Top PDF Microfinance Interventions and Poverty Reduction among Entrepreneurs of Micro, Small and Medium Entreprises in Central Region of Ghana

Microfinance Interventions and Poverty Reduction among Entrepreneurs of Micro, Small and Medium Entreprises in Central Region of Ghana

Microfinance Interventions and Poverty Reduction among Entrepreneurs of Micro, Small and Medium Entreprises in Central Region of Ghana

Poverty is one of the major challenges facing humanity today. A variety of measures have been adopted over the years for reducing poverty. The attack on poverty was spearheaded by the Millennium Development Goals (MDGs) set by the United Nations. The first goal of the MDGs was to eradicate extreme poverty and hunger by the year 2015 (UNDP, 2010). Despite the remarkable achievement of the past decade in lifting over 700 million people out of poverty, the World Bank has indicated that over 1.2 billion of the worlds’ population is still living in extreme poverty (Tung, 2015). Accordingly, development agencies such as the World Bank and the United Nations continue to find strategies to reduce global poverty especially in developing countries. The framework aimed at reducing global poverty has evolved from the pursuit of growth led strategies to pro-poor policies of empowerment and livelihood programs (Dzisi and Obeng, 2013).
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Effect of Micro Savings on Poverty Reduction in Central Region of Ghana

Effect of Micro Savings on Poverty Reduction in Central Region of Ghana

The study sought to investigate the effect of micro savings on poverty reduction from the perspective of microfinance clients who are also entrepreneurs of micro small and medium enterprises in the Central Region of Ghana. The Ghana Living Standards Survey (2014) found that over 6.4 million of Ghanaians representing 24.2 percent of the population lived below the poverty line in spite of the numerous interventions instituted by government and development partners over the years to address poverty. The Specific objectives of the study was to establish the effect of micro savings on poverty reduction in Central Region of Ghana. One hypotheses was formulated to cover the specific objective which was operationalized into four sub-hypotheses. Using cluster sampling techniques, the study sampled 370 entrepreneurs of micro small and medium enterprises. Questionnaire was used as the data collection instrument in an exercise that took place in November and December 2016. SPSS was used to analyse the data using cross tabulations and multiple regression analysis. The study found that micro savings had a statistically significant positive effect on growth in income and acquisition of business assets. It however had a relatively weak positive effect on consumption expenditure and a moderate effect on ability to educate children as poverty indicators. Accordingly the study rejected all the null hypothesis and concluded that microfinance interventions are effective at reducting poverty in Central Region of Ghana. The study cites limitations encountered and recommends areas for further studies.
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Effect of Access to Credit and Financial Services on Poverty Reduction in Central Region of Ghana

Effect of Access to Credit and Financial Services on Poverty Reduction in Central Region of Ghana

The study sought to determine the effect of access to credit and financial services on poverty reduction in Central Region of Ghana from the perspectives of Micro, Small and Medium Enterprises (MSME’s). Micro, Small and Medium Enterprises contribute significantly to the economic growth and poverty reduction strategies of most countries. The importance of the MSME’s have long been recognized in many countries across the globe. However, lack of access to credit and financial services has been identified by several studies as the main obstacle to MSME’s growth and the reduction of poverty in Ghana. The Specific objective of this study was to establish the effect of access to credit and financial services on poverty reduction. One hypothesis was formulated to cover the specific objective and operationalized into four sub-hypotheses to cover the various indicators of poverty (growth in income, increase in consumption expenditure, acquisition of business assets and ability to educate children). Using cluster sampling techniques, this cross sectional study sampled 370 entrepreneurs of Micro Small and Medium Enterprises. Questionnaire was used as the data collection instrument in an exercise that took place in November and December 2016. SPSS was used to perform cross tabulations and multiple regression analysis. The study found that access to credit and financial services had a fairly weak positive effect on growth in income, increase in consumption expenditure and acquisition of business assets. The study however found access to credit and financial services to have a significant effect on ability to educate children as poverty indicators. Consequently, the study rejected the null hypotheses in question. In view of the findings, the study makes conclusions and recommendations for further studies besides highlighting limitations.
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Microfinance and Poverty Reduction in Ghana.  The Case of Central Region of Ghana

