Challenges Experienced by SMMES and Interventions by the National and Provincial Government
Challenges Experienced by SMMES and Interventions by the National and Provincial Government

Summary/Abstract: Small, Medium and Micro Enterprises (SMMEs) are businesses that play a pivotal role in every economy in which they operate. The contribution of SMMEs is imperative because of the challenges of job creation, poverty and inequality that still exist globally, particularly in emerging economies. The role of SMMEs is significant, especially in developing and underdeveloped countries, as the sector contributes significantly to new product development and technological innovation, as innovation and entrepreneurship are critical aspects of industrial renewal and economic growth. SMMEs in emerging economies are businesses that ordinarily do not have large capital available or possess large financial footprints in their respective economies. The study was conducted through a theoretical literature review. The findings of the study illustrate that although SMMEs are start-ups trying to break into the formal and mainstream economy and contribute to the country's overall economic growth, regulations and legislative frameworks require or impose stringent compliance, and in most instances become a challenge and impediment for SMMEs. National and provincial public sector institutions may play a pivotal role in facilitating growth and development by ensuring the stability and prominence of the enterprises in the economy.

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