The assessment of the growth of small scale businesses through access to microfinance by women’s groups in the Nanumba-North district of the Northern Region of Ghana.

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JUNE, 2016
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The study aimed at assessing the growth of small scale businesses through access to microfinance by women’s groups, especially so since most of the time, businesses rather cry for limited capital. In this regard, literature was reviewed in the following thematic areas: growth theories, microfinance in Ghana, Challenges of microfinance in Ghana, relevance of small scale businesses and their challenges as well as empirical review of women in business. Triagulation of data collection methods were used, including interviews and survey questionnaires. The questionnaires were administered to 150 women entrepreneurs in 15 women groups in the Nanumba-North district. The study found that growth, which is proxied by sales increased after the receipt of the loan as an indication that microfinance has helped to improve the growth of women’s small businesses in the district. Also, there was improvement in the entrepreneurs’ business development skills and a rise in the levels of employment. Ironically, majority of the women small business operators saw managerial incompetency as the most challenge in their quest to grow their businesses. As a result of the findings, the study suggested increased in loan repayment period which seemed to be very short for maximum growth, though there was increased in sales levels. Because managerial incompetency was seen as the most challenge, microfinance institutions should commit resources on small scale entrepreneurial training for the development of their business managerial skills for growth.
A dissertation submitted to The Department of Economics, Kwame Nkrumah University of Science and Technology in partial fulfilment for the award of a Master of Science Degree (Msc) in Economics