Factors influencing credit accessibility for small and medium company in South Africa's construction industry : a literature review
- Balogun, O.A., Agumba, J.N., Ansary, N.
- Authors: Balogun, O.A. , Agumba, J.N. , Ansary, N.
- Date: 2015
- Subjects: Credit accessibility , Construction SMEs , South Africa
- Language: English
- Type: Conference proceedings
- Identifier: http://hdl.handle.net/10210/18040 , uj:15952 , Citation: Balogun, O.A., Agumba, J.N. & Ansary, N. 2015. Factors influencing credit accessibility for small and medium company in South Africa's construction industry : a literature review. Emuze, F.A. (Ed.) 4th Construction Management Conference : conference proceedings, 30 November - 01 December 2015, Port Elizabeth, South Africa. p. 264-273. ISBN: 9781920508616
- Description: Abstract: The study provides a comprehensive discussion on access to credit by the Small and Medium Enterprises (Construction SMEs) sector in South Africa. Access to credit has been noted as one of the major challenges impeding the survival and growth of the Construction SME sector in South Africa. The problems of access to finance, gaps and the reasons for the gaps in SME financing in South Africa are discussed. Gaps in SME financing were discussed in relation Stiglitz and Weiss (1981) credit rationing theory which advocates that agency problems and asymmetric information are the main reasons for the credit rationing behaviours of credit providers to Construction SMEs. This paper is a review to identify gaps in literature regarding the financing of Construction SMEs in South Africa. It is revealed that access to credit by Construction SMEs is still a major challenge impeding the realisation of the full potential of construction SMEs as engines of poverty alleviation, employment creation and economic growth at large. Therefore it is recommended that policy recommendations aimed at solving access to credit challenges must be empirically tested on a regular basis and progress in that regard must be constantly monitored and revised to reduce the problem
- Full Text: false
- Authors: Balogun, O.A. , Agumba, J.N. , Ansary, N.
- Date: 2015
- Subjects: Credit accessibility , Construction SMEs , South Africa
- Language: English
- Type: Conference proceedings
- Identifier: http://hdl.handle.net/10210/18040 , uj:15952 , Citation: Balogun, O.A., Agumba, J.N. & Ansary, N. 2015. Factors influencing credit accessibility for small and medium company in South Africa's construction industry : a literature review. Emuze, F.A. (Ed.) 4th Construction Management Conference : conference proceedings, 30 November - 01 December 2015, Port Elizabeth, South Africa. p. 264-273. ISBN: 9781920508616
- Description: Abstract: The study provides a comprehensive discussion on access to credit by the Small and Medium Enterprises (Construction SMEs) sector in South Africa. Access to credit has been noted as one of the major challenges impeding the survival and growth of the Construction SME sector in South Africa. The problems of access to finance, gaps and the reasons for the gaps in SME financing in South Africa are discussed. Gaps in SME financing were discussed in relation Stiglitz and Weiss (1981) credit rationing theory which advocates that agency problems and asymmetric information are the main reasons for the credit rationing behaviours of credit providers to Construction SMEs. This paper is a review to identify gaps in literature regarding the financing of Construction SMEs in South Africa. It is revealed that access to credit by Construction SMEs is still a major challenge impeding the realisation of the full potential of construction SMEs as engines of poverty alleviation, employment creation and economic growth at large. Therefore it is recommended that policy recommendations aimed at solving access to credit challenges must be empirically tested on a regular basis and progress in that regard must be constantly monitored and revised to reduce the problem
- Full Text: false
Investigating challenges and barriers facing construction of small, medium-sized enterprises in credit accessibility in the South African construction industry
- Balogun, O.A., Ansary, N., Agumba, J.N.
- Authors: Balogun, O.A. , Ansary, N. , Agumba, J.N.
- Date: 2016
- Subjects: Credit accessibility , Challenges , Construction SMEs
- Language: English
- Type: Conference proceedings
- Identifier: http://hdl.handle.net/10210/215071 , uj:21360 , Citation: Balogun, O.A., Ansary, N & Agumba, J.N. 2016. Investigating challenges and barriers facing construction of small, medium-sized enterprises in credit accessibility in the South African construction industry.
