The Union of Microfinance Institutions unveiled a study that analyzed the importance of microfinance to reduce informal financing and expand access to credit at the base of the pyramid Colombia.
As regards the origin of the credits, it is clear that one of the main reasons for the persistence of informality with regard to formal microcredits is the low production capacity, self-exclusion and lack of financial education both at the urban and national level.
“81.2% of micro-enterprises decide not to access credit, this added that 73.3% of Colombians save at home”Hoyos said.
He added that the foregoing adds to the difficulties the micro entrepreneurs and of those who have entrepreneur to access the creditbeing the lack of routine, lack of registration in the chamber of commerce and the not pay health insurance premiums And pension to the social security system some factors that could impede that access.
Source: El heraldo
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
