Challenges facing sustainable development of small medium micro enterprises (SMMEs) : a case study around Mafikeng local municipality
Mokone, Serotobale Peter
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The study reflects on the dynamics of Small Medium Micro Enterprise (SMME) development in South Africa with particular reference to the North West Province. Interviews were held with SMMEs within the precinct of the Mafikeng Local Municipality, relevant policy documents and other published materials were critiqued, to evaluate processes undertaken for business development. The objective of this study is to examine the challenges faced by SMMEs and explore factors influencing growth and sustainable development of small businesses. Results have shown that the level of education, location of the business, the lack of proper training and government support, were significant in relation to the problems experienced by SMMEs. Most respondents indicated that financial assistance was one of the most important interventions that could help in accelerating growth and sustainability of SMMEs in the Mafikeng Local Municipality. The study recommends that rigid banking requirements need to be relaxed to afford SMMEs access to finance. Financial assistance is one of the key intervention strategies to accelerate the growth and development of SMMEs.