FACTORS HINDERING SMES FROM ACCESSING THE FINANCIAL PRODUCTS OFFERED BY BANKS

2017 ◽  
Vol 2 (3) ◽  
pp. 67 ◽  
Author(s):  
Michael Njeru Njue ◽  
Marion Mbogo
Keyword(s):  
Small Businesses ◽  
Commercial Banks ◽  
Credit Scoring ◽  
Financial Education ◽  
Target Population ◽  
Survey Study ◽  
Sampling Frame ◽  
Access To Finance ◽  
Financial Products ◽  
Credit Worthiness

AbstractPurpose: The purpose of this study was to highlight the factors hindering SMES from accessing the financial products offered by banks.Methodology:The research design was descriptive survey study. The target population was 46 commercial banks .The sampling frame was the list of commercial banks given at the Central bank of Kenya Website. A sample of 17 banks was selected using random sampling. The second stage of sampling involved the selection of the respondents using a stratified sampling approach. The strata were the various departments that interact with SMEs in a bank. The respondents were the head of departments of the respective departments that form the strata. Both qualitative and quantitative data was collected using a questionnaire that consisted of both open ended and close ended questions. Data was analyzed using Statistical Package for Social Sciences (SPSS.Results:It can be concluded that there were several factors that hindered SMEs access to financial products and services. In particular these factors included lack of credit worthiness information about SMES, lack of collateral limits the SME access to finance, low net value of the entrepreneurs in terms of assets and liabilities (Capital) limits SME access to finance borrower’s lack of honesty and trustworthiness (character) limits SME access to finances.Unique contribution to theory, practice and policy:The study recommended that training be emphasized to SME entrepreneurs on financial matters, all gender to be treated equally, the banks to introduce financial education programs for SMEs to improve their access to credit, banks to further make use of a credit scoring system to assess the credit worthiness of small businesses and to introduce the use of new credit bureau regulations to increase SME finances.

TOOLS OR SYSTEMS FOR IMPROVING ACCESSIBILITY TO FINANCIAL PRODUCTS AND SERVICES.

2017 ◽  
Vol 2 (4) ◽  
pp. 17
Author(s):  
Michael Njeru Njue ◽  
Marion Mbogo
Keyword(s):  
Small Businesses ◽  
Commercial Banks ◽  
Credit Scoring ◽  
Financial Education ◽  
Target Population ◽  
Survey Study ◽  
Sampling Frame ◽  
Access To Credit ◽  
Financial Products ◽  
Negative Effect

Purpose: The purpose of this study was to highlight the need for banks to develop financial products and services for small and medium enterprises.Methodology:The research design was descriptive survey study. The target population was 46 commercial banks .The sampling frame was the list of commercial banks given at the Central bank of Kenya Website. A sample of 17 banks was selected using random sampling. The second stage of sampling involved the selection of the respondents using a stratified sampling approach. The strata were the various departments that interact with SMEs in a bank. The respondents were the head of departments of the respective departments that form the strata. Both qualitative and quantitative data was collected using a questionnaire that consisted of both open ended and close ended questions. Data was analyzed using Statistical Package for Social Sciences (SPSS.Results: One of the study objectives was to establish the level of access to financial products and services offered by the banks to SMEs. Results from the bank manager’s perspective indicated that the level of access to finance was high, but the bank clients indicated otherwise, that it was low. The other objective of the study was to determine the factors that hinder the SMEs from accessing the financial products offered by banks. Results indicated that several factors influence access of SMEs to finance. These factors include gender, level of education, size of the business, age of the entrepreneur, collateral, and level of income for the entrepreneurs. All the factors had a negative effect on the access of finances from the banks by SMEs and hence indicate SMEs low access to financial products. Another objective of the study was to establish the tools or systems required to improve accessibility to financial products offered. Results indicated that there are tools and systems put in place by banks to improve accessibility to financial products offered to small and medium enterprises.Unique contribution to theory, practice and policy:The study recommended that training be emphasized to SME entrepreneurs on financial matters, all gender to be treated equally, the banks to introduce financial education programs for SMEs to improve their access to credit, banks to further make use of a credit scoring system to assess the credit worthiness of small businesses and to introduce the use of new credit bureau regulations to increase SME finances.

LEVEL OF ACCESS TO FINANCIAL PRODUCTS AND SERVICES FOR SMALL AND MEDIUM ENTERPRISES IN KENYA.