Microfinance and Poverty Reduction in Ghana. The Case of Central Region of Ghana

sample to the various categories of clients defined by business sector, size of enterprise, gender and level of education etc. Since the majority of the beneficiaries of micro-credit are illiterates and semi-literates who live in the rural areas, the research used a combination of interview and questionnaire, case studies, and focus group discussions to collect the primary data. The questionnaire and interviews were used to collect both quantitative and qualitative data from the respondents (individual Micro and small scale enterprises, and Microfinance Institutions) who fell within the sample. Case studies were used to assemble more detailed qualitative information/data from a few selected micro-entrepreneurs who have unique impact experiences. This method revealed interesting client stories and important impact statements. The participatory approach on the other hand was in the form of focus group discussions which examined divergent or differing opinions about certain issues and also validated contradictions in some of the information emerging from the use of the other survey instruments. Secondary data mainly involved a review of related literature on Microfinance and poverty reduction. The financial situations of the clients before and after joining the microfinance scheme were compared to examine the extent of the change in their financial position as a result of the Microfinance programme. Here the assumption was that the respondents were able to accurately remember their conditions before joining the scheme if they did not have records of the data. Simple tables were generated to analyse the data.
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THE EFFECT OF MICROFINANCE INSTITUTIONS ON THE GROWTH OF SMALL BUSINESSES IN KUMASI, ASHANTI REGION OF GHANA

THE EFFECT OF MICROFINANCE INSTITUTIONS ON THE GROWTH OF SMALL BUSINESSES IN KUMASI, ASHANTI REGION OF GHANA

Daryl and Morduch (2009) opined that microfinance loans help the low income borrowers to gradually stepout from complete poverty and deal fairly with their economic circumstances by assisting them to be engaged in economic activities even though it does not help them to totally escape poverty. Daryl and Morduch also gave more credit to microfinance institutions because they seem more reliable, flexible and convenience to the borrowers than all other tools they can access to manage their daily cash flow, both in business and at home. They explained that even though most borrowers go back for microfinance loans and most inconveniently, repay the loans at exceedingly high rates, it still remain the only sector that pay more attention to small businesses growth. Borrowers rush to repay the loan when the main motive for prompt repayment is not lenders pressure or business success, but rather the desire to maintain future access to such helpful service. Another advantage of microfinance is that, it enables households and individuals and small businesses that would not nor could not raise capital to honour payment of their fixed – acquiring assets to start business to do so through borrowingto become entrepreneurs. MFIs assist borrowers to use the savings or income from their loans for investment in life-improving amenities such as housing, education, food, and health which signifies actual reduction in poverty of such clients.
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Sustainability of Small and Medium Scale Enterprises in Rural Ghana: The Role of Microfinance Institutions

Sustainability of Small and Medium Scale Enterprises in Rural Ghana: The Role of Microfinance Institutions

Despite the potential of SMEs to facilitate and foster economic growth at both national and local levels, many studies have highlighted lack of access to finance as a major setback which impedes SMEs role in national development especially at the rural level (Carpenter, 2001; Anyanwu, 2003; Lawson, 2007; Meijerink and Roza, 2007). According to Musamali and Tarus (2013), access to finance has four key dimensions: physical access, affordability, appropriate features that meet the needs of SMEs, and appropriate terms that ensure effective inclusion of all categories of potential SMEs. However, Meijerink and Roza (2007) explain that capital markets are often incomplete in rural areas, limiting the opportunity of rural households to access finance for investments. Without a sustainable rural financial system in place most rural SMEs in Ghana will begin small and eventually die small, without ever having to see any expansion in terms of output and profits.
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Micro Small and Medium Enterprises Accessibility to Financing at Islamic Microfinance Institution in Indonesia

Micro Small and Medium Enterprises Accessibility to Financing at Islamic Microfinance Institution in Indonesia

In the criteria set by the Islamic Microfinance Institutions, one important criterion is the business age of the Micro, Small and Medium Enterprises, because the business age is used to assess the consistency of the Micro, Small and Medium Business actors regarding the business they run. According to Ganyaupfu (2013) from the results of his research found that the length of running a business empirically has a positive and significant effect on business success. the findings of Alom et al. (2016) also state that the length of business has a positive effect on the success of MSMEs in Malaysia. The results of similar studies are also in line with the findings of Kemayel (2015) that business age has a significant effect on the success of MSMEs in Lebanon. Thus, the longer an organization operates, the more successful the organization is compared to other organizations operating in a shorter period of time (Nandita, 2018). This is the reason the managers of Islamic microfinance institutions provide easy access for MSMEs to conduct financing.
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MICRO BUSINESS FAILURE AMONG WOMEN ENTREPRENEURS IN GHANA: A STUDY OF SUNYANI AND TECHIMAN MUNICIPALITIES OF THE BRONG AHAFO REGION

MICRO BUSINESS FAILURE AMONG WOMEN ENTREPRENEURS IN GHANA: A STUDY OF SUNYANI AND TECHIMAN MUNICIPALITIES OF THE BRONG AHAFO REGION

