ASSESSING THE IMPACT FINANCIAL LITERACY ON THE PERFORMANCE OF SMALL AND MEDIUM ENTERPRISES IN GHANA

Twene, Mr Seth (2026) ASSESSING THE IMPACT FINANCIAL LITERACY ON THE PERFORMANCE OF SMALL AND MEDIUM ENTERPRISES IN GHANA. MA/MSc, Lámfalussy Sándor Közgazdaságtudományi Kar (volt Közgazdaságtudományi Kar).

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Absztrakt (kivonat)

Poor financial decision-making is widely considered the leading cause of small business failure. SMEs frequently experience slow growth, low sales, and early closure; often within two years of starting. Even though existing research points to limited credit access, inadequate research and development capacity, poor strategy, and inadequate management as key causes of small and medium enterprises’ failure, comparatively, financial literacy has received little attention. The study examines how financial literacy influences the success, performance, and survival of SMEs in Ghana. It evaluates owners' financial literacy levels, explores how financial literacy shapes business performance, assesses the financial management practices employed by business owners, and recommends supportive policies for entrepreneurs. Using a quantitative, positivist approach, the study draws on secondary data from peer-reviewed publications (2019–2025), analysing findings through regression analysis to establish empirical relationships between financial literacy and SME outcomes. The findings reveal that SME owners generally demonstrate high financial literacy level; yet financial knowledge alone does not reliably translate into better performance but identifying the gap between financial knowledge and putting into practice. Financial literacy's influence on SME performance is real but uneven. Financial awareness and financial attitude show significant positive effects, while financial knowledge and financial behaviour do not reach statistical significance. Financial attitude emerges as the strongest predictor: a goal-oriented mindset, willingness to take calculated risks, and long-term financial planning drive strategic decisions more powerfully than financial knowledge alone. Similarly, financial practices like budgeting and record keeping though present, they show no guaranteed link to improved performance. The core insight is that what matters most is not how much a business owner knows, but how they think and apply that knowledge. Mindset and contextual awareness outweigh theory. Financial literacy's impact on SME performance is selective; its effectiveness depends on how deeply it is internalised and acted upon.

Magyar cím

A PÉNZÜGYI KULTÚRA HATÁSÁNAK VIZSGÁLATA A KIS- ÉS KÖZÉPVÁLLALKOZÁSOK TELJESÍTMÉNYÉRE GHÁNÁBAN

Angol cím

ASSESSING THE IMPACT FINANCIAL LITERACY ON THE PERFORMANCE OF SMALL AND MEDIUM ENTERPRISES IN GHANA

Intézmény

Soproni Egyetem

Kar

Lámfalussy Sándor Közgazdaságtudományi Kar (volt Közgazdaságtudományi Kar)

Tanszékcsoport/intézet

LKK - Közgazdasági és Nemzetközi Kapcsolatok Intézet

Szak

LKK - Nemzetközi gazdaság és gazdálkodás mesterszak (MA)

Témavezető(k)

Helyi kari azonosító

LKK-A-2026-78

Mű típusa:	Diplomadolgozat (MA/MSc)
Felhasználói azonosító szám (ID):	Mr. Seth Twene
Dátum:	21 Júl 2026 13:39
Utolsó módosítás:	21 Júl 2026 13:39
URI:	http://diploma.uni-sopron.hu/id/eprint/16670

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