2017 ◽  
Vol 2 (3) ◽  
pp. 31
Author(s):  
Michael Njeru Njue ◽  
Marion Mbogo
Keyword(s):  
Small Businesses ◽  
Commercial Banks ◽  
Small And Medium Enterprises ◽  
Credit Scoring ◽  
Financial Education ◽  
Target Population ◽  
Survey Study ◽  
Sampling Frame ◽  
Financial Products ◽  
Medium Enterprises

Purpose: The purpose of this study was to highlight the level of access to financial products and services for small and medium enterprises in KenyaMethodology:The research design was descriptive survey study. The target population was 46 commercial banks .The sampling frame was the list of commercial banks given at the Central bank of Kenya Website. A sample of 17 banks was selected using random sampling. The second stage of sampling involved the selection of the respondents using a stratified sampling approach. The strata were the various departments that interact with SMEs in a bank. The respondents were the head of departments of the respective departments that form the strata. Both qualitative and quantitative data was collected using a questionnaire that consisted of both open ended and close ended questions. Data was analysed using Statistical Package for Social Sciences (SPSS.Results: The study objectives were to establish the level of access to financial products and services offered by the banks to SMEs. Results from the bank manager’s perspective indicated that the level of access to finance was high, but the bank clients indicated otherwise, that it was low. The other objective of the study was to determine the factors that hinder the SMEs from accessing the financial products offered by banks. Results indicated that several factors influence access of SMEs to finance. These factors include gender, level of education, size of the business, age of the entrepreneur, collateral, and level of income for the entrepreneurs. All the factors had a negative effect on the access of finances from the banks by SMEs and hence indicate SMEs low access to financial products. Results also indicated that there are tools and systems put in place by banks to improve accessibility to financial products offered to small and medium enterprises.Unique contribution to theory, practice and policy:The study recommended that training be emphasized to SME entrepreneurs on financial matters, all gender to be treated equally, the banks to introduce financial education programs for SMEs to improve their access to credit, banks to further make use of a credit scoring system to assess the credit worthiness of small businesses and to introduce the use of new credit bureau regulations to increase SME finances.

IMPROVING ACCESS TO BANKING PRODUCTS AND SERVICES FOR SMALL AND MEDIUM ENTERPRISES IN KENYA.

2017 ◽  
Vol 2 (3) ◽  
pp. 47
Author(s):  
Michael Njeru Njue ◽  
Marion Mbogo
Keyword(s):  
Small Businesses ◽  
Commercial Banks ◽  
Small And Medium Enterprises ◽  
Credit Scoring ◽  
Financial Education ◽  
Target Population ◽  
Survey Study ◽  
Sampling Frame ◽  
Access To Credit ◽  
Financial Products

Purpose: The purpose of this study was to highlight the need for banks to develop financial products and services for small and medium enterprises.Methodology:The research design was descriptive survey study. The target population was 46 commercial banks .The sampling frame was the list of commercial banks given at the Central bank of Kenya Website. A sample of 17 banks was selected using random sampling. The second stage of sampling involved the selection of the respondents using a stratified sampling approach. The strata were the various departments that interact with SMEs in a bank. The respondents were the head of departments of the respective departments that form the strata. Both qualitative and quantitative data was collected using a questionnaire that consisted of both open ended and close ended questions. Data was analysed using Statistical Package for Social Sciences (SPSS.Results: One of the study objectives was to establish the level of access to financial products and services offered by the banks to SMEs. Results from the bank manager’s perspective indicated that the level of access to finance was high, but the bank clients indicated otherwise, that it was low. The other objective of the study was to determine the factors that hinder the SMEs from accessing the financial products offered by banks. Results indicated that several factors influence access of SMEs to finance. These factors include gender, level of education, size of the business, age of the entrepreneur, collateral, and level of income for the entrepreneurs. All the factors had a negative effect on the access of finances from the banks by SMEs and hence indicate SMEs low access to financial products. Another objective of the study was to establish the tools or systems required to improve accessibility to financial products offered. Results indicated that there are tools and systems put in place by banks to improve accessibility to financial products offered to small and medium enterprises.Unique contribution to theory, practice and policy:The study recommended that training be emphasized to SME entrepreneurs on financial matters, all gender to be treated equally, the banks to introduce financial education programs for SMEs to improve their access to credit, banks to further make use of a credit scoring system to assess the credit worthiness of small businesses and to introduce the use of new credit bureau regulations to increase SME finances.

