TITLE:
Assessment of Financial Regulatory Constraints and Its Effects on Business Performances Leading to Consequent Failure of MSMEs in Tema, Greater Accra Region of Ghana
AUTHORS:
Emmanuel Kwabla Ocloo, Gnanesh Devakumar, Esther Asiedu
KEYWORDS:
MSMEs, SPSS, Financial Regulatory Constraints, Model
JOURNAL NAME:
American Journal of Industrial and Business Management,
Vol.12 No.3,
March
30,
2022
ABSTRACT: Purpose: The study seeks to assess
financial regulatory constraints and their effects on performances leading to consequent failure of selected
entrepreneurial businesses in Tema of greater Accra region of Ghana. The banks
in Ghana, as
well as NGO and the state itself, use to provide them with financial assistance for their businesses but
yet most of them fail in their businesses for unknown reasons. Design/Methodology: The research has employed a descriptive research design since it portrays accurate responses from
MSMEs and owners. Structured questionnaires were used to collect primary data
through direct interviews of
entrepreneurs. However, the entire population targeted for this study was 295.
Slovin’s formula was utilized to compute 200 sample size. 200 respondents were
sampled using a random sampling technique which assisted in proper flow of information
required for the success of the research. The collected data was analyzed using
Statistical Package for Social Sciences (SPSS) and Microsoft Excel. Findings: Results of the research showed that all these economic challenges place
burdens on sources of funding for MSMEs. Research Limitations/Implications: because of the low level educational status
of some of the MSMEs, they were assisted by research assistance to complete some part of the questionnaires. Practical Consequence: The
research explained the various effects established by some of the financial
regulatory constraints. Originality/Value: The
study would assist MSMEs to know and prepare for some of the financial
regulatory constraints that serve as worrying situations to their businesses.