- Description: Abstract: This study sought to investigate the challenges and the barriers facing Small and Medium –Sized Enterprises in South Africa construction industry in their quest to access credit from financial institutions for their business purposes. This study utilizes a combination of primary data emanating from structure survey questionnaires supplemented by secondary source of data from an extensive literature review, in order to present insightful commentary about credit accessibility with Construction SMEs in South Africa. The study was a cross-sectional survey that used semi-structured questionnaire to collect data from the sample. 50 questionnaires were distributed to Construction Company in Gauteng Province in in Johannesburg through a convenience sampling technique. The key barriers were identified include informational barriers, lack of managerial ability within construction SMEs. Limitation of the study have been note and recommendations for developing innovative approaches to making credit accessibility to construction SMEs in South African been discussed. The study contributes to the body of knowledge in the area of financing construction firm in developing countries in general, and in South Africa in particular.
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- Authors: Balogun, O.A. , Ansary, N. , Agumba, J.N.
- Date: 2016
- Subjects: Credit accessibility , Challenges , Construction SMEs
- Language: English
- Type: Conference proceedings
- Identifier: http://hdl.handle.net/10210/215071 , uj:21360 , Citation: Balogun, O.A., Ansary, N & Agumba, J.N. 2016. Investigating challenges and barriers facing construction of small, medium-sized enterprises in credit accessibility in the South African construction industry.
- Description: Abstract: This study sought to investigate the challenges and the barriers facing Small and Medium –Sized Enterprises in South Africa construction industry in their quest to access credit from financial institutions for their business purposes. This study utilizes a combination of primary data emanating from structure survey questionnaires supplemented by secondary source of data from an extensive literature review, in order to present insightful commentary about credit accessibility with Construction SMEs in South Africa. The study was a cross-sectional survey that used semi-structured questionnaire to collect data from the sample. 50 questionnaires were distributed to Construction Company in Gauteng Province in in Johannesburg through a convenience sampling technique. The key barriers were identified include informational barriers, lack of managerial ability within construction SMEs. Limitation of the study have been note and recommendations for developing innovative approaches to making credit accessibility to construction SMEs in South African been discussed. The study contributes to the body of knowledge in the area of financing construction firm in developing countries in general, and in South Africa in particular.
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Thematic analysis of challenges faced by small and medium construction companies in accessing credit in South Africa
- Balogun, O.A., Agumba, J.N., Ansary, N.
- Authors: Balogun, O.A. , Agumba, J.N. , Ansary, N.
- Date: 2015
- Subjects: Small and medium construction company , South Africa , Credit facilities
- Language: English
- Type: Conference proceedings
- Identifier: http://hdl.handle.net/10210/17452 , uj:15885 , Citation: Balogun, A.O., Agumba, J.A. & Ansary, N. 2015. Thematic analysis of challenges faced by small and medium construction companies in accessing credit in South Africa. In Laryea, S. and Leiringer, R. (Eds) Procs 6th West Africa Built Environment Research (WABER) Conference, 10-12 August 2015, Accra, Ghana, p. 1103-1116. ISBN: 9780620662475.
- Description: Introduction: The objective of this paper is to thematically analyse and present the constraints of accessing credit by the construction small and medium construction enterprises (SMEs) in South Africa. A survey conducted by Financial Service Board (FSB 2012) reported, that 36.2 % of the construction SMEs in South Africa reported that their business closed down due to shortage of working capital. Despite the fact that some of the construction SMEs had operated for some years. Furthermore, the survey also established a meagre, i.e. 5.8 % of the construction SMEs applied for credit. This suggests that construction SMEs are stif! led in accessing bank credit. This gap poses a problem and triggers the need to conduct a review on the challenges of construction SMEs in South Africa in accessing credit. A literature review was administered. The review established the challenges affecting the construction SME accessing credit to be; creditworthiness of the borrower, collateral requirement by the banks, risk default and lack of business plan.
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- Authors: Balogun, O.A. , Agumba, J.N. , Ansary, N.
- Date: 2015
- Subjects: Small and medium construction company , South Africa , Credit facilities
- Language: English
- Type: Conference proceedings
- Identifier: http://hdl.handle.net/10210/17452 , uj:15885 , Citation: Balogun, A.O., Agumba, J.A. & Ansary, N. 2015. Thematic analysis of challenges faced by small and medium construction companies in accessing credit in South Africa. In Laryea, S. and Leiringer, R. (Eds) Procs 6th West Africa Built Environment Research (WABER) Conference, 10-12 August 2015, Accra, Ghana, p. 1103-1116. ISBN: 9780620662475.
