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The Financial Challenges Faced By SMMEs Discussion Paper
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1.1 INTRODUCTION Small, Medium and Micro Enterprises (SMMEs) contribute significantly to job creation and economic growth in South Africa. However, they face numerous financial challenges, which limit their growth potential. This study aims to explore the financial challenges faced by SMMEs in the uMgungundlovu Region, KwaZulu-Natal, South Africa.
1.2 RESEARCH CONTEXT: BACKGROUND The uMgungundlovu Region is a fast-growing region in KwaZulu-Natal, South Africa, with a high number of SMMEs. However, these SMMEs face various challenges, including limited access to finance, inadequate financial management skills, and high competition The Financial Challenges Faced By SMMEs Discussion Paper.
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ANSWER TO THE QUESTION:-
1.1 INTRODUCTION Small, Medium and Micro Enterprises (SMMEs) contribute significantly to job creation and economic growth in South Africa. However, they face numerous financial challenges, which limit their growth potential. This study aims to explore the financial challenges faced by SMMEs in the uMgungundlovu Region, KwaZulu-Natal, South Africa.
1.2 RESEARCH CONTEXT: BACKGROUND The uMgungundlovu Region is a fast-growing region in KwaZulu-Natal, South Africa, with a high number of SMMEs. However, these SMMEs face various challenges, including limited access to finance, inadequate financial management skills, and high competition. 1.3 THE RESEARCH PROBLEM The financial challenges faced by SMMEs in the uMgungundlovu Region have not been adequately researched, and there is limited information on the nature and extent of these challenges. This study aims to address this gap in the literature by exploring the financial challenges faced by SMMEs in the uMgungundlovu Region. 1.4 AIM OF THE STUDY The aim of this study is to explore the financial challenges faced by SMMEs in the uMgungundlovu Region, KwaZulu-Natal, South Africa. 1.5 OBJECTIVES OF THE STUDY The objectives of this study are as follows: To identify the financial challenges faced by SMMEs in the uMgungundlovu Region. To assess the impact of these financial challenges on the growth and sustainability of SMMEs in the uMgungundlovu Region. The Financial Challenges Faced By SMMEs Discussion Paper To recommend strategies to mitigate the financial challenges faced by SMMEs in the uMgungundlovu Region. 1.6 RESEARCH QUESTIONS The research questions for this study are as follows: What are the financial challenges faced by SMMEs in the uMgungundlovu Region? How do these financial challenges affect the growth and sustainability of SMMEs in the uMgungundlovu Region? What strategies can be recommended to mitigate the financial challenges faced by SMMEs in the uMgungundlovu Region? 1.7 JUSTIFICATION OR RATIONALE OF THE STUDY This study is significant because it will provide valuable information on the financial challenges faced by SMMEs in the uMgungundlovu Region, KwaZulu-Natal, South Africa. The findings of this study will help policymakers and stakeholders to develop appropriate strategies to support SMMEs and promote economic growth. 1.8 LITERATURE REVIEW The literature review will provide an overview of the financial challenges faced by SMMEs globally and in South Africa. The review will focus on the factors that limit access to finance, financial management practices, and the impact of financial challenges on the growth and sustainability of SMMEs. 1.9 RESEARCH DESIGN AND METHODOLOGY This study will adopt a qualitative research approach, using semi-structured interviews to collect data from SMMEs in the uMgungundlovu Region. The research design will include the following components: 1.9.1 RESEARCH PHILOSOPHY This study will adopt an interpretivist research philosophy, which emphasizes the subjective interpretation of social phenomena by individuals. 1.9.2 RESEARCH METHODOLOGY This study will use a case study research design, which is appropriate for exploring complex social phenomena in a specific context. The case study will focus on SMMEs in the uMgungundlovu Region. 1.9.3 TARGET POPULATION AND SAMPLING STRATEGY The target population for this study will be The Financial Challenges Faced By SMMEs Discussion Paper
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