An Assessment of the Performance of Small and Medium Textile Enterprises in Ghana

Abstract

In the wake of unemployment and economic hardship in Ghana, the study sought to assess the financial, social and environmental performance of Small and Medium Textile Enterprises (SMTEs) as they are a major driver of employment generation and other opportunities in the textile sector in Ghana. The study is quantitative research. A multi-stage sampling procedure involving convenient, purposive and stratified sampling techniques was employed in this study. A sample size of 300 was drawn from the 80 SMTEs. The study established that Ghana’s small and medium textile enterprises have not performed exceptionally well generally over the past five years. However, the study observed a relatively good performance in terms of their financial performance. Similarly, the social and environmental performances of the textile enterprises have also been found to be good. To make the most of using advanced technologies to enhance their performances, SMTEs must follow market dynamics, pay more attention to customer interaction and establish interdependent relationships in the industry.