Assessing selected success factors of SMEs in the North West Province
Labuschagne, Reinhardt Corné
MetadataShow full item record
The importance of job creation and increasing sustainability in South Africa has never been as imperative as in the current economic climate. The currency fluctuations, together with the increasing SME failure rates, and develoment concerning legislation have had increased concerns regarding the sustainability of businesses in South Africa. SMEs are the most troublesome. SMEs are noted to be the leader in job creation in South Africa. These businesses contribute a high percentage to the GDP every year. Nine constructs have been identified which may result in having a direct impact on the business success of SMEs. The correlation between these constructs and the business success of SMEs has been quantified by distributing 200 questionnaires throughout the Northwest province of South Africa. The research is focused on the correlation between the constructs and the perceived success of the participating SMEs. The results hereof will increase the managerial ability to make decisions regarding their strategies to increase business success. The results of this study concluded that there are certain factors considered as important contributors to SME success. The importance of this study is the contribution of a framework which will assist in the management of SMEs to obtain future success. Further development of an SME programme and the development of government policies are very important issues to assist this commercial driver of the economy.