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1
Okpeyo, Ebenezer Teye, Alhassan Musah, and Erasmus Dodzi Gakpetor. "Determinants of Tax Compliance in Ghana:." Journal of Applied Accounting and Taxation 4, no. 1 (2019): 1–14. http://dx.doi.org/10.30871/jaat.v4i1.935.
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The study examined the factors that influence tax compliance by small and medium tax payers, the difference in the level of compliance between small and medium tax payers and strategies to improve tax compliance in Ghana. The study through stratified sampling technique sampled 100 small and medium tax payers in Accra and other GRA officials for the study. Data was analyzed qualitatively and quantitatively. The results of the study showed that compliance cost, tax rates, tax audits and morals of taxpayers significantly influenced tax compliance. The GRA also indicated that unions and associations of businesses could help increase voluntary tax compliance of small and medium tax payers in Ghana. The study findings provide evidence that there is a significance difference in the tax compliance level between small and medium scale enterprises. The difference can be largely attributed to the inability of small enterprises to file their tax returns on due dates and also to keep proper books of records of their business transactions. The study recommends organizing workshops for businesses to train them on the need to pay their taxes and keep proper records of their transactions, increasing the rate of audits of businesses, imposing fines and penalties for defaulting businesses.
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Gyimah, Prince, and Williams Kwasi Boachie. "Effect of Microfinance Products on Small Business Growth: Emerging Economy Perspective." Journal of Entrepreneurship and Business Innovation 5, no. 1 (2018): 59. http://dx.doi.org/10.5296/jebi.v5i1.12378.
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Small businesses play significant role to the economic stability and development of emerging economies, and access to financial services is crucial to their growth and performance. This study seeks to ascertain whether microfinance products such as loans, savings, insurance, and education effects small business growth in Ghana. The study uses descriptive and inferential statistics on responses of 248 small business owners for data analysis. Using a multiple linear regression analysis, the study found that all the microfinance product or services positively affects small business growth, and the greatest influence is micro loans. This study contributes massively to exact literature to the growth of microfinance institutions (MFIs) and small businesses in emerging economy, Ghana. The study can assist MFIs to assess the effectiveness of their product or services, and can also serves as a guide to an effective utilization of available scarce resources leading to growth of small businesses in emerging economies.
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Blankson, Charles, Kirsten Cowan, and William K. Darley. "Marketing Practices of Rural Micro and Small Businesses in Ghana." Journal of Macromarketing 38, no. 1 (2017): 29–56. http://dx.doi.org/10.1177/0276146717741067.
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Using social identity theory and social capital theory as a backdrop to understand the context of subsistence marketplaces, this study investigates how rural micro and small businesses engage in marketing practices and how poverty reduction policies affect micro and small business activities and growth. The results show that rural micro and small businesses weave morality and religiosity into their commercial activities and survive in a competitive subsistence marketplace by engaging with social networks, relationships with customers, and relationships with staff. The interdependence among these relationships contributes to the competitive positioning of the business and its intelligence gathering. Despite the existence of government programs to fund micro and small business startups, most owner-managers use social networks to initially fund and grow their businesses. The paper ends with implications and future research directions.
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Addae-Boateng, Samuel, and Smile Gavua Dzisi. "Innovation enhancement in family business SMEs in Ghana." International Journal of Innovation Science 8, no. 4 (2016): 388–403. http://dx.doi.org/10.1108/ijis-07-2016-0014.
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Purpose Family businesses are essential for economic growth and development through new business start-ups (entrepreneurship) and growth of existing ones. As competition is fierce, the ability of a company to buoy up its business practices and exceed its own – and its competition’s – expectations through innovation – is critical to survival. In managing family businesses (mostly small and medium-sized enterprises [SMEs]) in the current globally competitive landscape, entrepreneurs must be creative and behave in ways that galvanize workers to be innovative. This study attempts to ascertain the strategies management adopt to heighten innovation in family businesses. Design/methodology/approach Both qualitative and quantitative techniques were used for gathering and analysing data based upon which conclusions were drawn. Findings The study revealed that seven factors should be assessed by SMEs that are family firms to determine the innovative ideas that are promising to be pursued, which are the uniqueness of the idea, its market potential, cost, expert advice, the impact of both current and future environmental forces, availability of raw materials and supplies and the idea’s future appeal. Originality/value This is perhaps the first detailed study of strategies that could be adopted by entrepreneurs and/or managers to heighten innovation in small and medium family firms, which also points out the factors/criteria used to determine which initiatives have higher chances of success – hence deserving to be pursued.
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Mensah, Emmanuel Oppong. "Assessing the Impact of Electronic Business on the Performance of Small and Medium-Sized Businesses in Kumasi, Ghana." TEXILA INTERNATIONAL JOURNAL OF MANAGEMENT 7, no. 2 (2021): 129–46. http://dx.doi.org/10.21522/tijmg.2015.07.02.art012.
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The study evaluated how electronic business impacted the performance of a selected small and medium-sized enterprises (SMEs) in Kumasi. A convenient sample of 50 SMEs in wholesale and retail of consumer goods in Kumasi were selected at random to be surveyed; however, only 30 responded. Structured questionnaires were used to collect quantitative data from the participants to answer the research questions. The results were statistically analyzed to draw conclusions. The results revealed that, to a large extent, the businesses used e-business methods in several ways to undertake five categories of business activities which include advertising, customer support service, marketing, payment system, and order and delivery. Several factors influenced the adoption and use of e-business methods by the businesses, but the most influencing ones were the businesses’ customers’ low use of e-business and telecommunications services not being very dependable. It was also discovered that the adoption and use of e-business made positive impact on the businesses’ performance. It is therefore recommended that more SMEs be encouraged and assisted to fully embrace the use of e-business.
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Tuffour, Joseph Kwadwo, Dinah Akuffo, Awuah Ayebi Kofi, Philip Agyemang Frimpong, and Terrick Sasu. "Adoption of Mobile Commerce and Service in Adentan Municipality of Ghana: An Examination of Factors Influencing Small Enterprises." International Business Research 11, no. 11 (2018): 109. http://dx.doi.org/10.5539/ibr.v11n11p109.
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After the introduction of mobile commerce and service, people have acceptance, adopted and used the services for various purposes. However, little attention has been given its continual usage in small enterprises sector in Ghana. Also, studies on the benefits to businesses and barriers of use of mobile commerce and service have been carried out, but extensions of the studies to include examination of the effect of social and demographic factors of small business owners on mobile services use is lacking in the small enterprises sector in Ghana. The study investigates the factors which determine the adoption of mobile commerce and services among small enterprises in the Adentan Municipality of Ghana. The objective of the study is to determine the effects of demographic factors, experience and attitude on the adoption of mobile commerce and service. Data was collected using questionnaires administered to 400 owners of small enterprises in Adentan Municipality. Using structural equation model analysis, the results show that males have less attitude to use mobile commerce and service than females. Also, as people age, attitude to use mobile commerce and service improves. Education and experience have positive effect on attitude to use mobile commerce and service. On the contrary, there is a negative effect of income on attitude. There is a significant positive effect of attitude on mobile commerce and service’s actual usage. The study recommends that, internet service practitioners should develop effective strategies and tactics to improve the attitude to use mobile commerce and service among small businesses owners in Ghana.
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Nimoh, Fred, Kofi Poku, Kwasi Ohene-Yankyera, Flemming Konradsen, and Robert C. Abaidoo. "Constraints and motivations to sanitation business in peri-urban communities in Ghana." Journal of Water, Sanitation and Hygiene for Development 4, no. 4 (2014): 692–98. http://dx.doi.org/10.2166/washdev.2014.072.
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Ghana lags behind the Millennium Development Goals' target for sanitation, despite widespread effort by the central government. Lessons from the historical shortcomings of Ghana's sanitation policy now call for public–private partnership in the management of sanitation in Ghana. Using observations and in-depth interviews with small-scale sanitation service providers, this study investigated the constraints and motivations of sanitation-related businesses in peri-urban communities in the Ningo–Prampram district of Ghana. Both quantitative and qualitative methods were used for data analyses and reporting. The study found that there exist various sanitation-related businesses such as masons/latrine builders, hardware suppliers and pit-emptier, in the study area whose activities are constrained by some financial, logistical, institutional and social challenges which limit their performance. Nonetheless, the operation of a sanitation business in the study communities was found profitable, and service providers are motivated by the financial returns and other non-financial benefits to remain and continue in their respective businesses. Policy efforts by the government and other stakeholders toward addressing the constraints to sanitation business are crucial for increased private sector participation and better service delivery to all stakeholders in the sanitation market, and the Ghanaian economy as a whole.
