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There are other subsidiary objectives, with which managers’ understanding about AIS is questioned,
and an attempt is being made to relate organizational governance and performance with
organization’s AIS capacity. Prior empirical studies in Ghana have shown that female-owned SMEs
often have difficulty accessing finance. Given the current hikes in prices of goods and services in
Ghana, the respondents declared that the future of the commercial water industry is not promising
hence calling for political will and timely intervention by appropriate stakeholders. SMEs often fall
into two categories, that is, urban and rural enterprises. Placing your products or services online
gives you a bigger platform to showcase your shops and increase revenue. These centre mainly on
the apparent inconsistencies between defining characteristics based on number of employees and
those based on managerial approach. The value of fixed assets in the firm has also been used as an
alternative criterion for defining SMEs. Competition In the absence of competition, there is always
complacency. This study suggests that, to improve access to credit to SMEs, entrepreneurs should be
encouraged to form cooperatives since financial institutions believe peer pressure often reduces the
risk 26 International Research Journal of Finance and Economics - Issue 39 (2010) of default,
Secondly, the government through tax incentives can encourage certain training institutions and
NGOs to provide training to entrepreneurs on simple record keeping and managerial know-how.
Based on the conceptual framework these hypotheses are generated: H1 Internal source of finance is
positively correlated to SME growth. In defining small-scale enterprises in Ghana, Steel and Webster
(1991), and Osei et al (1993) used an employment cut-off point of 30 employees. Governments at all
levels have undertaken initiatives to promote the growth of SMEs (Feeney and Riding, 1997).
Besides, despite the numerous institutions providing training and advisory services, there is still a
skills gap in the SME sector as a whole (Kayanula and Quartey, 2000). Section three discusses the
characteristics of SMEs in developing countries. These enterprises operate in the formal market and
have access to technology. Image supplied Ninety percent of registered businesses in Ghana are
SMEs according to the Registrar General’s Department as noted by Graphic Online. This paper is a
literature review targeted at analyzing the following statement: whereas the world is slowly moving
from feminism to postfeminism in search for gender equity, there is still a big challenge in advancing
the same gains to every global culture. Partnership business is allowed in both USA and saudi arabia.
Let us write or edit the research paper on your topic. It is important now to examine definitions of
SMEs given in the context of Ghana and South Africa. 2. 1. The Ghanaian Situation There have been
various definitions given for small-scale enterprises in Ghana but the most commonly used criterion
is the number of employees of the enterprise (Kayanula and Quartey, 2000). Retailing is mostly
found in urban regions, while manufacturing can be found in either rural or urban centres. Over the
years, many graduates complete school with the main aim of landing white-collar jobs, earn a decent
salary and build a life from there. Small enterprises in Ghana are said to be a characteristic feature of
the production landscape and have been noted to provide about 85% of manufacturing employment
of Ghana (Steel and Webster, 1991; Aryeetey, 2001). In Ghana and South Africa, SMEs represent a
vast portion of businesses. June was further considered because the business partnership has chosen
the same Month to Launch 50 Start-Up SME Centres (SSC) in all 16 regions of Ghana. Keywords:
Packed Water, Motivational Factors, SMEs in Ghana, Challenges, Prospects, Economic Development
Download Free PDF View PDF Growth and constraint analysis of micro and small scale agro
enterprises in Accra, Ghana Joshua Aboah Micro small enterprises make up a significant portion of
the private investments in the agro-industrial sector of Ghana. Secondly, whereas a national
legislation defines an SME in South Africa, no such Act exist in Ghana. SMEs are more labour
intensive than larger firms and therefore have lower capital costs associated with job creation
(Anheier and Seibel, 1987; Liedholm and Mead, 1987; Schmitz, 1995). Storey (1994) tries to sum up
the danger of using size to define the status of a firm by stating that in some sectors all firms may be
regarded as small, whilst in other sectors there are possibly no firms which are small. In the Republic
of South Africa, it is estimated that 91% of the formal business entities are SMEs.
