Tags: Self Introduction Essay 100 WordsCase Studies For Use With Computers In The Medical Office AnswersPersuasive Essay ChecklistBroken Windows Theory EssayEssay On My First Flight JourneyPhd Thesis ThesisPersuasive Essay On High School DropoutsChina Essay Great Wall
Limited access to finance remains a dominant constraint to small scale enterprises in Ghana.Credit constraints pertaining to working capital and raw materials are often cited by small firm and these partly stem from the fact that SMEs have limited access to capital markets, both locally and internationally. SMEs have difficulties in gaining access to appropriate technologies and information on available techniques. This fact is ascertained by UNCTAD 2005 which notes that most SMEs also lack the technical know-how and financial resources needed to acquire state of the art technologies and equipment required to improve productivity and to become internationally competitive. Regulatory Constraints: Although wide ranging structural reforms have improved, prospects for enterprise development remain to be addressed at the firm-level.
Mensah 2004 drew up a basic profile on such SME challenges: SMEs are dominated by the owner/manager who takes all major company decisions.
The entrepreneur possesses limited formal education, access to and use of new technologies, market information, and access to credit from the banking sector is severely limited.
Indeed there is preliminary evidence that competence development activities can reduce the failure rates of small firms, which are far more likely to fail than larger firms, particularly in the early years (OECD 2002).
1.2 SMEs in Ghana: Definition and Role towards Economic Development As per statistics from the United Nations Economic Commission for Africa 2010, Ghana’s GDP grew at an annual rate of 5.4 per cent between 20.
This is not an example of the work produced by our Essay Writing Service.