Sources of financing in companies of the tourism sector of the municipality of León

Abstract

In Nicaragua, SMEs have limited access to financing that allows them to grow and become large companies (Urcuyo, 2012). The objective of this article is to do a research about the sources of financing used by the accommodation tourism sector, tour operators and travel agencies in the municipality of León. The type of research is with a quantitative approach and descriptive scope, only the situation of the study variable is described through numerical elements. Also, the study is non-experimental and cross-sectional. The study population was made up of 46 accommodation companies, 7 travel agencies and 7 tour operators. For the selection of the sample, a non-probabilistic convenience sampling was carried out in which the companies that were operating and willing to participate were selected, obtaining a sample of 11 tourist companies. The main results show that 45.5% of the companies are micro, 45.5% are small, and 9.1% are medium-sized. Of these companies, only 18.2% have used financing in the last three years; the rest of the companies (81.8%) that have not used financing said that they did not need it (9.1%), applied but did not accept the conditions (9.1%), applied but the loan was rejected (9.1%) and had not applied (54.5%). Regarding the type of financing used, 66.7% were financed with their own resources, 20% with financing from banks and 13.3% with loans from family or friends. Of the businessmen who applied for credit, 50% used it to purchase machinery, equipment and tools and the other 50% to remodel the workplace, all the businessmen who applied for credit agreed that the process was quick.