- Title
- The challenges and survival strategies for SMME’s in Nelson Mandela Metro during Covid19
- Creator
- Faltein, Nelisa
- Subject
- Business enterprises, Black -- South Africa -- Eastern Cape
- Subject
- COVID-19 Pandemic, 2020- -- Economic aspects -- South Africa -- Eastern Cape
- Date Issued
- 2021-12
- Date
- 2021-12
- Type
- Master's theses
- Type
- text
- Identifier
- http://hdl.handle.net/10948/53733
- Identifier
- vital:45721
- Description
- Throughout history entrepreneurship has played an integral part in society. It improves standard of living, develops new markets, and puts ideas into effect while fostering economic growth and job creation. Over the recent years, the countries around the world have experienced unprecedented economic meltdowns. Economic events and prospects in industrialised countries like Europe, Asia, and America have a direct and immediate impact on developing countries, particularly Africa. Positive economic growth of Africa's key trading partners has a direct impact on the continent's economy. Africa's key trading partners' negative economic growth has unfavourable effects for the continent's economy. This was recently further exposed and exacerbated by the novel Corona virus pandemic. The worldwide economic crises have resulted in global financial melt downs, volatile exchange rates, fluctuating steel prices, soaring labour costs, and more importantly competitiveness in markets. In South Africa this has contributed to very high rates of youth unemployment, stagnant economic growth, volatile socio-economic environment, and high failure of small, medium, and micro enterprises (SMMEs) amongst other factors. South African SMMEs have been identified as key role players and drivers for job creation; the industry already absorbs most of the employed population. They are a potential mechanism for creation of new and sustainable employment opportunities. Furthermore, they contribute to the Gross Domestic Product (GDP) of the country yet experience a high failure rate. A successful enterprise has a massive social impact and economic contribution in a country. It is therefore indisputable that the field of entrepreneurship has received immense academic interest. The current Volatile, Uncertain, Complex and Ambiguous socio-economic environment necessitates strategies that are aimed at the growth, innovativeness, adaptability, and agility of entrepreneurs and SMMEs. This will enable them to reach their full potential and effectively deliver on job creation and economic growth. The purpose of this research treatise is to develop a development framework for SMMEs and entrepreneurs in the Nelson Mandela Metro. This was achieved by applying academic insights and an extensive literature review on personality traits of entrepreneurs, the internal and external environment, and their contribution to the success of entrepreneurial ventures, which has led to the development of research propositions. The study is quantitative research on 45 SMMEs from the Nelson Mandela Metro. It contributes positively to the academic field of entrepreneurship, SMMEs and to the existing academic body of knowledge with a positive contribution on entrepreneurial traits, business development, strategy formulation and strategy implementation.
- Description
- Thesis (MBA) -- Faculty of Business and Economic Sciences, 2021
- Format
- computer
- Format
- online resource
- Format
- Format
- 1 online resource (xii, 132 pages)
- Publisher
- Nelson Mandela University
- Publisher
- Faculty of Business and Economic Sciences
- Language
- English
- Rights
- rights holder
- Rights
- All Rights Reserved
- Rights
- Open Access
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| Thumbnail | File | Description | Size | Format | |||
|---|---|---|---|---|---|---|---|
| View Details Download | SOURCE1 | Faltein, N.pdf | 1 MB | Adobe Acrobat PDF | View Details Download |