The Effect of Credit Acccesibility on The Performance of New Business Ventures
| dc.contributor.author | Catherine Kagere | |
| dc.date.accessioned | 2023-09-19T15:26:15Z | |
| dc.date.available | 2023-09-19T15:26:15Z | |
| dc.date.issued | 2023-09-12 | |
| dc.description | This is a dissertation. | |
| dc.description.abstract | This study carefully examined how easy it is for new businesses in Mukono District to get loans and how this impacts their financial performance. The study had three main goals: first, to understand why these businesses can access loans; second, to see how getting loans affects their financial success; and third, to identify the problems they face when trying to get loans and suggest solutions. The study collected information from 50 people who are either business owners or employees in new businesses. These individuals were deliberately chosen to provide information. They completed well-structured questionnaires. The gathered information was closely analyzed to understand the patterns of loan access and its effects. The findings of the study showed that new businesses are eager to get loans to grow and increase their earnings. They believe that obtaining loans will help them expand and improve. These businesses have various reasons for seeking loans, including the need for more money to grow, insufficient funds from regular sources, borrowing money in groups, family responsibilities, and unclear borrowing rules. The study also discovered that when these businesses can access loans, it usually helps them repay the loans and keep their businesses running. However, it's not always smooth sailing. Some businesses use the loans to grow quickly, while others struggle to pay back the high borrowing costs, which can lead to financial problems. Some even borrow too much and have difficulty managing all the debts. The study highlighted challenges that come with borrowing. These include having a significant amount of debt, managing multiple loans at the same time, a higher risk of repayment difficulties due to many lenders, and ending up with too much debt. These challenges are often worsened by a lack of understanding about borrowing, limited education, and insufficient knowledge about financial services. In conclusion, the study emphasized that loans have a major impact on new businesses in Mukono District. It's evident that loans are crucial for these new businesses. The study suggests that efforts should be made to support these businesses in succeeding. To prevent issues related to excessive borrowing, banks and financial institutions should ensure that everyone involved understands the loans. Lastly, while the study was comprehensive, there is still more to learn about loans and their effects on new businesses. This calls for further research to explore these areas in greater detail. | |
| dc.identifier.uri | https://hdl.handle.net/20.500.12311/1054 | |
| dc.language.iso | en_US | |
| dc.publisher | Uganda Christian University | |
| dc.title | The Effect of Credit Acccesibility on The Performance of New Business Ventures | |
| dc.type | Dissertation |