The literature on access to finance has confirmed a positive relationship between access to finance and firm growth. Yet the boundary conditions for such linkage are less examined in the context of developing economies. This study draws on resource-based view to introduce financial literacy as a moderator of the relationship between access to finance and firm growth. This theoretically derived research model is empirically tested using survey data from 201 small and medium-sized enterprises in Ghana. Our empirical findings suggest that financial literacy positively enhances the access to finance-firm growth relationship.

An ability to act upon an entrepreneurial opportunity is a major driver of new venture success. However, scholarly knowledge is limited on how and when entrepreneur alertness to entrepreneurial opportunities drives new venture success. This article addresses this gap arguing that variations in new venture performance are a function of levels of entrepreneurial alertness and networking capabilities. Using primary data gathered from 203 new ventures operating in a sub-Saharan African economy, Ghana, we find that increases in the levels of entrepreneurial alertness are related to increases in new venture performance. Additionally, we find that, under conditions of increased use of social and business networking capabilities, the potency of entrepreneurial alertness as a driver of new venture success is amplified. Theoretical, managerial and policy implications of these findings are discussed.