Economics, Econometrics and Finance
4 years ago

Boosting Financial Resources Leads to Growth of Small Businesses in Ghana

Financial Resource Building Effort, Financial Resource Availability, Financial Literacy, and Growth of Small and Medium Enterprises in Ghana.
Joseph Owusu

Paper Summary

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The study looked at how financial efforts impact the growth of small and medium businesses in Ghana. They found that SMEs in Ghana mainly rely on retained profit and bank loans for funding. The study showed that when SMEs have more financial resources available, they tend to grow more. Additionally, having good financial knowledge can strengthen the positive impact of financial resources on business growth.