Implications of Monitoring and Evaluation Systems for SMEs in some Selected Metropolis in Ghana

Abstract

The purpose of this research was to examine how monitoring and evaluation systems affect small and medium-sized businesses in selected Ghanaian metropolises. The research design used was explanatory. The population for this study comprised owner-managers of SMEs in Ghana captured in the GEA and the AGI databases. From these two sources, a sampling frame was created for those in the selected metropolis. This gave a total population size of 1,189. For this frame, a sample of 423 SMEs was selected comprising SMEs from the Sunyani, Accra, Kumasi, Cape Coast, and Tamale metropolitan areas. The sample size for the study was 423 SMEs. The primary data collection tool was a self-administered questionnaire. Data was collected, cleaned, and coded before being entered into statistical software programs like SPSS and Smart-PLS. For the study's key findings, it was noted that the SMEs that took part in the study had monitoring and evaluation practices in place. The third and fourth objectives showed that monitoring and evaluation systems had a significant effect on both business resilience and business sustainability, respectively. It was discovered that monitoring and evaluation systems had a large and favourable effect on business growth and the digitalisation business respectively, for objectives 5 and 6. The study recommended that managers of SMEs within the selected area improve upon their monitoring and evaluation systems. This will increase the effect it will have on their resilience, growth, sustainability and digitalisation.