Despite the growth of women owned businesses, majority of them continue to face a lot of challenges leading to the demise of their business. The aim of this study is to identify the causes of business failure among women, so as to offer advice to assist policy makers and other stakeholders. Firstly, the authors reviewed the general literature on business failure, looking particularly at micro businesses which involve women. Secondly, in depth interview and structured 5 point Liket scale questionnaire was used to collect data from a sample of 133 women entrepreneurs from the Sunyani and Techiman central market in the Brong Ahafo Region of Ghana. The study revealed that their businesses fail due to various factors such as taxation, load shedding, high rent charges, child care responsibilities and other family commitments as well as lack of information on business development. The findings of this study have important implications for those who formulate, deliver and evaluate micro businesses involving women entrepreneurs policy in Ghana. Based on the findings, policy makers may wish to review the current system and make changes to minimize micro business failure among women entrepreneurs.
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A Study of Herding Behaviour and Financial  Recording to Strengthen Micro, Small and Medium  Sized Enterprises in Coastal Area

A Study of Herding Behaviour and Financial Recording to Strengthen Micro, Small and Medium Sized Enterprises in Coastal Area

This research was conducted at MSME in three districts in Siak Regency, namely Tualang, Koto Gasib and Mempura. The selection of setting was first because the same-topic research has never been done at that location. Then, secondly, in accordance with Presidential Regulation Number 98 of 2014 about the grant of micro and small business licenses from the regent to the district head, Siak Regency was a pilot area at the national level regarding the application of this regulation (www.ukmriau.com). In addition, the business potential of MSME in the Siak Regency was quite big, as indicated by the various business sectors in each district. This condition was also supported by the regional economic potential and investment climate in the Siak Regency. Moreover, currently Siak has aggressively developed its tourism sector. It was expected that this would also provide an opportunity for MSME to continue to grow, develop and improve their competitiveness. Meanwhile, the selection of the three districts was based on the consideration that the three districts had the largest numbers of MSME compared to other districts in Siak Regency.
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The Development of Demand for Small and Medium Industries in Indonesia

The Development of Demand for Small and Medium Industries in Indonesia

Sri wahyuningsih (Role of the SME industry in the Indonesian economy) stated that UKM (Small and Medium Enterprises) is a business activity that is in great demand after the economic crisis that impacts layoffs on large companies. Helena Tatcher Pakpahan (2014) states that the role of small and medium enterprises (SMEs) in the Indonesian economy has been recognized by the wider community. Regions that have a strong network of small businesses will succeed in industrial competition in the Domestic and Global markets. Local governments have known from the beginning the role of SMEs in their respective regional economies. The challenge faced by each region is the preparation of employment due to the rapid increase in the workforce. This can be seen from the high unemployment rate in almost all regions. The role of SMEs is felt to be very important because this sector is not only a source of livelihood but also provides employment work both directly and indirectly for people with low levels of knowledge and skills. Basically, SMEs can conduct transactions with economic actors from anywhere, both fellow SMEs, large businesses, and can foster international cooperation. UKM plays a role in fulfilling most of the people's needs of life. At the same time, SMEs contribute to a country's exports. In this case, SMEs act as distributors and share various products produced by large businesses. For certain consumer products such as instant noodles and cosmetics, SMEs are the main market reaching 91 percent share. The description of the condition of SMEs in Indonesia there are also around 40 million business operators in Indonesia consisting of 39 million micro business operators, 640 thousand small business units, 70 thousand medium business actors and 11 thousand large business actors. Among the micro-businesses, 39 percent of them are farming and other businesses related to agriculture, including capturing farmers, tenants, and small farmers.
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The Influence of Human and Financial Capital on the Performance of Woman Entrepreneurs in Micro and Small Entreprises in State of Perak, Malaysia

The Influence of Human and Financial Capital on the Performance of Woman Entrepreneurs in Micro and Small Entreprises in State of Perak, Malaysia

Financial capital plays a vital role in the economy and consistently to be an important factor to encourage the business development in women, whether in the business and expanding it effectively. The finding indicates that financial capital is very significant with the revenue and profitability, also affect positively on the performance of women entrepreneurs in business. The establishment of the various financial assistance through a number of stakeholders such as government agencies, the Malaysia Government Link Company (GLC), commercial Banks, and some others private sectors can provide funding to help women entrepreneurs developing business in order to achieve the mission of government to promote economic growth. Mukulu (2013) has uncovered similar relationship. Therefore, without enough financial capital, it is hard for women to start up and expand the business in order to achieve the objective successfully.
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THE IMPACT OF EDUCATION, CULTURE AND ENVIRONMENT ON ENTREPRENEURIAL DEVELOPMENT IN INDIA

