Small and Medium-Sized Enterprises Financing
Abstract
The operations of small and medium-sized enterprises (SMEs) occupy an admirable position in the economic landscape of most economies in the world, especially for developing countries. Based on literature review, this paper critically assesses the sources of finance available to SMEs and the difficulties they encounter in accessing these finances. The study identified bank loans, venture capital financing, business angels, trade credit, and government support as the key sources of finance available to SMEs. The study further shows that limited resources, personal characteristics of SMEs managers, and the nature of some SMEs are the common factors inhibiting SMEs access to finance.
Copyright (c) 2020 Gading Journal for Social Sciences (e-ISSN 2600-7568)
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
Authors who publish with this journal agree to the following terms:
1. Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
2. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
3. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work.
