Government Covid-19 Stimulus Package, Smes' Awareness, Accessibility, and Challenges in Cape Coast

Abstract

Purpose: This is to analyze the level of knowledge of the government's COVID-19 stimulus package among SMEs in the Cape Coast Metropolitan area. Research methodology: Quantitative and descriptive approaches were used in the investigation. Purposive sampling was used to sample 234 SMEs; a structured questionnaire was used to gather data; descriptive and inferential statistics were used; and SPSS version 20 was used to enter, transform, and analyze the data. Results: The result indicates SMEs have a poor level of awareness. The SMEs have a low level of access, and it was also discovered that the SMEs confront numerous problems in obtaining packages, particularly when political affiliation is taken into account. Limitations: The study was small and focused on a single urban area. Since the pandemic is still with us and has a significant impact on commercial transactions, more research should be undertaken in a large study region. Contribution: The theory clearly shows why, for SMEs to develop and the sector to perform in support of any country's economy during a pandemic like COVID-19, the government, as the controller of money and other resources, needs to provide the necessary financial package, whether implicit or explicit, to oil a crumbling sector due to the pandemic.