The backbone of every economy is the private informal sector (SMEs) and most employment in Ghana largely focuses on small and medium–scale enterprises (SMEs). Hence, the contributions the sector makes to economic growth and development through job creation cannot be overemphasized. However, SMEs are almost entirely expelled from the formal financial sector in Ghana. They face difficulties in accessing financial opportunities, enterprise development skills; face unfavourable regulatory bottlenecks and inappropriate market structures and these therefore has poses serious restriction to their growth and development in the economy. More so, when microfinance is properly harness can make significant contributions to economic growth and development because it promotes higher investment leading to economic empowerment, which in turn promotes confidence, self esteem and build capacities, particularly for the vulnerable. In other words it creates access to productive capital for the poor and reduces poverty. This research was carried out to examine the financial accessibility and the roles it play to the SMEs sectors in the WA municipality in the Upper West Region of Ghana. The study objective was to examine the extent to which microfinance is accessible to SMEs and the roles it has played in the SME sectors and the impacts on poverty reduction in Ghana. The whole research covered one hundred and thirty (130) SMEs and ten (10) financial institutions. The needed data for the study were generated from both primary and secondary sources. The research tools used to generate the primary data include informal conversations, questionnaires, personal and key informant interviews. However secondary data were extracted from books, articles, journals, presentation papers and news publications. Mixed model research approach was used to analyze the data-qualitative and quantitative. For the quantitative, SPSS was use in making the analysis and the drawing of the tables and charts. Critical analyses were made for the qualitative aspect. The findings of the study revealed that financial accessibility plays imperative roles in the SMEs sector and poverty reduction because it improves SMEs performance, creates employment, promotes growth, expansion, improvement and development of businesses. It further enhances income and facilitates the affordability of some basic necessities of life such as; education, shelter, health, good nutrition, clothing, potable drinking water and other essential requirements of life like vehicles, motorcycles, bicycles, decent houses and marriage contractions. These have consequently improved the standard of living of many which is translated as poverty reduction, since capacities have been built; self esteems and confidence among the vulnerable in society have been established allowing participation in decision making. Accordingly, the research also came out with some major barriers to the rapid development of the SMEs sector as the poor access to both debt and equity financing, principally debt financing and most particularly credit access. This poor access is as a result of the criteria for selection to credit facilities, processes, procedures, requirements, and demands of unnecessary documents (business plans, utility bills etc), guarantors and collateral demands and the high cost of borrowing and rigidities interest rates. It also became clear that there is poor access to other support systems such as; training, workshops, personal advice, management and low level of technological skill and developments due to the fact that it is not available to most needed people. It also became evident that policies/rules/regulations frameworks are other constraints to SMEs growth in the municipality because of the high and inproportionate apportionment of premiums, long and bureaucratic processes and procedures and harassments from tax collectors. It was therefore noted that microfinance beneficiaries were the economically active poor engaged in all kinds of businesses, but majority were women because they are well-known for vulnerability, willingness and prompt repayment of loans and also use the financial support for the intended purposes. Therefore, it is generally suggested that government and policymakers interested in the private sector development especially SMEs to lead the wealth creation effort which will enable Ghana attain the middle income status by 2015 must critically look into these problems with particular attention to financial accessibility principally credit facilities, market structures both local and international, policies/rules/regulations, support systems and linkages of SMEs to other bigger firms with seriousness. Show Types Of StressThere are numerous people who deal with stress on a daily basis. But, not all of them deal with the same kind of stress. Stress can be categorized into various types. Amidst various other kinds of stress, it is hyperstress and hypostress that are the most prominent. Let us take a closer look at these two common types of stress and how you can deal with them. Hyperstress If you are struggling with hyperstress, chances are that you would respond to even the minutest of stressors in an exaggerated way. The problem also causes huge emotional outbreaks for every small reason or even for no reason at all. The reason for the same being that hyperstress builds up a lot of frustration and agitation in an individual. Which usually circumvents in the form of emotional outbreaks. How to deal with hyperstress? Hypostress Usually people who are in unchallenging jobs find themselves suffering from hypostress. Hypostress can lead to lack of inspiration, which may make an individual feel unenthusiastic and de-motivated. People dealing with this type of stress often find themselves juggling with restlessness. Whether you are suffering from hyperstress or hypostresss, make sure that you find a solution to either as stress in any form has adverse effects on your body. What does a person experience as stress increases?It can make us feel overwhelmed, fatigued, nervous, and sad. Stress can also cause changes in eating and sleeping habits, headaches, and weight gain. Over time, stress can even increase the risk of depression, anxiety, heart disease, and type-2 diabetes.
What is considered a major stressor?Death of a loved one. Divorce. Moving. Major illness or injury.
What influences susceptibility to negative stressors?The susceptibility to stress varies from person to person. Among the factors that influenced the susceptibility to stress are genetic vulnerability, coping style, type of personality and social support. Not all stress has negative effect.
Which of the following is an example of an environmental stressor?Environmental stressors are external stimuli that cause disharmony, irritation, annoyance, or disturbance to individuals. There are many examples including the weather, level of noise, crowdedness, and light exposure. A more specific example is exposure to different colors and the moods associated with those colors.
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