Kelley Tambe | University of Venda (original) (raw)
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It has been widely acknowledged that Small, Medium and Micro enterprises (SMMEs) possess certain ... more It has been widely acknowledged that Small, Medium and Micro enterprises (SMMEs) possess certain attributes akin to entrepreneurship that make them indispensable tools for economic growth and development. Economies with advanced growth have SMMEs as a causative crucial factor. These small businesses however, face a variety of challenges especially at their start-up and growth phases. Two main challenges were focused on – difficulty in obtaining finance and government support services which can both be solved by the government. This study aimed at bridging the gap between effective implementation of government services and SMME failure. It focused on how an effective implementation of government services and funding can promote SMME growth and development. It also looked at how a conducive regulatory environment will enable SMMEs to thrive. Connection was also made to government bureaucracy and corruption in relation to the legal and regulatory environment and how it hinders SMMEs growth and development. Data was collected with the use of questionnaires which were distributed to 100 SMMEs in Thohoyandou, South Africa. The Statistical Package for Social Sciences was used to analyse the data gathered. Concerning, the effectiveness of these government institutions toward the improvement of the SMMEs sector. It was discovered that although government has put in place several schemes and initiatives, these small businesses still fail. This was attributed to the fact that these small businesses were hardly aware of the institutions put in place to aid them in matters of financing and training as a higher percentage of them still requested government funding and assistance. Conclusions and recommendations were also made on actions that will ensure that these government support services are effectively rendered toward SMME growth and development as well as how reforms in the law and regulation will work towards less failure and better performing SMMEs.
Keywords: SMMEs; Government support services; bureaucracy; Entrepreneurship; Growth and development; Thohoyandou; South Africa.
It has been widely acknowledged that Small, Medium and Micro enterprises (SMMEs) possess certain ... more It has been widely acknowledged that Small, Medium and Micro enterprises (SMMEs) possess certain attributes akin to entrepreneurship that make them indispensable tools for economic growth and development. Economies with advanced growth have SMMEs as a causative crucial factor. These small businesses however, face a variety of challenges especially at their start-up and growth phases. Two main challenges were focused on – difficulty in obtaining finance and government support services which can both be solved by the government. This study aimed at bridging the gap between effective implementation of government services and SMME failure. It focused on how an effective implementation of government services and funding can promote SMME growth and development. It also looked at how a conducive regulatory environment will enable SMMEs to thrive. Connection was also made to government bureaucracy and corruption in relation to the legal and regulatory environment and how it hinders SMMEs growth and development. Data was collected with the use of questionnaires which were distributed to 100 SMMEs in Thohoyandou, South Africa. The Statistical Package for Social Sciences was used to analyse the data gathered. Concerning, the effectiveness of these government institutions toward the improvement of the SMMEs sector. It was discovered that although government has put in place several schemes and initiatives, these small businesses still fail. This was attributed to the fact that these small businesses were hardly aware of the institutions put in place to aid them in matters of financing and training as a higher percentage of them still requested government funding and assistance. Conclusions and recommendations were also made on actions that will ensure that these government support services are effectively rendered toward SMME growth and development as well as how reforms in the law and regulation will work towards less failure and better performing SMMEs.
Keywords: SMMEs; Government support services; bureaucracy; Entrepreneurship; Growth and development; Thohoyandou; South Africa.