Nuzula Muhammad Khalid Mawardi Business, Economics Profit 2021 This study attempts to explain
the influence of orientation entrepreneurship and financial access on their performance. However, it
is dependent on all stakeholders to identify the right opportunities and leverage e-commerce in order
to maximize this potential. Kristof's story may be seen through the prism of Plato's Cave where
ignorance and lack of exposure play a critical role in determining the manner in which people
perceive realities and illusions. The results were analysed using structural equation model-partial
least square. Partnership is a form of business arrangement owned by two or more people. Akoena
Augustine F. Gockel Economics, Business 2002 Based on Ghana’s experience with financial
liberalization, investigates how access to finance by micro, small and medium scale enterprises have
been affected by financial sector reforms. There is great potential for SME growth and development
here in Ghana. Governments at all levels have undertaken initiatives to promote the growth of SMEs
(Feeney and Riding, 1997). Finance is said to be the “glue” that holds together all the diverse aspects
involved in small business start-up and development (Green et al., 2002). 6. 0. Conclusion This paper
has reviewed various definitions of SMEs and also discussed the characteristics, contributions of
SMEs to economic development, and the constraints to SME development. Although the is a bigger
customer audience online, SMEs have to be at the top of their games to possess a great share of the
market. Researchers would have to use definitions for small firms which are more appropriate to
their particular “target” group (an operational definition). The study revealed that most of the SME
operators in the industry are motivated by the drives for income generation and job creation. It takes
longer (176 days) in South Africa and there were 18 procedures involved in dealing with licensing
issues. The paper provides some relevant recommendations to policy makers, development agencies,
entrepreneurs, and SME managers to ascertain the appropriate strategy to improve the SME sector in
these countries. The findings revealed that AK and RKP have strong positive correlations with
organizational performance while MS has a positive but moderate relationship with the reported
profitability of those SMEs. Yet few attempts have been made to investigate the factors that
influence alignment, especially in the context of small and medium sized firms (SMEs). Okiro
Business, Economics 2018 Purpose: SMEs have been recognized as being great contributors to the
Kenyan economy offering both employment and a platform for innovative ideas. Descriptive survey
was adopted as the main research design. Despite of it, these enterprises are bedeviled with a whole
lot of constraints. One important problem that SMEs often face is access to capital (Lader, 1996).
See Full PDF Download PDF See Full PDF Download PDF Related Papers Chasing credit: The bane
of small and medium scall enterprises in Assin North Municipality, Ghana. However, in applying this
definition, confusion often arises in respect of the arbitrariness and cut-off points used by various
official sources. How many people will walk into your physical shop in a day as compared to the
millions of people likely to see your product online. This helps create a good portfolio and gives the
financial institutions confidence that these SMEs are eligible for the loans requested.
Entrepreneurship therefore becomes imperative for providing self-employment to the entrepreneurs
and other youth. One criteria followed by the SME Development Center is to have less than or.
Secondly, whereas a national legislation defines an SME in South Africa, no such Act exist in Ghana.
Princess Salamah was born and Her father, ruler of Oman and east Africa, had many wives, dozens
of children, countless visitors and army of slaves. Millinuex, A. W. 1997. “The Funding of Non-
Financial Corporations (NFCs) in the EU (19711993): Evidence of Convergence”, Mimeo,
Department of Economics, University of Birmingham. The study also observed that SMEs constitute
a vital element of the development process, and their contributions in terms of production,
employment and income in developing countries is widely recognized.
One criteria followed by the SME Development Center is to have less than or. Hence, interest in the
role of SMEs in the development process continues to be high on the agenda of policy makers in the
two countries. This study suggests that, to improve access to credit to SMEs, entrepreneurs should
be encouraged to form cooperatives since financial institutions believe peer pressure often reduces
the risk 26 International Research Journal of Finance and Economics - Issue 39 (2010) of default,
Secondly, the government through tax incentives can encourage certain training institutions and
NGOs to provide training to entrepreneurs on simple record keeping and managerial know-how.
Measures of enterprise efficiency (e. g. labour productivity or total factor productivity) vary greatly
both within and across industries. Consequently, their understanding and implementation of the
decision regarding AIS also differs. Besides, despite the numerous institutions providing training
and advisory services, there is still a skills gap in the SME sector as a whole (Kayanula and Quartey,
2000). However, in applying this definition, confusion often arises in respect of the arbitrariness and
cut-off points used by various official sources. They are able to withstand adverse economic
conditions because of their flexible nature (Kayanula and Quartey, 2000). Finally, the EC definition
did not assume the SME group is homogenous; that is, the definition makes a distinction between
micro, small, and medium-sized enterprises. June was further considered because the business
partnership has chosen the same Month to Launch 50 Start-Up SME Centres (SSC) in all 16 regions
of Ghana. Therefore, the writer of the document will investigate how technology influences the
directions of knowledge development within society. These female entrepreneurs often get the
impression that they are not capable of taking advantage of these credit schemes, because the
administrative costs associated with the schemes often outweigh the benefits. The government must
create relaxed credit policies that support the development of entrepreneurship by simplifying loan
conditions, ease the registration processes for SMEs, lower and reform the tax systems, engineer
effective price stabilization policy and create flexible customs and port regulations, while
maintaining transparency and accountability among public officials in charge of SMEs regulation.
