The effects of financial resource mobilization effort on business performance of smes-a case of atwima nwabiagya north district
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Date
2023
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KNUST
Abstract
The primary goal of this research was to explore the effects of financial resource mobilization efforts on the business performance of smes in the Atwima Nwabiagya North District. However, through a cross-sectional descriptive survey, the study engaged 100 respondents through a simple random sampling technique. The respondents were obtained through online Google Forms. Additionally, the study used descriptive and inferential statistics including frequencies, percentages, and regression analysis. The findings indicated that personal savings are the most prominent source of funding for smes. The regression analysis indicated that family and friends as well as personal savings are sources of capital which affect the performance of the various smes. Similarly, the majority of respondents strongly agree or agree that personal savings and bank loans as both internal source and external source of funding significantly impacts business survival. Furthermore, the findings also revealed that a considerable number of respondents perceive regulatory or legal restrictions on fundraising activities as a challenge. The study then recommended that the District Assembly strengthen its regulatory environment, the firm owners should enhance customer satisfaction and loyalty, and the smes diversify their funding sources
Description
A thesis submitted to the department of marketing and corporate strategy, school of business, college of humanities and social sciences Kwame Nkrumah university of science and technology in partial fulfillment of the requirements for the degree of master of business administration (strategic management and consulting)