Survival techniques of SMEs in Zimbabwe : An analysis of Mbare Siyaso Harare

Author

Rutendo Mutemaringa L

Title

Survival techniques of SMEs in Zimbabwe : An analysis of Mbare Siyaso Harare

Abstract

Small and medium-sized businesses (SMEs) are vital to the global economy because they foster innovation, job creation, and economic expansion. SMEs, however, frequently confront particular difficulties in surviving and growing, particularly when confronted with fierce competition, shifting market conditions, and little resources. The purpose of this study is to look into the essential survival strategies used by SMEs to get beyond these obstacles and keep their competitiveness. In order to acquire a thorough grasp of the topic, the study uses a mixed method approach with qualitative interview data. SMEs owners and managers at Mbare Siyaso Harare are included in the research sample, providing a variety of viewpoints on the survival tactics used. The study's conclusions draw attention to a number of crucial survival strategies, such as creative product or service offers, efficient resource management, and solid client relationships. The study also shows how government assistance, financial availability, and an entrepreneurial mindset might improve the chances of SMEs surviving and expanding. For academic researchers, business owners, and legislators who are interested in the long-term viability and prosperity of the SME sector, this study offers insightful information. The results of this study can be used to guide the creation of focused support programs, educational initiatives, and tactical interventions that will help SMEs grow and add to the nation's overall economic prosperity.

Date

June 2024

Publisher

BUSE

Keywords

Survival

SME's

Zimbabwe

Supervisor

N/A