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Agyapong, Ahmed, and Raheema Boakye Boamah. "Business Strategies And Competitive Advantage Of Family Hotel Businesses In Ghana: The Role Of Strategic Leadership." Journal of Applied Business Research (JABR) 29, no. 2 (2013): 531. http://dx.doi.org/10.19030/jabr.v29i2.7654.
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<span style="font-family: Times New Roman; font-size: small;"> </span><p style="margin: 0in 0.5in 0pt; text-align: justify; mso-pagination: none;" class="MsoNormal"><span style="font-family: Times New Roman;"><span style="color: black; font-size: 10pt; mso-fareast-font-family: Calibri;">Although family businesses contribute largely to the world output, little is known in literature about their mode of operations in the family hotels. </span><span lang="EN-GB" style="color: black; font-size: 10pt; mso-fareast-font-family: Calibri; mso-ansi-language: EN-GB;">The study aims to address the knowledge deficit on this critical component of the economy by investigating the experiences of family hotels in Ghana to gain a better understanding of the factors that facilitate the competitive positioning of family businesses. This paper investigates the moderating influence of strategic leadership on business strategies and performance of family hotel businesses in Ghana. </span><span style="color: black; font-size: 10pt; mso-fareast-font-family: Calibri;">The findings indicate that cost leadership, differentiation and strategic leadership enhance the performance of family hotel businesses in Ghana. It further showed that strategic leadership moderate the influence of both cost leadership and differentiation strategies on the performance of family hotel businesses</span></span></p><span style="font-family: Times New Roman; font-size: small;"> </span>
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Adusei, Charles, and Isaac Tweneboah-Koduah. "Small enterprises and banking in rural Ghana." International Journal of Research in Business and Social Science (2147- 4478) 9, no. 3 (2020): 175–81. http://dx.doi.org/10.20525/ijrbs.v9i3.696.
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This study aim is to explore owners of small enterprises' appreciation of bank’s role in developing their businesses and the challenges that come along in accessing banking services in the context of Sefwi-Bekwai which is a rural community. Questionnaires were used to solicit information from the owners while descriptive statistics aided the data analysis. The study found that the main source of start-up capital is the owner’s funds whiles saving was recorded as the key benefit of banking. It further revealed that the high-interest rate charged was a barrier in accessing loans and the effect of bank relations was sound financial management for the SME’s operations. The paper suggests the need for small enterprise owners in the rural communities to form an association for their benefit in terms of taking advantage of group lending and demanding support and relief from relevant authorities. Improved institutional support would also give small enterprises better access to the information they need for financing and growth.
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Coleman, Martha, and Daniel Odei Okyere. "Financing Small Scale Oil Palm Producers in the Western Region of Ghana-Ahanta West District." Business and Economic Research 6, no. 1 (2016): 272. http://dx.doi.org/10.5296/ber.v6i1.8808.
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<p class="ber"><span lang="EN-GB">Business finance has been a major problem facing most businesses, both the small and large companies as well as the medium ones. Small and Medium Scale Enterprises (SMEs) are no exceptions of the problems faced by businesses. These enterprises are mostly managed by low income earners. Some of these enterprises cannot grow into large companies because of lack of funds. The objectives of the study are to identify the various forms of funds available to SMEs in the oil palm producing sector of the Ahanta West District of the Western Region of Ghana, find out the funds that have been actually accessed by oil palm producers in the Ahanta West District, and identify some other means of financing the oil palm production. The study revealed that majority of oil palm producers in the Ahanta West District finance their operation with personal savings and have not accessed any loan from the banks.<strong></strong></span></p>
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Adzroe, Erik, and Bankole Awuzie. "Leveraging e-business technology for construction procurement improvement: Qualitative perspectives from Ghana." International Journal of Construction Supply Chain Management 8, no. 1 (2018): 43–59. http://dx.doi.org/10.14424/ijcscm801018-43-59.
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e-Business technology adoption within the Ghanaian construction context has been described as abysmal, particularly among Ghanaian construction micro and small businesses (GCMSBs). Elucidating the salience of e-business technology in engendering construction procurement improvement, this study focuses on the development of capability within GCMSBs to engage with, and benefit from, the adoption of such technologies. The study adopts a qualitative multi-case study research design. Consequently, three (3) projects were selected based on pre-determined case selection criteria. Forty-five (45) interviewees were recruited from the projects and government agencies in a manner suggestive of purposive sampling. Excerpts from the interview sessions were transcribed and subsequently, analysed through thematic analysis. Findings confirmed that the absorptive capability of GCMSBs were indeed at a low level due to inadequate training and education, and; non-investment in capability development. A conceptual model to facilitate the adoption process in GCMSBs was proposed. These findings, as epitomized in the conceptual framework, contribute to the burgeoning discourse on the development of innovative capabilities within Micro and Small businesses in the construction industry in developing economies. Furthermore, this study highlights the positive influence of the adoption of e-business technologies on the capacity and capability of GCSMBs. Such improvements on the part of these firms through the framework will translate into optimal working relationships between them and foreign construction firms working within the local Ghanaian context. And, through such relationships, foster growth within these GCSMBs.
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Asiedu, Elvis. "Transnational Entrepreneurship & Ghanaians Abroad: What are the Motives? A Case Study in Europe and United States of America." International Journal of Social Sciences and Management 4, no. 3 (2017): 210–22. http://dx.doi.org/10.3126/ijssm.v4i3.17262.
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Using data collected from Ghanaians living in the United Kingdom, and the USA; this research examined the motives that drive the performance of transnational entrepreneurship, the mobility involves and why such businesses normally fail. The study was conducted in 2013-2017; with a population size of 120 Ghanaians living in the UK and the USA. The objective was to find out what really drives the performance of these entrepreneurs who operate in a condition where costs may be known but rewards are uncertain, yet they are motivated. The research employed both deductive and exploratory approach and the methods were both primary and secondary. The study focused on small-scale entrepreneurs who run their businesses through personal social connections.The general results show that though individuals motives for seeking self-employment are diverse and numerous; and differ on certain points. However, there are some basic motives common to all and that is majority of the respondents with the average score of 63.3% supported that Economic Mobility, Financial Independence, Success Perspective, and Social Factors, are the most driven factors for the engagement in transnational entrepreneurship. We discovered that in a small-scale business, where most often do not have the needed managerial capabilities to engage in corporation, trust can be used to avoid loses that might come as a result of someone’s misconduct. We also discovered that the successes of these entrepreneurs are based on attitudinal; the degree of embededdness in the home country; personal and the institutional regulations of the destination countries. The results found that Ghana Transnational Entrepreneurs (GTE) are more into Merchandising Business with (59.21%) as compared to Service Business (34.21%) and Manufacturing Business (10.53%); and such businesses are managed and run mostly by their families (59.21%). Ashanti Region of Ghana was spotted to be more involved in doing business with 52.63%. Int. J. Soc. Sc. Manage. Vol. 4, Issue-3: 210-222
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Kusi, Anthony, Christian Narh Opata, and Tettey-Wayo John Narh. "Exploring the Factors That Hinder the Growth and Survival of Small Businesses in Ghana (A Case Study of Small Businesses within Kumasi Metropolitan Area)." American Journal of Industrial and Business Management 05, no. 11 (2015): 705–23. http://dx.doi.org/10.4236/ajibm.2015.511070.
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AGYAPONG, AHMED, HANNAH VIVIAN OSEI, and SAMUEL YAW AKOMEA. "MARKETING CAPABILITY, COMPETITIVE STRATEGIES AND PERFORMANCE OF MICRO AND SMALL FAMILY BUSINESSES IN GHANA." Journal of Developmental Entrepreneurship 20, no. 04 (2015): 1550026. http://dx.doi.org/10.1142/s1084946715500260.
