Accessibility of finance options and the level of satisfaction: a study of some selected business in the Sunyani municipality

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The role played by entrepreneurs in the economic development of countries cannot be overemphasized. Finance is an important component needed by an entrepreneur in setting up, and or maintaining a business. The objective of the study was to examine the finance options available to the Ghanaian entrepreneur, and evaluate the satisfaction the entrepreneur derives from the various options and come up with the best option by comparing the significant levels. The study was quantitative, and used a sample of 50 entrepreneurs from the population of entrepreneurs in Sunyani Municipality. Random sampling was used to select respondents. SPSS was used in coding, entry and analysis of the data, using descriptive statistics and ANOVA. The study revealed that, the finance options or sources of finance mostly used by entrepreneurs are personal credit union, banks, micro finance, and Moneylenders. The study showed that, the entrepreneurs were satisfied with the various finance options with regards to service rendered and impact on business performance and it was also revealed that firm’s age have effect of finance option available to entrepreneurs. It was recommended that financial institutions create products that will motivate savings among entrepreneurs as well as the entrepreneurs should try to save by using it as a finance option. When this is done, the entrepreneurs will have to assess interest-free funds for their businesses
A Thesis submitted to the Department of Accounting and Finance, Kwame Nkrumah University of Science and Technology, Institute of Distance Learning in partial fulfilment of the requirements for the degree of Master of science (accounting and finance) .