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CRITICAL FACTORS ASSOCIATED WITH THE ACCESS TO BANK CREDIT: AN EXPLORATORY STUDY
Corresponding Author(s) : Ali Raza Elahi
Humanities & Social Sciences Reviews,
Vol. 9 No. 3 (2021): May
Abstract
Purpose of the study: The purpose of the current study is to get subjective information from SMEs about their views and elicit the experience of getting loans and why not getting loans.
Methodology: This study has been used qualitative research and findings have been gathered using face-to-face in-depth semi-structured interviews.
Main Findings: Findings showed that there are two types of SME firms categorized in 1) Firms that are willing to take a loan but unable to get them and 2) Firms that have access to finance but don’t want to obtain them, different themes have been extracted from the aforementioned categorization.
Applications of this study: This research can be effective to develop an economy in terms of employment generation, human resource development, value addition, poverty alleviation, income equality, entrepreneurial culture, and innovation, and Pakistan is no exception in this regard.
Novelty/Originality of this study: The study is contributing to running a manufacturing unit, usually a large land area is required. Moreover, business locations are preferred near to markets for ease of doing business. Since all these preferred choices require a lot of money to incur for capital expenditure which is hardly available for SMEs.
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References
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Calabrese, R., Degl’Innocenti, M., & Zhou, S. (2020). Expectations of access to debt finance for SMEs in times of uncertainty. Journal of Small Business Management, 1-28. https://doi.org/10.1080/00472778.2020.1756309 DOI: https://doi.org/10.1080/00472778.2020.1756309
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Fernández-Olit, B., Paredes-Gázquez, J. D., & de la Cuesta-González, M. (2018). Are social and financial exclusion two sides of the same coin? An analysis of the financial integration of vulnerable people. Social Indicators Research 135(1), 245-268. https://doi.org/10.1007/s11205-016-1479-y DOI: https://doi.org/10.1007/s11205-016-1479-y
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Gherghina, Ș. C., Botezatu, M. A., Hosszu, A., & Simionescu, L. N. (2020). Small and Medium-Sized Enterprises (SMEs): The Engine of Economic Growth through Investments and Innovation. Sustainability, 12(1), 347. https://doi.org/10.3390/su12010347 DOI: https://doi.org/10.3390/su12010347
Ghisetti, C., & Montresor, S. (2020). On the adoption of circular economy practices by small and medium-size enterprises (SMEs): does “financing-as-usual†still matter? Journal of Evolutionary Economics, 30(2), 559-586. https://doi.org/10.1007/s00191-019-00651-w DOI: https://doi.org/10.1007/s00191-019-00651-w
Green, A. (2003). Credit guarantee schemes for small enterprises: an effective instrument to promote private sector-led growth? UNIDO, Programme Development and Technical Cooperation Division.
Guttmann, R. (2016). How Credit-money Shapes the Economy: The United States in a Global System: The United States in a Global System: Routledge. https://doi.org/10.4324/9781315485973 DOI: https://doi.org/10.4324/9781315485973
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Mazanai, M., & Fatoki, O. (2012). Access to finance in the SME sector: A South African perspective. Asian journal of business management, 4(1), 58-67.
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Mertzanis, C. (2017). Ownership structure and access to finance in developing countries. Applied Economics, 49(32), 3195-3213. https://doi.org/10.1080/00036846.2016.1257106 DOI: https://doi.org/10.1080/00036846.2016.1257106
Mishra, N. (2019). Knowledge management practice for effective operations in SMEs. Production Planning & Control, 30(10-12), 795-798. https://doi.org/10.1080/09537287.2019.1582108 DOI: https://doi.org/10.1080/09537287.2019.1582108
Mole, S. A., & Namusonge, G. (2016). Factors affecting access to credit by small and medium enterprises: A case of Kitale Town. The International Journal of Social Sciences and Humanities Invention, 3(10), 2904-2917. https://doi.org/10.18535/ijsshi/v3i10.12 DOI: https://doi.org/10.18535/ijsshi/v3i10.12
Morsy, H. (2020). Access to finance–mind the gender gap. The Quarterly Review of Economics and Finance, 78(0), 12-21. https://doi.org/10.1016/j.qref.2020.02.005 DOI: https://doi.org/10.1016/j.qref.2020.02.005
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