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The study examines the mediating role of competitive strategies (cost leadership and differentiation) in the marketing capability-performance relationship using data from 264 micro and small family firms in Ghana. The bootstrap method for exploring mediating relationships was used to examine the hypotheses. The findings indicate that although differentiation influence performance, cost leadership does not influence performance after controlling for firm age and firm size. However, marketing capability significantly influence performance. The findings further revealed that marketing capabilities do not have any indirect relationship on performance through cost leadership. However, the results indicated that marketing capability influenced firm performance through differentiation strategy. The findings indicate the need to implement both competitive strategy and marketing capability to enhance performance of micro and small family businesses.
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Agyapong, Ahmed, and Abdul Samed Muntaka. "Strategic Planning And Performance Of Businesses In Ghana: A Comparative Study Of Micro, Small, And Large Firms." International Business & Economics Research Journal (IBER) 11, no. 11 (2012): 1261. http://dx.doi.org/10.19030/iber.v11i11.7373.
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Over the last three decades, numerous studies have been conducted on the relationship between strategic planning and organizational performance; all these studies have yielded inconclusive results. This article investigates this relationship using data from micro, small, and large firms operating in a developing economy. The results suggest that the planning-performance relationship is positive and very significant in micro level firms where strategic planning approximates disequilibrium. In small firms, we found that this relationship was positive and moderately significant. In large firms where strategic planning approximates equilibrium, however, the planning-performance relationship was positive but not significant. Accordingly, we present a new dimension to the strategic-planning-performance debate and suggest that the relationship differs on the basis of the firms level/size and economic environment.
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Akoto, Dickson. "Assessing the Significance of Auditing Small Businesses and Organisations; a Case Study of Selected Organisations in Ghana." International Journal of Accounting, Finance and Risk Management 6, no. 2 (2021): 46. http://dx.doi.org/10.11648/j.ijafrm.20210602.12.
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Ali, Rabi Sidi. "Determinants of female entrepreneurs growth intentions." Journal of Small Business and Enterprise Development 25, no. 3 (2018): 387–404. http://dx.doi.org/10.1108/jsbed-02-2017-0057.
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PurposeThis paper seeks to find factors that influence the growth intention of female-owned small businesses in the Ghana’s tourism sector. The purpose of this paper is to investigate why some female entrepreneurs achieve growth objectives while others do not.Design/methodology/approachIn this study, the authors seek to understand the growth intention within the tourism sector because it is not clear why some female entrepreneurs in Ghana pursue growth. The study applies quantitative techniques. A questionnaire survey was conducted with 110 female tourism entrepreneurs in Ghana. Data analysis was conducted using the non-parametric procedures of Spearman’s rank correlation.FindingsThe findings of this research reveal that female tourism entrepreneurs in Ghana feel they can expand without entrepreneurial ability(ies). However, the growth of the venture is restricted by the lack of financial resources. Opportunities in the tourism sector do generate more customers, but cannot alone determine growth intentions. Furthermore, an important finding of this study is that business advisory services do not contribute significantly to the growth intention of the venture. The research made clear that the pursuance of growth is related to different types of opportunities and finance leveraging.Research limitations/implicationsThe study has gender-specific, industry-specific, size-specific and region-specific limitations. Another limitation is focus on entrepreneurial ability, opportunity and business advisory support services as determinants of female entrepreneurs’ growth intention.Practical implicationsThis study provides useful information for government, business agencies and academics seeking reasons on why female entrepreneurs have low growth intentions. Policy measures are provided in assisting women in achieving their growth aspirational needs and suggestions are recommended to encourage women to grow their small tourism businesses.Social implicationsThe research will contribute to improve the socio-economic status of women entrepreneurs in Africa.Originality/valueThis paper addresses an under-researched area of female tourism entrepreneurs and their growth intention from the perspective of a developing country such as Ghana.
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Lim, Setiadi Alim, and Galuh Artika Febriyanti. "PENCATATAN DATA TRANSAKSI KEUANGAN PADA USAHA MIKRO DAN KECIL: STUDI KASUS DI KAMPUNG ROTI SURABAYA." Jurnal Bisnis Terapan 1, no. 02 (2018): 33–46. http://dx.doi.org/10.24123/jbt.v1i02.793.
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Research from Dawuda and Azeko (2015) in Bolgatanga Municipality, Ghana found that 75% of small businesses do not record financial transactions and only 25% have recorded financial transactions. This study aims to examine whether 75% of micro and small enterprises such as the findings of Dawuda and Azeko (2015) do not record financial transaction data. In addition, it will also be examined whether the recording of financial transactions data according to micro and small enterprises is useful or not to measure business performance, the need to apply for credit and tax purposes. The object of research is micro and small business in Kampung Roti, Surabaya. From population of 65 micro and small enterprises in Kampung Roti, Surabaya taken 38 micro and small enterprises as sample. The results showed that 75% of micro and small enterprises did not record financial transaction data. According to 75% of micro and small enterprises recording financial transaction data does not provide benefits to measure business performance, the need to apply for credit and tax purposes. There is a relationship between the decision of micro and small enterprises to do or not to record financial transaction data with measuring business performance, the need to apply for credit and tax purposes.
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Amponsah, Richard, and Gordon Kanyoke. "Determinants of Financial Failure in Ghana." International Journal of Risk and Contingency Management 3, no. 1 (2014): 76–94. http://dx.doi.org/10.4018/ijrcm.2014010105.
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Most countries in the world were negatively impacted by the USA financial crisis of 2008. In 2010-2012 people have seen economic failures of Greece and Iceland impact the European Union and other countries. Interestingly, the factors which caused the financial industry failures in these developed nations were not identical; nonetheless, the results were similar: severe economic recession. It is important to better understand the financial predictors and best-practices for developed and emerging nations in other countries, particularly outside USA and the European Union - namely Africa. Businesses in Ghana (and the continent of Africa) make a significant economic contribution to the global Gross Domestic Product (GDP), which is important to study because their financial activities impact many countries, since our global economic systems have become interconnected. This study examined a large bank in Ghana (a country located on the north-west coast of Africa, to empirically identify problems and to propose solutions to improve financial policies associated with Small-to-Medium-Sized-Enterprise (SME) industry - who are the key contributors to national GDP. A statistically significant probit logistic model was developed using a mixed-method approach which also included a qualitative SWOT analysis. The results indicated that the critical socio-economic success factors of financial success versus failure for SME businesses were: age of owners, company size, total income, and quality of hired labour. The secondary factors were institutionally-related: organisational structure, credit policies, inadequate technology platform management, ineffective monitoring of SMEs, and weak economic recovery strategies. Recommendations were made to improve national economic policies for the banking industry in Ghana, based on this model.
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Arhin, Solomon. "The narrow and broad argument of microfinance impacts on small- and medium-sized enterprises in Ghana." International Journal of Learning and Teaching 11, no. 4 (2019): 118–27. http://dx.doi.org/10.18844/ijlt.v11i4.4320.
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Microfinance has become a popular and fashionable word in financial and development circles. In practice, the term was often used more narrowly to refer to loans and other services from providers that identify themselves as microfinance institution. Indeed, the concept of microfinance was not new in Ghana. Microfinance plays a very crucial role in the area of addressing the market failures with regard to the provision of financial services to the low-income customers who until recently were receiving little or no help from the conventional financial service providers. This study examines the impact of microfinance on the operations of small- and medium-scale industries in Ghana – focusing on Tafo area of Ashanti region. The study uses sampling size of 91 clients. Data were collected through questionnaire. The findings reveal that most of the microfinance clients take loans to expand their personal businesses. The study recommends an effective monitoring system to be put in place to correct the poor collection mechanism that is currently facing the firms.
 Keywords: Microfinance, small- and medium-sized enterprises, Tafo district
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Mintah, S., and S. Darkwah. "Drivers of Informal Sector Participation of Small and Medium Enterprise in Ghana." Scientia Agriculturae Bohemica 49, no. 1 (2018): 60–67. http://dx.doi.org/10.2478/sab-2018-0010.
