Main Article Content
Abstract
Purpose: The objectives of the study were to critically investigate the challenges faced by SMEs; to analyze SMEs difficulties during adopting new technologies and to critically investigate the difficulties in the form of policies and procedures.
Design/methodology/approach: For this research study, purposive sampling methodology was adopted. Using a well-defined questionnaire, 257 samples were collected from all over Oman. The data collected was recorded, tabulated, summarized and the tests – Chi-square tests, Kolmogorov-Smirnov tests and regression analysis were carried to obtain the results.
Findings: The study reveals that most of the respondents got delay in the commencement of business due to lack of finance. It is also revealed that the SMEs are in dire need of technical support at the time of commencement of their businesses and need support to establish IT infrastructure.
Research limitations/Implications: The study suggests that the adequate support from General Authority for SMEs can change the scenario of setting up of the SMEs in a smooth transition and the interim advances by the financial institutions can help them avoid time lag.
Social implications: The study suggests that the Governmental authority should monitor and follow up SMEs to avoid the SME units becoming sick and provide technical support, guidance and nurse the units, if they become sick. Also, the licensing for the SME units should be made easier through single window system.
Originality/Value: Only a very few have examined the main challenges faced by SMEs in Oman. Our study includes selected samples of SMEs and not the micro enterprises. The study can further be extended to all the MSMEs in all the regions / Governorates of Oman.
Keywords
Small and Medium Enterprises
Challenges faced by SMEs
Finance
Technology
Policies and Procedures
SMEs in Oman
Omanization
Technology adoption
Article Details
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Authors retain the copyright without restrictions for their published content in this journal. IJMIER is SHERPA ROMEO Journal.
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How to Cite
Al Buraiki, M. A., & Rahman Khan, D. M. F. (2018). FINANCE AND TECHNOLOGY: KEY CHALLENGES FACED BY SMALL AND MEDIUM ENTERPRISES (SMES) IN OMAN. International Journal of Management, Innovation & Entrepreneurial Research, 4(2), 01–12. https://doi.org/10.18510/ijmier.2018.421
References
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Agwu, M.O.&Emeti,C.I. (2014).Issues, Challenges and Prospects of Small and Medium Scale Enterprises (SMEs) in Port-Harcourt City, Nigeria, European Journal of Sustainable Development, 3(1), 101-114. doi:http://dx.doi.org/10.14207/ejsd.2014.v3n1p101
Al Barwani, K.M., Al Jahwari, M.R., Al Saidi, A.S, & Al Mahrouqi, F.S. (2014). Towards a Growing, Competitive and Dynamic Small and Medium – sizedEnterprises Sector in Oman: Strategy and Policies, Central Bank of Oman – Occasional Paper, 1-66, Retrieved from https://www.scribd.com/document/342039819/SME-Sector-in-Oman-Paper
Al Bulushi, B.H.S. & Bagum, S. (2017). Growth Strategies of SME in Oman – Issues & Challenges. International Journal of Small Business & Entrepreneurship Research, 5(2), 21-61,Retrieved fromhttp://www.eajournals.org/wp-content/uploads/Growth-Strategies-of-SME-in-Oman-Issues-and-Challenges.pdf
