THE PLIGHT of Micro-Enterprise Owners in RXI in Accessing Financial Inclusion: A Multiple Case STUDY

Abstract

This multi-case study aimed to investigate the obstacles microbusiness owners and managers in Region XI face in achieving financial inclusion. Five individuals were selected using maximum variation sampling, and in-depth interviews were conducted to examine their experiences and coping mechanisms. To ensure reliability, data were triangulated through employee and family interviews. Three key themes emerged from the thematic analysis of experiences with financial inclusion: impediments to financial inclusion, attractive interest rates, and the convenience of loan availability. Four coping mechanisms also surfaced: using marketing mix tactics, depending on divine providence, investigating alternative financing sources, and establishing financial credibility. One participant used insurance investments as an additional tactic, but most participants had similar experiences. In every situation, the marketing mix was a helpful coping strategy.