Source: Field work, 2017
Samples of extracts from respondents on the four emerged major themes
1. Funding availability and accessibility
“It is very difficult having access to adequate funding to expand my business. The situation is such that most
commercial financial institutions operates on regidity and unfavourable loan systems like high interest rate
discourages me from applying for loans and they are often reluctant to also lend money to new entrepreneurs .
What I hate to say is that some even demands some percentage of the loans from us as a condition. ”
(Entrepreneur engaged in used cars- interviewee 2 (2017)). This reinforces results of a survey on enterprise
financing by Aryeetey et al (1994) that only 14 percent credit advanced went to SMEs.
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