The Impact of Financial Access on Business Success in the Gambia
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| Format: | Recurso digital |
| Sprache: | Altenglisch |
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2025
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| author | Ishaya Umaru Tanimu, PhD Lum Comfort Nche, PhD Abubaccarr Kanagie, BSc., MBA., MSc |
| author_facet | Ishaya Umaru Tanimu, PhD Lum Comfort Nche, PhD Abubaccarr Kanagie, BSc., MBA., MSc |
| contents | <p>Access to finance is widely recognized as a key determinant of business success, particularly among youth and women entrepreneurs in developing economies. This study investigates the impact of financial access on the success of startups in The Gambia between 2021 and 2025. Using a combination of quantitative data from 79 respondents, the study examines sources of startup funding, the proportion of funding received, and the barriers limiting access to finance. Findings reveal that over half of the respondents (56.3%) did not receive any financial support before starting their businesses, with family and self-funding emerging as the most common sources among those who did access finance. Key factors limiting financial access include high interest rates, collateral requirements, low turnover, lack of business plans, poor record-keeping, and limited access to financial institutions. The study concludes that inadequate access to finance significantly constrains business startups and growth for youth and women in The Gambia. Recommendations include the establishment of targeted financing programs, capacity-building initiatives, and policy reforms to improve the financial inclusion of entrepreneurs.</p> |
| format | Recurso digital |
| id | zenodo_https___doi_org_10_5281_zenodo_17876125 |
| institution | Zenodo |
| language | ang |
| publishDate | 2025 |
| publisher | Zenodo |
| record_format | zenodo |
| spellingShingle | The Impact of Financial Access on Business Success in the Gambia Ishaya Umaru Tanimu, PhD Lum Comfort Nche, PhD Abubaccarr Kanagie, BSc., MBA., MSc Access to finance, Entrepreneurship, Youth and women, Startups, Financial inclusion, The Gambia <p>Access to finance is widely recognized as a key determinant of business success, particularly among youth and women entrepreneurs in developing economies. This study investigates the impact of financial access on the success of startups in The Gambia between 2021 and 2025. Using a combination of quantitative data from 79 respondents, the study examines sources of startup funding, the proportion of funding received, and the barriers limiting access to finance. Findings reveal that over half of the respondents (56.3%) did not receive any financial support before starting their businesses, with family and self-funding emerging as the most common sources among those who did access finance. Key factors limiting financial access include high interest rates, collateral requirements, low turnover, lack of business plans, poor record-keeping, and limited access to financial institutions. The study concludes that inadequate access to finance significantly constrains business startups and growth for youth and women in The Gambia. Recommendations include the establishment of targeted financing programs, capacity-building initiatives, and policy reforms to improve the financial inclusion of entrepreneurs.</p> |
| title | The Impact of Financial Access on Business Success in the Gambia |
| topic | Access to finance, Entrepreneurship, Youth and women, Startups, Financial inclusion, The Gambia |
| url | https://doi.org/10.5281/zenodo.17876125 |