Al Rahbi, H.S.A. (2017).Factors Influencing Social Media Adoption in Small and Medium Enterprises (SMEs),Degree of Doctor of Philosophy Thesis submitted to Department of Computer Science, Brunel University London, 1-261,Retrieved from http://bura.brunel.ac.uk/handle/2438/14514
Al Shezawi, H.A. & Khan, F.R. (2018). In-Country Value (ICV) – Entrepreneurial Opportunities in the Companies of Oman. International Journal of Management, Innovation & Entrepreneurial Research, 4(1), 25-41. doi: https://doi.org/10.18510/ijmier.2018.415
Ashrafi, R., Sharma, S.K., Al-Badi, A.H. & Al-Gharbi, K. (2014). Achieving Business Success Through Information and Communication Technologies Adoption by Small and Medium Enterprises in Oman,Middle-East Journal of Scientific Research, 22 (1), 138-146. doi: http://dx.doi.org/10.5829/idosi.mejsr.2014.22.01.21835
Christina, B., Neelufer, A. & Al Amri, S. (2014). Challenges and Barriers Encountered by The SMEs Owners in Muscat, International Journal of Small Business and Entrepreneurship Research, 2(3), 1-13, Retrieved from http://eajournals.org/wp-content/uploads/Challenges-and-Barriers-Encountered-By-the-SMES-Owners-in-Muscat.pdf
Eniola, A.A. &, Entebang, H. (2013). SME Firm Performance-Financial Innovation and Challenges, Procedia –Socialand Behavioral Sciences, Vol.195, 334-342. doi:https://doi.org/10.1016/j.sbspro.2015.06.361
Farsi, J. Y. & Toghraee,M.T. (2014). Identification the main challenges of small and medium sized enterprises in exploiting of innovative opportunities (Case study: Iran SMEs), Journal of Global Entrepreneurship Research, 4(4), 1-15. doi: http://dx.doi.org/10.1186/2251-7316-2-4
Gulani, M.G. &Usman A. (2013). Financing Small and Medium Scale Enterprises (SMEs): A Challenge for Entrepreneurial Development in Gombe State,Asian Journal of Business and Management Sciences, 2(9), 17-23.Retrieved from https://pdfs.semanticscholar.org/5ad1/c8df791727d2b835495020a3925feb1fdbdc.pdf
Khan, F.R. (2009). Financial Impact on Entrepreneurial Development across Industrial Estates of Chennai, State of Tamil Nadu, India. Journal for Global Business Advancement (JGBA), 6(1), ISSN 1549-9332, 116-125 available at http://www.agba.us/pdf/2009-AGBA-Malaysia-proceedings.pdf
Khan, F. R. (2014). Socio-Economic Factors Influencing Entrepreneurship Development: An Empirical Study across the Small and Medium Enterprises of Chennai, State of Tamil Nadu, India. Journal for Global Business Advancement (JGBA), 2009, 2(3), 89-94, ISSN 1549-9332, Retrieved from http://www.agba.us/pdf/2009-AGBA-Malaysia-proceedings.pdf
Khan, F.R. (2015). Women Entrepreneurship in Chennai, India – Factors Trigger and Prevent, International Journal of Management, Innovation and Entrepreneurial Research (IJMIER), 1(1), 22-31. doi: http://dx.doi.org/10.18510/ijmier.2015.115
Khan, F.R. & Krishnumurthy, J. (2016). Future proofing of tourism entrepreneurship in Oman: challenges and prospects. Journal of Work-Applied Management, 8(1), 79 – 94. doi: http://dx.doi.org/10.1108/JWAM-06-2016-0008
Kambwale, J.N., Chisoro, C. & Karodia, A.M. (2015).Investigation into the Causes of Small and Medium Enterprise Failures in Windhoek, Namibia, Arabian Journal of Business and Management Review (OMAN Chapter), 4(7), 80-85,Retrieved from https://www.arabianjbmr.com/pdfs/OM_VOL_4_(7)/7.pdf
Nusrat, S. & Wickramasinghe,J.T. (2014). Impact and Role of SME Bank Loans in Oman, International Journal of Humanities and Social Sciences, 7(3), 315-330, Retrieved fromhttps://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=2&cad=rja&uact=8&ved=0ahUKEwirxPuTlJzaAhWDLVAKHdQCDdcQFggtMAE&url=http%3A%2F%2Fwww.iaset.us%2Fdownload-coference.php%3Ffn ame%3Dconf-15204-1403865598-27%2520Abstract.pdf&usg =AOvVaw3cnhu3kUiAKgOzVUDYGWph
