Access to Finance and Sustainability of Small and Medium Enterprises in Central Uganda

Byakatonda Patrick, Mabonga Eric and Byamukama Eliab Patrick
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Byakatonda Patrick: Kampala International University, College of Economics and Management, P. O. Box 20000, Kampala, Uganda
Mabonga Eric: Kampala International University, College of Economics and Management, P. O. Box 20000, Kampala, Uganda
Byamukama Eliab Patrick: Kampala International University, College of Economics and Management, P. O. Box 20000, Kampala, Uganda

International Journal of Research and Innovation in Social Science, 2021, vol. 05, issue 09, 263-268

Abstract: This paper sought to establish the effect of Access to finance on sustainability of Small and Medium Enterprises (SMEs) in central Uganda. A mixed methods approach (quantitative and qualitative) was adopted. Cross-sectional, descriptive and narrative designs were employed by this study. Self-administered questionnaires and key informant interview guide were the main instruments of data collection on a sample of 281 SMEs as determined by Krejcie and Morgan (1970) table for determining sample size. Data was analyzed using SPSS and content analysis. Results revealed that access to finance has a significant effect on business sustainability in central region in Uganda (R Square = .263; beta = .341). SMEs with limited or no access to finance find it difficult to grow and sustainability has remained a challenge; SMEs that have access to finances are able to ensure sustainability. This research study recommends government financing scheme to entrepreneurs/enterprises initiated to provide finances to SMEs in particular, and a financing policy for SMEs should be developed and then the government should provide financing at fair interest rates. Still SMEs should well be classified by status and sector before advancing them with finances.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:bcp:journl:v:5:y:2021:i:09:p:263-268

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