Small-scale individual entrepreneurs (SIEs) and the usage of mobile money (M-money) and mobile commerce (M-commerce) in facilitating business growth in Ghana

Small-Scale and Individual Entrepreneurs (SIEs) play a key role in economic growth of developing countries. The principal objective of this study is to investigate M-money and M-commerce contribution to business growth in Ghana. A cross-sectional survey is used to collect the necessary data and a total of 480 SIEs respondents participated in the study. The data is collected from three different locations in the capital city Accra where the activities of SIEs are predominate (Lapaz=230, Kaneshie=150, and Kasoa= 170). The researchers used Stata in analyzing the quantitative data. The findings reveal that M-money and M-commerce facilitate the growth of business among SIEs. However, few people reported of savings (3.5%) and make merchandise payments (4.8%), due to perceived risk issues. The study used cross-sectional survey design and convenience sampling which makes it difficult to generalize the findings.