An Analysis of the Survival Strategies of Small, Medium and Micro Enterprises within the Context of COVID-19

• Published in: African Journal of Development Studies Vol. 2024; no. si1; pp. 29 - 57
• Main Authors: Masenya, Mapitsi Paulinah, Nkondo, Livhuwani Gladys, Lavhelani, Phathutshedzo David
• Format: Journal Article
• Language: English
• Published: London Adonis & Abbey Publishers 01.12.2024; Adonis & Abbey Publishers Ltd
• Subjects: Cash flow; Companies; Cost reduction; COVID-19; Economic growth; Efficiency; Employee retention; Employment; Entrepreneurs; Entrepreneurship; GDP; Gross Domestic Product; Pandemics; Poverty; Qualitative research; Research methodology; Scarcity; Small, medium, and micro enterprises; Survival strategies; Sustainability; Tactics; Work at home
• ISSN: 2634-3630; 2634-3649
• DOI: 10.31920/2634-3649/2024/sin1a2

Small, medium, and micro enterprises (SMMEs) are vital contributors to the expansion of the South African economy, serving as significant drivers of employment, economic advancement, poverty reduction, and wealth generation. Consequently, they are essential for achieving industrial and economic progress. However, despite their critical role, there is a notable scarcity of research on the tactics employed by SMMEs to sustain themselves during periods of crisis. In this study, a qualitative research method was utilised, involving 10 businesses located in Polokwane Local Municipality. Data collection was conducted through structured interviews using a pre-defined guide. The collected data were transcribed using Microsoft Word and subjected to thematic analysis using ATLAS.ti software. The findings unveiled that small, medium, and micro enterprises employed various survival tactics to mitigate the impacts of COVID-19, such as fostering business collaborations, implementing remote work practices, and integrating technological advancements.