Entrepreneurs’ Perception of Banks’ Social Responsibility: A Haitian Case Study

Abstract

In developing countries, where there is limited public financial support for entrepreneurs, banks, among other financial institutions, should be the pillars in financing economic activity. To play this role, they need to enjoy good perception among entrepreneurs for several reasons, including the improvement of their market, respectability, and profitability. To achieve such objectives, banks adopt social responsibility strategies to influence public perception of banks’ behaviour. In Haiti, banks have invested in CSR and shown higher profitability and growth than the rest of the economy. In this context, how do entrepreneurs perceive Haitian banks’ social responsibility? To answer this question, we collect empirical data among entrepreneurs of all size. Among the main conclusions, we find that banks enjoy very bad perception among entrepreneurs, special concessions given by the Government and other international institutions to banks in Haiti are perceived as having not helped to increase the financial services for Haitian entrepreneurs.