Historical Background Of Manufacturing Smes - 1217 Words

CHAPTER ONE INTRODUCTION 1.1 Introduction In this document the researcher will present a detailed historical background of manufacturing SMEs in Zimbabwe. The other issues to be highlighted and discussed include problem statement, purpose or justification of the study, objectives of the study, research questions, research hypothesis, significance of the study, research assumptions, scope or delimitations of the study, ethical considerations and a summary. 1.2 Background to the study (60) Small to medium enterprises (SMEs) have become increasingly important to Zimbabwe s economic growth. Given the increasing number of retrenches due to the economic downturn Zimbabwe experienced, SMEs offer the best alternative means of livelihood for most people. There is therefore, need to support the growth of this sector so that it contributes more meaningfully to national economic development. One of the major problems Practical Action Southern Africa has established as an impediment to the growth of SMEs is lack of proper working capital management systems. This presents a major constraint to their financial performance and their survival. Given the current economic hardships hampering economic progress in Zimbabwe the SMEs industry in one of the key industries where the economy is pinning its hopes. However due to the stringent requirements in the financial sector it is proving to be very difficult for the small firms to secure enough funds to sufficiently finance their operatio ns,Show MoreRelatedEconomics and Business Climate Overview of Lagos, Nigeria.1500 Words   |  6 PagesEconomics and Business Climate Overview of Lagos, Nigeria. 1.0 Background Information 1.1 Geopolitical Profile The smallest in area of Nigerias states (total land area of three thousand, five hundred and seventy seven square meters), Lagos State is the most populous state (with over eighteen million people according to 2006 population census) and unarguably the most economically important state of the country and the nations most urbanized (Economic Intelligence Unit, MEPB 2012). 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