A case study of the perceptions of stakeholders on local government support for the development and promotion of small, medium and micro enterprises (SMMEs).
Mudau, Aluwani Desmond
Mudau, Aluwani Desmond
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Abstract
Improving knowledge of sustainable financial best practices is crucial for small, medium, and micro enterprises (SMMEs) that want to expand. Many face challenges securing funding due to not having the necessary financial records and lack of knowledge. While some entrepreneurs have embraced modern tools, many are still disadvantaged in terms of access to information and resources. This prompted the researcher to investigate the case study of the perceptions of stakeholders on local government support for the development and promotion of SMMEs in Thulamela Local Municipality, Limpopo province, and the extent of their contribution. The study adopted an interpretivism research philosophy and a qualitative approach to determine the role of SMMEs and the extent of their contribution to the economic development of Thulamela Local Municipality. The study focused on Thohoyandou which had ten (10) respondents and four (4) key national, provincial, and local government informants. A structured questionnaire was used as a data collection instrument. Fourteen (14) copies of the questionnaires were self-administered. Atlas.ti was used to analyse the data by utilizing the Statistical Analysis Software. Empirical findings revealed that SMMEs face numerous challenges, including difficulty obtaining finance and government support services, both of which can be addressed by the government. The study concluded that SMMEs, particularly those in the food and restaurant industry, play an important role in the economic development of Thulamela Local Municipality. Concerning the efficacy of these government institutions in improving the SMME sector. It was discovered that, despite the government's numerous schemes and initiatives, these small businesses continue to fail. This was attributed to the fact that these small businesses were unaware of the institutions set up to help them with financing and training, as a higher percentage of them still sought government funding and assistance. Conclusions and recommendations on actions that will ensure that these government support services are effectively rendered toward SMME’s growth and development, as well as how reforms in the law and regulation will work toward less failure and better-performing SMMEs, were also made.
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Submitted to the Faculty of Economics and Finance for the degree. Master's Dissertation in Economics in the Faculty of Economics and Finance at the Tshwane University of Technology
Date
2024-07-24
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Tshwane University of Technology
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Keywords
SMMEs, Thulamela Local Municipality, Qualitative approach, Perceptions, Stakeholders, Development, Support