An assessment of the financial challenges and prospects of SMMEs dealing with services in Botswana

Abstract

There are many obstacles to survival and growth of Small, Medium and Micro Enterprises (SMMEs) dealing in services, one of which is the financial aspect. The current study evaluates how these four aspects fair with regard to SMMEs as well as how they contribute to performance. The findings from the literature review enabled the researcher identify the financial aspect as being composed of funding, financial planning, financial records maintenance, and working capital management. The findings from the primary study enabled the researcher identify working capital and funding as being the two aspects of financial aspect that contributed immensely to the performance of SMMEs in the services sector. Funding was also identified as being the biggest challenge to survival of SMMEs.