The most commonly used is the number of employees of the enterprise. Secondly, the use of 100
employees as the small firm’s upper limit is more appropriate, given the increase in productivity over
the last two decades (Storey, 1994). The lack of managerial know-how places significant constraints
on SME development. This is despite the fact that SMEs have a really great developmental
potential.( Publishing Research Consortium,2009) Though SMEs exist all over the world and in large
numbers, there is still no concrete definition for SMEs due to various practical reasons. Matriculation
is an important stage in the educational life of a student. It must be emphasized that debates on
definitions turn out to be sterile, unless size is a factor which influences performance. The Bolton
Committee applied different definitions of the small firm to different sectors. In terms of activity,
they are mostly engaged in retailing, trading, or manufacturing (Fisher and Reuber, 2000). SMEs
often fall into two categories, that is, urban and rural enterprises. This should be complemented with
steps to minimize the legal procedures involved in doing business in both countries. This paper is a
literature review targeted at analyzing the following statement: whereas the world is slowly moving
from feminism to postfeminism in search for gender equity, there is still a big challenge in advancing
the same gains to every global culture. Latif Published 2017 Economics, Business European Journal
of Business and Management Notwithstanding all factual and empirical evidences attesting that
SMEs are the engine of growth of every economy around the world, Ghana is yet to experience the
heaviest wave of growth propelled by these SMEs. Literature shows that AIS alignment is influenced
by organizational characteristics, individual characteristics and situational factors which affect SMEs
performance. Technology has influenced not only society; it has shifted accents from technology as
a means of development to technology as a core issue of the society. SME development can
encourage the process of both inter and intra-regional decentralization; and, they may well become a
countervailing force against the economic power of larger enterprises. The study adopted the survey
research design, which involves the collection of data from the Accounting department of SMEs in
Nigeria. Primary data was employed and copies of questionnaire were administered to respondents
for the purpose of this study.
The study sought to examine whether microfinance credit facilities contribute to the growth of the
SME sector in the Cape Coast Metropolis of Ghana. It is important to caution that the process of
valuing fixed assets poses a problem. It is recommended that government should create an enabling
environment for financial institutions and other government agencies to advance more of these
facilities to people in the SME sector. The definitions of SMEs within the context of Ghana and
South Africa were also examined, given that this paper focuses on these two countries. Gulf areas in
general and Saudi Arabia in particular, is an oil rich region with the economy being driven by the
large oil producing organizations. The study was quantitative and primary data comprised 382
owners who were conveniently sampled for the study. Momanyi Business, Economics 2017 The
purpose of the study was to therefore evaluate the factors affecting loaning of small businesses.
