Effect of owner-manager’s financial literacy on the performance of SMEs in the Cape Coast Metropolis in Ghana

Daniel Agyapong () and Albert Bampo Attram ()
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Daniel Agyapong: University of Cape Coast
Albert Bampo Attram: University of Education

Journal of Global Entrepreneurship Research, 2019, vol. 9, issue 1, 1-13

Abstract: Abstract Financial literacy enables owner-managers of SMEs to understand and assess their own financial needs and make rational financial decisions. The paper explores the financial literacy of owner-managers of SMEs in the Cape Coast Metropolis and how such literacy influences the performance of their businesses. The study population were owner-managers of registered SMEs in the Cape Coast Metropolis from the National Board for Small and Medium Enterprise, out of which a sample of 132 was selected through the simple random sampling technique. The data was analyzed using Structural Equation Model. The results showed a positive relationship between financial literacy and the firm’s financial performance (t = 35.631, p

Keywords: Financial literacy; SME performance; Structural equation modeling (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (6)

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DOI: 10.1186/s40497-019-0191-1

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