Examining government financial services to small and medium-sized enterprises. A comparative analysis of Turkey and Ghana

By using an archival method of research, the study examines government financial supports to Small and Medium-sized Enterprises, through a comparative analysis between Turkey and Ghana. The study revealed that, there has been a regular positive trend in government financial supports to SMEs through the introduction of schemes, policies, and the creation of institutions responsible for SMEs growth and sustainability. It was also revealed that, besides other obstacles in the operations of KOSGEB and KGF, the major Challenges facing government financial support to SMEs in Turkey includes, high level of default and the failure of SMEs paying back loans in the stipulated time. There are also inefficiencies in SMEs activities due to lack of necessary technological processes and equipment needed. Additionally, in Ghana, the major problems for NBSSSI and MASLOC activities have been the informal structure of SMEs making it difficult to be assessed and located and also the lack of availability of data or records on SMEs activities. The study concluded that, even though there are similar problems and activities of SMEs in both countries, the approach adopted by government of both countries have been different with Turkey using the Credit Guarantee Fund to make credit accessibility less difficult for SMEs while as in Ghana SMEs have to provide guarantee or collateral services in order to access loans from these institutions.