Savings can either be individual group or business savings Author 2019 Savings

Savings can either be individual group or business

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savings account that the owner of the money prefers. Savings can either be individual, group or business savings, Author (2019). Savings mobilization services therefore refers to the process by which MFIs or other financial institutions enables their customers and the poor households to save money in their respective financial institutions by allowing them to open savings deposit accounts, Author (2019). c) Training Services on Managerial Skills Managerial skills are the skills that are required for planning, organizing, regulating, controlling, coordinating and staffing that are required for the smooth running of the business. These skills are also important particularly in decision by business managers or business owners since they are faced with complex problems in the process of managing their businesses as they will have to select the best alternative from many alternatives. Training services on managerial skills is therefore a process of imparting managerial skills to agribusiness SMEs owners in order to increase the efficiency of running their businesses, Author (2019). 2.4 Empirical Literature Review 2.4.1 Access to Micro-Credit Services and growth of SMEs 12
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Access to credit or micro financing is defined as giving small amounts of money in form of loans(microloans) to small scale borrowers who in one way or another lacks collateral or security, employment or/and a verifiable credit history. Mainly, microcredit is purposed for poverty eradication and empowerment. An important factor that is considered to lead to improved growth, development and general performance of SMEs is access to credit. Credit results in increased income and employment thereby eradicating poverty. Through access to credit poor people are able to undertake investments and overcome their liquidity constraints. Improvement of farm technology, for example, leads to increased agricultural production (Hiedhues, 1995). The key end product of microfinance is to enrich the welfare of the poor through provision of micro-loans that the formal financial institutions do not offer (Navajas et al, 2000). For the poor just around the poverty line, inadequate access to credit finance may lead to adverse consequences for the SMEs and on the overall welfare of the poor (Diagne and Zeller, 2001). With access to credit SMEs can further increase their abilities on risk taking, improve strategies of copying with risk and enable smoothing of consumption overtime. Considering these arguments, it is clear that micro financing services improve the wellbeing and welfare of the poor. 2.4.2 Savings Mobilizations Services Saving is not only important to private persons but it is also equally important for success and growth of any business. While the business is making profit, the business owner should explore starting a savings plan which can provide relief during tough times as well as for funding investments. A study by Zeller (1995) shows that for purposes of smoothing household consumption, liquid savings are better as compared to other savings techniques. Savings can be withdrawn and used in times of emergency as well as to cover healthcare. The growth of the
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