Microeconomic Factors of the SME Financing Gap in Cameroon

Facteurs Microéconomiques du Déficit de Financement des PME au Cameroun

Christian Nguena and Roger Tsafack-Nanfosso ()

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Abstract: The aim of this study is to carry out an econometric assessment of the microeconomic factors responsible for the external financing problem of SMEs in Cameroon. Using a multinomial logit model, the variable "Main source of financing" was estimated based on survey data from financing stakeholders covering a sample of 413 SMEs in Cameroon. The results show that the external financing deficit is explained by the absence of accounting information, the legal status Limited Liability Company (SARL) and Limited Company (SA), belonging to the industrial sector, the low number of employees , high interest rate and long-term credit requests. These last two causes are reinforced by the very last financial crisis. These results lead us to question the various actors on the decisions to be taken according to their level of responsibility in these elements of obstacles to the financing of SMEs.

Date: 2014-06
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Published in African Development Review, 2014, 26 (2), pp.372-383. ⟨10.1111/1467-8268.12098⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-04228954

DOI: 10.1111/1467-8268.12098

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