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Abstract The informal sector of Ghana has been growing amidst the recent economic development in this country. The study investigated the drivers of informal sector participation by SMEs in Ghana and made use of a Chi-square statistical methodology to analyze the drivers of SME participation in the informal sector of Ghana. Analyses from the study showed that gender can be deemed as a driver for SME participation in the informal sector of Ghana. Gender was significant at 0.012 with registration of business enterprise and 0.055 with tax obligation of respondents. The educational level of SME operators had an impact on registration and tax obligation and therefore can be deemed as a driver of SME participation in the informal sector of Ghana. However, the level of education was insignificant to registration and tax obligation but had a strong correlation to these variables. The study also showed that women are more likely to participate in the informal sector of Ghana as compared to men and also that there is a high tendency of not paying tax among SME operators in the informal sector of Ghana. A very low educational level among SME participants was recorded with over 60% of the respondents not having any formal education. Based on the findings of the study, a country-wide research can be done to ascertain the socio-economic determinants of informal sector participation in Ghana. Also, the study highly recommends policies that can harness the usefulness of informal sector.
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Enu-Kwesi, Francis, Maria-Antoinette Adriana Quarshie, and John Victor Mensah. "Enhancing access to institutional financial support for small and medium enterprises in the Sekondi-Takoradi metropolis of Ghana." Journal of Business and Enterprise Development 7, no. 2017 (2017): 22–41. http://dx.doi.org/10.47963/jobed.2017.02.
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This paper discusses the factors which affect access to financial support by small and medium enterprise (SMEs) in Sekondi-Takoradi. Financial resources are crucial in the life of all businesses including SMEs. However, access to financial support comes with the problems of information asymmetry, moral hazard and adverse selection. The factors that influence access to financial support are investigated using a non-interventional cross-sectional study design. Quantitative data were collected from 303 randomly selected SMEs using interview schedules, while qualitative data, using an interview guide, were obtained from 21 institutions offering financial support to SMEs in Sekondi- Takoradi. With the use of interpretations of the qualitative data, and descriptive statistics including cross tabulations, the results showed that interest rates, collateral, guarantors and, business and financial information, and financial literacy play a role in the access of institutional financial support by SMEs.
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Owusu, Joseph, Mohammad Bin Ismail, Mohd Hassan Bin Mohd Osman, and Garry Kuan. "Financial literacy as a moderator linking financial resource availability and SME growth in Ghana." Investment Management and Financial Innovations 16, no. 1 (2019): 154–66. http://dx.doi.org/10.21511/imfi.16(1).2019.12.
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The argument holds that visionary and dynamic small and medium enterprises (SMEs) tend to position growth at the centre of strategy. However, there has been a growing body of literature that has examined how financial literacy can support owner-managersof SMEs in making solid financial decisions that will enhance the growth of their businesses. In the present study, financial literacy and financial resource availability were modelled as different antecedents of SMEs growth. Nevertheless, the boundary condition for such models has received very little attention in the context of Ghana. Accordingly, in regard to resource-based view (RBV) logic, the current research examined the implications of contingency variable financial literacy (proficiency) on the relationship between financial resource availability and SMEs growth, particularly in the context of Ghana. The findings of the current research revealed that high financial literacy led to more positive effect of financial resource availability on SMEs growth.
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Vitor, Dadson. "Women Participation in Microcredit and Its Impact on Income: A Study of Small-Scale Businesses in the Central Region of Ghana." American Journal of Experimental Agriculture 2, no. 3 (2012): 502–15. http://dx.doi.org/10.9734/ajea/2012/1127.
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Abor, Joshua, and Nicholas Biekpe. "SMEs' Access to Debt Finance." International Journal of Entrepreneurship and Innovation 7, no. 2 (2006): 105–12. http://dx.doi.org/10.5367/000000006776928627.
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This study compares the use of external debt finance by male-and female-owned small and medium-sized enterprises (SMEs) in Ghana to determine whether female-owned firms are less likely to use debt as a source of financing their operations. The results indicate that the capital structure of SMEs is influenced by the legal form, location, size, age and profitability of the firm and the educational background and gender of the entrepreneur. They also suggest that female-owned SMEs are significantly less likely to employ debt finance. The findings seem to support the notion that there is adverse discrimination in the lending process, placing women at a disadvantage. Females may not be able to penetrate informal networks as well as males, which clearly could affect their ability to gain access to useful information and sources of capital. Also, female-owned firms tend to be small sole-proprietorship businesses; thus, they may lack the necessary collateral to qualify them for debt finance. There is generally high conformity in the results of this study with similar studies in other parts of the world. Recommendations are given to help promote female-owned SMEs in Ghana.
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Yeboah, Augustine Kwadwo. "Drivers of Savings Account Ownership Status: A Cross-Sectional Analysis from Ghana." Journal of Social and Development Sciences 10, no. 1(S) (2019): 51–60. http://dx.doi.org/10.22610/jsds.v10i1(s).2810.
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In view of the evidence that poor savings can inhibit investment decision by borrowers of surplus funds, and that countries with well-established and efficiently utilised financial services have considerably less poverty, the study examines factors influence saving account ownership in Ghana using econometric approach. We used empirical evidence with data sourced from informal market traders in selected major market centres in Ghana. Using probit regression analysis, the results suggest that financial educations, number of income-generating ventures engaged in by the market trader are major predictors of savings account ownership status. Other predictors include demographic characteristics such as gender, age, marital status and number of dependents. It is, therefore, recommended that banks and financial institutions should intensify financial education strategies to boost savings mobilization. Government’s policy intervention should be directed towards informal sector enterprise development to the crowd in revenue in order to motivate decisions to save. Also, the National Board for Small Scale and informal Businesses in Ghana should intensify education on how to sustain diverse income generation ventures to fetch income from multiple sources in order to encourage behavioural intentions to save.
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Donkor, Jacob, George Nana Agyekum Donkor, Collins Kankam-Kwarteng, and Eunice Aidoo. "Innovative capability, strategic goals and financial performance of SMEs in Ghana." Asia Pacific Journal of Innovation and Entrepreneurship 12, no. 2 (2018): 238–54. http://dx.doi.org/10.1108/apjie-10-2017-0033.
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Purpose This paper aims to investigate the moderating role of innovation capability and strategic goals in the financial performance of small- and medium-scale enterprises (SMEs) in Ghana. Design/methodology/approach Innovative capabilities and strategic goals in SMEs and their influence on financial performance were recognized and briefly debated according to the existing literature. Hypotheses were tested on research data on 340 SMEs in Ghana, which were conveniently selected. Finally, quantitative analysis was done, followed by a discussion of the research findings. Findings Results from the study have proved that strategic goals have a strong positive relationship with financial performance. Also, there is a strong, positive and highly significant impact innovative capacity has on financial performance. Finally, the study found that innovative capability moderates the relationship between strategic goals and financial performance. It showed that at high levels of innovative capacity, high levels of strategic goals boost financial performance massively. Research limitations/implications The findings are limited to SMEs in Ghana. Researchers should study why SMEs may not pursue any innovation capability activities as they have positive impact on their financial performance. They may also focus on strategic goals and financial performance. Practical implications The study shows a necessity for longer-term innovation perspectives and a higher level of the importance of the application and assessment of strategic goals. Business owners and caretakers need greater awareness about the importance of innovation capability and strategic goals and their influence on the overall financial performance of SMEs. This will help them to adopt right innovate procedures for their businesses. Originality/value One of few research works to examine innovation capability and strategic goals on the financial performance of SMEs in a developing country.
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Obeng, Bernard Acquah. "Strategic networking and small firm growth in an emerging economy." Journal of Small Business and Enterprise Development 26, no. 1 (2019): 43–66. http://dx.doi.org/10.1108/jsbed-01-2018-0035.
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PurposeThe purpose of this paper is to explore the sources and use of social capital on small firm growth in an emerging economy. The study also examines the relationship between small firms’ human capital, internal resources and strategy on social capital sources used, and their impact on small firms’ growth in employment.Design/methodology/approachThe study uses logistics regression and structural equation modelling to analyse data gathered from 441 small firms located in six regions of Ghana where approximately 81 per cent of all businesses are found.FindingsAmong the 16 sources of social capital examined, customers were found to be the most used source and the only social capital source that showed significant statistical association with firm growth in employment. Also, the study revealed that human capital, firm resources and strategy variables such as educational level of the owner-manager, firm size, location, firm involvement in internalisation and innovation are statistically significant with social capital sources such as accountants, banks, solicitors, business associates and chamber of commerce.Research limitations/implicationsThe findings of the study have implications for policy and practice in situations where government and private sector institutions mandated to support enterprise development appear to be the least social capital sources used by small firms. The findings also provide a better understanding of the use and impact of social capital sources on small firm growth in an emerging economy in Africa.Originality/valueThis study appears to be the first known research on small firms’ social capital that has examined 16 different social capital sources and shown how human capital, internal resources and firm strategy have influenced the use of social capital sources by small firms in an emerging economy.