scholarly journals A construction Industry Case Factors of commercial banks’ loan eligibility of small businesses in South Africa: a construction industry case

2020 ◽  
Vol 7 (3) ◽  
pp. 416-430
Author(s):  
Lindy Mtsweni Yolande Mtsweni
Keyword(s):  
South Africa ◽  
Construction Industry ◽  
Small Businesses ◽  
Commercial Banks ◽  
Qualitative Methodology ◽  
Credit Scoring ◽  
Assessment Process ◽  
Small Enterprise ◽  
Loan Terms ◽  
Major Factors

This study determines the factors that affect commercial banks’ loan eligibility of small businesses in the construction industry in South Africa. A multiple case study design and six randomly selected small businesses (i.e., three unsuccessful-declined and three successful-approved loan applicants) were used in this study. The qualitative methodology was applied to interview three senior managers from a commercial bank and six senior officials of the businesses, which had undergone the assessment process. The small enterprise assets finance applications of interviewed clients’ outcomes and the credit scoring outcomes either formal complaint letters or minutes were also evaluated after the credit scoring decision had been made to obtain more in-depth data. The main finding of the study was that client’s relationship, background, character, collateral, capital, capacity and affordability are major factors of loan eligibility of small businesses in South Africa. Of particular importance was that, typical relationship-based term loans were based on a business relationship built over years of lending, allowing for substantial flexibility in loan terms.

scholarly journals THE IMPACT OF COLLECTIVE INVESTMENT SCHEMES ON FINANCIAL INCLUSION IN KENYA

2016 ◽  
Vol 1 (1) ◽  
pp. 54-73
Author(s):  
Peninah Kimani ◽  
Dr. Sifunjo Kisaka
Keyword(s):  
Social Economic ◽  
Target Population ◽  
Financial Inclusion ◽  
Survey Study ◽  
Qualitative And Quantitative ◽  
Second Stage ◽  
Financial Products ◽  
Descriptive Survey ◽  
The Impact ◽  
Selection Of

Purpose: The purpose of this study was to determine the impact of collective investment schemes in financial inclusion in Kenya.Methodology: The research design was descriptive survey study in nature since it focused on all collective investment schemes in Kenya. The target population was collective investment schemes. A sample of 11 collective schemes was selected using random sampling. The second stage of sampling involved the selection of the respondents using a stratified sampling approach. The strata were the various respondents in the schemes. Both qualitative and quantitative data was collected using a questionnaire that consisted of both open ended and close ended questions. Data was analysed using Statistical Package for Social Sciences (SPSS) and results presented in frequency tables to show how the responses for the various questions posed to the respondents. The data was then analysed in terms of descriptive statistics like frequencies, means and percentages.Results: The findings implied The study concludes that there was low access to financial products in the investment schemes. It is also possible to conclude that the there were several factors that affect financial inclusion in Kenya. These factors include age of the investor, gender, level of education and level of income.Unique contribution to theory, practice and policy: The study recommended that measures such as target marketing the segments with low access to collective investments and increasing the market budget to investors on financial matters, may be adopted. Such measures would ensure gendered financial inclusion, and inclusion of social economic classes characterized by age, level of income, education and rural urban classes.

scholarly journals Transition Finance and Markets

2020 ◽  
Vol 9 (1) ◽  
pp. 137-147
Author(s):  
Deborah Cotton
Keyword(s):  
Sustainable Development ◽  
Financial Institutions ◽  
Development Assistance ◽  
Development Assistance Committee ◽  
Access To Finance ◽  
Financial Products ◽  
New Research

The increased focus and agreement on the requirement for the planet to be more sustainable has led to an array of new research and financial products. The new buzz phrase is transition financing which is being seen as the path to achieving a sustainable world. The Development Assistance Committee (DAC) in the Organisation for Economic Co-operation and Development (OECD, 2019) has the main objective of transition finance is to optimise access to finance for sustainable development to avoid financing gaps or socio-economic setbacks. This chapter examines some of the products and markets in current use by financial institutions and investors. It describes their use and recent research in this area as well as some gaps in this research.

scholarly journals Realizing a Global Survey of Emigrants through Facebook and Instagram

