IDEAS home Printed from https://ideas.repec.org/a/rom/bemann/v13y2023i3p18-32.html
   My bibliography  Save this article

Consequences Of Failure And Challenges Of Small Business In South Africa: A Theoretical Review

Author

Listed:
  • Ikenna Franklin EZE

    (Walter Sisulu University, Mthatha, South Africa)

  • Thobekani LOSE

    (Walter Sisulu University, Mthatha, South Africa)

Abstract

In most nations, small businesses are viewed as vital to economic advancement. These smaller businesses can take advantage of environmental opportunities more effectively than huge corporations since they are more adaptable. Nevertheless, in the course of their activity, they also face numerous challenges. The study aimed to look at the challenges faced by Small businesses in South Africa and the consequences of small business failure within the country. The study also made recommendations on how to sustain these small businesses. This paper was written by employing a descriptive literature review. The descriptive literature review approach is an organised process that seeks out, collects, and evaluates published works in a specific area to identify any discernible patterns or trends. Every SME failure situation ought to be reviewed as a unique case and treated on its merit. Consequently, the success of small businesses would be found in the reverse of these elements, namely, entrepreneur capacity, enterprise competitiveness, and environmental conduciveness.

Suggested Citation

  • Ikenna Franklin EZE & Thobekani LOSE, 2023. "Consequences Of Failure And Challenges Of Small Business In South Africa: A Theoretical Review," Business Excellence and Management, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 13(3), pages 18-32, September.
    • Handle: RePEc:rom:bemann:v:13:y:2023:i:3:p:18-32
    as

