Computerized Accounting Systems Usage by Small and Medium Scale Enterprises in Kumasi Metropolis, Ghana

The study focused on establishing the level of usage, benefits and challenges of computerized accounting systems (CAS) by small and medium scale enterprises (SMEs) operating in the Kumasi Metropolis. Systematic sampling technique was used to select 367 SMEs for the study. Descriptive statistics and inferential statistics were used to analyse the data. The results of the study revealed that only a few SMEs are using computerised accounting software. The low level of usage is attributed to cost, personnel and lack of education on the benefits of using CAS. Those using CAS indicated that the systems play an important role in the achievement of their business objectives including timely information management, large data storage capacity, reduction of clerical works and enhanced customer satisfaction. In conclusion, usage of CAS by SMEs has the potential to improve their performance; however, cost, lack of education on the benefits of the usage and knowledgeable personnel are negatively affecting the usage of the software. It is therefore recommended that SMEs be educated on the benefits of using CAS and accounting training institutions should do well to incorporate a segment on computerized accounting systems into their training modules. Keywords: Small and Medium Scale Enterprises, Computerised Accounting Systems, Kumasi, Ghana

Tax Compliance among Small and Medium Scale Enterprises in Kumasi Metropolis, Ghana

The aim of the study was to identify the prime factors that affect SMEs’ tax compliance. The sampled size for the study was 70 SMEs who were selected using convenient sampling for questionnaire administration. Data collected from the field was analyzed using descriptive statistics with the help of SPSS. The results revealed that taxes paid by respondents included income tax; a Kumasi Municipal Assembly (KMA) levy; VAT; and property tax. Generally, 91.4 per cent of the respondents indicated that they are aware that tax compliance is obligatory and 92.9 per cent are also aware that non-compliance is punishable by law. Ninety percent of respondents did not have any form of tax education. 82.9% of respondents ranked taxes paid high while 85.7 per cent of respondents said it was their biggest constraint. Respondents were of the opinion that a reduction in the taxable amount; use of tax collected for developmental projects; enforcement of punishment for non-compliance; as well as educating SMEs about their tax obligations would promote voluntary tax compliance. The study recommended that the authorities who impose taxation on SMEs should review the taxable amount and widen the tax net to include more SMEs to increase tax revenue. In addition, SMEs should be given proper tax education on the essence of paying tax and their taxes should be properly accounted for. The penalties for tax non-compliance should be enforced according to the law. Keywords: Tax compliance, Small and Medium Scale Enterprises, Kumasi Metropolis, Ghan

Assessing the use of e-business strategies by SMEs in Ghana during the Covid-19 pandemic

Purpose: The main purpose of this quantitative research was to assess various e-business strategies implored by small and medium enterprises (SMEs) in Ghana during the Covid-19 pandemic. Research methodology: It made use of a descriptive design. Data was collected with the use of a structured questionnaire, analysed with excel and presented in tables and figures. Results: The study revealed that small business owners have knowledge of e-business models with the most popular e-business model used being the Business to Consumer (B2C) model, while the least used model was the Business to Government (B2G) model. While imploring the use of e-business models and strategies, SMEs were faced with the challenge of very limited knowledge on the use of e-business strategies. Limitations: The study was limited to businesses in the Tema Metropolitan Assembly of Ghana. Contribution: Most of the SMEs were established in the traditional setting of business operations therefore there was little or no plan for integrating the internet in their operations. However, the pandemic has shifted their attention to adopting some virtual traction to their businesses for the benefit it offers such as continuous sales and more visibility. Further research on how each of the various concepts was used by SMEs is highly recommended

Exploring strengths and weaknesses of growth among small and medium-sized construction firms in Ghana

Abstract: Small and medium size construction firms are recognised as drivers of socio-economic development in most nations. This is because the operations of SMEs impacts on both job creations and also in poverty alleviation programmes of many countries. Although the construction SMEs in Ghana are generally considered to have a low level of managerial structures, their dominance, and activities within the sector enable them to fill gaps and also execute projects in numbers and at locations where large firms will be available and prepare to operate. This attribute makes the growth of these construction SMEs imperative to the Ghanaian economy.The purpose of this study was to establish the strengths and weaknesses in enhancing firm’s growth among construction SMEs. The methodology adopted was solely a comprehensive review of the literature on existing models which was done via journals, conferences publications supported by other electronic information. The conclusion of the study stressed that strength of firm’s growth refers to the firm’s competitive advantage and distinctive competencies this includes strong customer service, positive employees attitudes, excellent stakeholders relations, lower cost in production and high integrity of the staff among others. Further conclusions to the study pointed that weakness of firm’s growth, on the other hand, refers to the constraints that impede a firm to grow or what the firm does not do well. The study also concludes that weakness in firm’s growth among SMEs include frail organisational structure, inadequate training of staff, lack of clear corporate goals and complex levels of reporting systems of the firm

