The Dichotomy between Small, Medium and Micro Enterprises and Financial Institutions in Thohoyandou

Beyers, Lourens Johannes Erasmus; Ndou, Piet Muhali

doi:10.1080/09765239.2016.11907819

Cited by 1 publication

(1 citation statement)

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“…Overall, SMBs are characterised primarily by parameters that include the number of workers, revenue from sales, and the value of assets (Erasmus Beyers and Ndou, 2016). SMBs are described in this setting as business entities or operations which use no over 100 workers and whose overall asset base (except real estate and structures) cannot exceed the currency comparable of R1 million in value; and companies funded by a single person or an assortment of physically specific people (SINEBE, 2023).SMBs have historically been viewed as the driving force of economic expansion (Agwa-Ejon & Mbohwa, 2015).…”

Section: Literature Reviewmentioning

confidence: 99%

Financial management engagement and small and medium-sized businesses in eThekwini municipality, South Africa

Aliamutu,

Mkhize

2024

Econ. manag. sustain.

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Small and medium-sized businesses are widely recognised as the cornerstone of growth in emerging and middle-class countries, and South Africa is no different. They generate many job possibilities and salaries for many individuals who live in cities, making them an essential component of average national production. The main objective of the research was to examine the level to which Small and Medium-sized businesses in the eThekwini Municipality used financial management. The research project used a quantitative method to collect and analyse data from the field. The survey included 60 participants from various small and medium-sized businesses in eThekwini. Proprietors and managers of small and medium-sized businesses were among those who responded. The rate at which organisations implement systems that effectively organise their money was a crucial component in analysing the financial management engagements of small and medium-sized businesses. This can be assessed in various ways, including distributing closed-ended surveys to responders. As a result, the proprietors of small and medium-sized businesses were prompted to score their companies based on the level to which financial preparation strategies were implemented and the funding sources. The research found that small and medium-sized businesses in the research areas did not develop long-term financial strategies that included investments in non-current assets, shares, stocks, and real estate initiatives. Small and medium-sized businesses must establish trustworthy systems for accounting information, disclose and analyse their financial challenges regularly, and advocate for laws that make it simpler for small and medium-sized businesses to obtain inexpensive financing. Since small and medium-sized businesses are recognised as contributing significantly to national economic growth, they must keep growing.

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Section: Literature Reviewmentioning

confidence: 99%