    Download full text from publisher

    File URL: https://beman.ase.ro/no133/2.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Faiza Manzoor & Longbao Wei & Noman Sahito, 2021. "The role of SMEs in rural development: Access of SMEs to finance as a mediator," PLOS ONE, Public Library of Science, vol. 16(3), pages 1-18, March.
    2. Reginald Masocha, 2019. "Social Sustainability Practices on Small Businesses in Developing Economies: A Case of South Africa," Sustainability, MDPI, vol. 11(12), pages 1-13, June.
    3. Abraham K. Song, 2019. "The Digital Entrepreneurial Ecosystem—a critique and reconfiguration," Small Business Economics, Springer, vol. 53(3), pages 569-590, October.
    4. Kimble Byrd & Linda W. Ross & Caroline E. W. Glackin, 2013. "A Preliminary Causal Analysis of Small Business Access to Credit during Economic Expansion and Contraction," Journal of Applied Finance & Banking, SCIENPRESS Ltd, vol. 3(5), pages 1-6.
    5. Janice Byrne & Salma Fattoum & Maria Cristina Diaz Garcia, 2019. "Role Models and Women Entrepreneurs: Entrepreneurial Superwoman Has Her Say," Journal of Small Business Management, Taylor & Francis Journals, vol. 57(1), pages 154-184, January.
    6. Saastamoinen, Jani & Reijonen, Helen & Tammi, Timo, 2018. "Should SMEs pursue public procurement to improve innovative performance?," Technovation, Elsevier, vol. 69(C), pages 2-14.
    7. Vasileios A. Vlachos & Aristidis Bitzenis, 2016. "Tax compliance of small enterprises in Greece," International Journal of Entrepreneurship and Small Business, Inderscience Enterprises Ltd, vol. 28(2/3), pages 380-389.
    8. Patrick Mikalef & John Krogstie, 2020. "Examining the interplay between big data analytics and contextual factors in driving process innovation capabilities," European Journal of Information Systems, Taylor & Francis Journals, vol. 29(3), pages 260-287, May.
    9. Clavis Nwehfor Fubah & Menisha Moos, 2022. "Exploring COVID-19 Challenges and Coping Mechanisms for SMEs in the South African Entrepreneurial Ecosystem," Sustainability, MDPI, vol. 14(4), pages 1-20, February.
    10. Elias Hadjielias & Michael Christofi & Shlomo Tarba, 2022. "Contextualizing small business resilience during the COVID-19 pandemic: evidence from small business owner-managers," Small Business Economics, Springer, vol. 59(4), pages 1351-1380, December.
    11. Cecile Nieuwenhuizen, 2019. "The effect of regulations and legislation on small, micro and medium enterprises in South Africa," Development Southern Africa, Taylor & Francis Journals, vol. 36(5), pages 666-677, September.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Muhammad Farooq Islam & Ozge Can, 2024. "Integrating digital and sustainable entrepreneurship through business models: a bibliometric analysis," Journal of Global Entrepreneurship Research, Springer;UNESCO Chair in Entrepreneurship, vol. 14(1), pages 1-18, December.
    2. Chunling Yu & Toru Morotomi & Haiping Yu, 2020. "What Influences Adoption of Green Award Criteria in a Public Contract? An Empirical Analysis of 2018 European Public Procurement Contract Award Notices," Sustainability, MDPI, vol. 12(3), pages 1-20, February.
    3. Ludivine Ravat & Aurélie Hemonnet-Goujot & Sandrine Hollet-Haudebert, 2023. "Data-driven innovation capability of marketing: an exploratory study of its components and underlying processes," Post-Print hal-04151199, HAL.
    4. Hui Zhang & Jin-Biao Yi & Qian Wang, 2021. "Research on the Collaborative Evolution of Blockchain Industry Ecosystems in Terms of Value Co-Creation," Sustainability, MDPI, vol. 13(21), pages 1-17, October.
    5. Saurabh A. Lall & Li-Wei Chen & Dyana P. Mason, 2023. "Digital platforms and entrepreneurial support: a field experiment in online mentoring," Small Business Economics, Springer, vol. 61(2), pages 631-654, August.
    6. Jean-Michel Sahut & Luca Iandoli & Frédéric Teulon, 2021. "The age of digital entrepreneurship," Small Business Economics, Springer, vol. 56(3), pages 1159-1169, February.
    7. Theodoros Kounadeas & Nikolaos Eriotis & Paraskevi Boufounou & Donta Sofia, 2022. "Analysis of the Factors Affecting Tax Evasion in Greece," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(1), pages 140-158.
    8. Krieger, Bastian & Zipperer, Vera, 2022. "Does green public procurement trigger environmental innovations?," Research Policy, Elsevier, vol. 51(6).
    9. Wunhong Su & Liuzhen Zhang & Chao Ge & Shuai Chen, 2022. "Association between Internal Control and Sustainability: A Literature Review Based on the SOX Act Framework," Sustainability, MDPI, vol. 14(15), pages 1-30, August.
    10. Lahiri, Bidisha & Ali, Haider, 2022. "Inspections, informal payments and tax payments by firms," Finance Research Letters, Elsevier, vol. 46(PA).
    11. Shadrack Muthami Mwatu, 2022. "Institutions and export performance: firm level evidence from Kenya," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 69(4), pages 487-506, December.
    12. Wang, Lu & Su, Zhong-qin & Fung, Hung-Gay & Jin, Hong-min & Xiao, Zuoping, 2021. "Do CEOs with academic experience add value to firms? Evidence on bank loans from Chinese firms," Pacific-Basin Finance Journal, Elsevier, vol. 67(C).
    13. Leogrande, Angelo & Costantiello, Alberto & Laureti, Lucio & Matarrese, Marco Maria, 2022. "Innovative SMEs Collaborating with Others in Europe," MPRA Paper 113008, University Library of Munich, Germany.
    14. Chaudhary, Sanjay & Kaur, Puneet & Ferraris, Alberto & Bresciani, Stefano & Dhir, Amandeep, 2024. "Connecting entrepreneurial ecosystem and innovation. Grasping at straws or hitting a home run?," Technovation, Elsevier, vol. 130(C).
    15. Wei Zhou & Zidong Wang, 2020. "Competing for Search Traffic in Query Markets: Entry Strategy, Platform Design, and Entrepreneurship," Working Papers 20-12, NET Institute.
    16. Ali Hussein Hadi & Ghassan Rashad Abdulhameed & Yasir Sahib Malik & Hakeem Hammood Flayyih, 2023. "The influence of information technology (IT) on firm profitability and stock returns," Eastern-European Journal of Enterprise Technologies, PC TECHNOLOGY CENTER, vol. 4(13 (124)), pages 87-93, August.
    17. Jiyoung Kimjeon & Per Davidsson, 2022. "External Enablers of Entrepreneurship: A Review and Agenda for Accumulation of Strategically Actionable Knowledge," Entrepreneurship Theory and Practice, , vol. 46(3), pages 643-687, May.
    18. Tahereh Maghsoudi & Rosalía Cascón-Pereira & Ana Beatriz Hernández Lara, 2020. "The Role of Collaborative Healthcare in Improving Social Sustainability: A Conceptual Framework," Sustainability, MDPI, vol. 12(8), pages 1-15, April.
    19. Marilen Gabriel Pirtea & Graţiela Georgiana Noja & Mirela Cristea & Mirela Panait, 2021. "Interplay between environmental, social and governance coordinates and the financial performance of agricultural companies," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 67(12), pages 479-490.
    20. Gomes, Leonardo Augusto de Vasconcelos & Flechas, Ximena Alejandra & Facin, Ana Lucia Figueiredo & Borini, Felipe Mendes, 2021. "Ecosystem management: Past achievements and future promises," Technological Forecasting and Social Change, Elsevier, vol. 171(C).

    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:rom:bemann:v:13:y:2023:i:3:p:18-32. 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.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with 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: Zamfir Andreea (email available below). General contact details of provider: https://edirc.repec.org/data/mnasero.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.