Given that most SMEs are one-person businesses, the largest employment category is working
proprietors. SMEs in Ghana and South Africa have a lot of similarities in terms of their
characteristics as well as the vital role they play in the two economies. A priori, it might seem
surprising that finance should be so important. Nyarko Download Free PDF View PDF Chasing
Credit: The bane of SMEs in Assin North Municipality,Ghana Dauda Suleman Download Free PDF
View PDF To Start or to Grow: the Survival Dilemma of Small and Medium Scale Enterprises in
Ghana: a synthesis of literature DR. JAMAL MOHAMMED This paper was an incursion into
literature, synthesizing the view point of experts as it relate to the operations of Small and Medium
Scale Enterprises (SMEs) in Ghana and in Tamale Metropolis in particular. They usually acquire
foreign licenses, because local patents are difficult to obtain. For instance, the relationship between
size and performance matters when assessing the impact of a credit programme on a target group
(Storey, 1994). Daskalakis Economics, Business 2010 In this paper I investigate the level of access
of the opaque micro and small firms to finance. Storey (1994) tries to sum up the danger of using
size to define the status of a firm by stating that in some sectors all firms may be regarded as small,
whilst in other sectors there are possibly no firms which are small. Retailing is mostly found in urban
regions, while manufacturing can be found in either rural or urban centres. Development of SMEs in
Africa holds the key to a Continent at the verge of its historic andunprecedented development. A
large portion of the SME sector does not have access to adequate and appropriate forms of credit and
equity, or indeed to financial services more generally (Parker et al., 1995). In competing for the
corporate market, formal financial institutions have structured their products to serve the needs of
large corporates. The study then investigated some factors that might be associated with a small
firm's level of AIS alignment. These enterprises have been recognized as the engines through which
the growth objectives of developing countries can be achieved. Employment One important area of
growth for SMEs in Ghana in the area of employment. Smallbone D. North Business, Economics
1995 DAVID SMALLBONE IS THE HEAD OF THE Centre for Enterprise and Economic
Development Research and David North is Reader in Local Economy at Middlesex University,
United Kingdom. Placing your products or services online gives you a bigger platform to showcase
your shops and increase revenue. Aryeetey, E. 1998. “Informal Finance for Private Sector
Development in Africa”, Economic Research Papers No. 41, The African Development Bank,
Abidjan. This opens the way for these SMEs to then also absorb other skilled people who may not
necessarily have their own businesses. The study also observed that SMEs constitute a vital element
of the development process, and their contributions in terms of production, employment and income
in developing countries is widely recognized. The study revealed empirically that some constraints
(i.e. high cost of production, insufficient government support) hinder performance of agro MSEs
whilst others (i.e. insufficient government support, high cedi depreciation rate, lack of collateral)
impede the growth potential. How do SMEs in Ghana compare with their counterparts in South
Africa and what policy lessons can be drawn for both countries to enhance the contribution of the
sector remains the focus of this paper. A mismatch in skills means that many young people cannot
secure jobs. This helps create a good portfolio and gives the financial institutions confidence that
these SMEs are eligible for the loans requested.
The lack of support services or their relatively higher unit cost can hamper SMEs’ efforts to improve
their management, because consulting firms are often not equipped with appropriate cost-effective
management solutions for SMEs. However, the extent of involvement of a country in manufacturing
will depend on a number of factors, including, availability of raw materials, taste and consumption
patterns of domestic consumers, and the level of development of the export markets. In defining
small-scale enterprises in Ghana, Steel and Webster (1991), and Osei et al (1993) used an
employment cut-off point of 30 employees. Five-scale based questionnaire along with descriptive
statistics techniques were used to collect the feedbacks of the target respondents and to analyze the
result. From this paper, there is the need for government to create conducive business environment
purposely for Small and Medium Scale Enterprises smooth operation and TVET institutions such as
Polytechnics now Technical Universities and Technical Institutions should play a crucial role in
boosting the survival and growth of Small and Medium Scale Enterprises in Ghana. Storey (1994)
tries to sum up the danger of using size to define the status of a firm by stating that in some sectors
all firms may be regarded as small, whilst in other sectors there are possibly no firms which are
small. In view of the fact that SMEs make up a big proportion of the firms in Ghana, they play an
important role in the growth of the economy. SMEs get to learn new techniques, meet partner brands
and expand their businesses with the training and guidance from experts in the online retail industry.
Semantic Scholar is a free, AI-powered research tool for scientific literature, based at the Allen
Institute for AI. A Further Assignment for Financial Sector Policy? ”, IFLIP Research Paper 02-6,
International Labour Organisation. Graham, D. and K. Quattara, 1996. Report on Rural Finance in
Two Provinces in South Africa, Prepared for the Development Bank of Southern Africa. Green, C.
J., P. Kimuyu, R. Manos, and V. Murinde, 2002. “How do Small Firms in Developing Countries
Raise Capital. SMEs in Ghana and South Africa have a lot of similarities in terms of their
characteristics as well as the vital role they play in the two economies. Rural enterprises are largely
made up of family groups, individual artisans, women engaged in food production from local crops.