OECD (2004). Financing Innovative SMEs in a Global Economy, 2nd OECD Conference of Ministers responsible for Small and Medium-sized Enterprises, Organization for Economic Cooperation and Development, 1-47, Retrieved fromhttp://www.oecd.org/cfe/smes/31919231.pdf
Okoth, M. O. (2013). Challenges of Financing Small & Medium Enterprises (SMEs) Inequity Bank Branches in Kenya, Master of Business Administration research Project submitted to School of Business, University of Nairobi, 1-59, Retrieved from http://erepository.uonbi.ac.ke/bitstream/handle/11295/60638/Okoth_Challenges%20of%20financing%20Small%20%26%20Medium%20Enterprises%20%5BSMEs%5D%20inequity%20bank%20branches%20in%20Kenya?sequence=3&isAllowed=y
Onugu, B. A. N. (2005) Small and Medium Enterprises (SMEs) in Nigeria: Problems and Prospects.PhD Dissertation submitted to St. Clements University, Lagos, Nigeria, 1-114, Retrieved from http://stclements.edu/grad/gradonug.pdf
Opafunso, Z. O.& Adepoju, O. O.(2014). The Impact of Small and Medium Scale Enterprises on Economic Development of Ekiti State, Nigeria.Journal of Economics and Sustainable Development, 5(16), 115-122,Retrieved from http://iiste.org/Journals/index.php/JEDS/article/view/15342
Saleh S. (2012).Business, Barriers and Benefits: E-Business for SMEs in the Sultanate of Oman.International Journal of Business and Management Studies, 1(2), 405-422, Retrieved from http://universitypublications.net/ijbms/0102/pdf/RAB139.pdf
Stevenson, T. & Pond K.(2016). SME lending decisions – the case of UK and German banks: An international comparison, Studies in Economics and Finance, 33(4), 501-508. doi: https://doi.org/10.1108/SEF-12-2014-0243
Tarute, A. & Gatautis, R. (2014). ICT Impact on SMEs Performance, Procedia –Social Behavioral Sciences, 110, 1218-1225. doi:http://dx.doi.org/10.1016/j.sbspro.2013.12.968
Uddin M.A. (2014).Problems Faced By Micro, Small And Medium Enterprises in Raising Debt Capital. Proceedings of the International conference on Social Sciences Research, Jun. 2014, 176-185. Retrieved from https://worldconferences.net/proceedings/icssr2014/toc/papers_icssr2014/IC%20071%20Mohammed%20Ahmar%20Uddin%20-%20Problems%20Faced%20by%20Micro,%20Small%20and%20Medium%20Enterprises%20in%20Raising%20Debt%20Capital.pdf
Wang X. (2013.) The Impact of Microfinance on the Development of Small and Medium Enterprises: The Case of Taizhou, China, 11-12. Retrieved from https://pdfs.semanticscholar.org/1b66/b196a1c3b2e05a60be8370be596166c93645.pdf?_ga=2.64206127.1497440318.1539839351-1571518913.1539839351
Yoshino, N. & Taghizadeh-Hesary, F.(2016). Major Challenges Facing Small and Medium - sized Enterprises in Asia and Solutions for Mitigating Them, ADBI working paper series-564, Asian Development Bank Institute, Tokyo, 1-20,Retrieved from https://core.ac.uk/download/pdf/93367645.pdf
References
Agwu, M.O.&Emeti,C.I. (2014).Issues, Challenges and Prospects of Small and Medium Scale Enterprises (SMEs) in Port-Harcourt City, Nigeria, European Journal of Sustainable Development, 3(1), 101-114. doi:http://dx.doi.org/10.14207/ejsd.2014.v3n1p101
Al Barwani, K.M., Al Jahwari, M.R., Al Saidi, A.S, & Al Mahrouqi, F.S. (2014). Towards a Growing, Competitive and Dynamic Small and Medium – sizedEnterprises Sector in Oman: Strategy and Policies, Central Bank of Oman – Occasional Paper, 1-66, Retrieved from https://www.scribd.com/document/342039819/SME-Sector-in-Oman-Paper
