The Impact Of Small Scale Enterprises Financing In Improving The Social Economic Well Being Of Ghana

Background of Research

Small and medium-sized businesses are, internationally, a resource for motivating people and for economic development. SMEs are linked to economic growth in the Asian and North American nations and also play a significant role growth of developed nations like the USA. In Africa, the small and medium enterprise are consider to be most important sectors which account almost 90 % of total business in urban and rural areas. SMEs are really a significant option for people to work and induce nations advancement by fostering entrepreneurial as well as leadership skills between many populations living within a specific country (Savitz, 2013). Governments in Ghana has enabled attempts to reduce deprivation and stimulate economic development by growing foreign investment, expanding the economy, developing policy mechanisms that encourage small company entrepreneurship and at most implementing initiatives for jobs and innovation. To order to be listed as a SME or a micro-enterprise, an organization must meet the conditions for the number of workers and is one of the specific financial standards, i.e. whether the net attrition or the current balance sheet total. In addition, it is also stated that firms must be independent which clarify that if 255 is owned by single party is just out of the definition of SME.

Rationale of Research

The main reason for conducting research on the impact of SMEs contribution on economic development in Ghana was because of general interest of participant's (Adusah-Karikari 2015). All small business have be to be financed equally as they have special operation which gives an immense satisfaction to the customer and help in developing nation economy (Sakyi, Commodore and Opoku, 2015). It is also regarded that SMEs are crucial for economic development as they promote entrepreneurship, reduce poverty and provide more employment which is essential need for every developing country. Throughout the Ghanaian background, the National Board for Small Scale Industry (NBSSI) categorizes SME as a company with sales below US$ 200,000 and equal to no higher that US$ 5 million.

Research Aim

“The impact of small scale enterprises financing in improving the social economic well being of Ghana”. In the context of the importance of small business financing in Ghana, the research aim is to determine the contribution of SMEs to the economic development on nation. 

Research Objectives

• To ascertain the concepts of SMEs financing to improve the social economy of Ghana.
• To recognise the contribution of Small business financing on development of Ghana economics.
• To figure out the Constraints of small business success and growth.
• What is the main concept of Small business financing?
• What is the primary contribution of Small business financing on development of Ghana economics?
• What are the major Constraints of small business success and growth?

Research Questions

LITERATURE REVIEW

Literature review is defined as the crucial part of a research study in which significant information from different sources are collected for making user to easily gets the grasp understanding about the research topic (Pretty, 2013). A review of literary works is an important but in-depth assessment of previous research. It is a description and analysis of a specific research field and helps anyone to read the report and decide how you are doing this particular work. A thorough review of the literature builds on the factors for choosing a specific research issue.

To ascertain the concepts of SMEs financing to improve the social economy of Ghana.

There are many factors that keep a company small and distinguish it from others. Identifying these companies can be challenging, so the main aim of this study is to explain why small businesses are established and how they operate to improve living standards and enhance social environments. Extensive literature exists on the impact of small businesses on national development over specific timeframes. According to the EU, a firm with 250 employees, a turnover of £50 million, and a balance sheet of £43 billion is considered an SME. Many SMEs are involved in globalization, whether they operate locally or globally. Discussing SME growth without considering the globalization of economies and industries has become increasingly difficult in recent decades (Ofori, 2013). SMEs are crucial for job creation and economic growth, fostering innovation, and expanding both local manufacturing and the overall industry. Despite significant efforts by Ghanaian administrations since independence in 1957 to reduce poverty and promote economic development through laws benefiting SMEs, awareness of their role and development in rural areas of Northern Ghana remains limited. SMEs represent about 90% of all rural and urban businesses, offering substantial opportunities to drive national growth by fostering entrepreneurship and leadership skills within communities. For students needing assistance with similar topics, economics assignment help can provide valuable support in researching and analyzing such issues.

