Financing problems of small and medium sized enterprises: The case of Côte D'ivoire

This study, was conducted to identify the difficulties that prevent Small and Medium Sized Enterprises (SMEs) operating in Côte d'Ivoire from accessing bank loans. One of the main problems of SMEs in Côte d'Ivoire is the financing issue. SMEs, which form the basis of Côte d'Ivoire's economy, have difficulty in obtaining bank loans to finance their activities. In order to reveal the reasons of these difficulties, surveys were conducted on 300 SMEs operating in Abidjan, the largest city of Côte d'Ivoire. Of the 300 questionnaires submitted, 225 responses were received and 75% was the rate of return of the questionnaire. According to the results obtained from the study; the main difficulties faced by SMEs in obtaining finances in Côte d'Ivoire are collateral problems and high interest rates. In other words, SMEs in Côte d'Ivoire have difficulty in meeting the requirements of banks in the credit process. In this context, the government should organize regular and free training seminars for SMEs' managers related to financing conditions, review SME support policies and establish SME agencies in all cities in the country in order to reduce these problems encountered by SMEs. Key Words: Small and Medium Sized Enterprises (SMEs), Banks, Financing Resources, Financing Problems, Côte d'Ivoire