This paper is part of the International Journal of Applied Research in Business and Management (ISSN: 2700-8983), Volume 5, Issue 2, published in 2024.
Authors
Pamire Jongwe, Mmboswobeni Watson Ladzani, Solly Matshonisa Seeletse
Abstract
The empowerment of entrepreneurs in the Small and Medium-sized Enterprises (SMEs) sector in Masvingo Province, Zimbabwe, is critical for economic growth and development. This article examines the challenges faced by these entrepreneurs, beginning with a comprehensive literature review followed by findings from a study of 233 SME owners, identified through random sampling. Using a survey method, the study found that men own more SMEs than women, and that older entrepreneurs tend to dominate the sector. Despite the lower number of women-led SMEs, the number of female entrepreneurs is rising, though their success rate lags behind that of men. SMEs face numerous challenges, including financial constraints, inadequate infrastructure, and limited skills and knowledge. The article recommends addressing these barriers through targeted initiatives aimed at improving the survival and sustainability of SMEs in Masvingo. By focusing on both financial and non-financial issues, particularly those affecting women and younger entrepreneurs, the study aims to enhance SME performance and contribute to the region’s overall economic development.
Suggested Citation (APA 7th)
Jongwe, P., Ladzani, M., Seeletse, S. (2024). Navigating the Strengths and Weaknesses of Small and Medium Enterprises of Masvingo Province, Zimbabwe, Based on Profiles: Strategies for Sustainable Growth. International Journal of Applied Research in Business and Management, 5(2). https://doi.org/10.51137/wrp.ijarbm.2024.pjnt.45614