Al Bulushi, B.H.S. & Bagum, S. (2017). Growth Strategies of SME in Oman – Issues & Challenges. International Journal of Small Business & Entrepreneurship Research, 5(2), 21-61,Retrieved fromhttp://www.eajournals.org/wp-content/uploads/Growth-Strategies-of-SME-in-Oman-Issues-and-Challenges.pdf
Al Rahbi, H.S.A. (2017).Factors Influencing Social Media Adoption in Small and Medium Enterprises (SMEs),Degree of Doctor of Philosophy Thesis submitted to Department of Computer Science, Brunel University London, 1-261,Retrieved from http://bura.brunel.ac.uk/handle/2438/14514
Al Shezawi, H.A. & Khan, F.R. (2018). In-Country Value (ICV) – Entrepreneurial Opportunities in the Companies of Oman. International Journal of Management, Innovation & Entrepreneurial Research, 4(1), 25-41. doi: https://doi.org/10.18510/ijmier.2018.415
Ashrafi, R., Sharma, S.K., Al-Badi, A.H. & Al-Gharbi, K. (2014). Achieving Business Success Through Information and Communication Technologies Adoption by Small and Medium Enterprises in Oman,Middle-East Journal of Scientific Research, 22 (1), 138-146. doi: http://dx.doi.org/10.5829/idosi.mejsr.2014.22.01.21835
Christina, B., Neelufer, A. & Al Amri, S. (2014). Challenges and Barriers Encountered by The SMEs Owners in Muscat, International Journal of Small Business and Entrepreneurship Research, 2(3), 1-13, Retrieved from http://eajournals.org/wp-content/uploads/Challenges-and-Barriers-Encountered-By-the-SMES-Owners-in-Muscat.pdf
Eniola, A.A. &, Entebang, H. (2013). SME Firm Performance-Financial Innovation and Challenges, Procedia –Socialand Behavioral Sciences, Vol.195, 334-342. doi:https://doi.org/10.1016/j.sbspro.2015.06.361
Farsi, J. Y. & Toghraee,M.T. (2014). Identification the main challenges of small and medium sized enterprises in exploiting of innovative opportunities (Case study: Iran SMEs), Journal of Global Entrepreneurship Research, 4(4), 1-15. doi: http://dx.doi.org/10.1186/2251-7316-2-4
Gulani, M.G. &Usman A. (2013). Financing Small and Medium Scale Enterprises (SMEs): A Challenge for Entrepreneurial Development in Gombe State,Asian Journal of Business and Management Sciences, 2(9), 17-23.Retrieved from https://pdfs.semanticscholar.org/5ad1/c8df791727d2b835495020a3925feb1fdbdc.pdf
Khan, F.R. (2009). Financial Impact on Entrepreneurial Development across Industrial Estates of Chennai, State of Tamil Nadu, India. Journal for Global Business Advancement (JGBA), 6(1), ISSN 1549-9332, 116-125 available at http://www.agba.us/pdf/2009-AGBA-Malaysia-proceedings.pdf
Khan, F. R. (2014). Socio-Economic Factors Influencing Entrepreneurship Development: An Empirical Study across the Small and Medium Enterprises of Chennai, State of Tamil Nadu, India. Journal for Global Business Advancement (JGBA), 2009, 2(3), 89-94, ISSN 1549-9332, Retrieved from http://www.agba.us/pdf/2009-AGBA-Malaysia-proceedings.pdf
Khan, F.R. (2015). Women Entrepreneurship in Chennai, India – Factors Trigger and Prevent, International Journal of Management, Innovation and Entrepreneurial Research (IJMIER), 1(1), 22-31. doi: http://dx.doi.org/10.18510/ijmier.2015.115
Khan, F.R. & Krishnumurthy, J. (2016). Future proofing of tourism entrepreneurship in Oman: challenges and prospects. Journal of Work-Applied Management, 8(1), 79 – 94. doi: http://dx.doi.org/10.1108/JWAM-06-2016-0008
Kambwale, J.N., Chisoro, C. & Karodia, A.M. (2015).Investigation into the Causes of Small and Medium Enterprise Failures in Windhoek, Namibia, Arabian Journal of Business and Management Review (OMAN Chapter), 4(7), 80-85,Retrieved from https://www.arabianjbmr.com/pdfs/OM_VOL_4_(7)/7.pdf
