Effectiveness Performance of Bank Credit on the Event Management Firms in Tamilnadu State

Abstract

This study investigates the effect of bank credit on the business performance of unorganized event management firms. The ability of small enterprises to acquire financing has always been seen as a serious challenge. The government must improve infrastructure and market access, while small businesses must create a business environment regarding regulations and how they are implemented to create opportunities for small entrepreneurs. The study covers 230 unorganized event organizers. The qualitative data were collected using a well-crafted questionnaire. The study results proved that bank credit has significantly influenced the business performance of event management firms. Moreover, bank credit has substantially influenced business performance in developing a capacity to conduct multiple events simultaneously, business growth, ROI, profitability, competitive advantage, the purchase of new equipment, and the adoption of recent technology. The study recommended that banks frame adequate policies to support small business firms access to bank credit without any hindrance. The bank credit substantially influenced the business performance of event management firms. Furthermore, bank credit has substantially influenced business performance in developing a capacity to conduct multiple events simultaneously, business growth, ROI, profitability, competitive advantage, the purchase of new equipment, and the adoption of recent technology.