An analysis on the impact of micro finance institution in the growth and development of SMEs in Zimbabwe.
- Author
- Chikumbu, Andrew
- Title
- An analysis on the impact of micro finance institution in the growth and development of SMEs in Zimbabwe.
- Abstract
- This study aimed to analyse how microfinance affected Small and Medium-Sized Enterprises (SMEs) in Zimbabwe. Using the questionnaires and interview, information was gathered from 50 SMEs and 30 MFIs that were chosen at random. The questionnaire was sent through the email and the interview was contacted through the google class. The data presentations and analysis was carried out using graphs, pie charts and tables. To ensure reliability the researcher used SPSS version 20.The study findings showed that most SMEs had access to MFI Loans, only few of them were unable to obtain the entire amount they needed. The research study also showed that many SMEs that received MFI loans were successfully using the funds for commercial objectives, which accelerated the development and growth. The majority of SMEs said that MFI loans had a favorable impact on promoting their product quality and range, expanding their branch network, improving their cash flow, and growing their market share. The study suggests that before lending to SMEs, commercial banks and privately run MFIs should provide them with financial management training. Additionally, the government and local authorities (City council) should provide the SMEs with enough infrastructure, including permanent workstations, power, and additional restrooms.
- Date
- 2023
- Publisher
- BUSE
- Keywords
- Micro finance
- Small and medium enterprises
- Supervisor
- N/A
- Item sets
- Department of Accountancy