Respond to students answer in their post and give them feedback!! Entrepreneursh

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Respond to students answer in their post and give them feedback!!
Entrepreneurship is alive and well in developing countries with micro credit being a popular source of funding for these entrepreneurs. What are the benefits and costs of micro financing? Does it really encourage entrepreneurship in these countries?

By Mr. Harris


I think this is a great idea for other countries to use micro financing. The benefits are that it helps poor people become entrepreneurs with small amount of money borrowed and small interest rates. The loaners also help the entrepreneurs manage the money borrowed so they won't go into debt. In my opinion this definitely encourages entrepreneurship in other countries. From what I've researched the majority of these aren't that big so they are paid back almost immediately.

Respond to students answer in their post and give them feedback!!
Entrepreneurship is alive and well in developing countries with micro credit being a popular source of funding for these entrepreneurs. What are the benefits and costs of micro financing? Does it really encourage entrepreneurship in these countries?

By Mr. Harris


I think this is a great idea for other countries to use micro financing. The benefits are that it helps poor people become entrepreneurs with small amount of money borrowed and small interest rates. The loaners also help the entrepreneurs manage the money borrowed so they won't go into debt. In my opinion this definitely encourages entrepreneurship in other countries. From what I've researched the majority of these aren't that big so they are paid back almost immediately.

Respond to students answer in their post and give them feedback!!
Entrepreneurship is alive and well in developing countries with micro credit being a popular source of funding for these entrepreneurs. What are the benefits and costs of micro financing? Does it really encourage entrepreneurship in these countries?

By Mr. Harris


I think this is a great idea for other countries to use micro financing. The benefits are that it helps poor people become entrepreneurs with small amount of money borrowed and small interest rates. The loaners also help the entrepreneurs manage the money borrowed so they won't go into debt. In my opinion this definitely encourages entrepreneurship in other countries. From what I've researched the majority of these aren't that big so they are paid back almost immediately.

Explanation / Answer

Microfinancing is a very useful methods that is being followed in some countries where poor people are given small loans using which they can start small scale business. These loans come with minimum interest. Hence they can be paid easily. But there are instances where people misuse this amount and hence are not able to payback the loan . These problems are very less when compared to the huge benefits obtained and hence microfinancing is a very good method and encourages entreprenuership .

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