CONSTRAINED AGRICULTURAL ENTREPRENEURSHIP: EVIDENCE FROM THE HIGHLAND HIMALAYAN CONTEXT

The digitalization of banking has emerged as a transformative force in enhancing financial inclusion and supporting economic growth, particularly in rural communities. This study examines the role of banking digitalization in improving business capacity among rural communities in Indonesia. By leveraging digital banking services such as mobile banking, e-wallets, and online loan platforms, rural entrepreneurs can access financial resources, manage transactions efficiently, and participate in broader economic activities. The findings reveal that digital banking reduces barriers to credit access, increases financial literacy, and promotes entrepreneurship. Furthermore, it enables rural businesses to integrate into the digital economy, fostering resilience and growth in local markets. However, challenges such as digital literacy gaps, infrastructure limitations, and trust issues must be addressed to maximize the potential of banking digitalization. This study underscores the importance of collaborative efforts among policymakers, financial institutions, and community stakeholders to ensure equitable access and sustainable development in rural areas. Keywords: Banking digitalization, rural communities, business capacity, financial inclusion, digital economy

Purpose FinTech is increasingly recognized for its role in accelerating economic growth; however, a significant gender gap in financial inclusion persists, particularly in developing countries like India. Women entrepreneurs continue to face substantial barriers in accessing financial services due to inequalities in income, education and socio-cultural norms. This study aims to examine how FinTech adoption (FA) affects women’s entrepreneurship (WE), with a focus on the mediating role of financial inclusion (FI) and the moderating influence of gender gap in educational attainment (GGEA). Design/methodology/approach The study leverages a data set covering Q1 2008 to Q1 2023, drawn from various sources, including the World Development Indicators, Financial Access Survey, micro, small, and medium enterprise database and Global Gender Gap Report. A moderated mediation model is tested using SPSS and the PROCESS macro. Findings The results show that FA significantly enhances WE. This relationship is mediated by FI. However, the direct effect of GGEA on WE is negative, suggesting that higher education may lead to non-entrepreneurial career paths or reflect systemic barriers. Importantly, the positive effect of FI on WE is stronger in contexts with greater educational equality. This emphasizes the need for integrated policies that combine financial and educational inclusion. Originality/value This study offers a novel framework by exploring the moderated mediation effect of educational gender equality between FinTech, FI and entrepreneurship pathways. It provides actionable insights aligned with Sustainable Development Goals (SDG) such as SDG 5 (gender equality), SDG 8 (decent work and economic growth), SDG 9 (industry, innovation and infrastructure) and SDG 10 (reduced inequalities).

Rural entrepreneurship had been a neglected domain in the past, but with the spread of education and awareness among agricultural enterprisers, this perception has shifted, and the agricultural enterpriser has emerged as one of today’s most haunting and sacred entrepreneurs. When we talk about a country, agricultural entrepreneurship plays an important role in economic development and contributes significantly to the country’s process. If agricultural entrepreneurship is neglected and stopped from being the primary source of productive activities, the country’s development will be extremely slow. The importance of rural entrepreneurship is discussed in this paper, which focuses on the role of rural entrepreneurs in the Indian economy and their contributions to economic development.Enabling the emergence of rural entrepreneurship achieves a variety of broader aims, such as growth with equity. The agricultural entrepreneurship needs to be developed and shaped with entrepreneurial traits and skills. This could affect entrepreneurs’ ability to react to shifting trends in both domestic and international markets, as well as develop competences necessary to sustain and strive for greatness. The article as a whole attempts to identify the issues and problems that rural entrepreneurship faces in order to assess its potential. It seeks to focus on the most pressing issues that entrepreneurs confront, particularly in the product commercialization sector, as well as several primary amenities such as water, electricity convenience, transportation, required energy, and financial amenities.This research paper focuses on the market’s most major hurdles and issues, as well as the potential and prospects of an analogous to be a prepared and successful entrepreneur in India.

Digital technologies, exemplified by e-commerce and digital finance, have emerged as key drivers of rural entrepreneurship. However, their synergistic effects have received limited scholarly attention. This study employs a quasi-natural experiment of the ‘E-commerce into the Countryside’ (ECC) project, combined with the Digital Financial Inclusion (DFI) index, to examine the synergistic effects of e-commerce and digital finance on rural entrepreneurship in China. Drawing on nationally representative household survey data and a triple-difference (DDD) estimation strategy, this study shows that the synergy between e-commerce and digital finance significantly promotes rural household entrepreneurship. This synergy arises because e-commerce stimulates credit demand for entrepreneurship, while digital finance alleviates the corresponding credit constraints. Notably, this synergistic effect is observed primarily among agricultural entrepreneurs with internet access in non-deprived villages. Moreover, the synergy further fosters innovation in rural entrepreneurship. These findings underscore the importance of integrating digital technologies and addressing structural barriers to ensure the inclusive growth of the digital economy.

