Does Usage of Financial Services influence the Growth of Women Owned Small and Medium Size Enterprises (SMEs) in Cameroon?

Abstract ―​

The promotion of small and medium size enterprises (SMEs) is increasingly considered as a priority amongst economic development goals, in both developed and emerging economies, with the utilization of financial products emerging as a possible means of promoting the growth of these SMEs. This paper examines the influence of the use of financial services on the growth of women owned SMEs in Cameroon. The study adopted a cross sectional research design and made use of primary source of data collected by use of questionnaires. Sampling in this research used stratified sampling technique and the sample size was determined using the Yamane method and a sample of 362 respondents was obtained. The method used in this research was the ordinary least square (OLS) analysis through IBM SPSS Statistical package, Version 22. It was established from the findings that the usage of financial services, precisely the use of loans and payments services by women owned enterprises positively and significantly influences their growth.