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At the very outset, a theoretical environment has been set to describe the women entrepreneurship and microfinance. The socio-economic status of women entrepreneurs has been discussed in the second chapter. The third chapter discusses on how the women entrepreneurship through microfinance activities alleviates poverty and impacts the socio-economic status of women entrepreneurs. The suggestions and the conclusions are elaborated in the last chapter. It is hoped that a research of this nature, oriented would provide an in-depth insight into the socio-economic status of women entrepreneurs and also the problems that are encountered by the microfinance schemes. This research would also be helpful for the Government, the Non-Governmental Organizations (NGOs), and the Micro-Financial Institutions (MFIs) in formulating a specific policy for the development of women entrepreneurship through microfinance activities.