Effect of Power Supply on the performance of Small and Medium Size Enterprises: A comparative analysis between SMEs in Tema and the Northern part of Ghana

Electricity provision in Ghana has been marred by low generation, poor supply, and frequent power outages. The situation compels firms to adopt strategies to cope with this poor public supply of power for their business. To this end, this study analyses the effect of power supply on the performance of SMEs: a comparative analysis between two regions in Ghana where Small and Medium firms are located. The study uses the current World Bank 2013 Enterprise Survey on Ghana with 403 sampled firms. The study employs chi-square and t-test to do pattern analysis. In addition, ordinary regression analysis (OLS) was employed to regress firm performance variable on electricity supply variable and other covariates. The results show that the power outages affected firm’s performance (profitability). In addition, it was further realized that power outages (power interruptions) severely affected SMEs located in the Northern part of Ghana than SMEs located elsewhere. The study, therefore, recommends government intervention in policies and programs such as power mix approach and renewable energy, as well as private sector participation to install competition and efficiency should be encouraged. In addition, SMEs should consider alternative sources of power such as solar power, inverter, biogas, generators, which could help curb the cost that is associated with power outage

The Strategic Use of Information Technology in the Insurance Industry: A Case Study of State Insurance Company- Kumasi, Ghana

The study aimed at finding out the strategic use of information technology in the State Insurance Company limited- Ghana, using Kumasi area office as the case study.Generally, the study focused attention on how managers and workers need to know about technology, the kind of information systems that support business needs, the benefits of adopting emerging technologies in insurance among others.Sixty (60) respondents were purposively selected which was guided by sampling procedure.  Quota sampling was also adopted.  Two (2) questionnaires were administered to the Area Manager and the deputy, ten (10) to all Heads of departments, thirty (30) to Senior Staff and eighteen (18) to Junior Staff.The findings revealed that most of the respondents rated the strategic use of IT in the company as playing a good role due to the fact that it has improved the workflow, respond quickly and timely on information requests and reduce cost of filling, storing and retrieving paper document, and unlike the traditional method, documents stored electronically are seldom lost or misfiled whilst at the same time it has reduced risk to a manageable extent.  There was also insufficient transaction through the internet between clients and the company. It was recommended that State Insurance Company Limited should add knowledge in IT as a prerequisite for recruiting staffs with the intention of reducing the operating cost of IT. Keywords: Information Technology (IT), Insurance, Risk, Kumasi, Internet, Recovery, Recruitin

Analysis of The Effect of Information and Communication Technology on the Production of Micro and Small Enterprises in Indonesia

At present, the Indonesian business world is still dominated by Micro and Small Enterprises (MSE). From the results of the 2016-Advanced Economic Census, the number of these businesses reached more than 26 million businesses or 98.68 percent of the total non-agricultural businesses in Indonesia. This business is also able to absorb more than 59 million workers or around 75.33 percent of the total non-agricultural workforce. The advantages of MSEs include generally producing consumer goods and services that are close to the needs of the community, not relying on imported raw materials and more utilizing local resources both in terms of human resources, capital, raw materials, and equipment, and using their own capital or not supported by loans. from the bank. On the other hand, the limitations of MSEs include the lack of access to banking, the ability and knowledge of human resources that are still low so that they are managed in a simple way, the use of limited technology, and has not been able to keep up with changing consumer tastes, especially those that are export-oriented. The rapid development of information and communication technology has an impact on changes in lifestyle, including consumption patterns and the way people sell and shop. The phenomenon of e-commerce provides an easy way to shop for people by not having to come directly to the store. This can be used by MSEs to reach larger consumers so as to increase their production and income. This study aims to analyze the effect of Information and Communication Technology on the production of Micro and Small Enterprises in Indonesia. This study uses panel data from 34 provinces in Indonesia between 2015-2020 which is estimated using the Generalized Method of Moments (GMM). The results show that capital, labor, computer users, fixed wireline users, cellular phone users, internet users and telecommunications expenses simultaneously have a positive and significant impact on the production of Micro and Small Enterprises in Indonesia. Partially, capital has a positive and significant effect on the production of Micro and Small Enterprises in Indonesia. On the other hand, telecommunications spending has a negative and insignificant effect on the production of Micro and Small Enterprises in Indonesia. While other variables have a positive and insignificant effect on economic growth in Indonesia. With these results, it is hoped that the government will issue policies to support micro and small businesses in increasing the use of information and communication technology to increase their production. Among other things, by building telecommunications infrastructure in areas that are not yet adequate, providing education to micro and small business actors in using information and communication technology, and providing light credit in the form of smartphones and computers to micro and small businesses so that they can be used to promote their products on the internet

