Empowering Communities: A Socio-Economic Analysis of Self-Help Groups (SHGs)

Abstract

Self-Help Groups (SHGs) serve as essential vehicles for community empowerment, particularly in regions facing socio-economic challenges. This study aims to provide a comprehensive socio-economic analysis of SHGs, shedding light on their pivotal role in community development. By amalgamating existing literature with empirical research, this investigation delves into how SHGs foster economic independence, social cohesion, and sustainable growth within communities. Through rigorous identification of research gaps and articulation of clear objectives, the study strives to deepen the understanding of SHGs' profound impact on marginalized communities. Findings underscore SHGs as catalysts for socio-economic transformation and pinpoint avenues for enhancing their effectiveness in fostering inclusive development. The insights gleaned from this study hold profound implications for policymakers, practitioners, and researchers, furnishing them with actionable strategies to bolster support for SHGs and magnify their impact on community empowerment. Advocating for a holistic approach to surmounting challenges confronting SHGs, such as limited access to financial services, governance issues, and gender disparities, this research underscores the power of innovation and collaboration in surmounting these hurdles. Ultimately, this study accentuates SHGs' potential to spearhead sustainable development and fortify the resilience of communities.