Investigating the relationship between sources of finance and small & medium enterprise growth: the role of financial literacy
| dc.contributor.author | BAFFOUR-AWUAH ABIGAIL | |
| dc.date.accessioned | 2024-01-16T10:08:44Z | |
| dc.date.available | 2024-01-16T10:08:44Z | |
| dc.date.issued | 2023 | |
| dc.description | A dissertation submitted to the department of marketing and corporate strategy, Kwame Nkrumah university of science and technology, Kumasi in partial fulfillment of the requirements for the degree of master of business administration in strategic management and consulting | |
| dc.description.abstract | The study examines the relationship between sources of finance and the growth of small and medium enterprises, as well as the role that financial literacy plays. The research objectives include investigating the effects of personal savings, retained earnings, bank loans, and support from family and friends on SME growth in the Kumasi metropolis. Additionally, the study aims to explore the moderating effect of financial literacy on the relationship between sources of finance and SME growth in the Kumasi Metropolis. This theory employed the resource-based view theory. A sample size of 135 was considered for the study. The study employed a random sampling technique. The findings showed that there is a positive and significant relationship between source of finance and SME growth. The study revealed that there is a significant and positive relationship between the source of finance and SME growth in the Kumasi Metropolis. The study concludes that the level of financial literacy among SME owners or managers can either enhance or diminish the impact of the source of finance on SME growth. The following recommendations are made based on the research objectives: It is strongly recommended that organizations initiate comprehensive programs comprising workshops, seminars, and online courses. These initiatives should aim to empower participants with the knowledge and skills necessary for making informed financial decisions, effective budget management, and a solid grasp of fundamental financial concepts. To ensure the effective application of acquired financial knowledge and skills, organizations should establish transparent and user-friendly internal financial reporting systems. These systems aim to enable employees to readily access and understand financial information, fostering a culture of heightened financial awareness and responsibility. Also, by encouraging fresh ideas and exploring innovative avenues to enhance products, services, or operational processes, smes can adapt to evolving market dynamics and remain competitive | |
| dc.identifier.uri | https://ir.knust.edu.gh/handle/123456789/15199 | |
| dc.language.iso | en | |
| dc.publisher | KNUST | |
| dc.title | Investigating the relationship between sources of finance and small & medium enterprise growth: the role of financial literacy | |
| dc.type | Thesis |