{"title":"Towards Creation of Sustainable Enclaves for Small and Medium-Size Enterprises in Kumasi, Ghana","authors":"Paul Amoateng, Patrick B. Cobbinah, Kwasi Ofori-Kumah","volume":85,"journal":"International Journal of Economics and Management Engineering","pagesStart":323,"pagesEnd":332,"ISSN":"1307-6892","URL":"https:\/\/publications.waset.org\/pdf\/9997577","abstract":"
Although the importance of small and medium-size enterprises (SMEs) to local development is globally recognized, less attention is given to their design, development and promotion particularly in developing countries. The main focus of this paper is to examine the process of designing, developing and promoting SMEs in developing countries. Results of a study conducted in a SMEs’ enclave in Kumasi (Ghana) are presented and discussed. Results show that although SMEs in developing countries remain a major source of livelihood for many individuals, their potential contribution to local development can be enhanced and sustained through the creation of common geographical enclaves for related SMEs. Findings indicated that the concentration of SMEs involved in wood processing in one location in Kumasi has reduced the cost of production (e.g., transportation), and resulted in marginal increase in sales for many SMEs, despite the widespread challenges of lack of access to credit and low promotion of products.<\/p>\r\n","references":"[1]\tWorld Bank, (2010). Scaling up SME Access to Financial Services in the Developing World. In: Report of the G20 Seoul Summit, October 2010.\r\n[2]\tG. K. Anane, P. B. Cobbinah & J. B. Manu, Sustainability of Small and Medium \tScale Enterprises in Rural Ghana: The Role of Microfinance Institutions, Asian Economic and \tFinancial Review, 3(8), 1003-1017, 2013.\r\n[3]\tM. N. Hussain, Linkages between SMEs and Large Industries for Increased Markets and Trade: An African Perspective. Economic Research Papers No 53, Abidjan: The \tAfrica Development Bank, 2000.\r\n[4]\tA. T. Ojo, Partnership and Strategic Alliance Effective SME Development, Small and \tMedium Enterprises Development and SMIEIS: Effective Implementation Strategies. \tLagos: CIBN Press Ltd, 2003.\r\n[5]\tGhana Statistical Service, The 2010 Population and Housing Census: Summary Report of Final Results. Accra: Sakoa Press Limited, 2012.\r\n[6]\tM. M. Musamali & D. K. Tarus, Does Firm Profile Influence Financial Access among \tSmall and Medium Enterprises in Kenya? Asian Economic and Financial Review, 3(6), \t714-723, 2013. \r\n[7]\tM. Alter Chen, Rethinking the Informal Economy: Linkages with the Formal Economy and the Formal Regulatory Environment. E.A. UNU-WIDER. Helsinki, Finland: 1-33, 2005.\r\n[8]\tS. Afrane & G. Ahiable, The Informal Economy and Microfinance in Kumasi, In: K. K. Adarkwa (Ed.), Future of the Tree: Towards Growth and Development of Kumasi. Kumasi: KNUST Printing Press, 2011.\r\n[9]\tJ. K. Nkuah, J. P. Tanyeh & K. Gaeten, Financing Small and Medium Enterprises \t(SMES) in Ghana: Challenges and Determinants in Accessing Bank Credit, \tInternational Journal of Research in Social Sciences, 2(3), 12-25, 2013. \r\n[10]\tT. Gibson & H. J. van der Vaart, Defining SMEs: A Less Imperfect Way of Defining Small and Medium Enterprises in Developing Countries, Brookings Global Economy and Development, 2008. http:\/\/www.brookings.edu\/~\/media\/research\/files\/papers\/2008\/9\/development%20gibson\/09_development_gibson.pdf (Accessed 14th December, 2013).\r\n[11]\tA.W. Taylor & R.G. Adair, Evolution of Quality Awards and Self-Assessment \tPractices in Europe: A Case for Considering Organization Size, Total Quality \tManagement, 5(4), 1994. \r\n[12]\tGovernment of Kenya, Sessional Paper No. 2 of 2005 on Development of Micro and Small Enterprises for Wealth and Employment Creation for Poverty Reduction. Government Printers, Nairobi, 2005. \r\n[13]\tJ. L. Camilleri, Micro and Small Enterprises and Microfinance in Africa, Birritu, Quarterly Journal of the National Bank of Ethiopia, January, 2006.\r\n[14]\tP. Amoateng, P.B. Cobbinah & K. Owusu-Adade, Managing Physical Development in the Peri-Urban Areas of Kumasi, Ghana: A case of Abuakwa, Journal of Urban and Environmental Engineering, 7(1), 96-109, 2013.\r\n[15]\tP. B. Cobbinah & C. Amoako, Urban Sprawl and Loss of Peri-Urban Land in Kumasi, Ghana, International Journal of Social and Human Sciences, 6(2012), 338-397, 2012.\r\n[16]\tC. Amoako & P. B. Cobbinah, Slum Improvement in the Kumasi Metropolis, Ghana \u2013 Review of Approaches and Results, Journal of Sustainable Development in Africa, 13 (8), 150-170, 2011.\r\n[17]\tJ. D. Quartey, Chainsaw Milling in Ghana: Assessing Its Economic Impact, In: Chainsaw milling: Supplier to Local Markets. ETFRN News 52, 159-165, December, 2010.\r\n[18]\t Kumasi Metropolitan Assembly, (KMA), Development Plan for Kumasi Metropolitan Area (2006-2009). KMA, 2006.\r\n[19]\tKumasi Town and Country Planning Department. 2008.\r\n[20]\tAdapted from KMA Unit, SWV. 2012.\r\n","publisher":"World Academy of Science, Engineering and Technology","index":"Open Science Index 85, 2014"}