Plastic money impact on the performance of micro SMEs (MSMEs) in hardware industry: Survey of Bindura Hardware micro SMEs
- Author
- Madzeshe, Wendy
- Title
- Plastic money impact on the performance of micro SMEs (MSMEs) in hardware industry: Survey of Bindura Hardware micro SMEs
- Abstract
- The study investigated the impact of plastic money on the operational performance of small and medium enterprises (SMEs) in the hardware industry in Bindura Town, Zimbabwe. Historically, MSMEs have operated on a cash basis, resulting in limited usage of plastic money. However, plastic money offers numerous advantages, including increased customer satisfaction, trust, and customer retention, which can enhance organizational performance. The research aimed to determine the forms of plastic money used, the effect of plastic money on payment of bills and purchases, and the impact of plastic money on customer service among SMEs in hardware industry in Bindura Town. A target population sample size of 50 respondents (n=50) was used obtained by stratified sampling method. A response rate of 86% was achieved from achieved sample size of 43. Results showed that MSMEs in Bindura Town had adopted plastic money and were aware of its benefits. The study also found a significant relationship between plastic money and profitability. Based on these findings, the study concluded that plastic money has a positive influence on the growth and expansion of MSMEs in Bindura Town. The study recommends that MSME owners and management encourage customers to use plastic money and educate them on its importance.
- Date
- 2023
- Publisher
- BUSE
- Keywords
- Operational performance
- organizational performance
- Supervisor
- N/A
- Item sets
- Department of Accountancy