The accessing of finance by Small Medium Micro Enterprises in the Mafikeng / Karabo Khiba
AbstractThe research study investigates some of the problems or challenges faced by SMMEs inthe Mafikeng and Mmabatho area of the North West province. It strives to find out theextent to which these problems occur and the impact they have on these businesses. Theresearch focuses on a number of major problems considered to be hindering the growth ofSMMEs in this area, namely the lack of entrepreneurial management, financial skills,accessing finance and the role played by lack of financial and mentoring support on thesuccess or failure of SMMEs.Some of the significant findings of this study are that the majority of the businesses failbecause of lack of access to finance, lack of entrepreneurial skills and lack of mentoringsupport from the government. The government and banks should make it easier forSMMEs to access finance. The government should act as collateral for SMMEs to securefinance from commercial institutions. The government should involve the private sectorin training SMMEs to acquire entrepreneurial skills. This will help SMMEs to run theirbusinesses professionally and therefore become sustainable. This will impact positivelyto the economic growth, in terms of job creation to the entire province
Year of publication: |
2006
|
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Authors: | Khiba, Karabo |
Subject: | Small business | Management | Finance | South Africa | Mafikeng |
Saved in:
freely available
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