Small Business Management in Kabwe: Factors Influencing Their Failure
Journal Title: Scholars Journal of Economics, Business and Management - Year 2016, Vol 3, Issue 12
Abstract
Abstract:The main objective of this study was to identify the factors influencing failure among small businesses and to investigate the relationship between the number of years of operations and business performance. In order to achieve this objective, we developed a survey instrument and data was gathered by sampling small businesses in Kabwe town. Our research revealed a myriad of factors, but the most important factors are lack of market information, financial constraints, high taxes and lack of collateral were more often cited. The study also revealed that the more years spent in business with good government policy was cardinal in the success of small businesses. Therefore, we found that the longer one stays in business the higher the probability that he/she would yield the profits and expand the business tentacles in other forms of diversity. Finally we draw conclusion and suggestion for small business owners, researchers and policy makers. Keywords:Small Businesses, business failure, Enterprise development, Entrepreneurship
Authors and Affiliations
Clement Mwaanga, Kayumba Moonga
Keywords
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