The Impact of Institutional Support in SMEs Marketing, and Growth—A Case Study of Retail SMEs in Ghana
The Impact of Institutional Support in SMEs Marketing, and Growth—A Case Study of Retail SMEs in Ghana
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Date
2016-07-01
Authors
Osei, Abraham
Forkuoh, Kwarteng Solomon
Shao, Yunfei
Aboagye, Michael Osei
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Publisher
Scietific Research Publishing
Abstract
Small and Medium Enterprises (SMEs) are still hailed as the panacea of economic development of
many countries, since they play a fundamental part of the economic fabric in developing a crucial
role in furthering growth, innovation and prosperity. In the quest to achieve growth, SMEs unfor-
tunately face severe challenges including the marketing of their products, which stem from unqu-
alified employees in the marketing department, inadequate finance to undertake marketing re-
search, go international, and to participate in trade fairs among other factors. Leaving most SMEs
to face these challenges alone usually leads to high rate of demise and low growth rate, hence gov-
ernment and other multi donor organizations provide support to these SMEs in the area of finance,
market, managerial capacity building among others. This research assesses the impact of the gov-
ernment support in the form of marketing assistance (training of marketing staffs, access to for-
eign marketing, trade fairs and exhibitions) to some selected retail SMEs in the ten Regional Capi-
tals of Ghana on their growth. Using firm data report, the results indicated that the provision of
support for SMEs to participate in trade shows and exhibitions highly impact positively on SMEs
growth, followed by the provision of support in access to international market, and support in the
training of marketing staffs of SMEs.
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Citation
Osei, A., Forkuoh, K. S., Shao, Y., & Osei, M. A. (2016). The impact of institutional support in SMEs marketing, and growth—A case study of retail SMEs in Ghana. Open Journal of Business and Management, 4(03), 408.