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Credit Accessibility and Viability of Small and Medium Enterprises in South Africa

Author

Listed:
  • Thabiso Sthembiso Msomi

    (Durban University of Technology)

  • Avika Maharaj

    (Durban University of Technology)

Abstract

Small and medium businesses (SMEs) play a significant role in supporting economic expansion in economies worldwide. However, lack of accessibility to credit funding has been a major stumbling block in transitioning these businesses from just profitable to ensuring growth and long-term viability. The aim of this research paper was to explore the correlation between access to credit funding obtained and the impact it has on the viability of SMEs. The objectives of the study were to: Investigate the scarcity of accessing credit; Analyze the relationship between access to credit and its impact on the viability of SMEs. The methodology included a quantitative research approach. The methodology included a quantitative research approach. The research design was descriptive, and cross-sectional. The study targeted 105 SMEs operating in KwaZulu- Natal, South Africa.

Suggested Citation

  • Thabiso Sthembiso Msomi & Avika Maharaj, 2022. "Credit Accessibility and Viability of Small and Medium Enterprises in South Africa," EuroEconomica, Danubius University of Galati, issue 1(12), pages 57-68, April.
    • Handle: RePEc:dug:journl:y:2022:i:1:p:57-68
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    File URL: https://dj.univ-danubius.ro/index.php/JAM/article/view/1550/2097
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