Mobile Banking And Revenue Mobilisation Of Small And Medium-Sized Businesses (Smbs) In The New Juaben South Municipality

Abstract

The main objective of this research is to assess mobile banking and its role in enhancing revenue mobilisation of small and medium-sized businesses in the New Juaben South Municipality. The study employed quantitative approach of collecting data where questionnaires were used as the main research instruments. A sample of one hundred and eighty (180) respondents including owners/managers was considered by the study. The convenient sampling technique was used to sample the owners/managers of selected small and medium-sized businesses in the municipality. The quantitative data obtained was analysed using the Statistical Package for Social Science. The main findings of the study showed that mobile banking contributes positively and significantly to revenue mobilization since small and medium-sized businesses can make proper financial projections based on data and proper records of payments of goods and services. It was further revealed that unstable network, high costs of banking transactions, taxes on mobile money transactions are the main challenges adversely affecting the adoption of mobile banking. The study recommends that management of telecom firms, banking institutions and government should collaborate to educate owners and managers of small and medium-sized businesses about security steps and policies that exist to minimize mobile money fraud. Again, government should collaborate with telecommunication firms and National Communication Authority to improve the internet connectivity to help improve mobile money transactions among small and medium-sized businesses and customers.