¹Ishaya Umaru Tanimu, PhD, ²Lum Comfort Nche, PhD, ³Abubaccarr Kanagie, BSc., MBA., MSc

¹University of The Gambia

²Department of Management Sciences International University Banmenda, Cameroon

³Avenue de Miremont 46 1206 Geneva, Switzerland

DOI : https://doi.org/10.58806/ijsshmr.2025.v4i12n09

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ABSTRACT

Access to finance is widely recognized as a key determinant of business success, particularly among youth and women entrepreneurs in developing economies. This study investigates the impact of financial access on the success of startups in The Gambia between 2021 and 2025. Using a combination of quantitative data from 79 respondents, the study examines sources of startup funding, the proportion of funding received, and the barriers limiting access to finance. Findings reveal that over half of the respondents (56.3%) did not receive any financial support before starting their businesses, with family and self-funding emerging as the most common sources among those who did access finance. Key factors limiting financial access include high interest rates, collateral requirements, low turnover, lack of business plans, poor record-keeping, and limited access to financial institutions. The study concludes that inadequate access to finance significantly constrains business startups and growth for youth and women in The Gambia. Recommendations include the establishment of targeted financing programs, capacity-building initiatives, and policy reforms to improve the financial inclusion of entrepreneurs.

KEYWORDS:

Access to finance, Entrepreneurship, Youth and women, Startups, Financial inclusion, The Gambia

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VOlUME 04 ISSUE 12 December 2025