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Angsoyiri, Dramani, and Anthoinette Ativor. "Potential for the Application of the Emerging Market Z-score Model in the Case of Listed Banks in Ghana." International Journal of Business, Technology and Organizational Behavior (IJBTOB) 1, no. 2 (2021): 85–97. http://dx.doi.org/10.52218/ijbtob.v1i2.13.
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The primary goal of the research is how to put into operation the emerging market (EM) Z-score model in predicting corporate failure and to evaluate financial performance through the analysis of the annual audited report of four quoted banks in Ghana. More so this research introduces the Z-score model in this sector as a tool for possible diagnostic behind financial performance and deterioration. The method used in this research is primarily based on the EM Z-score model developed by Altman. The approach used in this research is in line with previous research that upholds the Z-score model with 80 percent prediction accuracy. These previous researchers confirm that it is a robust instrument that helps in predicting and assessing the overall performance of companies financially and possible distress of corporate organizations given that it consists of numerous ratios financially which can be utilized to predict business liquidation, financial distress, and corporate failure. The method set up in this research is to study the annual report of banks quoted on the Ghana Stock Market by computing their Altman emerging market Z-score ratio for three years that is from 2016 to 2019 and comparing it with 2019 which is the current year emerging market Z-score ratio to evaluate the whole performance of the banks financially as well as the possibility of liquidation of banks quoted on the Ghana Stock Market. The research establishes that banks in Ghana should work hard on enhancing the Z-score ratios which are dragging the emerging market Z-score down to better comprehend the earlier period performance and to realize their current situation in the sector; the Z-score can be adopted by banks in Ghana as an effective and efficient assessment approach towards the financing the possible long joint venture projects encompassing Small and Medium businesses enterprises. This model was adopted by banks in Ghana as an autonomous credit hazard examination approach to appraising the financial strength and competencies of potential projects. It was ascertained from this research that the Altman emerging market Z-score ratio model is an applicable model for measuring the performance of quoted banks in Ghana. Limitation including the Ghanaian banking sector is still considered to be a small size that may have negative consequences on the maximum result of the research. Future research should be conducted towards updating coefficient value associated with every ratio in the Altman emerging market Z-score ratio model as per the inputs from the banks in Ghana
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Quartey, Joyce Ama, and Bernice Kotey. "Effect of Regulation on Outreach of Microfinance Institutions in Ghana." International Journal of Accounting and Financial Reporting 9, no. 1 (2019): 317. http://dx.doi.org/10.5296/ijafr.v9i1.14405.
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Microfinance institutions (MFIs) play an important role in enhancing the growth potential of small businesses. However, while regulation ensures that MFIs are financially sustainable, compliance compels them to make large-sized loans to wealthy clients in order to reduce the risk of lending and minimize administrative costs, a situation that compromises their main goal of reaching out to the poor. The study therefore, examined the effect of regulation on breadth and depth of outreach by microfinance institutions (MFIs) in Ghana. The purpose of the study is to find out whether regulation has enabled MFIs to increase their outreach (breadth and depth) thereby improving their sustainability. A mixed methods research design was employed, involving initial hypotheses testing with 31 self-regulated and 24 Central bank-regulated MFIs. The findings were then triangulated with a qualitative research design involving 13 Central bank-regulated and 20 self-regulated MFIs. The results showed that regulations increased the client base of MFIs but reduced the percentage of poor clients served, largely women. It is recommended that the government set up a fund for poor clients to be accessed by well-performing MFIs for provision of financial services to the poor to assist in poverty reduction.
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Dansoh, Ayirebi, Daniel Oteng, and Samuel Frimpong. "Innovation development and adoption in small construction firms in Ghana." Construction Innovation 17, no. 4 (2017): 511–35. http://dx.doi.org/10.1108/ci-07-2016-0040.
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Purpose The purpose of this research is to identify the conditions under which the internal environment of small construction firms makes them either develop or adopt an innovation. Design/methodology/approach The research described in this paper adopted a qualitative case study approach. The data were obtained from multiple sources such as face-to-face semi-structured interviews with company representatives and from project reports. Findings The study identified that firms’ decision to either adopt or develop an innovation is determined by a complex interaction between their internal environment and 12 different conditions. Some of the findings contrast widespread perceptions in broader literature on innovation development and adoption in small construction firms. Research limitations/implications The study focused only on firms from two regions in Ghana. Additionally, adopting a purely qualitative approach meant that the quantitative impacts of the different factors were not presented. Practical implications The results can inform the decisions of agencies and persons wishing to invest their resources in innovation activities of small construction firms. It can also inform the policy debate and directions of government and industry associations looking to create innovation-friendly environments in the small business sector. Originality/value This research provides a better understanding of innovation development and adoption by small construction firms. Given that there is little previous research on innovation by small construction firms, especially in developing economies, the paper complements existing studies that generally focus on much larger firms and developed economies.
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Osei Mensah, James, Kwasi Ohene-Yankyera, and Robert Aidoo. "Determinants of response of street food entrepreneurs in Ghana to business management training." Journal of Agribusiness in Developing and Emerging Economies 8, no. 2 (2018): 391–405. http://dx.doi.org/10.1108/jadee-01-2016-0006.
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Purpose Considering the fact that business management training has the potential to improve performance of micro and small enterprises, it is surprising why participation rates in most freely offered management training courses remain low. The purpose of this paper is to explore factors that determine an invitee’s decision to participate in a capacity building management training for street food entrepreneurs in Ghana. Design/methodology/approach Using data from a baseline survey, the study invited 314 street food entrepreneurs, selected through a stratified random technique from a list of 516 eligible food entrepreneurs. Training participants were invited to the programme through official invitation letters which were hand-delivered. Data on reasons for non-participation were collected either through phone interviews or on-site visit when a vendor could not be reached on phone. Descriptive statistics were used to summarise characteristics of vendors and businesses as well as reasons for non-participation while probit model was used to estimate determinants of participation. Findings The study found that whereas vendors with higher formal education better appreciate the benefits of education and training, their counterparts with fewer years of schooling do not. The latter’s perceived knowledge deficiencies appear to explain the difference in participation rates. Also, total workforce does not necessarily increase the probability of participation, especially when there are no trusted workers in the business who will take over critical activities such as handling of finances in the absence of the owner. The study also found that distance between vending premises and training centres had significant negative effects on vendors’ participation in the training programme. Research limitations/implications The external validity of the study findings and conclusions may not be limited to all informal sectors of the developing economies due to high degree of heterogeneity of the informal economy. Originality/value The study focusses on an informal sector in developing country dominated by women. The study focusses on understanding informal entrepreneurs’ response to formal training.
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Agyapong, Daniel. "Analyzing financial risks in small and medium enterprises: evidence from the food processing firms in selected cities in Ghana." International Journal of Entrepreneurial Behavior & Research 27, no. 1 (2020): 45–77. http://dx.doi.org/10.1108/ijebr-05-2020-0269.
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PurposeThe purpose of the paper was to analyze the financial risk perception of owners/managers and to link such perception to the performance of their ventures.Design/methodology/approachThe paper employed PLS-SEM to analyze financial risks and its impact on SMEs in the food processing sector. Financial risks data on the operational, market, technological, credit and liquidity risks and financial performance including compliance, social and resource efficiency performance were collected from 214 food processors in selected cities in Ghana. Higher-order constructs were employed in assessing the relationship between financial risks and SME performance.FindingsFinancial risk spurs a firm's financial performance. Increased financial risks cause firms to be resource-efficient and compliant. Furthermore, an assessment of how the various performance indicators interplay showed increased compliant improved social performance and vice versa.Research limitations/implicationsThe paper looked at food processing firms in three major cities, analyzing the financial risks of the businesses and their effect on their performance. Although, these cities have the largest number of these firms, generalizing the findings from the study should be done taking into consideration the scope of the study.Practical implicationsThe study exposes owners/managers to the critical issues of financial risk, its components and how this could impact on their operations. It expected that owner/managers in the food processing sector would craft the necessary risk mitigating strategies to deal with the different financial risks they face. For theoretical implication, the paper suggests the need to highlight the risk exposure of firms due to the business–stakeholder interactions as contained in the stakeholder theory.Originality/valueThe paper employed the higher-order construct of PLS-SEM to analyze the financial risks of food processors. The originality of the paper lies with the methods used.
