Key Success Factors of Small and Medium Scale Enterprises: A Ghanaian Perspective

Abstract

The multi methodology is adopted for the investigation of the objectives of the study. The quantitative approach is first used and the initial findings are validated whilst the other part was validated through the qualitative approach in order to ensure reliability and generalisability of the results. The study employed a survey strategy and data were coded into NCSS 11 for analysis. Multinomial logistic regression was used to analyse data and then cox regression was used to check the robustness of the findings. From the findings, the most significant factors are: government support, inflation rate, interest rate, sector, training, business plan and infrastructure. The study eventually recommends strategies and policies to government and SMEs to positively improve their success rate. The results of the study will be significant to policy makers (that is government and quasi-government agencies), SMEs and other researchers.