Abstract:
The main focus of the research was to examine the impact of Microfinancing on the
growth of Small Scale Industries. The study adopted a descriptive design and also
concentrated on the collection of quantitative data. However, the target population of
the study were Kente Weavers at Ashanti Bonwire area. For this specific reason,
relevant data was collected from the owners or operators of the Kente Business,
(Kente Weavers), in the Bonwire locality. In all, 60 respondents participated in the
study with regards to the answering of questionnaires. Meanwhile, the researcher tried
by himself to answer three research questions. The feedbacks and the results that
emerged from the respondents demonstrated that, almost all the respondents have had
an encounter with the sources of finance available for Small Scale Entrepreneurs.
Most of the respondents also confirmed that they were much more familiar with
Micro-loan or Credit facilities and personal savings. Finally, it was revealed that most
of the Kente Weavers heavily rely on Micro-Credit as their major source of funding
for their projects. Also, Pearson’s simple correlation was used to determine the impact
of Microfinancing on the various factors that ensures growth of a particular firm. The
correlated results proved that Microfinancing has a positive impact on the various
growth factors that were assessed. The researcher, however, recommended that Small
Scale Entrepreneurs should keep proper books of account, in order that they can have
a good standing to access loans/credit from financial providers like the Microfinance
institutions, the insurance companies and the others.
Description:
A RESEARCH PROJECT PRESENTED TO THE DEPARTMENT OF
ACCOUNTING AND FINANCE, UNIVERSITY OF EDUCATION WINNEBA
IN PARTIAL FULFILLMENT OF THE REQUIREMENT FOR THE AWARD
OF MASTER’S IN BUSINESS ADMINISTRATION (FINANCE)
JUNE, 2017