Authors: Musonda Mubanga
Abstract: The study sought to establish the factors affecting the growth of small and micro enterprises (SMEs) in Mporokoso district, Zambia. The small medium enterprises under focus are as follows: Kutentemba Enterprises, Yopa General Dealers and Luzangu Electronics Enterprises. The study employed a descriptive research design to achieve the objectives. It was discovered that 53.25 of small and medium sized business are owned by female or women while 46.7% are owned by males or Men. This could be attributed to the fact that, women create small business in older to manage time or balance work life and family life. Then, 3.3% SMEs are owned by those who are less than 18 years of age. 46.7% shows those who in the age group between 19-24 years of age. 36.7% are those in the age group of 25-30 years and 13.3% are those who are in the age group above 31 years of age. Moreover, it was found out that 60% are single, 27% are married, 3% are divorced and last the research shows that 10% are widowed. Besides that 53% are less or equal to 3 people per family members, those who are between 3-5 , the research shows 30% and 16% for those who are between 6-11 members per family. Furthermore, it was discovered that 53.3% have their first degree, which is the biggest percentage. 10% are those who are able to read and write, 13.3% those who have reached their grade 12, another 10% those who have done a vocational training and for those who hold a diploma are 13% of the total sampled. Then, when the business was established.46.7% of the SMEs were established more than 5 years ago. 12% are reported to have started their business greater than 2 year but less than 5 years. 33.3 % shows that they started their business equal or less 2 years but greater than 1 year. For those who started their business have 8%. The study shows that legal information is very important; this can be attributed to the fact that, SMEs need legal information in order for them to access loans. It also highlighted how important technology, financial resources, strategic partners and product market readiness is. The majority of the SMEs felt that ZDA does not introduce the network in their line of business,78.3% say that, the ZDA do not introduce them next contact while 21.7% say, they have been introduced the network. The study concluded that access to finance and lack of managerial skills experience are the key socio-economic factors affecting the growth of businesses in Mporokoso.
DOI: https://doi.org/10.5281/zenodo.19886098
