Key points are not available for this paper at this time.
Numerous governments worldwide acknowledge Small and Medium Enterprises (SMEs) ‘ crucial role in fostering economic growth and revitalizing economies. Despite this recognition, SME financing remains a significant challenge. Microfinance is a key instrument in bridging the financing gap within the SME sector. Hence, this study sought to evaluate microfinance’s perceived impact on SMEs’ growth and performance. Employing the descriptive survey method, the investigation was carried out in Poblacion 1, Mabini, Bohol, where eighty (80) respondents provided insights into their demographic and business profiles and their perceptions of microfinance. Data interpretation utilized frequency count, percentage, and weighted mean. Results indicated that most respondents were aged 41 and above, predominantly female, engaged in retail trading, operated their businesses for 1-5 years, and had an average monthly turnover of less than Php15,000. The overall weighted mean of perceived microfinance impact suggested agreement among respondents, implying a discernible but minimal influence on SME growth and performance. Additionally, it was inferred that microfinance met SMEs’ operational and development needs, enhancing entrepreneurial practices, business experience, training, and overall competitive advantage. Furthermore, microfinance provides individuals with new opportunities, enabling them to access and manage finances, thereby empowering them to take charge of their future. This study is poised to assist SMEs in stabilizing income, fostering prosperity, and offering support during crises, facilitating their resilience and recovery efforts. Keywords: Business management, small and medium enterprises, quantitative study, Mabini, Bohol
Cano et al. (Fri,) studied this question.