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A STUDY TO FIND OUT THE FACTORS AFFECTING THE ECONOMIC GROWTH OF SMEs IN RETAIL SECTOR . ( CASE STUDY OF MBALA DISTRICT ) ( Conference ID : CFP / 583 / 2018 )
| Content Provider | Semantic Scholar |
|---|---|
| Author | Kelvin, Mwewa Kelvinmwewa |
| Copyright Year | 2019 |
| Abstract | The SMEs in retail sector have the ability to create more employment opportunities, creating higher production volumes and increasing entrepreneurship activities. A major constraint in Mbala is the high levels of unemployment, contributing to high levels of poverty and income inequality, which deteriorates the overall quality of life of the people in the District. SMEs in retail sector have the ability to make a meaningful reduction in the high level of unemployment and contribute to the Gross domestic Product of the local economy. Part of the solution to Zambia’s unemployment problem can be job creation through SMEs in retail sector. The failure rate of SMEs in retail sector is high throughout the world, with the situation being no different to Zambia. Failure of SMEs in retail sector in Zambia may be attributed to many factors and entrepreneurial culture. Despite their important contribution to the Zambian economy, according to Lusaka chambers of commerce (2016), over 75% of SMEs in retail sector in Zambia fail, this failure rate leaves much to be desired. Given this state of SMEs in retail sector in Zambia, this has stimulated an investigation into the factors hindering the growth of SMEs in retail sector in Mbala District. The study was conducted in Mbala District and targeted shop owners, managers and other related businesses dealing in finished goods with a target population of 100 participants. Descriptive The International Journal of Multi-Disciplinary Research ISSN: 3471-7102, ISBN: 978-9982-70-318-5 2 Paper-ID: CFP/583/2018 www.ijmdr.net study was employed in order to provide an accurate representative picture of the situation. The data collection included a self-administered questionnaire that consisted of both open ended and closed ended questions and focused group discussion was used to collect relevant data related to set research objectives. The data was analyzed using Statistical Package for Social Statistics (24.0 SPSS) to show the hindering factors on the growth of SMEs in retail and presentation of findings were by bar charts, and pie charts respectively. It was identified that the economic environment in which the SMEs in retail sector operates it’s neither good nor bad. Various studies on the factors that adversely affect SMEs in retail sector growth were reviewed. The study found out that resources and finance, external environment, competitions and corruption are the most factors that adversely affect the growth of SMEs in the Mbala retail sector. Guidance was also given on what should be done in order to reduce the risk of failing among the SMEs and also to increase the survival chances of the small and medium enterprises in the market. The research concluded by giving suggestion on what should be done to improve the performance and growth of SMEs in a dynamic business environment. The International Journal of Multi-Disciplinary Research ISSN: 3471-7102, ISBN: 978-9982-70-318-5 3 Paper-ID: CFP/583/2018 www.ijmdr.net DEDICATION This research paper is dedicated to my only Daughter (JOY MWEWA) and my wife (ELIDAH MVULA) for their moral and financial support during my research process. I also want to dedicate it to God for giving me good health during my research work. |
| File Format | PDF HTM / HTML |
| Alternate Webpage(s) | http://www.multiresearch.net/cms/publications/CFP5832018.pdf |
| Language | English |
| Access Restriction | Open |
| Content Type | Text |
| Resource Type | Article |
