Factores financieros que inciden el crecimiento de las pymes de servicios de la ciudad de Cuenca 2020-2023

Abstract

It is essential for the successful performance of small and medium-sized enterprises (SMEs) that the barriers they face in society be eliminated. Some of these obstacles include limited access to financing, high financing costs, and inadequate internal and external financial management. Additionally, without access to information, technology and appropriate public policies, they are unable to compete in the business sector. Based on the above, this study aims to determine the financial factors that affected the growth of SMEs in the service sector in the city of Cuenca during the period 2020-2023. For this purpose, a quantitative methodology with a descriptive and correlational design was used. The findings reveal a clear relationship between interest coverage and growth, suggesting that larger companies that manage their financial affairs in an organized manner tend to perform better. The results provide a basis for SMEs to formulate financial strategies that foster their growth in the service industry.