Examining the Impact of Business Loan Accessibility to Empowering Student Entrepreneurs: A Study on University Students’ Perceptions
DOI:
https://doi.org/10.36609/bjpa.v32i1.1108Keywords:
Student Entrepreneur, Business Loan, Empowerment, JKKNIUAbstract
This study was mainly focued on exploring the impact of loan accessibility of student entrepreneurs at JKKNIU. The study was carried out by using quantitative approach with data gathered through a questionnaire survey from primary sources. The findings of the study revealed that the students are owned distinct types of businesses such as clothing and online business both,etc. In addition, most of them are running their businesses for like 1-2 years, accounted (38%). Although, (92%) of them have been applied for the loan to support their entrepreneurial venture, most of them had taken loans from personal loan (32%), NGO (30%) and bank (26%). In case of their loans they took maximum took it for the purpose of expansion of their business (30%) and to buy necessary items (28%). To get a loan student entrepreneurs in the respective area had to face obstacles during the application process of a loan (86%). In that case, most of them believes that it is difficult to access loans as a student entrepreneurs, estimated (62%). Moreover, due to not getting the expected loan they had faced challenges like hindered business growth (28%), missed investment opportunities (24%), delayed business launch (16%). Additionally, for access to loan as a student entrepreneurs are high interest rates (32%), complex application process and collateral requirements both scored (22%). Besides, they faced challenges like uncertainty to pay EMI due to gradual capital deficient (32%), uncertainty in paying other taxes and unable to scale business both scored (18%) while returning a loan. To resolve this issue (72%) of the respondents believes that government should take initiatives and prefer 12 moths as perfect grace periods (46%). Therefore, this study suggests that government, policymakers, private sector organizations, lending institutions and relevant authorities should come forward and ensure financial literacy, different types of easy funds and grace periods, collaboration among educational institutions and private secto lending agencies, etc. so that the student entrepreneus can take part in the growth of the economy in the country.
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Copyright (c) 2025 Nazmul Hasan, Sharjil Hasan
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