Investigating the growth prospects of SMEs during the COVID-19 pandemic in Polokwane Local Municipality

Small to medium-sized enterprises (SMEs) are generally perceived as the drivers of innovation, economic growth, and employment, especially in emerging economies such as South Africa. The challenges and growth prospects SMEs face are well documented, but in recent years, they had to contend with the coronavirus disease (Covid-19) impacting most economies worldwide. Global epidemic crises expose SMEs to new challenges and risks that impact their viability as a growing business. This study aims to shed light on the impacts of COVID-19 on small businesses within Polokwane Local Municipality and provide recommendations to both policymakers and SMEs impacted by the pandemic to survive and thrive through COVID-19. This study implemented a quantitative research method with an online questionnaire to collect data from SMEs operating in the Polokwane region. The collected data were analysed using the descriptive statistics analysis approach. The results of the study indicate that the COVID-19 pandemic has massively affected small and medium enterprises. The study also explores the challenges SMEs have faced because of the pandemic and states several significant practical implications for SME managers, governments, and policy makers they must overcome to support SMEs during these challenging times, based on the research findings. The study concluded with a summary of key findings hindering the growth prospects of SMEs in Polokwane Local Municipality due to the COVID-19 pandemic. The study made several recommendations to support SMEs in building more resilient strategies and remain viable during periods of disruption. Lastly, the study proposed future studies to be explored to enhance this current study.

Grantor dc:publisher

North-West University (South Africa)

Year dc:date.issued

2024

Author dc:creator

• Rikhotso, Ntiyiso

Advisor dc:contributor.advisor

• Van der Merwe, Stephanus Petrus

• Contribution of SMEs
• COVID-19 impact
• Growth prospects
• Polokwane region
• Consumer spending

Language dc:language.iso

en

Identifier URI

0000-0002-0407-7406

OAI identifier oai:identifier

oai:repository.nwu.ac.za:10394/42704