Exploring Small And Medium-Scale Enterprises Intention To Utilize The Youstart Initiative In The Sunyani Municipality, Ghana

Abstract

Small and Medium-scale Enterprises contribute a colossal percentage to Gross Domestic Product (GDP) in ensuring economic growth, employment, income stability and poverty reduction in most developing countries like Ghana. Despite the fact that small and medium-scale policy methods have been successful in a few nations, the majority of emerging nations have discovered that their SME development programs have had an unsatisfactory impact on firm performance. Government of Ghana has implemented policies and programmes to support SMEs and lower Ghana’s unemployment rate, including the YouStart initiative. Therefore, this study sought to explore SMEs intention to utilize the YouStart initiative in the Sunyani Municipality. The specific objectives of the study were as follows: to assess SMEs' readiness to use the YouStart initiative, to investigate why SMEs intend to utilize the YouStart initiative and to determine how SMEs intend to utilize the YouStart initiative. This study was done using both primary and secondary data. In order to achieve the objective, a conceptual and theoretical framework of the study was designed. These guided the design of data collection instrument to suit the study. The study utilized quantitative methods of data collection and analysis. Questionnaires were designed to collect primary data from the respondents. The study revealed among other things that: SMEs are ready to embrace and use the initiative in their business operations by assuming an active role in implementing it to ensure the ultimate utilisation of the YouStart initiative and in so doing improve their business efficiency. Secondly, SMEs predominantly sought the initiative to obtain financial support, optimize their available resources and increase their growth chances. Lastly, SMEs aimed to use the YouStart initiative to increase market access and business partnerships, ensure product certification and quality control and in turn improve product or service offerings.