala and Vehari) inthe province of Punjab, Pakistan. Out of the total 45 questionnaires, 38 were completedand returned. One questionnaire was disqualified due to incomplete answers andfinally 37 questionnaires were used for this research. The quantitative data analysiswas carried out by using SPSS package. This study collated data on loan size, loancharacteristics and the utilization of microfinance loan by the women borrowers.The questionnaire contained closed questions and was divided into four parts to collectinformation on: demographic profile; microfinance loan and its usage; the impact ofmicrofinance on women’s entrepreneurship and their enterprise, and the impact uponwomen’s economic empowerment and the well-being of their families.

4. FindingsThe results of the study are divided into three parts. The first and second part providesdemographic profile of the women borrowers and the details of microfinance loan, thethird part is related to women’s entrepreneurship and empowerment throughmicrofinance.

I. Demographic profileThe 37 women borrowers of MFIs were typically (49 percent) 30-39 years of age, with24 percent aged 40-49 years. About 92 percent of the women were married with themajority (65 percent) reporting that their husband was the family head. Only 13 percentof the women were the head of their families with 11 percent reporting theirfather-in-law or father as head of the family and the remaining 11 percent indicatedthat another male family member was head of the family.

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Almost half (49 percent) of the women borrowers were uneducated, although theirhusbands had received some education (58 percent). This would support Afza andRashid’s (2008) finding, “They are not only deprived of financial resources but also lackaccess to basic needs such as education, health, clean drinking water and propersanitation”.

II. Microfinance loanTable I provides an overview of microfinance loan program. The microfinance wasmostly provided, not surprisingly, to low-income families. About 65 percent of thewomen clients had a household annual income of between Rs. 60,000 and Rs. 120,000[4].The initial loan advanced ranged between Rs. 5,001 and Rs. 15,000 depending uponability to repay, however loans of up to Rs. 20,000 could be made. The annual rate ofinterest charged on loans obtained by 73 percent of the women was 20 percent.In Pakistan, the average real wage rate per month for female worker is Rs. 3,419 in 2008(Ministry of Labour and Manpower, 2009). This means that monthly a female worker inPakistan can earn average of £24[5] (approx.) per month or £291 (approx.) per annum.However, the data of this study show that 51 percent of the women borrowers are able toget initial microfinance loan range between Rs. 5,000 and Rs. 10,000. It means thatmostly women receive microcredit loan of £35-£70, paid in 12 equal instalments.

About 43 percent of the women had been members of microfinance program for threeto four years, 30 percent were members for six months to two years and 19 percent were

Annual income of women clients and theirfamily Less than Rs. 60,000 (11%)

Rs. 60,001-Rs. 120,000 (65%)Rs. 120,001-Rs. 180,000 (19%)Rs. 180,001-Rs. 240,000 (5%)

Initial loan amount Up to Rs. 5,000 (3%)Rs. 5,001-Rs. 10,000 (51%)Rs. 10,001-Rs. 15,000 (35%)Rs. 15,001-Rs. 20,000 (3%)

Rate of interest 20 percent (73%)25 percent (22%)

Years of membership of MFI Less than 6 months (8%)6 months to 2 years (30%)3-4 years (43%)5 years or more (19%)

Responsibility to pay back loan Women (30%)Husband (22%)Women and her husband (43%)Family head other than husband (5%)

Purpose of disbursement of loan by MFI Business purpose (97%)Utilization of loan by women clients Start new business by women borrower (24%)

Invest in already established business of women(38%)Invest in husband/family head business (14%)Invest in children, relatives or friends business (5%)Pay back any other loan (3%)Any other use/consumption purpose (16%)

Table I.Microfinance program

overview

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members of microfinance program for five or more years. Interestingly however,81 percent of the women borrowers were not provided with business training despite thefact that 62 percent had been members for more than three years; this calls into questionthe “holistic” nature of such programmes and their “capacity building” activities.

About 57 percent of the women borrowers with their husband jointly made decisionto apply for microfinance loan for the first time. Only 27 percent of the women borrowerswere able to make independent decision to apply for loan for the first time and 13 percentof the husbands made decision to apply the loan on women’s name. Similarly, in thedecision on how to use the microfinance loan, 51 percent of the women coordinated withtheir husbands, 19 percent of their husbands decided alone how the microfinance loantaken in their wives name would be used. Only 27 percent of the women borrowers madean independent decision about how they should use the loan. These percentages showthat before obtaining microfinance loan most women were not empowered to makefinancial decisions without the consent of their husbands. Moreover, 43 percent of thewomen borrowers reported that they and their husbands both were responsible to paythe loan taken in the women’s names. About 22 percent of women reported that only theirhusbands were responsible for repayment of loan and 30 percent of the women werethemselves responsible for repayment of loan.

