The impact of education and training on the success of small and medium-sized enterprises
Journal Title: International Journal of Innovation in Management, Economics and Social Sciences - Year 2022, Vol 2, Issue 3
Abstract
Purpose Many business management researchers regard the small and medium-sized enterprise sector as the pillar and primary impetus of economic growth, particularly in developing countries. As a result, most governments throughout the world now place a strong emphasis on small business development in order to spur economic growth. The purpose of this study was to see how education and training affected the success of small businesses. Methodology: This study uses a qualitative research approach to collect and analyses data. The studyâs 20 small business owners and managers in South Africa were selected using a non-probability sampling approach. Data was collected through interviews, and the results were analyzed using subject analysis. Findings: This studyâs findings reveal that a lack of human capital education and training is one of the primary causes of SMEsâ high failure rate, which also explains why these enterprises fail so frequently in most countries. It is clear that small business owners and managers, particularly in most developing nations such as South Africa, should consider spending more on business education and training in order to gather information that would help them establish unique business strategies. Originality/Value: The impact of education and training on the success of small and medium-sized enterprises.
Authors and Affiliations
Paul Saah,
Keywords
Related Articles
- EP ID EP711383
- DOI -
- Views 64
- Downloads 0
AIoT-based Sustainable Smart Supply Chain Framework
Purpose: Supply chains in today's global environment operate in a market that is increasingly complex and dynamic in nature. In such an environment, a stable supply chain to respond to drastic changes in customer needs b...
Spending Allocation, Capacity and Village-Owned Enterprises: Does it Matter to Village Income in Indonesia?
Purpose: This paper aims to analyze the influence of village spending, village device capacity, and village-owned enterprise on village income. The data source is The Village Potential Statistics 2018, testing was conduc...
Analyzing Success Factors of Small and Medium Enterprises (SMEs): A Study in Iranian Context
Purpose: This study aims to identify and analyze the success factors of small and medium-sized enterprises (SMEs) following the lines of dynamic capabilities and resources-based views. Methodology: To achieve this o...
Designing and Solving Location-Routing-Allocation Problems in a Sustainable Blood Supply Chain Network of Blood Transport in Uncertainty Conditions
Purpose: In this paper, a location-routing-allocation problem in a multi-objective blood supply chain network was designed to reduce the total cost of the supply chain network, the maximum unmet demand from distribution...
Review and prioritization of investment projects in the Waste Management organization of Tabriz Municipality with a Rough Sets Theory approach
Purpose: Prioritization of investment projects is a key step in the process of planning the investment activities of organizations. Choosing the suitable projects has a direct impact on the profitability and other strate...