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Dzisi, Smile, and Christopher Selvarajah. "Innovation and the Success of Women's Small Scale Enterprises in Ghana." International Journal of Technology and Management Research 1, no. 1 (2020): 1–11. http://dx.doi.org/10.47127/ijtmr.v1i1.2.
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Innovation is fast becoming a crucial factor in enterprise performance, growth and survival. In recent years, a growing number of studies have demonstrated how innovation leads to success in larger enterprises. Literature addressing innovation in small enterprises in developing countries is limited; most studies in this field are from developed countries. This study therefore aimed at filling the gap by firstly, exploring the innovations introduced in the Ghanaian women-owned small enterprises, and secondly finding out the relationship between these innovations and the women's business success. The innovative practices explored were the introduction of new products and processes, identification of new sources of raw materials and new markets. Quantitative and qualitative approaches are combined in data collection and analysis. Data has been obtained from a survey of 421 Ghanaian women entrepreneurs and interviews conducted with 50 of those women. The results in the study indicated that the small enterprises engaged in various types of innovative practices such as the adoption of fuel efficient processing methods, diversification of product line, improved packaging and opening of new market outlets. These innovative practices have contributed to the success of the enterprises. Their success factors include self-fulfillment, wealth creation and positive impact on the Ghanaian economy. These findings have policy implications for improved technology and funds allocation to enhance women's role in economic development.
 Keywords: Innovation; Business growth; Women-owned small enterprises; Schumpeter's entrepreneurship perspective.
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Boakye, Alfred Asuming, Richard Ampadu-Ameyaw, George Owusu Essegbey, and Justina Adwoa Onumah. "SUCCESS FACTORS FOR MICRO AND SMALL AGRIBUSINESS ENTERPRISES (MSES) – THE CASE OF GHANA." Journal of Agribusiness and Rural Development 47, no. 1 (2018): 6–12. http://dx.doi.org/10.17306/j.jard.2018.00406.
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Micro and Small Enterprises (MSEs) are consideredto be engines of economic growth worldwide. Their efficiencyand competitiveness is critical to the creation of employment,income generation and poverty reduction and thereby to generalgrowth of the economy. However, studies on MSEs inGhana have mainly focused on the financial performance withlittle or no attention paid to the contribution of environmentaland socio-demographic factors to entrepreneurial success.The data for this study was obtained from Micro and SmallEnterprises (MSEs) in some twenty districts across Ghana.A total of 2899 entrepreneurs were interviewed. A binary logitregression was used in determining the impact of socio-demographicand environmental factors on entrepreneurial businesssuccess. As shown by the results, the odds of business successincrease by 67% if the formal education period is extendedby one year. Supportive environmental factors also significantlycontribute to business success. This study recommendsa policy that will help improving access to market for MSEs.Policy makers should consider strengthening the potential ofinstitutional support in terms of market information deliveredby public institutions to enhance the business success of agribusinessentrepreneurs in Ghana.Micro and Small Enterprises (MSEs) are consideredto be engines of economic growth worldwide. Their efficiencyand competitiveness is critical to the creation of employment,income generation and poverty reduction and thereby to generalgrowth of the economy. However, studies on MSEs inGhana have mainly focused on the financial performance withlittle or no attention paid to the contribution of environmentaland socio-demographic factors to entrepreneurial success.The data for this study was obtained from Micro and SmallEnterprises (MSEs) in some twenty districts across Ghana.A total of 2899 entrepreneurs were interviewed. A binary logitregression was used in determining the impact of socio-demographicand environmental factors on entrepreneurial businesssuccess. As shown by the results, the odds of business successincrease by 67% if the formal education period is extendedby one year. Supportive environmental factors also significantlycontribute to business success. This study recommendsa policy that will help improving access to market for MSEs.Policy makers should consider strengthening the potential ofinstitutional support in terms of market information deliveredby public institutions to enhance the business success of agribusinessentrepreneurs in Ghana.
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Ayiku, Andrews, and E. Stephen Grant. "Entrepreneurial Marketing Skills and Small-Scale Business Performance: The Case of Ghana." Journal of Comparative International Management 24, no. 1 (2021): 43–60. http://dx.doi.org/10.7202/1081421ar.
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The development of SMEs serves as a tool for creating employment opportunities in developing countries. SME growth can be attributed to how owners and managers use entrepreneurial marketing skills in their day-to-day operations. A quantitative study was used to gain an understanding of the application of marketing skills in SMEs and the development of SMEs in Ghana. Findings indicate that entrepreneurs acquire marketing skills during their years of operation, however, these skills are not in tune with modern business trends and market competition. Establishing marketing departments and equipping business owners with marketing skills enables their ability to deal with volatile consumer demands. Likewise, requisite marketing skills enable market understanding, new marketing approaches, and the design of demand driven products and services
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Atiase, Victor Yawo, Samia Mahmood, and Yong Wang. "Does institutional logic matter in microfinance delivery? An empirical study of microfinance clients." International Journal of Entrepreneurial Behavior & Research 26, no. 2 (2019): 177–202. http://dx.doi.org/10.1108/ijebr-10-2018-0713.
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Purpose From an institutional theory perspective, the purpose of this paper is to investigate the combined impact of financial capital (microcredit) and human capital development (entrepreneurship training) delivered by financial non-governmental organisations (FNGOs) on the performance of micro and small enterprises (MSEs) in Ghana. Design/methodology/approach Adopting a multiple linear regression analysis, the study used primary data collected from 506 Ghanaian MSEs. Microcredit was measured using four main constructs, namely, loan cost, loan amount, the flexibility of loan repayment and loan accessibility. Entrepreneurship training was measured using four main constructs, namely, training content, training efficiency, training frequency and training accessibility. MSE performance was also measured using three main indicators, namely, sales, employment and profitability growth. The study controlled for business age, industry category, manager’s educational level and gender. Findings The results of this study show that the combined delivery of financial and human capital development by FNGOs has a significant impact on MSE performance. The social welfare logic adopted by FNGOs seems to be legitimate to the needs and growth of MSEs in Ghana. However, the cost of microcredit remains a drawback, constraining the performance of MSEs in Ghana. Research limitations/implications This study was carried out in the Volta Region, which is one of the ten regions of Ghana. Even though the sample size suffices, the findings from this study could not be generalised to the whole of Ghana. Also, this study is a quantitative study and could benefit from a triangulated method where the qualitative inputs could offer insights into the findings in this study. Originality/value Theoretically, this study contributes to the understanding of institutions and the type of impact they have on the growth of MSEs. Practically, the provision of a conducive environment and access to financial capital is crucial to the growth of MSEs. Also, the adoption of the social welfare logic in microfinance delivery could be one of the major steps in promoting the performance of MSEs in Ghana.
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Nyukorong, Remy, and William Quisenberry. "Character Traits Of Effective Executives: A Phenomenological Study Of Ceos In Ghana." European Scientific Journal, ESJ 12, no. 20 (2016): 69. http://dx.doi.org/10.19044/esj.2016.v12n20p69.
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Leadership in organizations has been widely studied in the literature. However, scant research could be found exploring the critical personality characteristics business executives need to have in order to lead corporate organizations more effectively. This qualitative, phenomenological study was designed to investigate the lived experience of top-level business leaders in leadership roles. Ten Chief Executive Officers of Ghana Club 100 were interviewed and told their experience as leaders. The email and face-to-face interview transcripts were coded and analyzed for themes. The following personality attributes emerged from the study which were found to support and promote strong executive effectiveness: integrity, forward-looking, selfconfidence, emotional intelligence and maturity, and caring for others. The study significance provides information to Board of Directors of Ghanaian Corporations in the selection, promotion, and training of executive-level managers, and potentially lower the costs associated with losing highpotential executive leaders. The study findings could also help business schools and management consultants to focus better on preparing business leaders for the future. A major limitation of the study was the small sample size, which may require caution in generalizing the findings to the entire population. The current study is one of the first to be carried out in Ghana on leader personality traits.
