Exploring the Challenges and Barriers in Accessing Financial Facilities by Small and Medium Construction Firms in Ghana

Francis Kwesi Bondinuba


This study sought to explore the challenges and barriers facing Small and Medium Construction Firms (SMCFs) in Ghana in their quest to access finance from financial institutions for their business purposes. This study was a cross-sectional survey that used semi-structured questionnaire to collect data from the sample. 50 questionnaires were distributed to construction firms in Kumasi and Accra Metropolis through a convenience sampling technique. The findings are that the key challenges that make it difficult for SMCFs to access finance include policy regulation, inadequate financial infrastructure, stringent collateral security requirement, and lack of institutional capacity of SMCF sector. The key barriers identified include informational barriers, lack of managerial skills with SMCFs. Limitations of the study have been noted and recommendations for developing innovative approaches to making finance accessible to SMCFs in Ghana have been discussed. The study contributes to the body of knowledge in the area of financing construction firms in developing countries in general, and in Ghana in particular.

Keywords: Access, Challenges, Finance, Construction firms, Ghana.


Full Text: PDF
Download the IISTE publication guideline!

To list your conference here. Please contact the administrator of this platform.

Paper submission email: CER@iiste.org

ISSN (Paper)2224-5790 ISSN (Online)2225-0514

Please add our address "contact@iiste.org" into your email contact list.

This journal follows ISO 9001 management standard and licensed under a Creative Commons Attribution 3.0 License.

Copyright © www.iiste.org