Most businesses remain small and casual and then use basic technology which does not require extensive use of another vital infrastructure. SMEs encourage new ideas and new innovations, experience economies of scale, variety environments, industry competitiveness, control power and longevity, and the ability to recruit and maintain talented staff usually rely on modest growth. It is also stated that there cannot be any emphasize on providing a stable funding source for SMEs business. If properly constructed and capitalized, small and medium-sized enterprises have the ability to grow and lead the change with the rapid growth of financial system of a nation. As per Gill and Biter, (2012) viewpoints there must be enough finance which have a essential positive impact on the existence and development of small companies and due to their lack new businesses are not able to succeed (Gill and Biger, 2012). Financial institutions are essential to Ghana's economic growth, principally through their double mobilizing and resource allocation functions (Allison, McKenny and Short, 2013). Capital mobilization includes the collection and regulate of a pool of national and international investments, whereas the capital allocation method aims at channelling these investments for their most efficient use. This enables the manager or owner of small business to find the most suitable option of financing which support in running and managing different business operation (Ochieng, Visseren-Hamakers and Nketiah, 2013). Manager also make sure that these financing option would be effective enough that would not be a burden for them in future.

In Africa, the small and medium-sized businesses industry accounts for nearly 90% of all companies based in both developed and developing countries, offering a more balanced distribution of income across all regions of the country. SMEs in Africa were thus viewed as a very significant driver for meeting regional development targets, like poverty reduction and economic expansion. In Ghana, small and medium-sized businesses are generally categorized as rural or urban. Rural businesses are person craftsmen, pottery individuals, basket weavers, and embroidery factions. Include bakery, woodworking, fabrics and clothing services.

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To recognise the contribution of Small business financing on development of Ghana economics.

In the opinion of Schaper (2002), nations which have created financial advances in the last two generations show without doubt that the growth of entrepreneurialism was the main back bone of economic development and growth. Growth is fundamentally about increasing social well-being, reducing poverty and hunger, and providing sustainable and meaningful jobs for all people (Nyame and Grant, 2012). Small businesses are consider to be the main and most important factor behind a huge number of invention and contribution to the economic development. It has direct relation with the expansion of national economy of a country as it help to develop more and more option of job of young generation, includes more Foreign direct investment and increase the export ratio. In present time, it has been determined that there are number of beneficial scheme which are launched by governance of different nation with the only motive to increase the SMEs. For example Twaiwan governance have launched "Branding Taiwan Program" is a seven-year plan intended to help aspiring small to medium enterprises (SMEs) establish their unique brand. It was launched with full knowledge of SMEs driving ability the economic system especially in the medium to long term. Similarly government Ghana can also certain plans and scheme to reduce the different problems faced by local people and rise the social economic environment. Despite the vital position that small and medium-sized businesses play in promoting global balanced industrial growth, Africa also needs to catch up with the world. Private sector growth is extremely volatile across Africa. SMEs in South Africa, Mauritius and North Africa are developing because of transparent and advance financial system and financing option as well as policies of governance which help in developing SMEs. The corporate market in Africa is essentially uncontrolled micro-enterprises, working alongside big companies. Many businesses remain tiny since the corporate market is young and that there are legal and financial barriers to capital accumulation (Adom, 2014). The lack of availability to financial products is a vital restriction to most small companies in Ghana. In Africa, the option of SMEs within the industrial segments are depended upon the different propositions such as large scale industry, Small and medium scale companies and must be labour intensive, making work of more worker per unit. Interestingly small businesses make greater use of limited resources than big-scale companies. The explanation for that is not hard seeing, SMEs are employment-intensive with little invested capital. Therefore, it's been claimed that fostering the SCE industry in underdeveloped countries like Ghana would generate further job opportunities, contribute towards a more equal distribution of income and achieve higher productivity through improved technology. Consequently, they appear to experience higher productivity of wealth which is also an economically sensible expenditure (Konadu-Agyemang, 2018).

