Women's participation in the fulfillment of the principle of education, training, and information in credit unions: a comparative analysis of three credit unions in Quito

Abstract

This research aims to analyze the perception of women engaged in retail activities regarding the impact of access to microcredit on their quality of life and empowerment. A qualitative study was conducted through in-depth interviews with 20 women beneficiaries of microcredit in the city of Loja, Ecuador. The interviews addressed various dimensions, such as demographic aspects, microcredit usage, empowerment, and quality of life. The results reveal that women perceive microcredit positively, considering it a key factor in improving both their quality of life and that of their dependents. This improvement is mainly reflected in the enhancement of their businesses through the acquisition of furniture, inventory, and increased income. The rise in income has provided greater flexibility to meet the basic needs of their families, such as food, education, health, and clothing, especially in cases where women are heads of household. At the level of empowerment, beneficiaries perceive a positive impact, as microcredit programs have influenced their emotional well-being, economic and financial independence, as well as their self-confidence and self-esteem. The effect of microcredit is greater among young women, with higher education levels, who use the credit for investment and possess financial management knowledge. Additionally, it was observed that the benefits derived from microcredit tend to manifest in the medium and long term. These findings highlight the importance of providing access to microfinance and including financial education and training to ensure the success and sustainability of women-led retail businesses.