2021 ◽  
Author(s):  
Steffen Pötzschke ◽  
Bernd Weiß
Keyword(s):  
Social Networking Sites ◽  
Cost Efficiency ◽  
Online Survey ◽  
Target Population ◽  
Global Scale ◽  
German Population ◽  
Asian Countries ◽  
Sampling Frame ◽  
German Citizenship ◽  
Cross National

Research on international migrants has seen a sharp increase during the last decades, yet sampling them remains a major challenge, especially in a cross-national setting and on a global scale. While various sampling methods are established in the field, most of them cannot easily be implemented globally due to their dependence on specific administrative or infrastructure elements or simply their costs. Since Social Networking Sites (SNS) operate on a global scale, they provide a sampling frame that can be utilized for the targeted recruitment of migrants worldwide. Increasingly used for research purposes and among the largest and most popular SNSs are Facebook and Instagram. In our project GEOOS (German Emigrants Overseas Online Survey), we utilize paid advertisements on these networks to target German emigrants, particularly Germans living outside of Europe. Our research aims to ascertain whether such ads could be used to recruit a nonprobability (migrant) sample on a global scale. More specifically, we are interested in the success of this approach concerning three performance indicators: Cost efficiency, coverage, and sample size. Our advertisement campaign ran for 18 days and resulted in total costs of about 2,223 Euro. This investment led a total of 3,895 individuals to complete the survey; of those, 98 percent belonged to the target population, meaning they were (a) either born in Germany or held German citizenship and (b) did not live in Germany. GEOOS participants lived in a total of 148 countries and territories around the globe. Similar to findings reported in previous studies on this target population, the largest sub-groups resided in predominantly Anglo-phone countries; however, taken together, participants in these countries only constitute 38 percent of our overall sample, with nearly a quarter of GEOOS participants (n = 867) living in Middle and South America, 862 residing in Asian countries, and 476 in Africa. Furthermore, a considerable share of our sample is constituted by individuals who would either not have been included in a sampling frame based on German population registers or who would have been unlikely to be reached through this method due to incomplete or outdated information.

Middle Ear Barotraumas in Commercial Aircrew

2021 ◽  
Vol 92 (3) ◽  
pp. 182-189
Author(s):  
Oskari H. Lindfors ◽  
Kimmo S. Ketola ◽  
Tuomas K. Klockars ◽  
Tuomo K. Leino ◽  
Saku T. Sinkkonen
Keyword(s):  
Risk Factors ◽  
Middle Ear ◽  
Surgical Procedures ◽  
Poor Performance ◽  
Target Population ◽  
Survey Study ◽  
Upper Respiratory Tract ◽  
Commercial Aviation ◽  
Pressure Equalization ◽  
Tract Infections

BACKGROUND: Middle ear (ME) barotraumas are the most common condition in aviation medicine, sometimes seriously compromising flight safety. Considering this and the ever-increasing amount of commercial aviation, a detailed overview is warranted.METHODS: In this survey study, an anonymous, electronic questionnaire was distributed to commercial aircrew of the three major commercial airlines operating in Finland (N 3799), covering 93% of the target population (i.e., all commercial aircrew operating in Finland, N 4083). Primary outcomes were self-reported prevalence, clinical characteristics, and health and occupational effects of ME barotraumas in flight. Secondary outcomes were adjusted odds ratios (OR) for frequency of ME barotraumas with respect to possible risk factors.RESULTS: Response rate was 47% (N 1789/3799), with 85% (N 1516) having experienced ME barotraumas in flight. Of those affected, 60% had used medications, 5% had undergone surgical procedures, and 48% had been on sick leave due to ME barotraumas (40% during the last year). Factors associated with ME barotraumas included a high number of upper respiratory tract infections [3 URTIs/yr vs. 0 URTIs/yr: OR, 9.02; 95% confidence interval (CI) 3.9920.39] and poor subjective performance in Valsalva (occasionally vs. always successful: OR, 7.84; 95% CI 3.9715.51) and Toynbee (occasionally vs. always successful: OR, 9.06; 95% CI 2.6730.78) maneuvers.CONCLUSION: ME barotraumas were reported by 85% of commercial aircrew. They lead to an increased need for medications, otorhinolaryngology-related surgical procedures, and sickness absence from flight duty. Possible risk factors include a high number of URTIs and poor performance in pressure equalization maneuvers.Lindfors OH, Ketola KS, Klockars TK, Leino TK, Sinkkonen ST. Middle ear barotraumas in commercial aircrew. Aerosp Med Hum Perform. 2021; 92(3):182189.

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