III. Women entrepreneurship and empowermentAbout 97 percent of the loans provided to the women were for the purposes of their ownbusiness, many of the women also used the loan for purposes other than their ownbusiness. Most of the women used the loans for their own new or existing businesses(24 percent were used by women to start their new business and 38 percent of womeninvested the loans in their established businesses). However, 14 percent of the loans werehanded over by the women borrowers to their husband or family head for businesspurposes and 5 percent to their children or relatives business. About 3 percent of the loanwere used to payback another loan and 16 percent were used for consumption purpose asshown in Table I.

Whilst approximately 62 percent of the women clients used the loans for their ownbusiness, almost 19 percent used them for another business and almost 19 percent foranother purpose such as consumption or loan repayment. It was mainly rural womenwho used the loans for consumption purposes, with urban women (65 percent) morelikely to use the loan in their business than rural women (35 percent). Of those womenwho did invest the money in their own business, the women were mostly engaged inraising animals (buffalos and goats) for milk, breeding livestock, tailoring, andembroidery.

Loans that were not invested in any activity that could generate income could beregarded as an inefficient use of loan money. This practice creates problems for womenclients who must then try to repay the loans whilst having no or insufficient income.Helms (2006) indicated that:

Microcredit is not appropriate for the destitute and hungry who have no reliable income ormeans of repayment. In many cases, small grants, infrastructure improvements, employmentand training programs, and other nonfinancial services may be more appropriate for destitutepeople.

The women were asked to assess any difference obtaining the microfinance loan madeto their skills, confidence, and business outcomes, using a five-point Likert scale.

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The women reported increased profit and sales within their enterprises, with such anincrease being more likely in urban rather than rural areas. The respondents were notconvinced however that their chances of obtaining commercial loans had improved.

Most of the women borrowers agreed that within their households they were nowmore empowered to make decisions relating to spending money on daily householdexpenses, their health and family health expenses, their children’s educational expensesand so on. However, women strongly disagreed (54 percent) that they were empoweredto spend money on their own education after participation in microfinance programme.About 49 percent of them agreed that there was increased empowerment to makedecisions relating to the sale or purchase of assets and livestock and 60 percent said theywere more empowered in family planning decisions after obtaining the microfinanceloan, even when it was not used for business purposes.

5. ConclusionWomen accessing microfinance in the Punjab region of Pakistan are typically 30-39-yearold, married and without a formal education. Microfinance facilitated less than half ofthe women borrowers to start new business ventures with most of the urban womenusing the money to develop their own already established business. About 62 percent ofthe women used the microfinance for business purposes with the majority of themengaged in raising animals for milk. Despite the majority of women being members ofthe MFI for more than three years, they were not provided with any business-relatedtraining. Almost one in five women, and mainly rural women, are accessing this moneyfor survival purposes, that is, to facilitate consumption or to repay existing loans.

This paper is the first phase in investigating microfinance for women entrepreneursof Pakistan and a part of larger ongoing research project. The future larger researchwill seek to understand the influence and impact of microfinance on women’sentrepreneurship and empowerment within developing countries like Pakistan.

Notes

1. The MDG are to be achieved by 2015 that respond to the world’s main developmentchallenges, adopted by 189 nations-and signed by 147 heads of state and governments duringthe United Nation Millennium Summit in September 2000, www.undp.org/mdg/basics.shtml

2. Purdah as defined by Papanek (1973) “meaning curtain, is the word most commonly used forthe system of secluding women and enforcing high standards of female modesty in much ofSouth Asia”. It includes limitation for women to go outside or interacting with males andseparation of places for male and female activities. It also includes covering the face and bodyby veil/hijab (covering the head) or jilbab (a long gown and veil), niqab (covering the wholeface, with slits only for the eyes) or burqa (a long gown with niqab) (Papanek, 1971; Roomi,2005, p. 1; Roomi and Harrison, 2010, p. 151; Werbner, 2007, pp. 163-4), bottom of form.

3. According to Werbner (2007), “honour” (izzat) is a very broad concept, it refers to caste andclass status, to public reputation and to symbolic capital accumulated through generositytowards guests and inferiors” and most importantly include the chastity of women. In Pakistanmale kin even killed the women for not protecting their family honour (Werbner, 2007, p. 166).

4. Rupees (Rs.) is Pakistani currency.

5. GBP (£) ¼ 140.852 PKR (Rs.) mid-market rates on 3 June 2011, available at: www.xe.com/ucc/convert/?Amount ¼ 1&From ¼ GBP&To ¼ PKR

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Corresponding authorSamia Mahmood can be contacted at: [email protected]

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