A Descriptive Study of the Growth Strategies Adopted by Small to Medium Enterprises (SMEs) in Harare, Zimbabwe (2009 – 2021)

Nothando Tshuma, Simbarashe Gwata, Smarntha Shonhiwa and Amos Mpofu
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Nothando Tshuma: National University of Science and Technology, Bulawayo Zimbabwe
Simbarashe Gwata: National University of Science and Technology, Bulawayo Zimbabwe
Smarntha Shonhiwa: National University of Science and Technology, Bulawayo Zimbabwe
Amos Mpofu: National University of Science and Technology, Bulawayo Zimbabwe

International Journal of Research and Innovation in Social Science, 2022, vol. 6, issue 5, 698-704

Abstract: The role played by Small and Medium Enterprises (SMEs) in economic development is substantial, hence their progression and viability is of major concern. This study aimed to describe the growth strategies adopted by SMEs in Harare. A descriptive survey research design was used. In the first strand quantitative data was collected through questionnaires from sixty-one SMEs. In the second strand qualitative data was collected through interviews with thirty selected participants from the first strand. Research findings show that the key strategy used by SMEs is networking market penetration, market development, human resource strategy, diversification strategy and product development strategy. Education was the most prominent factor affecting the choice of strategy. The study recommends SMEs to make use of growth strategies that are in line with their vision and mission. A thorough analysis of the environment wherein they operate should be done before they use a particular growth strategy.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:bcp:journl:v:6:y:2022:i:5:p:698-704

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