The Role of Strategy in a Competitive Business Environment: A Case Study of Ecobank Ghana Limited

The financial systems in Ghana tend to evolve around the banking system. The banking sector is experiencing increased competitions in the new deregulated market. Competition in the banking sector matters for a number of reasons. Operating in the competitive banking environment is very challenging. Formulating a consistent strategy is an intricacy for many management teams, making that strategy work is even more complex. The aim of this study is to examine the role of strategy in competitive business environment. A case study research design was adopted for easy assessment of the role of strategy in a competitive environment. Ecobank Ghana Limited, the Pan African bank was adopted for the case study area. Both primary and secondary source data was used with a sample size of 320 respondents. Convenient sampling technique was used to collect data from Management of Ecobank.  The study therefore found that the competitive strategies of Ecobank Ghana are effective and that the strategies have contributed to high financial performance of the bank. The impact of competitive strategies on the performance of the bank are increasing sales volume; profit efficiency, increase productivity, increase in ROE, businesses and sustainable growth increased market share, enhanced customer service and increased of customer waiver of charges. The study recommends that the bank should work hard to build and sustain its competitive advantage and be prepared for the next wave of market reforms and restructuring by applying new methods of information technology and upgrading the skills of staff and management. Keywords: Strategy, Competive Business Environmen

The Experiences of Successful Small Business Owners in Ghana

There is a high failure rate of small and medium enterprises that results in high unemployment rate and poverty in Ghana. The purpose of this phenomenological study was to explore the experiences of small business owners in Ghana. The conceptual framework was based on the theory of disruptive innovation. Disruptive innovation describes a method that enables business owners to create a new market. Data were collected through interviews from 20 participants who owned small businesses and succeeded beyond 5 years in Accra, Ghana. Member checking was used to strengthen the credibility and trustworthiness of the interpretation of the participants\u27 responses. The findings highlighted 19 skills, which coalesced into 6 emerging themes: business model, innovative strategies, marketing skills, effective supervision, human relations, and commitment, punctuality, and focus. The findings from this study may contribute to social change by indicating some skills and strategies that business owners could use to sustain the profitability of their companies. The data from this study may contribute to the prosperity of small business owners, their employees, and the surrounding community

Effect of Power Supply on the performance of Small and Medium Size Enterprises: A comparative analysis between SMEs in Tema and the Northern part of Ghana

Electricity provision in Ghana has been marred by low generation, poor supply and frequent power outages. The situation compel firms to adopt strategies to cope with this poor public supply of power for their business. To this end, this study analysed the effect of power supply on the performance of SMEs: a comparative analysis between two regions in Ghana where Small and Medium firms are located. The study uses the current World Bank 2013 Enterprise Survey on Ghana which consist of 710 firms. The study employs both chi-square and t-test to do pattern analysis. In addition, ordinary regression analysis (OLS) was employed to regress firm performance variable on electricity supply variable and other covariates. The results show that, the presence of power outages, thus, the number of times power outages experienced and hours of power outages negatively affected firms performance (profitability). In addition, it was further realized that power outages (power interruptions) severely affects SMEs located in the Northern part of Ghana than SMEs located elsewhere. The study therefore recommends that government should implement policies and programs such as power mix approach and renewable energy and bring in private sector participation to install competition and efficiency. This is in the interest to mitigate the unreliable electricity supply. Also, SMEs should consider alternative sources of power such as solar power, inverter, biogas, generators, which would help curb the cost power outage brings to their production and to boost output