Government Support for Rural Tourism SMMEs: The Case of Greater Letaba Municipality in South Africa
Small, medium, and micro enterprises (SMMEs) are major contributors to economicgrowth and development. While SMMEs play a crucial role in driving economic growth in advanced economies, they have a high failure rate in South Africa, especially during the start-up and growth phases. This study invest...
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| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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WSB Poznań
2024-12-01
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| Series: | Studia Periegetica |
| Subjects: | |
| Online Access: | https://journals.wsb.poznan.pl/index.php/sp/article/view/2016 |
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| Summary: | Small, medium, and micro enterprises (SMMEs) are major contributors to economicgrowth and development. While SMMEs play a crucial role in driving economic growth in advanced economies, they have a high failure rate in South Africa, especially during the start-up and growth phases. This study investigates the role of government support in the development and growth of SMMEs in South Africa. Its results indicate that despite government support schemes and initiatives, the failure rate of SMMEs remains high. The main challenges faced by the SMME sector include the large number of regulations, which limit the scope of operation and can pose a threat to survival. The main conclusions point to the information deficit and needs analysis that would tailor-make and accommodate the specific requirements of different enterprises.
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| ISSN: | 1897-9262 |