Researchers would have to use definitions for small firms which are more appropriate to their
particular “target” group (an operational definition). The rest of the paper is organized as follows:
Section two reviews the various definitions of SMEs. Princess Salamah was born and Her father,
ruler of Oman and east Africa, had many wives, dozens of children, countless visitors and army of
slaves. To browse Academia.edu and the wider internet faster and more securely, please take a few
seconds to upgrade your browser. How many people will walk into your physical shop in a day as
compared to the millions of people likely to see your product online. The best way to communicate
to the outside world about your culture is through literature. An SME Research Report by Ghana
Web also indicated that SMEs contribute an estimated 70% of Ghana’s GDP and account for
approximately 85% of employment in the Ghanaian manufacturing sector. With growing numbers of
graduates per year and limited opportunities, the best way forward is self-employment. SMEs play
an important role in the monetary improvement of numerous countries. Having your products online
in an organised way helps to reach a larger audience and generates better sales. Due to their regional
dispersion and their labour intensity, it is argued, small-scale production units can promote a more
equitable distribution of income than large firms. They also improve the efficiency of domestic
markets and make productive use of scarce resources, thus facilitating long-term economic growth
(Kayanula and Quartey, 2000). The associate between AIS alignment and firm performance is also
discussed in this paper. There are no systematic innovation and invention inspiration, education and
development ecosystem. Finance is said to be the “glue” that holds together all the diverse aspects
involved in small business start-up and development (Green et al., 2002). 6. 0. Conclusion This paper
has reviewed various definitions of SMEs and also discussed the characteristics, contributions of
SMEs to economic development, and the constraints to SME development. The study also
discovered that strict repayment terms, shorter repayment period, higher interest rate as well as small
loan amounts were the major challenges that confronted the SMEs in the use of microfinance credit
facilities to grow their businesses in the Cape Coast metropolis of the Republic of Ghana. Rakibul
Hoque Download Free PDF View PDF Bharati, P. The study sought to examine whether
microfinance credit facilities contribute to the growth of the SME sector in the Cape Coast
Metropolis of Ghana. Based on the conceptual framework these hypotheses are generated: H1
Internal source of finance is positively correlated to SME growth.
Micro Evidence from Developing Countries A. Galindo F. Schiantarelli A. Weiss Economics 2002
Has financial liberalization improved the efficiency with which investment funds are allocated to
competing uses. In the online business, to get good revenue, one needs to have good quality products
at very competitive prices. They are very significant in outlining the cultural foundations of different
ethnical groups. Due to their regional dispersion and their labour intensity, it is argued, small-scale
production units can promote a more equitable distribution of income than large firms. They also
improve the efficiency of domestic markets and make productive use of scarce resources, thus
facilitating long-term economic growth (Kayanula and Quartey, 2000). Aryeetey, E. 1998. “Informal
Finance for Private Sector Development in Africa”, Economic Research Papers No. 41, The African
Development Bank, Abidjan. Daskalakis Economics, Business 2010 In this paper I investigate the
level of access of the opaque micro and small firms to finance. Image supplied Ninety percent of
registered businesses in Ghana are SMEs according to the Registrar General’s Department as noted
by Graphic Online. The study sought to explore the effect of legal and regulatory frameworks on
small and medium enterprises (SMEs) growth in Ghana. For due purpose, three components of AIS
has been selected with help of literature: accounting knowledge (AK), management support (MS)
and record keeping performance (RKP). They include, for example, spaza shops, minibus taxis and
household industries. They perform useful roles in ensuring income stability, growth and
employment. Akoena Augustine F. Gockel Economics, Business 2002 Based on Ghana’s experience
with financial liberalization, investigates how access to finance by micro, small and medium scale
enterprises have been affected by financial sector reforms. Finance is said to be the “glue” that holds
together all the diverse aspects involved in small business start-up and development (Green et al.,
2002). 6. 0. Conclusion This paper has reviewed various definitions of SMEs and also discussed the
characteristics, contributions of SMEs to economic development, and the constraints to SME
development. First, Act 102 of 1996 defines SMEs in South Africa whereas there is no such
legislation in Ghana. See Full PDF Download PDF See Full PDF Download PDF Related Papers
Factors influencing the alignment of accounting information systems in small and medium sized
Malaysian manufacturing firms Macz Man The concept of alignment or fit between information
technology (IT) and business strategy has been discussed for many years, and strategic alignment is
deemed crucial in increasing firm performance. This is 100% legal. You may not submit downloaded
papers as your own, that is cheating. Also you. Small enterprises in Ghana are said to be a
characteristic feature of the production landscape and have been noted to provide about 85% of
manufacturing employment of Ghana (Steel and Webster, 1991; Aryeetey, 2001). Partnership
business is allowed in both USA and saudi arabia. The Bolton Committee (1971) first formulated an
“economic” and “statistical” definition of a small firm. Micro enterprise: The turnover is less than the
VAT registration limit (that is, R150 000 per year). This paper explores the motivation and
contribution of previous researches to identify the gaps for the future studies. There are no
systematic innovation and invention inspiration, education and development ecosystem. Finally, the
EC definition did not assume the SME group is homogenous; that is, the definition makes a
distinction between micro, small, and medium-sized enterprises. Hence, the core objective of this
study is to learn about the AIS alignment—the association within the AIS requirement and AIS
capacity—of an organization. Gulf areas in general and Saudi Arabia in particular, is an oil rich
region with the economy being driven by the large oil producing organizations. The most commonly
used is the number of employees of the enterprise. The development of computer system has
revolutionised business firms in the world. The Ghana Enterprise Development Commission
(GEDC), on the other hand, uses a 10 million Ghanaian cedis upper limit definition for plant and
machinery. The financial institutions usually decline loan requests because of the positioning of such
SMEs. An objective of this literature review is to identify the underlying relations between
technology and the general development of society.
