The Challenges of Financing Women Entrepreneurs within the Small and Medium Enterprises (SMEs) in the Tamale Metropolis

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The Challenges of Financing Women Entrepreneurs within the Small and Medium Enterprises (SMEs) in the Tamale Metropolis

Abstract

Women Entrepreneurs dominate the Small and Medium Enterprises (SMEs) in the local economy. These SMEs create job opportunities and play a lubricating role for the local economy. There are challenges however that has a negative impact on the growth and sustainability of these SMEs. The objective of this paper which is descriptive in nature is to assess the financing challenges of women entrepreneurs in Tamale Metropolis. The various sources of finance available, financial literacy and access to finance were explored. Using questionnaires, primary data was sourced from fifty (50) women entrepreneurs using a multi-stage and convenience sampling techniques. Data was analyzed manually with tables and percentages used for quantitative analysis while narrative descriptions employed in qualitative analysis. Consistent with our objectives, we found limited working capital, unavailability of reliable

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