Evaluation of The Challenges Impacting Recapitalization of Small and Medium-Sized Enterprises (SMEs) in Zambia’s Manufacturing Sector (2014 -2020)

Florence Musonda and Zivanai Mazhambe
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Florence Musonda: MBA FINANCE, The University of Zambia
Zivanai Mazhambe: MBA FINANCE, The University of Zambia

International Journal of Research and Innovation in Social Science, 2023, vol. 7, issue 3, 980-989

Abstract: Small and Medium sized Enterprises (SMEs) are the backbone of virtually all economies in the world. However, the process has long been constrained by various factors, one of such constraints is the limited availability and accessibility of financial resources to meet a variety of operational and investment needs within the SME sectors. It is against this background that this study aimed at evaluating the challenges impacting recapitalization of Small and Medium-Sized Enterprises (SMEs) in Zambia. The study covered a selected number of SMEs operating in the manufacturing sector within Lusaka’s industrial area and the town centre. It was established that the main challenge faced by SMEs is having access to finances that help foster their operations. Access to finance plays a central role in development of enterprises, but this is only possible if it is accessible in reasonable conditions. SMEs are suffered from liquidity problems. In view of the study findings, the study recommends that SMEs make use of practical and unconventional means of alternative sources of finance, given the challenges faced with traditional sources of finance.

Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:bcp:journl:v:7:y:2023:i:3:p:980-989

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