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Spio-Kwofie, Adelaide, Hu Xuhua, Michael Addai, and Henry Asante-Antwi. "Improving Entrepreneurial Innovations for Sustaining Small Medium Hospitality Industry Growth in Ghana." JOURNAL OF ADVANCES IN HUMANITIES 5, no. 1 (2017): 224–28. http://dx.doi.org/10.24297/jah.v5i1.6460.
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This study talks about improving entrepreneurial innovations of small medium hospitality industry (SMHI) in other to sustain it growth in Ghana. Successful stories about SMEs exist but are rare and this causes pauses for concern. Many researchers have established that innovations bring several benefits in countries that are industrialized. Responses from SMHI managers/owners indicate they totally agree small medium hospitality industry is better in relation to one's determination to introduces new service styles and product, good customer service, innovative in selling/ marketing and confidence in trying new service styles. We therefore, recommend management step up their innovative abilities by taking pride in customer needs /customer satisfaction as this will earn small medium hotels new and repeat customers in a highly perishable and competitive business environment.
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Atiase, Victor Yawo, Yong Wang, and Samia Mahmood. "FNGOs and financial inclusion: Investigating the impact of microcredit on employment growth in Ghana." International Journal of Entrepreneurship and Innovation 20, no. 2 (2019): 90–106. http://dx.doi.org/10.1177/1465750319832478.
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Financial non-governmental organizations (FNGOs) are regulated microfinance institutions that operate with a social welfare logic in the delivery of microcredit to the financially excluded in Ghana. The microcredit is aimed at supporting the financially excluded individuals to create sustainable micro and small enterprises (MSEs) for the generation of both skilled and unskilled employment. From the institutional theory perspective, this study aims at investigating the impact of microcredit provided by FNGOs on employment growth among MSEs in Ghana. The major contribution of this study is the fact that, there is a little study on FNGOs and their impact on employment growth in the Ghanaian context. Therefore, this is one of the few studies that highlights the role of FNGOs in promoting financial inclusion through the provision of microcredit for employment generation purposes. Through a multiple regression analysis, the study uses primary data collected from 506 MSEs in Ghana. The results show that microcredit which is flexible in repayment mode, accessible and adequate has a positive impact on employment generation among MSEs in Ghana. However, the current cost of microcredit in Ghana has a negative impact on employment growth among MSEs.
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SACKEY, JOCELYN, YLVA FÄLTHOLM, and HÅKAN YLINENPÄÄ. "WORKING WITH OR AGAINST THE SYSTEM: ETHICAL DILEMMAS FOR ENTREPRENEURSHIP IN GHANA." Journal of Developmental Entrepreneurship 18, no. 01 (2013): 1350005. http://dx.doi.org/10.1142/s1084946713500052.
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The aim of this paper is to address entrepreneurship and ethics from the perspective of the Ghanaian entrepreneur in small and medium-size enterprises to extend our understanding of issues influencing entrepreneurial behavior in developing economies such as Ghana. Our study specifically addresses three typical situations in which business ethics are challenged: (1) When applying for business information and permits, (2) When competing for business contracts and financing and (3) When dealing with tax authorities. Relying on in-depth case-study data from 22 entrepreneurs, the paper conceptualizes entrepreneurial behavior related to business ethics and identifies several important challenges to overcome to enable economies to build a more effective market economy.
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Amoah, John, Abdul Bashiru Jibril, Bayuasi Nammei Luki, Michael Amponsah Odei, and Charles Yawson. "BARRIERS OF SMES’ SUSTAINABILITY IN SUB-SAHARAN AFRICA: A PLS-SEM APPROACH." International Journal of Entrepreneurial Knowledge 9, no. 1 (2021): 10–24. http://dx.doi.org/10.37335/ijek.v9i1.129.
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Undoubtedly, entrepreneurial knowledge is a prerequisite for the survival of every business organization. To this, the contribution of Small and Medium Enterprises (SMEs) in the socio-economic development in most developing economies cannot be underestimated. Both developed and developing countries are living testimonies of their contributions to their nation’s growth and development. However, extant literature shows that as competition and innovation intensify in the global business market, many SMEs in developing countries are constrained by external forces that hinder the sustainability of these businesses. Hence, this paper aims to find out the mitigating factors warranting SMEs’ sustainability from the viewpoint of entrepreneurs and business owners, particularly in the manufacturing sector of Ghana, a Sub-Saharan Africa region. To achieved this objective, the study deployed a simple random sampling technique with 370 valid responses through a structured questionnaire for the analysis. Relying on PLS-SEM (partial least square and structural modeling) with the aid of ADANCO 2.2.1 software version revealed that factors such as financial challenges, technology; market penetration & acceptability; and research & development are barriers facing SMEs sustainability in the Ghanaian manufacturing sector. This study would be beneficial to entrepreneurs and business owners of SMEs in most developing countries and provide deeper insight into the SME literature at large. This study would further strengthen SME entrepreneurs and business owners to fully devise strategies that can help them to override such migrating challenges and equipped them to effectively stay competitive in the long term for the firm’s growth and survival. The limitation and future research directions are equally presented in the paper.
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Nyarku, Kwamena Minta, and Stephen Oduro. "Effect of legal and regulatory framework on SMEs growth in the Accra Metropolis of Ghana." International Journal of Entrepreneurship and Innovation 19, no. 3 (2017): 207–17. http://dx.doi.org/10.1177/1465750317742842.
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Entrepreneurship has been generally recognized as one of the most important dynamics leading to development. However, promoting entrepreneurship depends on an enabling business climate. The study sought to explore the effect of legal and regulatory frameworks on small and medium enterprises (SMEs) growth in Ghana. The study was quantitative and primary data comprised 382 owners who were conveniently sampled for the study. The results were analysed using structural equation model-partial least square. Bureaucracy, unstable policy climate, unfriendly customs and trade regulations, tight monetary and credit policies, corruption, and excessive tax regimes, workforce and labour regulations were found to negatively affect SMEs growth in Ghana. It is concluded that for SMEs growth to thrive, sound legal and regulatory systems are needed. The government must create relaxed credit policies that support the development of entrepreneurship by simplifying loan conditions, ease the registration processes for SMEs, lower and reform the tax systems, engineer effective price stabilization policy and create flexible customs and port regulations, while maintaining transparency and accountability among public officials in charge of SMEs regulation. The study adds to the few works conducted in sub-Saharan Africa, especially in Ghana. The new empirical insights are significant to SME and entrepreneurship development in Ghana.
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Asamany, Anita, and Sun Shaorong. "The Ripple Effects of Performance Management on Employees’Perceptions and Affective Commitment among Small and Medium Scale Enterprises (SMEs)." International Journal of Business Administration 9, no. 1 (2017): 55. http://dx.doi.org/10.5430/ijba.v9n1p55.
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Management literature acknowledges the important role played by performance management systems (PMS) in business organization, however, a little empirical studies exist in the Ghanaian context.Using a sample data of 180 from managements and staffs of thirty-eight (38) Small and Medium Scale Enterprises (SMEs), the current study presents the effects of performance management systems on employees perception and organizational commitment (affective) among Small and Medium Scale Enterprises (SMEs) located in the Greater Accra region of Ghana.Statistical Package for Social Sciences 20.0 version (SPSS) and Microsoft Word 2010 were employed for the data analysis. From the result, performance management had a positive significant relationship with employees’ perceptions and affective organizational commitment.The study further examined the mediating role of both employees’ perceptions and affective commitment on performance management towards operational performance, it was revealed that both variables positively mediate the relationship between performance management and organizational performance of the SMEs in Ghana. This indicates that SMEs in Ghana have seen the need for implementing proper performance management systems based on their own capabilities to ensure effectiveness in meeting the organizational objectives.
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Selase Asamoah, Emmanuel. "Customer based brand equity (CBBE) and the competitive performance of SMEs in Ghana." Journal of Small Business and Enterprise Development 21, no. 1 (2014): 117–31. http://dx.doi.org/10.1108/jsbed-10-2013-0154.
