The impact of the global financial crisis on small businesses
- Authors: Dontoni, Jovani Zavatunga
- Date: 2014
- Subjects: Global Financial Crisis , Small business
- Language: English
- Type: Thesis , Masters , MTech
- Identifier: vital:9333 , http://hdl.handle.net/10948/d1021187
- Description: The creation and survival of SMEs largely continues to depend upon access to financing. When a financial crisis in the USA becomes a global economic crisis, SMEs and entrepreneurs all over the world suffer what can be called a double shock; a drop in demand for goods and services and a further tightening in credit terms. It becomes important therefore, to have a strategy on how to tackle the difficulties created by the crisis. Governments are trying to respond by helping to support sales and prevent bankruptcy of SMEs; by increasing access to liquidity, and by helping SMEs to maintain their investment level. Adequate responses of small businesses to the global financial crisis will determine how they will be impacted by the global financial crisis. Many research studies have shown how businesses behave in times of economic abundance. Although over ten economic recessions occurred during the past century, research on the response of businesses to financial challenges remains low. For this reason, the aim of this research was to demonstrate the response of small business owners and managers to the global financial crisis. To achieve this objective, the researcher used an integrated study method, as follows: A systematic literature review of the importance of small businesses in the economy and the implications of the global financial crises in the world and the South African economies. An empirical survey was conducted on small businesses in the Nelson Mandela Bay area in order to demonstrate their response to the global financial crisis. The results of the literature review and the empirical survey allowed the research to come to the conclusion that during times of financial challenges, small businesses decrease the number of people employed (only employ the people needed), increase efficiency through management, and reduce costs through efficient operations. This study contributes to the literature on small business responsive behaviour during times of economic crisis. As a result, this study presents recommendations and suggestions to assist owners and/or managers to respond appropriately to times of financial contraction.
- Full Text:
- Date Issued: 2014
- Authors: Dontoni, Jovani Zavatunga
- Date: 2014
- Subjects: Global Financial Crisis , Small business
- Language: English
- Type: Thesis , Masters , MTech
- Identifier: vital:9333 , http://hdl.handle.net/10948/d1021187
- Description: The creation and survival of SMEs largely continues to depend upon access to financing. When a financial crisis in the USA becomes a global economic crisis, SMEs and entrepreneurs all over the world suffer what can be called a double shock; a drop in demand for goods and services and a further tightening in credit terms. It becomes important therefore, to have a strategy on how to tackle the difficulties created by the crisis. Governments are trying to respond by helping to support sales and prevent bankruptcy of SMEs; by increasing access to liquidity, and by helping SMEs to maintain their investment level. Adequate responses of small businesses to the global financial crisis will determine how they will be impacted by the global financial crisis. Many research studies have shown how businesses behave in times of economic abundance. Although over ten economic recessions occurred during the past century, research on the response of businesses to financial challenges remains low. For this reason, the aim of this research was to demonstrate the response of small business owners and managers to the global financial crisis. To achieve this objective, the researcher used an integrated study method, as follows: A systematic literature review of the importance of small businesses in the economy and the implications of the global financial crises in the world and the South African economies. An empirical survey was conducted on small businesses in the Nelson Mandela Bay area in order to demonstrate their response to the global financial crisis. The results of the literature review and the empirical survey allowed the research to come to the conclusion that during times of financial challenges, small businesses decrease the number of people employed (only employ the people needed), increase efficiency through management, and reduce costs through efficient operations. This study contributes to the literature on small business responsive behaviour during times of economic crisis. As a result, this study presents recommendations and suggestions to assist owners and/or managers to respond appropriately to times of financial contraction.
- Full Text:
- Date Issued: 2014
The role of records management in the sustainability of small micro medium enterprises (SMMEs) in the Eastern Cape, South Africa: a study of Alice and Fort Beaufort
- Ajibade, Patrick https://orcid.org/0000-0002-8608-8378
- Authors: Ajibade, Patrick https://orcid.org/0000-0002-8608-8378
- Date: 2014
- Subjects: Knowledge management , Small business
- Language: English
- Type: Master's theses , text
- Identifier: http://hdl.handle.net/10353/25259 , vital:64122
- Description: The study sought to investigate the role of records management in the sustainability of the Small Micro, Medium enterprises (SMMEs) in the Eastern Cape Province of South Africa with focus on Alice and Fort Beaufort towns. The objectives of the study were to identify the types of records that are kept by SMMEs; evaluate the infrastructure for the SMMEs records management; determine the compliance of SMMEs with the existing RM legal and regulatory requirements; and identify the challenges related to SMMEs records practices. Twenty three (23) respondents from SMMEs were interviewed. Findings revealed all the respondents could not confirm adoption of any systemic way of records management to support business functions and operations. Majority of the SMMEs due to their inability to maintain records could not identify potential benefit of business RM with an exception of three SMMEs. The respondents were not aware of any compliance and regulatory framework most especially on business records management. The challenges facing SMMEs include; inability to capture/create maintain, preserve business records systematically in its lifecycle. The SMMEs lack needed training especially in records management to allow them the benefit of maintaining business records. It is recommended that SMMEs should acquire skill that would enable them manage their business records that may help improved decision making. There should be legislative and regulatory framework that ensures compliance. And assistance should be rendered to train SMMEs on basic RM skills that could improve their business operations. , Thesis (MLIS) -- Faculty of Social Sciences and Humanities, 2014
- Full Text:
- Date Issued: 2014
- Authors: Ajibade, Patrick https://orcid.org/0000-0002-8608-8378
- Date: 2014
- Subjects: Knowledge management , Small business
- Language: English
- Type: Master's theses , text
- Identifier: http://hdl.handle.net/10353/25259 , vital:64122
- Description: The study sought to investigate the role of records management in the sustainability of the Small Micro, Medium enterprises (SMMEs) in the Eastern Cape Province of South Africa with focus on Alice and Fort Beaufort towns. The objectives of the study were to identify the types of records that are kept by SMMEs; evaluate the infrastructure for the SMMEs records management; determine the compliance of SMMEs with the existing RM legal and regulatory requirements; and identify the challenges related to SMMEs records practices. Twenty three (23) respondents from SMMEs were interviewed. Findings revealed all the respondents could not confirm adoption of any systemic way of records management to support business functions and operations. Majority of the SMMEs due to their inability to maintain records could not identify potential benefit of business RM with an exception of three SMMEs. The respondents were not aware of any compliance and regulatory framework most especially on business records management. The challenges facing SMMEs include; inability to capture/create maintain, preserve business records systematically in its lifecycle. The SMMEs lack needed training especially in records management to allow them the benefit of maintaining business records. It is recommended that SMMEs should acquire skill that would enable them manage their business records that may help improved decision making. There should be legislative and regulatory framework that ensures compliance. And assistance should be rendered to train SMMEs on basic RM skills that could improve their business operations. , Thesis (MLIS) -- Faculty of Social Sciences and Humanities, 2014
- Full Text:
- Date Issued: 2014
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