Entrepreneurship in Nigeria has long been practiced as small businesses in subsistence mode due to the lack of adequate essential factors of production required for its practice compared to counterparts in developed countries. Lack of access to conventional financial institutions and services has also slowed the growth of entrepreneurship in the country. This study reviewed the Central Bank of Nigeria’s (CBN’s) programmes to increase the financial inclusion of rural business dwellers who are yet to be properly banked. The research used a qualitative methodology to explain CBN programmes aimed at improving entrepreneurs’ financial inclusion and identified opportunities and challenges. The study concludes that rural entrepreneurs lack access to financial literacy and banking services because banks prefer urban locations for patronage, security, and high stakeholder returns. As a result, rural entrepreneurs are saving profits in their homes or farms, increasing the unbanked and underbanked population. The study recommends rural residents be educated on financial literacy, banking, and cashless transactions to help the CBN’s financial inclusion policy succeed. Due to the harsh terrain of rural regions, the Nigerian government must urgently improve infrastructure (markets, roads, internet access, electricity, etc.) in rural areas. Keywords: Financial access, Financial exclusion, Poverty, Rural entrepreneurship, Strategy and Sustainability

This chapter explores digital financial inclusion strategies for rural and urban communities in Botswana, Namibia, South Africa, and Zimbabwe. Financial inclusion has taken centre stage in academic discourses due to its criticality in enhancing socio-economic development. Digital financial services refer to services that are made available through mobile phones and the internet. The World Bank indicates that in developing countries, more households own mobile phones as compared to those who access water and electricity which highlights high mobile penetration rates in developing countries. Digital financial services are key in enhancing financial inclusion, by including the previously marginalised people into the formal financial system. Statistics reveal that more than 60 percent of the global population now has access to digital financial services hence regulators and policymakers must focus on this burgeoning issue. Huge disparities are evident in the levels of digital financial inclusion between the rural and urban communities for the countries under study, largely because of the marginalisation of rural communities and their depressed spending patterns. Proposed digital financial strategies should, therefore, address this anomaly and include the rural communities into the manifold of digital services to ameliorate the vagaries of poverty rampant in rural communities.

Financial inclusion and literacy are government efforts to increase economic growth for the welfare of its people. The level of community welfare can be seen through household consumption expenditures. Rural communities in Indonesia have a larger number than those in urban areas. Based on these problems, this study aimed to determine the impact of rural community financial literacy and inclusion on consumption levels. The data used were based on the results of IFLS 5 in 2014 with a total sample of 1,585 individuals. The method used in the analysis was the Tobit regression model. The results showed that the variables had a significant effect on the consumption level of rural communities were ownership of savings, financial literacy, market access, income, ownership of assets in the form of houses and buildings, and age. Meanwhile, the insignificant variables were ownership of loans, poverty, and ownership of assets in the form of land. From these results, it can be seen that the consumption pattern of rural communities in Indonesia does not depend on loans, but on financial literacy, income, and market access.

This paper examines rural social entrepreneurship program in rural Malaysia communities. The program seeks to promote and turn rural entrepreneurs into social entrepreneurs by strengthening their economic activities and enhancing social capital. This paper focuses on a component of the rural entrepreneur program (REP), namely the Social Entrepreneur Club (SEC). The club runs the rural entrepreneur program and upholds the program’s objectives. It promotes the socialization of rural communities by engaging them in entrepreneurial activities. The club operates under the Rural Internet Centre (RIC); a telecentre that provides space for rural communities to enhance their ICT knowledge and skills. However, despite the opportunity provided, some of the rural entrepreneurs do not show adequate interest in the program as they prefer being entrepreneurs, but not social entrepreneurs. Thus, the success of the SECs depends on the entrepreneurs’ participation in the program, the geographical locations and the support from the telecentre managers. This paper employs the economic gardening concept and community informatics approach to empirically gather evidence to test the theory on ICT for development; particularly rural development for rural communities. A quantitative method has been used to measure the implications of ICT in this program. Data from the entrepreneurs is obtained through an online survey which has been conducted across the varying regions in Malaysia. The quantitative data is supported by interviews (qualitative method) with telecentre managers. The primary data has been triangulated to analyze the results. The key findings show that the SEC is seen as economic development strategy by creating jobs, as well as increasing income and business opportunities. It also strengthens social networking needed to build social capital within and outside of the rural communities. Hence SEC is also a community connector and can be used as an indicator on the quality of rural communities’ wellbeing.

