Abstract:
The study analysed the financial options for small and medium scale enterprises in Ashanti Region. It specifically identified the role of the non-banking financial institutions as an alternative means for finance for SMEs in Ashanti Region as a whole. It also determine the source of finance for SMEs in Ashanti Region, examine the type of products of the savings and loans companies in Ghana, the challenges that are faced by SMEs and how to improve the lending of money to SMEs by the savings and loans companies.
Description:
Small and medium-sized enterprises (SMEs) are the backbone of economies in advanced industrialized countries, as well as emerging and developing countries, as they are a key source of economic growth, innovativeness, and poverty reduction. SMEs constitute the dominant form of business organization, accounting for over 95% and up to 99% of enterprises depending on the country (Taddesse, 2010).
