Gyimah, P., & Boachie, W. K. (2018). Effect of microfinance products on small business growth: Emerging economy perspective. Journal of Entrepreneurship and business Innovation, 5(1), 59-71.
Gyimah, P., & Boachie, W. K. (2018). Effect of microfinance products on small business growth: Emerging economy perspective. Journal of Entrepreneurship and business Innovation, 5(1), 59-71.
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Date
2017-06-02
Authors
Gyimah, Prince
Boachie, W K
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Publisher
Journal of Entrepreneurship and Business Innovatio
Abstract
Small businesses play significant role to the economic stability and development of emerging
economies, and access to financial services is crucial to their growth and performance. This
study examines whether microfinance products such as loans, savings, insurance, and
education affects small business growth in Ghana. The study uses descriptive and inferential
statistics to analyse responses of 248 small business owners. Using a multiple linear regression
model, the study found that all the microfinance products positively affects small business
growth, and the greatest influence is micro loans. This study contributes massively to extant
literature on the nexus of microfinance institutions (MFIs) products and small businesses in
emerging economy, Ghana. Also, the study assists MFIs to assess the effectiveness of their
product, and serves them as a guide to utilize effectively the available scarce resources that
could enhance the growth of small businesses in emerging economies.
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Citation
Gyimah, P., & Boachie, W. K. (2018). Effect of microfinance products on small business growth: Emerging economy perspective. Journal of Entrepreneurship and business Innovation, 5(1), 59-71.