This study sought to explore the challenges that petty traders face in accessing financial credit from banks and financial institutions and the innovative measures they initiate to deal with these challenges. Using the convenient sampling technique, 200 petty traders from New Abirem in the Birim North District of the Eastern region were selected and interviewed. Results from descriptive analysis shows that the major reason why petty traders do not seek financial credit is lack of collateral. Lack of collateral was again mentioned by respondents as the major reason why they were denied credit. Majority of the respondents resort to joining susu groups/rotating savings and credit associations in dealing with the challenges they face in accessing financial credit from banks and financial institutions. This study provides an evidence of the significant importance of susu groups/rotating savings and credit associations in the business activities of petty traders in Ghana.
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