Effect of Small and Medium Enterprises on Growth of Business in Kabale Municipality: A Case Study of Kabale Central Market.
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Date
2024
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Publisher
Kabale University
Abstract
The study focused on examining the impact of Small and Medium Enterprises (SMEs) in generating employment at Kabale Central Market, Kabale District. Its first objective was to identify the activities undertaken by small-scale businesses in the market. The second objective aimed to uncover the challenges encountered by these businesses, while the third objective sought to propose solutions to address these challenges. Using a descriptive approach, the study employed both quantitative and qualitative methods for data collection and analysis. A questionnaire was administered to 60 SME owners operating in Kabale Central Market. The findings revealed that most businesses in the market are small due to their limited marketing strategies, primarily catering to existing local customers familiar with the market's location. These businesses included tied shops, market stalls, street vendors, and hawkers. Typically, these businesses were structured with a single entrepreneur acting as both the boss and the operational staff. The study highlighted that the primary source of startup capital for many of these businesses was personal savings. Major challenges faced by SMEs in Kabale Central Market included taxation and regulatory issues, inadequate storage facilities, competition, inflation, and transportation costs. Solutions proposed to address these challenges included enhancing the development of the financial sector, expanding and diversifying market opportunities, promoting good governance practices, and investing in human and cultural capital development. In conclusion, the study underscored the importance of government initiatives to support and enhance the growth of Small Scale Businesses (SSBs) for the overall economic development of the nation.
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Keywords
Effect, Small, Medium Enterprises, SMEs, Growth, Business, Kabale Municipality, Kabale Central Market
Citation
Atukunzire, Pross (2024). Effect of Small and Medium Enterprises on Growth of Business in Kabale Municipality: A Case Study of Kabale Central Market. Kabale: Kabale University.