The NBSSI is the main governance regulatory body in Ghana which is responsible for the expansion and growth of medium and small scale companies. The government considers the industry as having the ability to make a significant contribution to lowering high unemployment and to the development of Ghana's economies. SMEs make up a significant portion of Ghana's business activity and can play a major role in reaching the output goals and objectives. The long-term objective is for small and medium companies to optimize their participation to the economic and social development of the nation in terms of manufacturing, distribution of income and employability, and the greater integration of people and women with the nation's economy in rural communities. Though established world markets might be declining because of the current economic and financial problems. Ghana's size of the market is increasing and prospects throughout Africa are indeed starting to look promising for small and medium-sized businesses in the retail, food service, pharmacy, IT, agriculture and manufacturing industries. SMEs in Ghana's main responsibilities are in agricultural production, production, trade and service. Consequently, small and medium-sized enterprises have an important major role in promoting growth, creating employment and helping alleviate poverty in Ghana. It is also stated that Ghana has reported that small and medium-sized businesses compensate for 92 per cent of all companies in Ghana and generate around 70 per cent of the country's GDP. Today, SMEs compensate for more than 75 per cent of total jobs in the nation. Given the introduction of oil and gas in Ghana, the percentage of SMEs is rising. This is because in the recent time there have been number of policies and standeard which are made by the governance of Ghana for companies which are dealing in oil production activities. In recent time, September 2019 Ghana produced 203 thousand barrels of crude oil a day. Ghana's crude oil production rose from 110,000 barrels per day in October 2014 to 203,000 barrels per day in September 2019, increasing at an annual average pace of 2.86%.

To figure out the Constraints of small business success and growth.

Due to the vast market reforms in the African region, small and medium-sized enterprises face a range of limitations such as Lack of scope and scale in main development variables, and higher production cost of operation to smaller companies (Glemarec, 2012). Some of the main constraints are discussed underneath:

• Input Constraints: SMEs experience a number of restrictions on their factor market. However, the many important restrictions have been the supply and expense factor. The particular problems varied by region, but many of them were linked, depending on whether the client considered their access, quality or cost to be the most important issue and whether they were primarily supported or national inputs. Such as in Ghana small and medium-sized enterprise have been facing the problem of high cost on attaining the raw material which might because of improper money management or lack of cash flow understanding.
• Finance: Manage and assess to finance is continued to remain a strong limitation on the part of Ghana's small companies (Giese and Thiel, 2014). This arises from the fact which SMEs have restricted access to resources economies, local and international, in portion due to increased risk belief, information obstacles and higher traditional banking costs for smaller companies. As just a result, small and medium-sized entities can not receive long-term investment funds financing. Most SMEs are viewed as unsafe businesses so many financial companies consider investment banking for SMEs more challenging. However, many funding programs for SMEs still operate in Ghana, including GRATIS, FUSMED, NBSSI/BAC and MASLOC. Many micro finance organizations like Pro Credit and Sinapi Aba Bank today also support small to medium-sized companies.
• Equipment & Technology: SMEs are struggling to gain exposure to relevant solutions and knowledge on available strategies. It inhibits creativity and productivity for small and medium enterprises. In most African states, including Ghana, the obstacle remains to connect native peoples small businesses with international investors and to accelerate technical upgrades. The rural and urban regions have an achievement gap. Without any electricity supply in many other rural areas, Connectivity in any company is next to difficult. Therefore, although technological innovation is intended to bring about economic reform in rural areas, it does not seem to respond to the rural businesspeople sufferings.
• Domestic Demand: Latest economic reforms have resulted in a reduction in the government's position in productive work but a revived private sector investment has established new possibilities for SMEs. However, limited access to government agreements and sub contractors, resulting from complicated bidding processes and lack of knowledge, prevents SMEs from participating in those markets (Fowler 2013). Ineffective networks of allocation, often controlled by larger companies, also pose significant constraints to industry direct exposure for SMEs. As for Ghana, demand limitations have restricted the development of SMEs.

Therefore, regulatory constraint have also impact on the small companies such as higher beginning-up costs for businesses, such as the requirements for licensing system, will impose unnecessary and excessive strains on SMEs. The rising costs of prosecuting legal actions and lengthy gaps in judicial proceedings negatively affect small and medium sized businesses. Absence of management know-how imposes major restrictions on the growth of SMEs. Although small and medium-sized enterprises tend to draw disciplined administrators, they can not remain competitive with larger companies. The lack of managerial expertise, which is widespread in most of the region's nations, seems to have an overstated effect on SMEs.

