 Chasing credit: the bane of small and medium scale enterprises in Assin North Municipality, GhanaSuleman Dauda and Samuel H. Nyarko International Journal of Entrepreneurship and Small Business, 2014, vol. 22, issue 2, 218-230 Abstract: This article assesses the institutional arrangements for sourcing credit and constraints facing SMEs in accessing credit to finance their operations in Assin North Municipality of the Central Region, Ghana. A descriptive cross sectional survey research design was employed in the study. A sample size of 80 respondents was drawn for the study and questionnaire was the instrument used for collecting the data. The study reveals that friends or family members were the principal sources of funding available for SMEs. Also, high collateral requirements, high level of taxation and competition from large scale businesses for finance and market were the major constraints facing the growth and expansion of SMEs. These challenges have stifled the growth and expansion of SMEs in the municipality. It is recommended that a special fund be established by the government and other stakeholders in the finance sector to respond solely to the credit needs of SMEs in the municipality. Keywords: credit access; small and medium-sized enterprises; SMEs; SME funding; Ghana; firm growth; collateral requirements; taxation; competition; SME financing. (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:ids:ijesbu:v:22:y:2014:i:2:p:218-230 Access Statistics for this article More articles in International Journal of Entrepreneurship and Small Business from Inderscience Enterprises Ltd |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.