Resourcing Small and Medium Enterprises: Owners Willingness to Seek Funding From Banks in Ghana

One of the most important resources required by owners of Small and Medium Enterprises (SMEs) in their operation is capital. When internal funds become inadequate for the running of the business, the need arises for owners to seek external funding to support what is generated internally. Many SMEs in Ghana have not utilized the banks in their pursuit for external funding and that is a source of worry for both parties. This study was then motivated to find out the factors contributing to this action. A sample size of 125 SME owners was made to respond to questions pertaining to the objective of the study. The data generated was analyzed using an Econometric views regression model called the probit model and it turned out that, four out of the eight variables used in the study had significant effect on the willingness of SMEs owners to seek funding from banks. The study therefore concluded among other things that, firms prefer to deal with banks they are not familiar with and also innovative oriented firms are not necessarily large firms. Keywords: Resourcing, willingness, funding, banks, SME, internal, external, fundin

Determinants of Entrepreneurial Role Model Selection among Tertiary Students: Views from Students of Kumasi Polytechnic in Ghana

The main objective of this study has been to unearth some of the factors capable of informing the youth on their role model selection.  It has been discovered that role models can affect the lives of prospective entrepreneurs and so there is the need to identify the factors that could influence the selection of role models who can be more inspirational to the youth. The study adopted Kumasi Polytechnic as a case study. The entire data for the analysis was exclusively primary and was collected from final year students since they were exiting the institution. The sampling technique was multi facetted through the use of stratification and random sampling methods. The dependent variable in the study was Role model selection which was dichotomized and for that matter the Logistic model was adopted for the analysis. Some of the independent variables were, Educational background of the proposed role model, Years of experience of the model, Risk in the model’s business, his age, Source of his wealth, proximity and contact with student, Foreign experience, and others. The regression was run to determine how they would influence the selection process. The results indicated that only five of these variables were significant and could affect the probability of selecting a role model even though the combine effect of all the variables was also significant. KEYWORDS: Role models, entrepreneurial, Tertiary students, Kumasi Polytechni

Parent Entrepreneurs: to What Extent Can They Influence Their Children to Become Entrepreneurs?

Many parents have not succeeded in using the mere fact that they are entrepreneurs to influence their children to also become entrepreneurs. This has been one of the reasons why many private businesses have collapsed. Since other researchers have concentrated on factors about the prospective entrepreneur as driving force, this research concentrates on parents as driving force for children. It therefore became necessary to discover other factors which parents could use to create this influence. A hypothesis was tested and that directed the focus of this study. 303 children who were 18 years and above and had entrepreneurial parents were sampled for the study. A questionnaire was used to generate primary data for the study. The dependent variable in the model was BEPI (Becoming an Entrepreneur through Parental Influence) was dichotomized so according to (Gujurati 2006), the Probit model was recommended for the analysis. Out of the five explanatory variables which were used in the analysis (Lifestyle of parents (LOP), Similarity in characteristics (SIC), Success in Business (SIB), Tides between child and parent (TCP) and Parent having other entrepreneurial friends(PEF)) four showed a positive correlation with BEPI except PEF which showed negative correlation. All the variables were significant at 1%, 5% or 10%. LOP was significant at 10%, PEF at 5% and TCP, SIC SIB were all at 1%

ECONOMICS OF TOMATO MARKETING IN ASHANTI REGION, GHANA

The perishable nature of most agricultural produce and the concomitant need for effective marketing outlets carries along huge economic consequences, especially in developing countries like Ghana. This study examines the determinants of profit in tomato marketing in the Ashanti Region of Ghana. Cross-sectional data collected from a random sample of 200 tomato marketers consisting of 100 wholesalers and 100 retailers were analyzed using descriptive statistics and the multiple linear regression technique of the ordinary least squares. The results show that wholesalers have a higher margin of 99.7 percent, while the retailers have a margin of 75.4 percent. Labour cost, purchase price, transportation cost and selling price run through all the estimated regressions as determinants of marketing profit. The effects of these variables on marketing profit could raise public concern since they have implications on prices received by tomato producers and those paid by final consumers and therefore there is the need for the government to devise policies aimed at stabilizing the local currency.The results also call for policy efforts to completely eliminate illiteracy among tomato traders in Ghana especially in the Ashanti Region. Policies that could enable the retailers to increase their scale of operations are also advocated. Future researchers may also estimate the exact point in the age variable at which retail profit declines and possible antecedents