IDEAS home Printed from https://ideas.repec.org/a/rbs/ijbrss/v13y2024i7p606-619.html
   My bibliography  Save this article

The role of small, medium, and micro enterprises in contributing to the socioeconomic development of South Africa

Author

Listed:
  • Joelle Danielle Ngo Ndjama

    (Vaal University of Technology)

  • J. Van Der Westhuizen

    (Vaal University of Technology, South Africa)

Abstract

Since the start of the democratic era in 1994, South Africa has prioritised small, medium, and micro enterprises for economic growth and social development, offering significant opportunities to the unemployed population. However, the extent to which SMMEs contribute to the socio-economic progress of a particular economy is contingent upon various factors, including the specific country or sector in which they operate. In South Africa, the majority of SMMEs operate within the services sector, with 30% in wholesale and retail trade, 23% in community and social services, and 14% in financial services. Grounded on the Resource-Based View theory, this study aims to investigate how SMMEs contribute to the social and economic development of South Africa. Furthermore, their contributions align with four of the Sustainable Development Goals of the United Nations, making this research both relevant and timely. This systematic literature review included nineteen research articles using bibliometric indicators from the Google Scholar database. As a result, the literature review revealed four key SMMEs’ contributions to South African socio-economic development namely employment creation and income generation, economic growth, development and specialisation, contribution to GDP, and poverty alleviation. To further enhance this contribution, it is recommended that governments provide support in the form of training programs, access to finance, and mentorship opportunities to help SMMEs grow and create more job opportunities.. Key Words:SMMEs, small businesses, contributions, social development, economic development, socio-economic development, SMMEs in South Africa

Suggested Citation

  • Joelle Danielle Ngo Ndjama & J. Van Der Westhuizen, 2024. "The role of small, medium, and micro enterprises in contributing to the socioeconomic development of South Africa," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 13(7), pages 606-619, October.
    • Handle: RePEc:rbs:ijbrss:v:13:y:2024:i:7:p:606-619
    DOI: 10.20525/ijrbs.v13i7.3716
    as

    Download full text from publisher

    File URL: https://ssbfnet.com/ojs/index.php/ijrbs/article/view/3716/2566
    Download Restriction: no
    File URL: https://doi.org/10.20525/ijrbs.v13i7.3716
    Download Restriction: no
    File URL: https://libkey.io/10.20525/ijrbs.v13i7.3716?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rbs:ijbrss:v:13:y:2024:i:7:p:606-619. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Umit Hacioglu (email available below). General contact details of provider: https://edirc.repec.org/data/ssbffea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.