Nusrat, S. & Wickramasinghe,J.T. (2014). Impact and Role of SME Bank Loans in Oman, International Journal of Humanities and Social Sciences, 7(3), 315-330, Retrieved fromhttps://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=2&cad=rja&uact=8&ved=0ahUKEwirxPuTlJzaAhWDLVAKHdQCDdcQFggtMAE&url=http%3A%2F%2Fwww.iaset.us%2Fdownload-coference.php%3Ffn ame%3Dconf-15204-1403865598-27%2520Abstract.pdf&usg =AOvVaw3cnhu3kUiAKgOzVUDYGWph
OECD (2004). Financing Innovative SMEs in a Global Economy, 2nd OECD Conference of Ministers responsible for Small and Medium-sized Enterprises, Organization for Economic Cooperation and Development, 1-47, Retrieved fromhttp://www.oecd.org/cfe/smes/31919231.pdf
Okoth, M. O. (2013). Challenges of Financing Small & Medium Enterprises (SMEs) Inequity Bank Branches in Kenya, Master of Business Administration research Project submitted to School of Business, University of Nairobi, 1-59, Retrieved from http://erepository.uonbi.ac.ke/bitstream/handle/11295/60638/Okoth_Challenges%20of%20financing%20Small%20%26%20Medium%20Enterprises%20%5BSMEs%5D%20inequity%20bank%20branches%20in%20Kenya?sequence=3&isAllowed=y
Onugu, B. A. N. (2005) Small and Medium Enterprises (SMEs) in Nigeria: Problems and Prospects.PhD Dissertation submitted to St. Clements University, Lagos, Nigeria, 1-114, Retrieved from http://stclements.edu/grad/gradonug.pdf
Opafunso, Z. O.& Adepoju, O. O.(2014). The Impact of Small and Medium Scale Enterprises on Economic Development of Ekiti State, Nigeria.Journal of Economics and Sustainable Development, 5(16), 115-122,Retrieved from http://iiste.org/Journals/index.php/JEDS/article/view/15342
Saleh S. (2012).Business, Barriers and Benefits: E-Business for SMEs in the Sultanate of Oman.International Journal of Business and Management Studies, 1(2), 405-422, Retrieved from http://universitypublications.net/ijbms/0102/pdf/RAB139.pdf
Stevenson, T. & Pond K.(2016). SME lending decisions – the case of UK and German banks: An international comparison, Studies in Economics and Finance, 33(4), 501-508. doi: https://doi.org/10.1108/SEF-12-2014-0243
Tarute, A. & Gatautis, R. (2014). ICT Impact on SMEs Performance, Procedia –Social Behavioral Sciences, 110, 1218-1225. doi:http://dx.doi.org/10.1016/j.sbspro.2013.12.968
Uddin M.A. (2014).Problems Faced By Micro, Small And Medium Enterprises in Raising Debt Capital. Proceedings of the International conference on Social Sciences Research, Jun. 2014, 176-185. Retrieved from https://worldconferences.net/proceedings/icssr2014/toc/papers_icssr2014/IC%20071%20Mohammed%20Ahmar%20Uddin%20-%20Problems%20Faced%20by%20Micro,%20Small%20and%20Medium%20Enterprises%20in%20Raising%20Debt%20Capital.pdf
Wang X. (2013.) The Impact of Microfinance on the Development of Small and Medium Enterprises: The Case of Taizhou, China, 11-12. Retrieved from https://pdfs.semanticscholar.org/1b66/b196a1c3b2e05a60be8370be596166c93645.pdf?_ga=2.64206127.1497440318.1539839351-1571518913.1539839351
Yoshino, N. & Taghizadeh-Hesary, F.(2016). Major Challenges Facing Small and Medium - sized Enterprises in Asia and Solutions for Mitigating Them, ADBI working paper series-564, Asian Development Bank Institute, Tokyo, 1-20,Retrieved from https://core.ac.uk/download/pdf/93367645.pdf
