Entrepreneurial Finance for MSMEs Book Critique

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Entrepreneurial Finance for MSMEs Book Critique

This paper critiques the book Entrepreneurial Finance for MSMEs by Joshua Yindenaba. The book covers micro, small and medium-sized enterprises (MSMEs) and how they contribute to economic growth. Yindeneba focuses on developing countries, the development of MSMEs and their unique characteristics and challenges MSMEs face as they develop. This paper critiques the overall chapters, methodology, discussions/analysis and conclusions of this book. I think you will like this paper.

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ENTREPRENEURIAL FINANCE FOR MSMEs BOOK CRITIQUE 1

Entrepreneurial Finance for MSMEs Book Critique

Introduction

In the book Entrepreneurial Finance for MSMEs, the author focuces on micro, small and
medium-sized enterprises (MSMEs) and how they contribute to economic growth. It is written
by Joshua Yindenaba Abor who is a professor of Finance and a Dean at the University of Ghana
Business school. Yindenaba is also a researcher with the African Economic Research
Consortium. In this book, Yindeneba focuses on developing countries, covers the development
of MSMEs and their unique characteristics and challenges MSMEs face as they develop. By
going through the book, readers understand financial issues facing MSMEs.



Critique of the book

The book is structured into five main parts. Part I covers entrepreneurial setting. In part
II, financial environment and finance providers are covered. Financial performance and planning
is covered in part III while part IV is all about valuation. The last part covers financing choice
and harvesting. In the first chapters, Yindeneba covers the basic tenets of developing new
ventures, financing and economic environments inhabited by business owners. In these early
chapters, the focus is on venture capital, microfinance intervention, and public sector
interventions. In the later chapters, Yindeneba explains what financial planning and forecasting
involve. This book has interdisciplinary appeal and gives a timely consideration of MSMEs in
those economies that are growing (Yindenaba, 2017). All the five parts are effective in
illustrating the relationship between MSMEs and economic growth. Before every chapter, the
author highlights the learning objectives which is essential for readers to know what they should
expect from every chapter.

ENTREPRENEURIAL FINANCE FOR MSMEs BOOK CRITIQUE 2
To cover a problem in any study, there is need to have the methodology. Methodology
tends to answer the kind of methods a researcher uses to investigate the problem. Other areas
worth to investigate under methodology are whether the methods are qualitative or quantitative,
whether methods for collecting data are clear and justifiable and any weaknesses associated with
the used methodology (Dul & Hak, 2015). The challenge with the Entrepreneurial Finance for
MSMEs book is that there is no clear methodology for investigating the problem of concern. It
could be understood that the book comprehensively and clearly covers entrepreneurial finance
and contributes to people’s understanding of entrepreneurial finance based on the managerial
perspective. There are some equations and formulae for calculating various quantities in finance
which suggest that the methods are quantitative although this is not clear. Different methods can
be used to deal with a study problem. Methodology needs to articulate the reason certain
procedures or techniques have been used, something that Yindeneba fails to bring out in this
book (Dul & Hak, 2015).
Having looked about methodology, let us briefly focus on the discussion/analysis of this
book. Yindeneba gives a detailed and balanced discussion of the role of MSMEs in economic
growth in all the chapters. The discussion in all the chapters is clear and easy to understand. In
all the chapters, the book discusses the complexity of managerial finance and links it with
MSMEs in a way that facilitates the book's access to a wide readership. One of the strengths of
this book is that it's not limited to people who can read it, as both people from and outside the
finance sector can find this material essential for their fields. Failure in business is one the things
that are inevitable especially for small and start-up businesses. Its rare cases that entrepreneurs
attain success without committing errors that could lead to business failure during the start of
business (Dul & Hak, 2015). Moreover, more and more countries are emerging from the “Base



ENTREPRENEURIAL FINANCE FOR MSMEs BOOK CRITIQUE 3
of the Pyramid” meaning that many failures are things to expect. However, the content and
discussion in the book gives hope and guidance for future small businesses.
At the end of the chapter, Yindeneba gives the summary and conclusions. However, none
of these conclusions are supported by results. This could be attributed to the fact that Yindeneba
only focuses on the theory and does not conduct any study to support his arguments. The good
thing is that the implications of the book can be identified. For instance, we can easily identify
challenges MSMEs face during their developments as covered in the book and relate them to real
life. Problems such as the inability of business owners to effectively manage their businesses,
weak level and quality of regulation in developing countries and intense competitions are not just
theoretical problems, but problems facing today’s MSMEs (Dul & Hak, 2015). At the end of the
book, it could be better if Yindeneba gave the overall conclusion that summarizes the content of
the book. With the current organization of the book, readers have to refer to conclusions at the
end of every chapter to come up with conclusions that cuts across all the chapters. The
contribution of the book to the field of entrepreneurship is twofold. First, it offers ways of
dealing with problems facing entrepreneurs. Second, by evaluating economic and investment
decisions associated with businesses, the book offers ways managers of MSMEs may adopt to
add value to businesses through the application of managerial finance tools.

References

ENTREPRENEURIAL FINANCE FOR MSMEs BOOK CRITIQUE 4
Dul, J., & Hak, T. (2015). Case Study Methodology in Business Research. London: Routledge.
Yindenaba, J. (2017). Entrepreneurial Finance for MSMEs: A Managerial Approach for
Developing Markets. Accra: Springer Nature.

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