Please use this identifier to cite or link to this item: https://hdl.handle.net/10321/3677
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dc.contributor.authorOlarewaju, Odunayoen_US
dc.contributor.authorMsomi, Thabisoen_US
dc.date.accessioned2021-10-15T14:02:01Z-
dc.date.available2021-10-15T14:02:01Z-
dc.date.issued2021-
dc.identifier.citationOlarewaju, O. and Msomi, T. 2021. Factors affecting small and medium enterprises’ financial sustainability in South Africa. African Journal of Inter/Multidisciplinary Studies. 3(1): 103-117. doi:10.51415/ajims.v3i1.893en_US
dc.identifier.issn2663-4597-
dc.identifier.issn2663-4589 (Online)-
dc.identifier.urihttps://hdl.handle.net/10321/3677-
dc.description.abstractThe dwindling growth of small businesses and their rate of failure in South Africa has been traced to poor financing. Thus, the factors affecting the financial sustainability of small and medium-sized enterprises in South Africa are examined in this study. Using purposive sampling, data were collected from 310 respondents, however six were incorrectly completed. The analysis was based on data collected from 304 respondents which cut across owners and/or managers from small and medium construction, manufacturing, retail, and agricultural enterprises. A quantitative research design that falls under the positivist paradigm was used. Specifically, through a descriptive and multivariate regression analysis, it was found that financial awareness, budgeting, accounting skills, and access to finance have positive and significant effects on the financial sustainability of SMEs with all the variables, having 0.005 probability values, respectively. Out of all the variables examined, budgeting and access to finance have the largest absolute values of 0.425 and 0.373, respectively. Thus, it was concluded that workshops, training, and seminars to improve the financial literacy of small and medium enterprises should be organised. This will improve owner’s ability to deploy the accounting and budgeting skills and they will be exposed to meeting loan criteria and conditions from financial institutions. Also, adequate funds should be allocated to cater for the regular training and development of small business owners using the services of financial experts.</jats:p>en_US
dc.format.extent15 pen_US
dc.language.isoenen_US
dc.publisherDurban University of Technologyen_US
dc.relation.ispartofAfrican Journal of Inter/Multidisciplinary Studies; Vol. 3, Issue 1en_US
dc.subjectFinancial deficiencyen_US
dc.subjectSmall businessesen_US
dc.subjectEconomic stabilityen_US
dc.subjectFinancial training and developmenten_US
dc.subjectFinancial accessen_US
dc.titleFactors affecting small and medium enterprises’ financial sustainability in South Africaen_US
dc.typeArticleen_US
dc.date.updated2021-10-14T16:02:40Z-
dc.identifier.doi10.51415/ajims.v3i1.893-
local.sdgSDG08-
local.sdgSDG04-
item.languageiso639-1en-
item.openairetypeArticle-
item.openairecristypehttp://purl.org/coar/resource_type/c_18cf-
item.cerifentitytypePublications-
item.fulltextWith Fulltext-
item.grantfulltextopen-
Appears in Collections:Research Publications (Accounting and Informatics)
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