THE IMPACT OF EDUCATION, CULTURE AND ENVIRONMENT ON ENTREPRENEURIAL DEVELOPMENT IN INDIA

(iv) Financial Assistance: The finance is the main prerequisite of any entrepreneur to start a new venture but most of the entrepreneurs lack in seed capital finance to start a new business. The concept of venture capital in developing countries like India is a recent one; similarly many venture capital firms and commercial banks are not willing to invest in highly risky projects related to new or unproven ideas or technologies and the alternate source of financing are almost non-existent. But during the last few years the government has done sincere efforts to promote the MSMEs in India. Also many investment companies have been generated which are offering loans to the entrepreneurs at low rates of interest. Moreover, the availability of credit guarantees schemes for small businesses have contributed to the establishment of new businesses. (Dana, 1987; Harrison & Mason, 1988; Hawkins, 1993)
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Evaluation of the marketing communication of scientific units in the context of cooperation with the sector of small and medium enterprises in Lodz region

Evaluation of the marketing communication of scientific units in the context of cooperation with the sector of small and medium enterprises in Lodz region

The research also gave an answer to the question which of the sources of information about the offer of scientific entities (the subject of later cooperation) was the main one from which entrepreneurs drew. The analysis of the respondents' answers clearly shows that it was the conversation at a scientific conference, symposium or trade fair that gave an impulse for later cooperation. This type of communication was indicated by 16 out of 22 respondents. The second place was taken by business contractors (22.7%), and the third place, with a share of 4.5%, was taken by the website of the research unit. The remaining variants (advertising materials, social media, newsletter, "open door", advertisement in the mass media) did not receive any indication.
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The effect of Microfinance Institutions on the growth of small businesses in Kumasi, Ashanti Region of Ghana

The effect of Microfinance Institutions on the growth of small businesses in Kumasi, Ashanti Region of Ghana

are run by married females between the ages of 30-39 years who also had no or low level formal education. The age group of SB operators in Kumasi metropolis affirmed the high contribution of small businesses to the employment of Ghana’s working population. It was again obtained that SBs absorbed the section of Ghana’s population who had no formal education to gain employment to the formal sector. However, it was also found that, the low education level possibly caused inadequate utilization of microfinance services and mismanagement of small business funds. This accounted for the constant monitoring, education and training by the MFIs to assist them to overcome their small business management challenges in order to achieve growth. It was also revealed that, most of the respondents are involved in retail trading and greater number operated in stores. Finally most present-day microfinance schemes to small businesses in Kumasi are less helpful than they are expected to be because the microloans are not a universal remedy for poverty- alleviation and that in some cases the poorest people have been made worse-off. To a very large extend, an increasing number of microfinance institutions, if not all, are now in operation for profit
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The Interactions between Microfinance Institutions and Small and Medium Scale Enterprises in the Sunyani Municipality of Ghana

The Interactions between Microfinance Institutions and Small and Medium Scale Enterprises in the Sunyani Municipality of Ghana

As in many human institutions both customers and service providers have various reasons why they deal with each other and it is based on these that customers switch or remain loyal to service providers. According to Binks et al. (1996) the perception of SMEs and their banks was virtually identical across banks. His conclusion was that the bank/ SME relationship was insufficiently close to enable anything other than a capital gearing based loan decision rather than any form of prospects based on income gearing approach. Though MFIs were supposed to fill the gap between banks and SMEs and provide solutions that suit the conditions within which SMEs operate, the volatility of SMEs does not provide enough security for the provision of some services by MFIs especially the provision of credit facilities. SMEs are required by the MFIs to meet some criteria to be able to access credit from them. Therefore, the study attempted to identify the reasons why SMEs patronise the services of microfinance institutions and it was found that 137 (90%) of the respondents work with MCSL because they can secure loans, 72 (47%) stated they deal with the institution because they are able to save to improve their businesses while 53 (35%) stated that they obtain business advice but 16 (11%) stated that they are able to save for personal projects.
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Entrepreneurial success through microfinance services among women entrepreneurs in Sri Lanka and effect of their ethnicity

Entrepreneurial success through microfinance services among women entrepreneurs in Sri Lanka and effect of their ethnicity