CHAPTER 3: RESEARCH METHODOLOGY

Research types: Research is important to find out which treatments work better for patients. It plays significant role in discovering new treatments and assure that using data in best possible manner. It is categorised in two types such as:

• Qualitative Research: It is outlined as a market research method that concentrate on generating information by open ended and conversational communication. Through this research understand reason, views and encouragements (Shen, Muduli and Barve, 2015).
• Quantitative Research: This research methods are designed for bring out as well as thoughts of target audience with reference to a particular topic. It is utilised to by researcher to determine the issue by way of collecting numerical data that can be converted into useful statistics.

In order to collect information conduct quantitative research in which collect numerical data and analysis facts about small enterprises.

Approach for Research: It is a plan & procedure where involves particular steps of wide predication in detailed manner for the collection of information, determination and interpretation. There are mentioned two type of approaches in the context of small business research such as:

• Inductive Approach: This approach apply be researcher to collect data which is related with particular topic of research. There are consisting of search of pattern by observation and the developments of analysis theories. 
• Deductive Approach: In this research afraid with developing a hypothesis based theory after that designing a research strategy to attempt the hypothesis.

There are selecting inductive approach to collect actual information for the research.

Philosophy of Research: A research philosophy is belief that it is a way in which data related with the phenomenon should be collected, determinates and utilised. It is classified into two forms like philosophy of science which is positivism and interpretivism. To collect information about small scale financing and their impact on social economic activities (Teschner, 2012). The interpretivism approach applied by researcher to collect information through interview as well as observation. In positivism philosophy consist of natural phenomena and relations so all the information traced from experience. To conduct research, researcher select interpretivisim philosophy to take right decision.

Data Collection Tools: To conduct research require to different types of methods that helps to collect information and help in research. There are defined different types of methods underneath:

• Questionnaire: In this method researcher prepare sample question in regard of research topic and asking question from the public and know their views (Stewart, 2016).
• Observation: This method applied by the researcher for the sociological research in order to determine responses of questionnaire which is related with thinking of people and do as revealed by what they put on paper.
• Interview: It is another technique of data collection that is apply by mostly researcher for every field of social research. It is more flexible tool which is written inquiry forms and accept explanations and fluctuation as per the situation. 

From different tools researcher select questionnaire method to collect data for research and use for further work.

Time Scale: To conduct the research require some time so for this require to complete research in articular set time from the beginning to finishing. Every activities present in the Gantt chart that is important tool and for this require about 2 months.

Techniques and procedures and research instrument: A questionnaire is a method of research that involves different types of questions or different kind of question that mainly utilised by researcher with reason in which can be qualitative and quantitative. Using this instrument by researcher to collect information in regard of small level finances. 

Data sources: It is required to collect data from different sources which is categorised into two forms such as primary and secondary.

• Primary source: There are consisting of those information which are collecting by researcher directly by observation, focus groups and interviews.
• Secondary source: In this source collect information by internet, research articles, library searches etc.

The researcher select to primary sources to collect information for this apply data collection method of questionnaire (Tsikata and Yaro, 2014) .

Data collection:It is a procedure of collecting and measuring data on variable of interest which is established in systematic manner that allows one answer begin from research question, test hypothesis and analysis results. Data collection part of research in which all fields study about the physical and social science discipline etc. The data collection based on the primary and secondary information in which primary information researcher collect information own self and in secondary use past information. The researcher collect data through primary resources to know about small level financing and impact on social activities in Gahna.

Research sampling (30 respondent): It is mainly categorised into two sections like probability and sampling of non probability. For this research, researcher select the method of non probability in which select particular sample group from the population. According to this approach focus on timing, cost and work force. While, probability sampling is not suitable method according to timing and abilities of researcher (Yeboah, 2015).

Research ethics: Ethics are moral principles in which different person must follow regardless place or time. In research ethics concentrate on the moral principles in which researcher must move for particular fields of research. There are important research ethics that follow by people like secrecy and security.

