Extensive attention has been given to the role small businesses play to facilitate global economic development in
recent years Verheaul and Thunrik (2000). Every day, around the globe hundreds of thousands of men and
women start new small businesses and these entrepreneurial activities make major contributions to worldwide
economic growth. Many nations have perceived the role SMEs play as the engine of growth to the development
of their countries and Ghana is no exception. Many governments in recent years have turned their attention to
selectively targeted policies for growth. In Ghana, SMEs constitute the vast majority of firms and generate
income and have a substantial share of both overall employment and output which directly affect poverty
reduction.