- Description: Introduction: The objective of this paper is to thematically analyse and present the constraints of accessing credit by the construction small and medium construction enterprises (SMEs) in South Africa. A survey conducted by Financial Service Board (FSB 2012) reported, that 36.2 % of the construction SMEs in South Africa reported that their business closed down due to shortage of working capital. Despite the fact that some of the construction SMEs had operated for some years. Furthermore, the survey also established a meagre, i.e. 5.8 % of the construction SMEs applied for credit. This suggests that construction SMEs are stif! led in accessing bank credit. This gap poses a problem and triggers the need to conduct a review on the challenges of construction SMEs in South Africa in accessing credit. A literature review was administered. The review established the challenges affecting the construction SME accessing credit to be; creditworthiness of the borrower, collateral requirement by the banks, risk default and lack of business plan.
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Value-in-use sustainability factor as a driver for asset management of road transport infrastructure
- Okoro, Chioma S., Musonda, Innocent, Agumba, J.N.
- Authors: Okoro, Chioma S. , Musonda, Innocent , Agumba, J.N.
- Date: 2018
- Subjects: Maintenance , Management , Roads
- Language: English
- Type: Conference proceedings
- Identifier: http://hdl.handle.net/10210/278526 , uj:29891 , Citation: Okoro, C.S., Musonda, I. & Agumba, J.N. 2018. Value-in-use sustainability factor as a driver for asset management of road transport infrastructure.
- Description: Abstract: Infrastructure is critical in supporting economic security and societal wellbeing. A sound road network, for instance, is an essential part of any country’s socio-economic fabric. However, the development of sustainable road infrastructure has been largely driven by environmental requirements as well as economic necessity. The experiences and satisfaction of users and the consequent value ascribed to the usage of road infrastructure have not been accorded reasonable attention. The current study examines the concept of value attributable to road infrastructure through its usage. A review of related literature was conducted using articles from journals, conference proceedings and from databases including Google, Taylor and Francis, ASCE Library, and Science Direct. Synthesis was done using thematic analysis. The study found that value is attributable to the experience of users and this depends on the condition of roads. Hence, maintenance of roads is paramount to sustain value. A conceptual model for value-in-use sustainability of roads was developed. The study recommends that more attention should be given to the experience of users while making use of the roads, as opposed to the monetary value of the roads only. Moreover, consideration of users’ experience will invariably drive demand for travel and bring about increased monetary returns. Therefore, the study highlights the import of the value-in-use concept, and creates more awareness about the conditions that invariably contribute to this value and thus transport managers and policy makers need prioritise asset maintenance and management even during planning.
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Value-in-use sustainability factor as a driver for asset management of road transport infrastructure
- Authors: Okoro, Chioma S. , Musonda, Innocent , Agumba, J.N.
- Date: 2018
- Subjects: Maintenance , Management , Roads
- Language: English
- Type: Conference proceedings
- Identifier: http://hdl.handle.net/10210/278526 , uj:29891 , Citation: Okoro, C.S., Musonda, I. & Agumba, J.N. 2018. Value-in-use sustainability factor as a driver for asset management of road transport infrastructure.
- Description: Abstract: Infrastructure is critical in supporting economic security and societal wellbeing. A sound road network, for instance, is an essential part of any country’s socio-economic fabric. However, the development of sustainable road infrastructure has been largely driven by environmental requirements as well as economic necessity. The experiences and satisfaction of users and the consequent value ascribed to the usage of road infrastructure have not been accorded reasonable attention. The current study examines the concept of value attributable to road infrastructure through its usage. A review of related literature was conducted using articles from journals, conference proceedings and from databases including Google, Taylor and Francis, ASCE Library, and Science Direct. Synthesis was done using thematic analysis. The study found that value is attributable to the experience of users and this depends on the condition of roads. Hence, maintenance of roads is paramount to sustain value. A conceptual model for value-in-use sustainability of roads was developed. The study recommends that more attention should be given to the experience of users while making use of the roads, as opposed to the monetary value of the roads only. Moreover, consideration of users’ experience will invariably drive demand for travel and bring about increased monetary returns. Therefore, the study highlights the import of the value-in-use concept, and creates more awareness about the conditions that invariably contribute to this value and thus transport managers and policy makers need prioritise asset maintenance and management even during planning.
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