The government’s objective to increase financial literacy and inclusion should be supported by the stakeholders. The increasing of financial inclusion and literacy play important role to generate community livelihood. Currently, the level of financial inclusion and literacy in Indonesia are diverse. It depends on many factors such as where they are living, in urban area or country site. In urban areas, the financial literacy index reaches 41.41 percent and the level of financial inclusion reaches 83.60 percent. On the other hand, in rural areas the financial literacy index only 34.53 percent and the level of financial inclusion only reaches 68.49 percent. These statistics information show the lack of financial inclusion and literacy among rural community who most of them work as farmers and fishermans. Therefore this research is conducted through desk research methods to examine factors which cause the lack of financial inclusion and literacy within agrarian society. The research offers the strategic plan to improve financial inclusion and literacy index within three years period, which are devided into three phases. The first one is called as the phase of educating coomunity, the second phase is the penetration of financial institution and the last phase is expanding the access of financial services to the agrarian society. This road map is one of the alternative strategy that could be adopt to improve the financial inclusion and literacy and to support government development program. Keywords: Financial Literacy, Financial Inclusion, Agrarian Society.

Financial inclusion is a crucial driver of economic development, enabling individuals to access essential financial services, manage risks, and invest in their future. However, rural India continues to face financial exclusion due to inadequate banking infrastructure, digital illiteracy, and systemic barriers. Financial Technology is a disruptive technology that has challenged the whole system of traditional banking, enabling banking at hand through mobiles and other digital platforms. The study measures the financial inclusion of rural communities. For that, a village named Kotputli-Behror district of Rajasthan state was chosen, and data were collected through a questionnaire to check the access and viability of financial services and FinTech services, respectively. Thus, this research investigates first the availability and access to financial services and the transformative impact of FinTech innovations, such as mobile wallets and digital payment platforms, in addressing the financial exclusion challenges faced by rural communities. Employing a qualitative methodology, the study utilizes structured surveys to assess traditional banking penetration, financial accessibility, and FinTech adoption patterns. The findings reveal that FinTech has significantly enhanced financial access, particularly for younger demographics and women, thereby bridging the financial divide. However, despite this progress, challenges persist, including inadequate infrastructure, digital literacy gaps, and gender disparities. To overcome these hurdles, the study underscores the imperative need for targeted policy interventions, digital literacy programs, and infrastructure development to amplify FinTech’s potential in fostering inclusive and sustainable financial ecosystems in rural India.

The adoption of an electronic banking system has reduced the complexities in financial transactions and made it possible for the vast populace to be financially included formally. Thus, financial inclusion has become a product used to improve the economic prosperity of entrepreneurs in rural communities. The study examined the impact of e-banking on financial inclusion and entrepreneurial growth in rural communities of Akwa Ibom State. A survey research design was adopted alongside multi-stage sampling techniques. Data for the research were collected from 300 respondents of farmers, petty shop sellers and auto-mechanics and data were analysed using inferential tools of the SPSS statistical package. The study was founded on public choice and diffusion of innovation theories. The study revealed that productivity in the farming sector in rural communities has improved immensely due to financial inclusion, despite the fact some farmers are still unaware of formal banking services. The study recommended that the Government should ensure proper sensitisation of the benefits of formal banking because some farmers in rural communities are still unaware of formal banking services. This has affected the enhancement in productivity that e-banking on financial inclusion has offered to farmers in rural communities.

