Are you ready to amplify your academic presence and connect with a global network of researchers? Join the Scholar Indexing Society and elevate your research to new heights!
Access to Finance, Financial Literacy and Small and Medium-Scale Enterprises Sustainable Performance
Article Number: SIS358762AI040623
4th June, 2023
Author(s):
Emmanuel Assifuah-Nunoo
Abstract:
A sustainable performance of an organization is
an organization that works with a successful management organization by people
of the firm who are aware through learning to satisfy customers and other
stakeholders' wants and expectations of the firm. Small and medium-sized
enterprises (SMEs) have become more significant in global economies. The study
sought access to finance, financial literacy, and small and medium-scale
enterprises (SMEs’) sustainable performance. The study employed a quantitative
descriptive research design with survey questionnaires as the research
collection instrument, and the Slovin formula was used in calculating the
sample size. The data analysis was based on SPSS and tables. The results show
that access to finances has a significant effect on firm sustainability,
financial literacy has a positive and significant impact on firms’
sustainability, and financial literacy moderates the relationship between
access to finance and firm sustainability. The study suggested that municipal assemblies
be used by the government to provide financial education to SMEs, that
financial assets be provided to SMEs to help improve their sustainable
performance, and that scholars and managers think about how and why financial
literacy affects the relationship between access to finance and firm growth in
SMEs operating in developed market economies.