According to Marco Dandon (2015) ethnicity is a very sensitive subject and directly impacts standards, opinions, values, attitudes and the thought process of people. The theory of change underlying the objectives set out by the microfinance initiative is that social change goes through the financial (and economic) empowerment of individuals. In such a theory, the ethnic boundary is only indirectly related to micro-finance in the West (Barinaga, 2015). However, Rankin (2001) states that as an example, women of South Asian countries, show that caste, ethnicity, and class are social distinctions that might preclude them from viewing their interests with other women. As in microfinance group activities play an important role, one can expect ethnicity to influence the entrepreneurial success of women in microfinance. This position is strongly supported by the industry experts during the pilot survey. According to the Census and Statistics Department of Sri Lanka (CSD) in 2014, the women account for 51.75% of the population in Sri Lanka. Out of total ‘economically inactive population’ of the country, 69 percent are females, and out of the total ‘economically
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A STUDY ON MICRO SMALL MEDIUM ENTREPRENEURS PREFERENCE AND PROBLEMS TOWARDS BANKING SERVICES

A STUDY ON MICRO SMALL MEDIUM ENTREPRENEURS PREFERENCE AND PROBLEMS TOWARDS BANKING SERVICES

i) It is understand from study, the private sector banks and foreign banks are leading the public sector banks, in terms of better customer service due their strength in speed and accuracy of conducting bank transaction. Hence the public sector banks can enhance the speed and accuracy by adopting core banking technology. The speed of the transaction of SBI has increased by over the folds. All due to the introduction of the new core banking technology. Since the adoption of core banking technology by SBI in 2003, the bank has visualized over 60% like in its customer accounts. Only nationalized banks provide subsidies to the entrepreneurs.
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Adoption of financial and accounting services outsourcing among small medium entreprises

Adoption of financial and accounting services outsourcing among small medium entreprises

Third Party Service (TPS) Outsourcing has been an integral part of firms’ strategy operations in view of the limited resources and capabilities particularly for the small and medium enterprises (SMEs). TPS outsourcing include the adoption of financial and accounting services outsourcing (FAO) from third party instead of having internal financial and accounting operations. Despite the importance of financial and accounting function in any business operation, the least resources were normally allocated to this function as compared to other operations such as production and marketing. The study was aimed to identify the types of FAO activities and factors influence the adoption of FAO among SMEs.
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THE EFFECT OF SMALL AND MEDIUM ENTERPRISES ON POVERTY REDUCTION IN AFGHANSITAN

THE EFFECT OF SMALL AND MEDIUM ENTERPRISES ON POVERTY REDUCTION IN AFGHANSITAN

Growth of economic in a country is implies that there is many more opportunities in jobs. In this case people will find jobs and the income will increase, by this income which is find from job and good opportunities they can afford for better life of themselves. Growth economic is always will not good for the poor people of society, because when there is develop in economy, develop and revenue which is trickle down to poor people of society in which some organization is who is member of organization in poverty is disagree with this. When economics is growth and this growth should be trickle down to poorest people of society because they need first for that. Afghanistan government cannot provide any enough facilities of environment to make easy life for them. Afghanistan Research Evaluation (ARED) is completed the recently research regarding the urban poverty and they informed that the people are really facing with poverty (AREU, 2006).
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FINANCIAL RECORDS KEEPING AND BUSINESS DECISION MAKING PRACTICES BY SMALL AND MICRO ENTERPRISE OWNERS IN GHANA – EVIDENCE FROM THE CENTRAL REGION

FINANCIAL RECORDS KEEPING AND BUSINESS DECISION MAKING PRACTICES BY SMALL AND MICRO ENTERPRISE OWNERS IN GHANA – EVIDENCE FROM THE CENTRAL REGION

There are several factors influencing business decisions. It may be profit-oriented, expansion, market share driven, general economic conditions, available working capital, access to credit, extent of competition in the industry, relevance of current and perhaps past financial records and so on. Mostly though, there are consideration(s) of other factors when the major decision factor has been fingered out. For instance, how the outcome will be measured. However, if the key factor is wrong then all things being the equal, the decision taken and the associated results would be wrong. The reverse is true. Again, the decision factor may be determined by the respective firm’s present circumstance and its strategy for the future. Obviously, based on the outlook of a respective business manager, the selected decision factor of for instance, business C in a particular industry would be different from business A within the same industry. These peculiarities notwithstanding, there are generally distinguishing features of profit-making concerns that are frequently used to broadly assess them. Table 10 shows that overall, 34% of SMEOs (majority) made decisions based on their respective profit strategies and targets. The same proportion (34%) was found in respect of the small and micro business segments respectively. In all instances, the least decision factor however, was the use of prepared budgets as a tool for decision-making.
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