Mobile Money Services And Growth Of Small And Medium Enterprises In Mukono Municipality

ABSTRACT

This study set to examine mobile money services and the Growth of Small and Medium Enterprises in Mukono Municipality. The study examined the influence of mobile payments on the growth of SMEs, established the influence of mobile finance on the growth of SMEs and determined the effect of mobile banking on the growth of SMEs in Mukono Municipality. A descriptive survey design using a sample of 108 respondents was adopted. Simple random sampling technique was used to select the respondents and data was collected using well designed structured questionnaires. Findings reveal that SMEs accept payments through mobile money from their clients and this is revealed by a mean value of 3.6204. It was found that the presence of mobile finance relieves SMEs from the problem of having to open a bank account as shown by mean value of 3.5630. The study also found that mobile banking enables SMEs to withdraw cash from their bank account and this is shown by the mean value of 3.6944. In addition, mobile money services have positive correlation to the growth of SMEs equal to 0.837 and the p-value is .000 which is less than 0.01.