Al Barwani, K.M., Al Jahwari, M.R., Al Saidi, A.S, & Al Mahrouqi, F.S. (2014). Towards a Growing, Competitive and Dynamic Small and Medium – sizedEnterprises Sector in Oman: Strategy and Policies, Central Bank of Oman – Occasional Paper, 1-66, Retrieved from https://www.scribd.com/document/342039819/SME-Sector-in-Oman-Paper
Al Bulushi, B.H.S. & Bagum, S. (2017). Growth Strategies of SME in Oman – Issues & Challenges. International Journal of Small Business & Entrepreneurship Research, 5(2), 21-61,Retrieved fromhttp://www.eajournals.org/wp-content/uploads/Growth-Strategies-of-SME-in-Oman-Issues-and-Challenges.pdf
Al Rahbi, H.S.A. (2017).Factors Influencing Social Media Adoption in Small and Medium Enterprises (SMEs),Degree of Doctor of Philosophy Thesis submitted to Department of Computer Science, Brunel University London, 1-261,Retrieved from http://bura.brunel.ac.uk/handle/2438/14514
Al Shezawi, H.A. & Khan, F.R. (2018). In-Country Value (ICV) – Entrepreneurial Opportunities in the Companies of Oman. International Journal of Management, Innovation & Entrepreneurial Research, 4(1), 25-41. doi: https://doi.org/10.18510/ijmier.2018.415
Ashrafi, R., Sharma, S.K., Al-Badi, A.H. & Al-Gharbi, K. (2014). Achieving Business Success Through Information and Communication Technologies Adoption by Small and Medium Enterprises in Oman,Middle-East Journal of Scientific Research, 22 (1), 138-146. doi: http://dx.doi.org/10.5829/idosi.mejsr.2014.22.01.21835
Christina, B., Neelufer, A. & Al Amri, S. (2014). Challenges and Barriers Encountered by The SMEs Owners in Muscat, International Journal of Small Business and Entrepreneurship Research, 2(3), 1-13, Retrieved from http://eajournals.org/wp-content/uploads/Challenges-and-Barriers-Encountered-By-the-SMES-Owners-in-Muscat.pdf
Eniola, A.A. &, Entebang, H. (2013). SME Firm Performance-Financial Innovation and Challenges, Procedia –Socialand Behavioral Sciences, Vol.195, 334-342. doi:https://doi.org/10.1016/j.sbspro.2015.06.361
Farsi, J. Y. & Toghraee,M.T. (2014). Identification the main challenges of small and medium sized enterprises in exploiting of innovative opportunities (Case study: Iran SMEs), Journal of Global Entrepreneurship Research, 4(4), 1-15. doi: http://dx.doi.org/10.1186/2251-7316-2-4
Gulani, M.G. &Usman A. (2013). Financing Small and Medium Scale Enterprises (SMEs): A Challenge for Entrepreneurial Development in Gombe State,Asian Journal of Business and Management Sciences, 2(9), 17-23.Retrieved from https://pdfs.semanticscholar.org/5ad1/c8df791727d2b835495020a3925feb1fdbdc.pdf
Khan, F.R. (2009). Financial Impact on Entrepreneurial Development across Industrial Estates of Chennai, State of Tamil Nadu, India. Journal for Global Business Advancement (JGBA), 6(1), ISSN 1549-9332, 116-125 available at http://www.agba.us/pdf/2009-AGBA-Malaysia-proceedings.pdf
Khan, F. R. (2014). Socio-Economic Factors Influencing Entrepreneurship Development: An Empirical Study across the Small and Medium Enterprises of Chennai, State of Tamil Nadu, India. Journal for Global Business Advancement (JGBA), 2009, 2(3), 89-94, ISSN 1549-9332, Retrieved from http://www.agba.us/pdf/2009-AGBA-Malaysia-proceedings.pdf
Khan, F.R. (2015). Women Entrepreneurship in Chennai, India – Factors Trigger and Prevent, International Journal of Management, Innovation and Entrepreneurial Research (IJMIER), 1(1), 22-31. doi: http://dx.doi.org/10.18510/ijmier.2015.115
Khan, F.R. & Krishnumurthy, J. (2016). Future proofing of tourism entrepreneurship in Oman: challenges and prospects. Journal of Work-Applied Management, 8(1), 79 – 94. doi: http://dx.doi.org/10.1108/JWAM-06-2016-0008