Research limitation: It is analysed that there are different types of drawback that come in this research when collection data about particular topic from the respondents. It supports to a researcher in performance of each and every activity in effective way to get suitable outcomes.

Research reliability and validity: It is essential that at the time of research must focus on the reliability and validity. It is mainly based on the questionnaire which is part of the collection method. Many respondents provide wrong information so researcher must cross check about the data and try to collect accurate and actual data (Teschner, 2013).

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CHAPTER 4: DATA ANALYSIS

The methodology of calculating and analysing appropriate details utilizing different analytical and insightful methods and describing why all components of the information received are best evaluated in the business circumstance is known as data analysis (Donkor, 2019). It is acknowledged that data is collected, post-checked and analysed for a given topic in order to reach a viable solution or decision. There have been various valuable methods, like data analysis, data visualization, text processing and data management, to conduct the process of data analysis that allows to achieve the maximum outcomes acceptable for a particular subject. This section of the research is anticipated to become the most fundamental component which demonstrates the intent and implications of the project correctly. The principle of data analysis is important for the current research, since it involves different phases that aid in producing significant results. Such steps include data modifying, quality evaluation, quality assurance and consolidation of tests, use of statistically significant approaches and accurate evidence representations. In order to complete the particular research on The impact of small scale enterprises financing in improving the social economic well being of Ghana 30 respondent are selected.

Questionnaire

Data Distribution

Theme 1: SMEs Financing.

Interpretation: The above graph and tables shows that most of the respondent selected for the research state that they have enough idea about small scale financing. From 30 candidates 20 believe that SMEs financing is a crucial task in the developing country like Ghana that help in adding several kind of opportunities and possibility of growth. While remaining member believe that financing for small or new business would increase the liabilities for an individual which cloud lead to negative impact on the living in case if business fails of profit are not appropriate.

Theme 2: Role of SSEs

Interpretation: It has been determined front the above tables that people have a good knowledge and understanding about the concepts of SMEs. As when research ask the question about the main role of SMEs financing there were positive responses from the selected candidates. 12 member thinks that SMEs have the main role of improving the credit facilities and strengthening the financing infrastructure services in developing countries. 10 respondent assumes that availability of fund are always the main duty of SMEs financing while 8 people thinks that unlocking the sources of capital was the key role which help in several kind of improvement. 

Theme 3: Contribution to economic development

Interpretation: The above graph is effective enough to define that SMEs have a major contribution towards the economic development of Ghana. 18 people thinks that small medium enterprise have a positive impact on the development and growth of Ghana by providing number of useful services and product which would add value to the life of population living in country. As well as it also increase the domestic trade and have a greater contribution to the nation GDP. On the other side 12 people believe that development of Small business would be adverse to the nation as it would increase the pollution level and pollute the air, water as well as land. In addition SMEs also lead to exploitation of resources and new business tries different things to make profitable business due to which they disturb the ecosystem.

Theme 4: Development of economy.

Interpretation: In the above graph it is clearly defines that respondent have a strong believe in the SMEs contribution towards the economic development of Ghana. Different candidates have different viewpoints such as 15 thinks that it help in resolving the issue of poverty as well as gives more option of food stuff that make people to eat unique goods at lower cost. In addition 8 persons have a strong believe that SMEs have a major role in providing sustainability to the financial structure of whole nation and 7 candidates thinks that it also help in improving the social well being that grows the economy (Fening, 2012).

Theme 5: Employment opportunities

Interpretation: On the basis of above questionnaire, it has been determined 25 people have a strong believe with the facts that small companies and new start ups have a crucial part in growing employment opportunities. This is because SMEs requires enough staff member to run various operation and make availability of services and product to the customer. This also gives chance of growth to local producers and manufacture and business have to make availability of raw material at lower cost. Some respondent are not agreed with the facts due to different viewpoint as they thinks it just damage the natural surrounding. 

