DESIGN AND IMPLEMENTATION OF A WEB BASED MICRO FINANCE SUPPORT SYSTEM

CHAPTER ONE

1.0     INTRODUCTION

The need for web base support system has become important in our day to day operation. The web provides a common infrastructure on which the individual applications can work with each other (Linthicum, 2003). For instance the web base is an internet support system that facilitates all forms of human activities. It can be used to showcase day to day activities of the microfinance operations   for rural farmers for sustainable economic development in the society.  It also plays an important role for computerized support systems. As proposed in 2003, the notion of web-based support systems concerns multidisciplinary investigations that combine   computer technologies with domain specific studies (Yao and Yao, 2003). Through the web-base support system those rural farmers can have accessibility to all forms of microfinance assistance via through the local or international means to boost socio-economy development. 

The web-based support systems can be understood from the following specific aspects. The Web is viewed as a virtual machine running various operating systems.  Web browsers play the role of the interface or window in which the Web application resides. This view makes it quite apparent that the Web is a global deployment environment (Cerami, 2002).

The notion of sustainable economic development emerged in 1987 as the overriding goal for human activities (WCED, 1987). Sustainable communities seek well-balanced social, economy and environmental development strategies based on human responsibility to respect the needs of both nature and future generations (Kaempf, 2001). Sustainable Economy activities are about the long-term collaboration of people working at different disciplines, organizations, institutes, and regions. We have been striving to use information technologies for supporting

complex environmental, economic and social problem solving  (Kaempf, 2001).

However, informal and complex social interactions in sustainable community activities are challenging the adaptability and usability of traditional computerized support systems. For example, the individual computer tools are independent, run on isolated specific platforms, and are optimized to specific functions. Users have to devise practices to coordinate individual tools for addressing requirements of sustainable community activities. Such human coordination practices might both be inefficient and error-prone. On the other hand, available computerized support systems are organized around tools for communicating and for sharing information (Moran, 2005). When some tools get out of date, these systems may not be able to satisfy the ever-changing needs of sustainable communities. In addition, computerized support systems are often domain-specific and proprietary. They may not adapt to the multi disciplinary, multi-agency and multi-sector nature of sustainable community activities. Therefore, this study attempts to investigate a web base microfinance support system for women rural farmers in sustainable economy development.

1.1   Background of Study

Microfinance is a way to promote economic development, employment and growth through the support of micro-entrepreneurs and small businesses.

Microfinance is a broad category of services which includes microcredit. Microcredit is provision of credit services to poor clients.

Microfinance can also be described as a source of financial services for entrepreneurs and small businesses lacking access to banking and related services, it is the provision of financial services to low-income people. It refers to a movement that envisions a world where low-income households have permanent access to high quality and affordable financial services to finance income-producing activities.

The term ‘Economy Sustainability’ is the use of various strategies for employing existing resources optimally so that a responsible and beneficial balance can be achieved over a long term; it is the ability of an economy to support a defined level of economic production indefinitely.

The world’s nations presently defined their top economic goal in terms of GDP. This is the total amount of production within a nation, usually within one year

The term rural applies to sparsely settled or agricultural country relating to the country side as opposed to the city. Women rural farmers are farmers usually country people who engage in small scale farming with non-modernized/mechanized farming equipment.

Therefore this research topic focuses on the automation process involved in providing microfinance support for these women rural farmers.     

1.2   STATEMENT OF THE PROBLEM

• Lack of web base microfinance support system for farmers and other related agencies.
•  A malfunctioned web-base support system often manifest into a negative outcomes.
• Change, especially in technology or in a paradigm, is extremely costly. It requires a large investment in planning, training, designing, development, new maintenance and administration and carries high software and hardware costs.
•  Lack of technical-know how, poor management, and the inability to adapt to changes in science and technology which thus  reduces the overall system performance.

Scholars on Informational Technology and Other related disciplines have always try how best to achieve web-base system over the years by trying to make series of investigations but the result still seems proved abortive, and there still lies areas  that needs urgent attention.  In order to resolve these problems, the need  for  a web base microfinance support system for women rural farmers in sustainable economy development has been identified to investigation. 

1.3     AIM AND OBJECTIVES OF THE STUDY 

The main aim of this study is to examine and develop a web base microfinance support system for women rural farmers for sustainable economic development. There are some specific objectives this study also aims to achieve, this includes the following:

• A web base micro finance support system for women rural farmers in sustainable economy.
• To Create a Database for all the players in the system, to give a central communication link among them.

1.4     SCOPE OF THE STUDY

This study focuses only on aweb base microfinance support system for women rural farmers in sustainable economy development. Since scholars have not given credence to this, hence this has necessitated the researcher to investigate about this. 

LIMITATIONS OF THE STUDY

The drawbacks of this study are:

• The cost associated with implementing, maintaining such a system may higher than that of its manual counterpart.
• The microfinance support web based file will be built for rural women farmers alone and will not be inclusive for male rural farmers and hence could pose a limitation.
• There is the utmost challenge of getting the rural women to contribute effectively by way of providing valuable information for the development of the content of the microfinance web support system.

DEFINITION OF TERMS

Microfinance is a source of financial services for entrepreneurs and small businesses lacking access to banking and related services; it is the provision of financial services to low-income people.

Sustainable Economy: is the use of various strategies for employing existing resources optimally so that a responsible and beneficial balance can be achieved over the long term.

 Women Rural Farmers: are farmers usually country people who engage in small scale farming with non-modernized/mechanized farming equipment.

1.5     SIGNIFICANCE OF THE STUDY

• This study will be of benefit to Women Rural Farmers, Telecommunication Industries, Banking Industries and Other related firms, since a thorough analysis of this study could help them make an effective decision on how to plan for web-base support system for optimum performance.
• The study would be a good source of reference to future researchers.  Thus, it will add to bulk of existing literature.  Findings of this study could help remedy problem that will occur in web base support system and how to manage the data base effectively.
• The system will serve as a tool for examining the impact of microfinance support on the livelihood and of the rural women farmers being put under consideration.
• The system will serve to benchmark help these rural farmers work with lenders (using the web based file as an intermediary) and upgrade their financial skills based on best management practices.