In the context of the theory of entrepreneurial ecosystems (EE), a set of administrative and legal measures that stimulate the development of entrepreneurship in agriculture have been identified and analyzed. These elements of EE are poorly studied in science, at the same time, administrative and legal measures to stimulate entrepreneurship in agriculture are positioned from the point of view of the development of the institution of state regulation in agriculture and can have a significant impact on all structural elements of EE. The authors have identified three models of state regulation of entrepreneurship in agriculture, one of which is the model of state stimulation of entrepreneurship in agriculture. State and non-state measures to stimulate entrepreneurship in agriculture are highlighted, the forms and levels of regulation are indicated in state regulation. The quantitative and qualitative growth of rural entrepreneurship subjects, the introduction of innovations, the formation of entrepreneurial values, the potential for solving modern problems of agricultural entrepreneurship are highlighted as the goals of state stimulation of entrepreneurship in agriculture. It is concluded that it is possible to single out an agricultural entrepreneurial ecosystem (AEE).

Purpose The purpose of this paper is to examine the mediating role of social capital in financial literacy and financial inclusion relationship in rural Uganda. The major aim is to establish the role of social capital in the relationship between financial literacy and financial inclusion. Design/methodology/approach The paper adopts and uses MedGraph programme (Excel version 3.0), Sobel and Kenny and Baron tests to test the mediation effect of social capital in the relationship between financial literacy and financial inclusion. Findings The results reveals that social capital is a significant mediator in the relationship between financial literacy and financial inclusion of rural poor in Uganda. Financial literacy did not have a direct effect on financial inclusion, but through full mediation of social capital. Existence of social capital into the relationship boosts the relationship between financial literacy and financial inclusion by 61.6 per cent among rural poor households in Uganda. Thus, the finding suggests that with the absence of social capital, financial literacy may fail to enhance the level of financial inclusion among rural poor households in Uganda. Research limitations/implications This study adopted only single research approach using a questionnaire. However, future research through interview may be of importance. Besides, for the purpose of triangulation, a study involving financial institutions’ staff may be viable. Moreover this study was limited by the fact that it was cross-sectional. Furthermore, a longitudinal study may be useful in future to investigate the mediating impact of social capital spanning over a long period of time. Practical implications Managers, policymakers and financial inclusion practitioners should advocate and embark on building social capital among rural communities, so as to improve on the level of financial inclusion. Originality/value While a large body of research has been carried out on financial literacy, this paper is the first to test the mediating role of social capital in the relationship between financial literacy and financial inclusion, especially in rural Uganda. This study generates evidence and contributes to the powerful influence of social capital in enhancing the level of financial inclusion based on financial literacy.

ABSTRACTFarmers' entrepreneurship is significant in rural income generation and economic development. Farmers' perceptions of entrepreneurs redefine farming from a lifestyle to a business venture that can enhance their rural well‐being. Based on data collected from Shai‐Osudoku and Ho in Ghana's Greater Accra and Volta Regions using a questionnaire, this study explores the facilitating role of digital inclusive finance (DIF) on farmer entrepreneurship (FE) in Ghana. We account for endogeneity using endogenous treatment estimation and found out that FE is considerably improved by the increased availability of digital financial services by 49%, which is clearly higher than the 31.6% of the probit model. The PSM results further confirm that DIF adoption increases entrepreneurial activity by 10.3%, which is significantly robust to matched comparisons (p < 0.01). This finding strengthens causal inference; it complements both the descriptive and endogenous treatment models. Our results further show that access to digital finance, digital literacy, and household income significantly increase farmers' entrepreneurial activities, promoting entrepreneurship, poverty reduction, and economic advancement in rural regions, thereby promoting sustainable development goals (SDGs) 1, 8, and 9, respectively. We suggest that for sustainable economic growth and farmer entrepreneurship, governments should invest in digital infrastructure, abolish transactional costs (E‐Levy tax), and implement digital literacy programs to promote entrepreneurship and financial inclusion.

Most entrepreneurship studies have an urban focus, and it is studied mainly from the perspective of opportunity exploitation. Rural entrepreneurship presents different characteristics, and it requires analysis from a resource-based view since this kind of entrepreneurial behavior takes place in rural communities under resource constraints. The sustainable livelihood perspective represents a relevant framework in rural entrepreneurship, considering resources and capacities to face poverty in rural areas. Therefore, this study presents a literature review to identify current and emerging issues in rural entrepreneurship from a sustainable livelihood framework. The literature review identifies that the main concepts involved in rural entrepreneurship and sustainable livelihood are women, poverty alleviation, youth, social entrepreneurship, and institutions. Likewise, social capital and human capital prevail as the most relevant capitals in the analyzed documents. The study offers research opportunities in emerging issues related to social entrepreneurship, governance and institutions, livelihood growth, and eco-entrepreneurship for extending the boundaries of rural entrepreneurship from the sustainable livelihood framework.