The Effects of Delayed Payment on Small and Medium Enterprises in Cape Coast

Nicholas Ampofo and Stephen Baffoe
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Nicholas Ampofo: University of Cape Coast
Stephen Baffoe: University of Cape Coast

International Journal of Research and Innovation in Social Science, 2025, vol. 9, issue 7, 1002-1014

Abstract: Small and Medium Enterprises (SMEs) play a significant role in the development of every country. They create employment opportunities and contribute to the socio-economic development of the citizenry. However, SMEs face a lot of challenges in their operations including, mostly, financial challenges. One reason attributed to the financial challenges faced by SMEs is as a result of late payment from their customers who buy on credit from them. The study therefore sought to investigate the extent to which payment to SMEs delay, to examine the causes of delayed payments to SMEs and to assess the effects of delayed payments on SMEs using SMEs in Cape Coast as a case study.

Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:bcp:journl:v:9:y:2025:issue-7:p:1002-1014

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