Sustaining Small Entrepreneurs Through a Microcredit Program in Penang, Malaysia: A Case Study

Abstract

Microcredit has been recognized as one of the most efficient tools for alleviating poverty by the United Nations considering its significant contribution in terms of job creation and revenue generation for governments. Microcredit programs can change the lives of people and revitalize communities in the world’s poorest as well as the richest countries. This study looks at 350 entrepreneurs who joined the scheme of various microcredit programs in Penang, Malaysia. In this study, findings have been obtained that show that microcredit loans have successfully increased entrepreneur income, have positive impacts on business, and fulfill basic needs of entrepreneurs.