Kambwale, J.N., Chisoro, C. & Karodia, A.M. (2015).Investigation into the Causes of Small and Medium Enterprise Failures in Windhoek, Namibia, Arabian Journal of Business and Management Review (OMAN Chapter), 4(7), 80-85,Retrieved from https://www.arabianjbmr.com/pdfs/OM_VOL_4_(7)/7.pdf
Nusrat, S. & Wickramasinghe,J.T. (2014). Impact and Role of SME Bank Loans in Oman, International Journal of Humanities and Social Sciences, 7(3), 315-330, Retrieved fromhttps://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=2&cad=rja&uact=8&ved=0ahUKEwirxPuTlJzaAhWDLVAKHdQCDdcQFggtMAE&url=http%3A%2F%2Fwww.iaset.us%2Fdownload-coference.php%3Ffn ame%3Dconf-15204-1403865598-27%2520Abstract.pdf&usg =AOvVaw3cnhu3kUiAKgOzVUDYGWph
OECD (2004). Financing Innovative SMEs in a Global Economy, 2nd OECD Conference of Ministers responsible for Small and Medium-sized Enterprises, Organization for Economic Cooperation and Development, 1-47, Retrieved fromhttp://www.oecd.org/cfe/smes/31919231.pdf
Okoth, M. O. (2013). Challenges of Financing Small & Medium Enterprises (SMEs) Inequity Bank Branches in Kenya, Master of Business Administration research Project submitted to School of Business, University of Nairobi, 1-59, Retrieved from http://erepository.uonbi.ac.ke/bitstream/handle/11295/60638/Okoth_Challenges%20of%20financing%20Small%20%26%20Medium%20Enterprises%20%5BSMEs%5D%20inequity%20bank%20branches%20in%20Kenya?sequence=3&isAllowed=y
Onugu, B. A. N. (2005) Small and Medium Enterprises (SMEs) in Nigeria: Problems and Prospects.PhD Dissertation submitted to St. Clements University, Lagos, Nigeria, 1-114, Retrieved from http://stclements.edu/grad/gradonug.pdf
Opafunso, Z. O.& Adepoju, O. O.(2014). The Impact of Small and Medium Scale Enterprises on Economic Development of Ekiti State, Nigeria.Journal of Economics and Sustainable Development, 5(16), 115-122,Retrieved from http://iiste.org/Journals/index.php/JEDS/article/view/15342
Saleh S. (2012).Business, Barriers and Benefits: E-Business for SMEs in the Sultanate of Oman.International Journal of Business and Management Studies, 1(2), 405-422, Retrieved from http://universitypublications.net/ijbms/0102/pdf/RAB139.pdf
Stevenson, T. & Pond K.(2016). SME lending decisions – the case of UK and German banks: An international comparison, Studies in Economics and Finance, 33(4), 501-508. doi: https://doi.org/10.1108/SEF-12-2014-0243
Tarute, A. & Gatautis, R. (2014). ICT Impact on SMEs Performance, Procedia –Social Behavioral Sciences, 110, 1218-1225. doi:http://dx.doi.org/10.1016/j.sbspro.2013.12.968
Uddin M.A. (2014).Problems Faced By Micro, Small And Medium Enterprises in Raising Debt Capital. Proceedings of the International conference on Social Sciences Research, Jun. 2014, 176-185. Retrieved from https://worldconferences.net/proceedings/icssr2014/toc/papers_icssr2014/IC%20071%20Mohammed%20Ahmar%20Uddin%20-%20Problems%20Faced%20by%20Micro,%20Small%20and%20Medium%20Enterprises%20in%20Raising%20Debt%20Capital.pdf
Wang X. (2013.) The Impact of Microfinance on the Development of Small and Medium Enterprises: The Case of Taizhou, China, 11-12. Retrieved from https://pdfs.semanticscholar.org/1b66/b196a1c3b2e05a60be8370be596166c93645.pdf?_ga=2.64206127.1497440318.1539839351-1571518913.1539839351
Yoshino, N. & Taghizadeh-Hesary, F.(2016). Major Challenges Facing Small and Medium - sized Enterprises in Asia and Solutions for Mitigating Them, ADBI working paper series-564, Asian Development Bank Institute, Tokyo, 1-20,Retrieved from https://core.ac.uk/download/pdf/93367645.pdf