Theme 6: Industrial development

Interpretation: In the viewpoints of researcher it is determined from the above graph that there is a positive reason for underlining the Micro and Small Scale Enterprise in Industrial Development of Ghana. It is strongly believe by the people that small companies gives more and more employment chances for the new generation, it also plays significant role in the developing the national economy and growth. It is also observed by the researcher that 10 people assume that it also increase the GDP of a country while giving better option of revenue generation and improving the import and export services.

Theme 7: Major Obstacles

Interpretation: From the above tables, it has been founded that there are number of obstacles which are faced by the SMEs in Ghana. 8 people assume that financial restitution are the main reasons behind the decline growth of SMEs in developing nation. 6 candidates thinks that high tax rate, 5 respondent assumes that lack of proper transportation services are consider to be the major problem faced by new companies in Ghana (Demirgüç-Kunt and Klapper, 2013). On the other side 11 people strongly believe that due to political instability SMEs are not able to succeed and grow in respective nation.

Theme 8: Constraint to growth of SMEs

Interpretation: According to the above question, it is clearly determined that different type of constraint have a negative impact on the development of small business in Ghana. Such as 6 candidates assume that input constraint are the main, 10 strongly believe that finance constraint are the main reasons of decline development of SMEs. It is also observed by investigator that 8 candidates thinks that managerial constraint and regulatory constraint have a major negative impact on the decrease growth of small companies in respective country.

Theme 9:  Institutional and Government Support

Interpretation: The above graph clearly discuss that there have been strong governmental and industrial support to SMEs in Ghana. 16 candidate thinks that government have developed number of effective scheme and policies for SMEs which help owner in easy establishment in Ghana. Government have make sure that there will be specific land allotted for the development of new companies which would not impact the living hood in country. It is also determined that 14 respondent believe that in sometime government of Ghana will totally ban the development of new and small business as it disturb the entire working scenario.

CHAPTER 5: DISCUSSION

This analysis segment is a summary of what this thesis was trying to examine, what are actual results, what assumptions are made from the studies and what suggestions can be produced (Blaikie, P., 2016).First, despite multiple benefits of small and medium-sized enterprises in terms of job formation, GDP output but as the catalyst for economic development, small and medium-sized enterprises do not yet provide the necessary funding to achieve these goals. From the above discussion it is also determined that micro loans are also given to SMEs that are best credit facilities and is also regarded main solutions offered to insufficient resources to small companies. Governments and policy specialists also acknowledged SMEs as main engine of economic development as well as a significant factor in the promotion of the production and cooperation of the private industry. The advancement of the small and medium-sized businesses sector therefore constitutes an important element in the development strategy for most countries and is of special importance throughout the case of Ghana. SMEs not just to lead to higher standard of living, job creation and poverty alleviation but also offer significant domestic resources and higher productivity rates. Small companies are constantly regarded from a preparation point on as the primary means of achieving balanced and competitive economic long term growth and development. Small company viability and survival could be the explanation why participants tend to support setting up similar companies somewhere else in the area. Small company viability and survival could be the explanation why participants usually support setting up businesses somewhere else in the area (Atkinson and Messy, 2013). Governments in Ghana also tried to tackle the issues of small and medium-sized businesses, which suggests that policymakers have always recognized the important role and importance of SMEs as the potential treatment of economic growth and progress. The above research also help to figure that that SMEs reflects the major emphasis sub-sector in any significant economic transformation plan aimed at generating jobs, eliminating poverty, food safety, rapid urbanization, and curbing rural-urban immigration. From the questionnaire it is also founded that most of the respondent are agreed with the facts that small business financing would lead to the overall immense success to growth of GDP. It also encourages development by promoting competition and business skills across communities and increasing both the local production sector and the market as a whole. Many companies stay small and informal, and use advanced technology that does not entail the intensive use of such a key infrastructure (Angelucci, Karlan and Zinman, 2015). 

Chapter 6: Conclusion and recommendation

To ascertain the concepts of SMEs financing to improve the social economy of Ghana.

