ASSESSMENT OF FACTORS INFLUENCING THE FAILURE OF SMALL AND MEDIUM-SIZED ENTERPRISES (SMES) IN SIERRA LEONE /
ABDULRAHMAN SILLAH; SUPERVISOR: ASST. PROF. DR. HASAN RÜSTEMOĞLU
- x, 76 sheets: graphs, tables; 30 cm. 1 CD ROM
Thesis (MSc) - Cyprus International University. Institute of Graduate Studies and Research Economics Department
Includes References (sheets 54-69)
ABSTRACT There are many studies that have shown empirical findings that there is an increased rate of SME failure in Sierra Leone. The high rate of failure has made it difficult for rising SMEs to meaningfully contribute to job creation, economic growth, and more equal income distribution. The aim of this research is to look into factors that lead to the failure of SMEs. To this end, a quantitative research technique was an excellent choice for this inquiry because it will make it possible to conduct a more in-depth analysis of the results and supporting materials offered by similar studies. Data was collected through judgmental sampling with a structured questionnaire. A random sample of Sierra Leonean SMEs received an online survey with questions on market competitiveness, infrastructure, cultural attitudes, technological developments, and market access. A comprehensive descriptive data analysis was carried out to reach the conclusion of this research as to why SMEs fail in Sierra Leone. internal, personal, and external factors that influence the failure of SMEs in Sierra Leone was carried out to arrive at the finding and conclusions of this study. The research results prove that several factors like lack of motivation, managerial skills, and leadership, are contributing factors to the failure of small and medium-sized enterprises. External factors such as inadequate market system, poor infrastructure, Market Competition, and internal factors such as the lack of access to finance, and internal technological structure were discovered from the survey to have contributed to the failure of SMEs in Sierra Leone. These findings have been consistent with other findings from different studies. Therefore, SME individual, internal, and external factors may influence the failure of SMEs. Keywords: Civil war, Failure, influencing factors, Sierra Leone, Small-medium Enterprises,