Driving Sustainable Growth for Small and Medium Enterprises in Emerging Urban–Rural Economies

Ndivhuho Tshikovhi (), Krantisagar More and Zamaswazi Cele
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Ndivhuho Tshikovhi: Faculty of Management Sciences, Durban University of Technology, Durban 4001, South Africa
Krantisagar More: Department of Pharmaceutical Sciences and Technology, Institute of Chemical Technology, Mumbai 400019, India
Zamaswazi Cele: Faculty of Management Sciences, Durban University of Technology, Durban 4001, South Africa

Sustainability, 2023, vol. 15, issue 21, 1-11

Abstract: Rural economies are crucial for global development, with more than 80% of the world’s population living in rural areas and agriculture providing livelihoods for approximately 2.5 billion people worldwide. However, these economies are often vulnerable to various factors, including climate change, natural disasters, and a lack of progressive economic policies. The main aim of making rural economies more sustainable is to promote long-term economic development, protect the environment, and improve the quality of life in urban–rural communities. This paper explored certain strategies for enhancing rural economies to be more sustainable. The results show that smart growth has been rapidly growing in urban cities, while certain communities outside urban areas have been left behind. However, both urban and rural communities need economic growth and be adaptive to smart growth to serve their communities and adhere to the Sustainable Development Goals (SDGs) in the new era of innovation. Thus, we argue that rural areas are a big part of emerging economies. As such, they cannot be left behind in any smart growth. In this study, we found that rural economies need training and up-skilling in order to improve their sustainability and efficiency targets. Through a systematic review, this paper looked at various ways rural communities can solve their challenges toward smart growth and the sustainability of their resources. As a result, we propose solutions for urban–rural communities to implement in daily activities in terms of policy and practice approaches.

Keywords: SMEs; smart growth; innovation; rural communities; urbanization (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2023
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