In conclusion it is stated that local customer shop at small businesses which are located within communities, so on specific income SMEs pay tax and these tax dollars stay within the local economy. This contribute directly to improve the community as a result. Small businesses are job creators and most of those jobs are for local people. Rather than having to commute to another city it provides benefits to employees to work closer to home.Small and medium scale enterprise is important for contributor for the improvement of Ghana as point out through outcome in the particular research. Therefore, use of family labour and unconcerned employees to subvert the future advantages of such businesses. It can not be deuced solely on the entrepreneurs due to try for reducing cost which is mainly related with the preventive amount of usage. The facts are presenting in presence of SMEs change the infrastructure improvement which has not supported through study when respondents disagreed about the construction of road and other developmental projects related to particular community that is related with the outcome of SMEs. The profitability of small business become reason of increase employment, GDP rate and many other things. The small scale enterprise financial show positive impact in every manner because it is beneficial for government and increase economical and social activities. As per the overall analysis it is finding that SMEs are essential for entrepreneur due to economic & social growth in Ghana. The outcomes of particular study are mainly work with existing theories in selected field and repeat link under performance and organisational cost of entity to government activities and inactions.

To recognise the contribution of Small business financing on development of Ghana economics.

In the conclusion, policy actions should include better information provision regarding the various sources of finance. This could involve the financing initiatives pursuing a more aggressive and continuous marketing communication campaign to inform SMEs of the various financing schemes available to the sector. As per the research it is recommended that SMEs in Ghana have a long way to go for particular sector which is related, productive and play essential role as per the expectation and contribution for the growth and improvement of economy of Ghana. The SMEs face different types of challenges in the business which are irresistible and handle by particular approach by the every stakeholders. In the context of SMEs impact on the government, tax director, banks, regulatory authorities, the staff members, small level agencies and many others. The government get benefits through SMEs due to enhanced entrepreneurship to educational system to create it more functional, relatable and work oriented and driven. These are impacted on the advanced technology and studies of entrepreneurship with aimed of producing businessmen. There is applying changes in culture, atmosphere and value system in context of Ghananaians attitude, motivation, ethics which is required for the making better nation than in present time. The education system is mainly started with primary and secondary tertiary that impact on the cultural activities and concentrate on the system studies by the different stages. For this required to technological and entrepreneurial studies which is autochange or local dialect to assure about the understanding and motivate to students. The particular method use to increase fast and full combination of new beliefs into the culture of these young impressionable Ghananians.

To figure out the Constraints of small business success and growth.

In end of report, it is concluded that different problems and constraints faced by SMEs can be resolved such as projecting cash flow for the year which help to detect the entire position of cash. Time must be traced properly and there must be specific spending to accomplish tasks and manage that time to eliminate the minutes lost on unproductive task and activity. A change in value system that take place due to high premium and identify of entrepreneurial perspicacity, loyalty and capability to make effort for society through intervention or possibilities of employment for local people. There are enhancing quality of leadership and likes to introduced the particular educational system that related with the technological thrust. In the context of vein, civics, war for corruption and many other things introduced by primary and secondary sources through educational system with system and technological studies. It is required for government to remap the SME sector of economy to deduct the growing unemployment rate in the nation that helps to reduce poverty level, increase standard of living and estimate about the economic growth and improvement. Ghana can not develop without a spirited SME sector so require to provide finance to these companies who wants to start their business and chances to get success in future. Government should readily and freely analysis prospective of entrepreneurs in order to analysis different information which is related with business opportunities, advance technology, market, raw material, plant & machinery.

Chapter 7: Alternative method and reflection

As per the above study, selecting different research methodologies to collect information on small business financing and examining business motivation has provided insights into the differences between primary and secondary research. For this research, working in a team and studying various topics has been crucial in developing specific study skills. I have enjoyed applying academic concepts and ideas, which I used to conduct this research. To work on this topic in the future, it is essential to collect information systematically for higher efficiency and to meet the required objectives. Working well in a team and presenting new concepts to achieve study goals is vital. To organize the research effectively, I have applied conceptual ideas related to academic books and professional analysis in all areas where data was collected. Additionally, exploring more sources to gather comprehensive information is important, as fewer sources can create problems. Using a thesis statement generator can aid in clearly articulating research objectives and organizing findings. This approach directly impacts performance and helps overcome challenges encountered during the research process.

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