An Investigation of the factors that affect the growth of SMEs in Zimbabwe. A case study of Mupedzanhamo market in Harare

Author

Jejenge, Felicity

Title

An Investigation of the factors that affect the growth of SMEs in Zimbabwe. A case study of Mupedzanhamo market in Harare

Abstract

This research is entitled An Investigation of factors that affect the growth of SMEs in Zimbabwe. A case study of Mupedzanhamo market in Harare explored the challenges faced by SMEs in Mupedzanhamo market which in turn affect their overall growth. Using a mixed-methods approach, the research investigated the challenges faced by SMEs and the strategies they adopt
to overcome those challenges. The quantitative component involved a survey questionnaire administered to 100 SME operators in Mupedzanhamo market, while the qualitative component included in-depth interviews with 10 business owners, market managers, and other
representatives. The findings indicated factors such as access to finance, years of experience in the sector, and technological limitations significantly impact SME growth. These results highlight the importance of addressing financial constraints, promoting industry expertise, and
facilitating technological adoption to foster SME growth and sustainability in the market. Additionally, the identification of challenges such as limited access to finance, infrastructure deficiencies, and regulatory hurdles sheds light on the barriers hindering SME development in the context of Mupedzanhamo Market.The research left recommendations for SMEs to invest in the development of human capital through vocational training, mentorship programs, and
entrepreneurship education. By enhancing the skills and knowledge of SME operators and employees, this can improve productivity, innovation, and adaptability, driving sustainable business growth. The policy makers were recommended to prioritize initiatives aimed at
improving SMEs' access to finance, including the expansion of microfinance institutions and the
development of government-backed loan schemes with favorable terms and conditions. Also, Investments in infrastructure development are essential to address the challenges posed by infrastructure deficiencies in Mupedzanhamo Market.

Date

June 2024

Publisher

BUSE

Keywords

Growth

SMEs

Mupedzanhamo market

Internal factors

Supervisor

External factors