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Purpose – This paper has three main objectives. The first objective examines the degree of interrelationship between the level of brand equity and the performance of SMEs, while the second objective examines the extent of the antecedents of brand equity (brand awareness, brand association, perceived quality and brand loyalty) in predicting SME performance. The last objective examines the effect of brand equity on the performance of SMEs when the level of brand loyalty is high. Design/methodology/approach – Questionnaires were used in collecting data from managers and customers of SMEs. The sample comprises 98 managers and 311 customers of SMEs. In order to ensure that various sectors of SMEs were covered, stratified random sampling was used; thus, 40 per cent of the SMEs were from the trade sector, 30 per cent from the agriculture sector, and 30 per cent from the small manufacturing sector. However, a simple random sampling method was used in the selection of customers. Findings – It was found that there is a positive relationship between the various dimensions of brand equity and SME performance. Results from the regression analysis indicate a strong predictive power of SME performance by brand association and brand loyalty compared to brand awareness and perceived quality. The study concludes that the performance of SMEs and brand equity is high when there is high brand loyalty among customers. Research limitations/implications – This study did not examine the level of control and the major decision-making factors when deciding on the focus of brand building in both small and large enterprises. Studies could be conducted to compare the predictive power of the antecedents of brand equity in different industries (services, manufacturing and trade) for both SMEs and large enterprises. Practical implications – Managers of SMEs must devote their attention to the building of brand loyalty among customers irrespective of the industry in which they operate. Strategies must also be developed for brand associations as it is a prerequisite for the growth and continuous survival of businesses in a highly competitive market. Originality/value – The originality and value of this paper lies in the cross-sectional survey method (different industries) that was used as well as the use of the CBBE model in examining the competitiveness and performance of SMEs.
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Appiah, Kenneth, Collins Osei, Habte Selassie, and Ellis Osabutey. "The role of government and the international competitiveness of SMEs." critical perspectives on international business 15, no. 4 (2019): 296–322. http://dx.doi.org/10.1108/cpoib-06-2018-0049.
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Purpose The nature of international markets and the challenges with respect to the competitiveness of small- and medium-sized enterprises (SMEs) makes it imperative to examine government support. This study aims to assess the role and effectiveness of government and the export promotion agencies in supporting exports by non-traditional horticultural SMEs in Ghana. Design/methodology/approach The study used a qualitative research design, which involved semi-structured interviews with senior managers of six export facilitating institutions to gain an understanding of the services offered to SMEs with respect to exports of non-traditional horticultural products. Findings The findings reveal inadequate cost-efficient sources of non-traditional horticultural export financing for SMEs. This is a hindrance to the international competitiveness of exporting SMEs in developing countries such as Ghana. In addition, effective and coordinated support from export promotion agencies was found to be critical. Originality/value The study highlights the importance of government’s role in policymaking and implementation of export-led programmes for horticultural exporting firms in Ghana. Despite their strategic importance, this area of research has not attracted the attention of researchers, with little or no information on the horticultural international competitiveness of non-traditional horticultural products.
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Apanga, Michelle Ayog-Nying, Kingsley Opoku Appiah, and Joseph Arthur. "Credit risk management of Ghanaian listed banks." International Journal of Law and Management 58, no. 2 (2016): 162–78. http://dx.doi.org/10.1108/ijlma-04-2014-0033.
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Purpose – The study aims to assess credit risk management practices within financial institutions in Ghana. Specifically, the study compares credit risk management practices of listed banks in Ghana with Basel II (1999). Design/methodology/approach – The analysis is based on data gathered from varied sources, namely, use of questionnaires, analysis of internal credit policies and procedure manuals and semi-structured interviews and discussions with credit risk managers of the selected banks in May 2007 and October 2014. Findings – Overall, the credit risk management practices within listed banks in Ghana are in line with sound practices. The only dissimilarity, however, is the role of the board of directors in defining acceptable types of loans and maximum maturities for the various types of loans. The listed banks in Ghana are also exposed to credit risks associated with granting both corporate and small business commercial loans and the use of collaterals to mitigate their credit risk exposures. Practical implications – Banks in Ghana should consider developing the skills of all their personnel and appropriately motivating those involved in the credit risk management processes to ensure that they carry out this process efficiently. Originality/value – Research into credit risk management in the banking industry from the Ghanaian perspective remains scant. This study is, therefore, timely, and its findings are invaluable for the efficient management of credit risk in the banking industry. This study provides policy recommendations which will enhance shareholder value and, in this way, contribute to greater stability in the banking sector in developing countries, in particular.
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Acheampong, George, Bedman Narteh, and John Rand. "Network ties and survival." International Journal of Entrepreneurship and Innovation 18, no. 1 (2017): 14–24. http://dx.doi.org/10.1177/1465750316685337.
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Poultry farming has been touted as one of the major ways by which poverty can be reduced in low-income economies like Ghana. Yet, anecdotally there is a high failure rate among these poultry farms. This current study seeks to understand the relationship between network ties and survival chances of small commercial poultry farms (SCPFs). We utilize data from a 2-year network survey of SCPFs in rural Ghana. The survival of these poultry farms are modelled using a lagged probit model of farms that persisted from 2014 into 2015. We find that network ties are important to the survival chances of the SCPFs in Ghana. Distribution ties are associated with negative survival chances and this is not even reversed if the human capital of the owner increases although managers with higher human capital and higher distribution ties experience positive effects. Industry ties are associated with positive ties but this probability reduces as the number of industry ties increases but moderation with dynamic capability of the firm reverses this trend. Our findings show that not all network ties aid survival and therefore small commercial poultry farmers need to be circumspect in the network ties they cultivate and develop.
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Tsamenyi, Mathew, and Nana Yaa Antwi-Gyamfi. "mSimps: decision-making in scaling up a small business." Emerald Emerging Markets Case Studies 6, no. 2 (2016): 1–26. http://dx.doi.org/10.1108/eemcs-03-2015-0050.
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Subject area Entrepreneurship. Study level/applicability This case is suitable for graduate-level programmes in business management, as well as for executive education programmes. Case overview Mabel Simpson, the sole proprietor of the award-winning mSimps fashion accessories house in Ghana, must choose from among three options for scaling up her business: an offer from a private investor for GHS 100,000 in exchange for 51 per cent stake in mSimps; or 30 per cent stake for half the amount; an offer from a fashion industry expert for GHS 10,000 in exchange for 30 per cent ownership; or a restructuring of her business model and value chain to enable her release cash to grow her business organically. Expected learning outcomes Students should be able to: understand the interplay of choice and trade-offs in business management and apply theory-driven frameworks in making optimal choices and analytically assess instances of tension between the art (e.g. passion, emotional stakes, psychological and other influences on business management philosophies) and science (e.g. the need for business skills, use of effective models and the quest for production efficiency) of business management. Supplementary materials Teaching Notes are available for educators only. Please contact your library to gain login details or email support@emeraldinsight.com to request teaching notes. Subject code CSS 3: Entrepreneurship
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Mohammed, Ibrahim, and Alhassan Bunyaminu. "Major obstacles facing business enterprises in an emerging economy: the case of Ghana using the World Bank Enterprise Survey." Journal of Small Business and Enterprise Development 28, no. 3 (2021): 475–87. http://dx.doi.org/10.1108/jsbed-04-2020-0110.
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PurposeThis paper aims at identifying the major obstacles to business enterprise in an emerging economy and how these obstacles are associated with different characteristics of the enterprises.Design/methodology/approachThe study relied on the World Bank Enterprise Survey data on Ghana and applied binary and ordinal probit regression techniques to estimate the associations between the characteristics of the enterprises and the identified obstacles. Significance testing of the associations is also conducted.FindingsThe five main obstacles perceived by most of the enterprises in the study are access to finance, electricity, access to land, customs and trade regulations and tax rates. These obstacles are associated in different ways to growth rate (high vs low growth), scale (small and medium vs large), age, size of employees, the experience of the top manager and ownership (wholly domestic vs foreign ownership).Research limitations/implicationsAs a cross-sectional study focusing on Ghana, the findings are informative about the major obstacles facing business enterprises in an emerging economy; however, the ecological validity of these findings may be limited to factors specific to Ghana.Originality/valueGiven the representativeness of the Enterprise Survey, policymakers can rely on these findings to formulate useful policies to promote the operations of business enterprises.