Competition In the absence of competition, there is always complacency. International Research
Journal of Finance and Economics - Issue 39 (2010) 219 SMEs represent over 90% of private
business and contribute to more than 50% of employment and of GDP in most African countries
(UNIDO, 1999). Proposed conceptual framework determining SME growth. Governments at all
levels have undertaken initiatives to promote the growth of SMEs (Feeney and Riding, 1997).
Kristof's story may be seen through the prism of Plato's Cave where ignorance and lack of exposure
play a critical role in determining the manner in which people perceive realities and illusions. Osei et
al (1993), however, classified small-scale enterprises into three categories. In addition, demand 224
International Research Journal of Finance and Economics - Issue 39 (2010) is important to the
income-generation potential of SMEs and their ability to stimulate the demand for both consumer
and capital goods (Berry et al., 2002). 5. 0. General Constraints to SME Development. Therefore,
this study examined the socio-economic factors that determine access to bank finance by SMEs in
Tamale, Ghana. The study then investigated some factors that might be associated with a small
firm's level of AIS alignment. A World Bank study found that about 90% of small enterprises
surveyed stated that credit was a major constraint to new investment (Parker et al., 1995). These
enterprises usually lack formality in terms of registration. The outcome of this study reveals that,
there remains average alignment within AIS requirement and capacity, the understanding of the term
“AIS” within the manger is vague and whether AIS resources lead to organizational performance and
governance, remains as an unsolved issue; as the dispersion between the said two terms is evident.
Okiro Business, Economics 2018 Purpose: SMEs have been recognized as being great contributors to
the Kenyan economy offering both employment and a platform for innovative ideas. Aryeetey, E.
2001. “Priority Research Issues Relating to Regulation and Competition in Ghana”, Centre on
Regulation and Competition Working Paper Series, University of Manchester, Manchester. In
applying this definition, confusion often arises in respect of the arbitrariness and cut off points used
by the various official sources. The new empirical insights are significant to SME and
entrepreneurship development in Ghana. We use cookies to create the best experience for you. The
financial institutions usually decline loan requests because of the positioning of such SMEs. SMEs in
Ghana have been noted to provide about 85% of manufacturing employment of Ghana. However,
the extent of involvement of a country in manufacturing will depend on a number of factors,
including, availability of raw materials, taste and consumption patterns of domestic consumers, and
the level of development of the export markets. SMEs have been noted to be one of the major areas
of concern to many policy makers in an attempt to accelerate the rate of growth in low-income
countries. SMEs have indeed not been spared with the definition problem that is usually associated
with concepts which have many components. Employment One important area of growth for SMEs
in Ghana in the area of employment. A mismatch in skills means that many young people cannot
secure jobs. See Full PDF Download PDF See Full PDF Download PDF Related Papers Chasing
credit: The bane of small and medium scall enterprises in Assin North Municipality, Ghana. When
asked what they perceive as constraints in their businesses and especially in establishing or
expanding their businesses, they answered that access to funds is a major constraint. In effect, the EC
definitions are based solely on employment rather than a multiplicity of criteria. Stratified random
sampling design was used to sample 103 and 24 pure water distributors and producers respectively
and questionnaires used as the research instrument. Storey (1994) tries to sum up the danger of using
size to define the status of a firm by stating that in some sectors all firms may be regarded as small,
whilst in other sectors there are possibly no firms which are small. SMEs in Ghana and South Africa
have a lot of similarities in terms of their characteristics as well as the vital role they play in the two
economies.