The impact of education and training on the success of small and medium-sized enterprises

Abstract

Purpose Many business management researchers regard the small and mediumsized enterprise sector as the pillar and primary impetus of economic growth, particularly in developing countries. As a result, most governments throughout the world now place a strong emphasis on small business development in order to spur economic growth. The purpose of this study was to see how education and training affected the success of small businesses. Methodology: This study uses a qualitative research approach to collect and analyses data. The study's 20 small business owners and managers in South Africa were selected using a non-probability sampling approach. Data was collected through interviews, and the results were analyzed using subject analysis. Findings: This study's findings reveal that a lack of human capital education and training is one of the primary causes of SMEs' high failure rate, which also explains why these enterprises fail so frequently in most countries. It is clear that small business owners and managers, particularly in most developing nations such as South Africa, should consider spending more on business education and training in order to gather information that would help them establish unique business strategies. Originality/Value: The impact of education and training on the success of small and medium-sized enterprises.

Optimizing Mobile Commerce to Improve Small and Medium Enterprises Markets

“…According to (Kademeteme & Twinomurinzi, 2019;Bvuma & Marnewick 2020;Matekenya & Moyo, 2022), in the republic of South Africa, SMEs function in environments such as towns, cities, and villages. Saah (2021) alludes that SMEs play a significant role in the economic growth and development of South Africa. Furthermore, Maziriri (2018), Saah, (2021, Ngibe and Lekhanya (2019) also point out that SMEs play a significant role in the South African economy by creating jobs, reducing poverty, and contributing to the Gross Domestic Product (GDP).…”

“…Saah (2021) alludes that SMEs play a significant role in the economic growth and development of South Africa. Furthermore, Maziriri (2018), Saah, (2021, Ngibe and Lekhanya (2019) also point out that SMEs play a significant role in the South African economy by creating jobs, reducing poverty, and contributing to the Gross Domestic Product (GDP). A study conducted by Matekenya and Moyo (2022) pointed out that in South Africa, SMEs contribute 56 percent to the creation of new job opportunities and approximately 50 percent to the Gross Domestic Product (GDP).…”

The use of Software as a Service to improve the Dynamic Capabilities of South African Small and Medium Enterprises

“…COVID-19 caused a global economic slowdown and SMEs were unable to conduct business because of the restrictions. Several scholars (Maziriri, 2018;Ngibe & Lekhanya, 2019;Saah, 2021;Matekenya & Moyo, 2022) pointed out that SMEs in South Africa play a significant role in economic development. According to (Kademeteme & Twinomurinzi, 2019;Matekenya & Moyo, 2022) in South Africa, the definition of SMEs is found in the National Business Act (102) of 1996.…”

“…According to (Ndiaye et al, 2018;Kalidas et al, 2020) SMEs are important in the global economy worldwide, in both developed and developing countries. As highlighted by (Matekenya & Moyo, 2022), in South Africa, SMEs are essential because they create job opportunities, reduce poverty (Maduku et al, 2016) and they also contribute to the Gross Domestic Product (GDP) (Ngibe & Lekhanya, 2019;Saah, 2021).…”

“…They also pointed out that by the year 2030, these organizations are expected to create more than (>) 90 per cent of new job opportunities. However, despite the role and importance of SMEs in the South African economy (Saah, 2021). The COVID-19 Coronavirus caused a global economic slowdown and SMEs were most affected because they do not have resources to survive the crisis (Kalidas et al, 2020;Kamarudin et al, 2022 ) Due to movement and travel restrictions implemented to reduce the spread of the virus, SMEs in South Africa faced a tremendous loss (Kalidas et al, 2020).…”