Entrepreneurship

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Effectiveness of institutional mechanisms on small businesses in Mokhotlong and Qacha’s Nek, Lesotho.
(2021) Molebatsi, Mokete Bernard.; Khoase, Refiloe Gladys.; Derera, Evelyn.
The Lesotho Government, like other governments, enacted the Medium, Small and Micro Enterprises (MSMEs) Policy to address the issue of MSME development. It is perceived worldwide that small and medium enterprises (SMEs) constitute a large sphere of economic activity that accounts for the major share of employment and is a powerful force for poverty reduction. However, SMEs are exposed to today’s risky business environment, which compels economies to intervene by effectively implementing MSMEs policies. The main objective of this study was to evaluate the effectiveness of the implementation of the institutional mechanism to assist MSMEs in the Mokhotlong and Qacha’s Nek districts in Lesotho. While economies have adopted mechanisms to develop Small, Medium and Micro Enterprises (SMMEs), several studies have shown that most businesses still face challenges despite the efforts of their governments. Therefore, since the Lesotho Government had implemented the MSME Policy in 2016 to develop the sector, it is essential to assess the effectiveness of the implementation of the Policy in Lesotho. Primary data was collected through the use of questionnaires that were distributed to MSME owners in both districts. The questionnaires were hand-delivered to a sample size of 331, however, only 202 responses were received by the researcher. The list of MSMEs registered with the Ministry of Trade and Industry (MTI) in both districts was used by the researcher to select the respondents using probability sampling also known as the random sampling method. For the respondents who did not indicate their physical addresses on the list a nonprobability sampling method, namely, convenience sampling, was used. The Statistical Package for Social Sciences (SPSS) Windows Version 26 was used to analyse the collected data. The Government of Lesotho has put in place several initiatives to boost MSMEs by establishing the Ministry of Small Business, Cooperatives and Marketing and the MSME Policy among others. While some MSMEs benefited from the Policy, others faced some challenges. Due to perceived barriers such as access to finance, access to training and poor infrastructure, among others, some MSMEs decided to operate informally. The evaluation of the effectiveness of the implementation of the MSME Policy is vital as it might guide policymakers in amending the Policy by devising adequate strategies to create and enhance a conducive environment in which MSME owners can operate. Findings suggest that institutional mechanisms to assist MSMEs in Mokhotlong and Qacha’s Nek are ineffective in the development of MSMEs. The majority of respondents agreed that they are aware of the supporting institutions that are meant to assist MSMEs, and have received such assistance. However, a gap exists in the quality of services provided. Thus, the objective of the Policy will not be met if the various mechanisms put in place to assist MSMEs are not of the quality needed. In terms of the findings, the following recommendations can be made: • The institutional mechanism needs to be improved to achieve the set goals. • The supporting institutions should offer training based on the results of the assessment of the relevant needs of MSMEs. • The quality of service offered by the supporting institutions should be improved. • The market be opened to businesses that want to invest in financial institutions. • The use of new research findings be utilised by managers and policymakers to enable them to easily redesign policies based on scientific information.
The impact of interventions from supporting institutions on managerial competencies: a case of small, medium and micro-sized enterprises in Pietermaritzburg, South Africa.
(2019) Moise, Lusambya Lukendo.; Khoase, Refiloe Gladys.; Derera, Evelyn.
The contribution of Small, Medium and Micro Enterprise (SMME) sector in the economic and social development of a country has been recognised worldwide. Governments around the world have designed interventions to promote the growth of the SMME sector in an attempt to stimulate national economic growth. The South African government, through public and private supporting institutions, devised interventions to provide financial and non-financial support to SMMEs. However, despite these interventions, the failure rate of small businesses in South Africa is still high. Numerous scholars identified lack of managerial competencies as one of the main causes to the failure of SMMEs. Therefore, this study investigated the impact of interventions from supporting institutions on managerial competencies of Small, Medium and Micro-Sized Enterprises (SMMEs) within the context of Pietermaritzburg city in South Africa. The nature of this study is descriptive. A quantitative survey was conducted on a sample of 148 SMMEs’ owners and managers, identified through convenient and snowball sampling. Data were collected by means of personally administered questionnaires. Frequency analysis, crosstabulation analysis with chi-square, Spearman correlation analysis and linear regression analysis were statistical methods employed to analyse the data. The study found that government and private supporting institutions are not the primary sources of developing the managerial competencies of SMMEs’ owners and managers. SMME’s owners and managers rely more on job experience, formal education/training, and In-house training. Most SMMEs’ owners and managers are not utilising different interventions designed by supporting institutions, due to some challenges such as lack of awareness, lack of finance, and too much bureaucracy and red tape. Despite the non-utilisation of services offered by supporting institutions, the study found that receiving interventions from supporting institutions has a significant impact on developing some managerial competencies of SMME’s owners and managers such as conceptual skills and technical skills. Based on the research findings, practical recommendations were provided on how to promote SMMEs through interventions that enhance the managerial competencies of SMMEs’ owners and managers.
Psychosocial determinants of entrepreneurial readiness: the role of TVET institutions in Nigeria.
(2021) Adeniyi, Adeshina Olushola.; Gamede, Vangeli Wiseman.; Derera, Evelyn.
Scholarly works in recent times have made substantial efforts to identify that aspects of entrepreneurship that can stimulate entrepreneurial readiness for venture creation. Perhaps some of the most investigated subjects are personality traits, education, and social values. Previous studies on the need for entrepreneurial skills have established a disparity between the curriculum, pedagogical methods and the required skills for business creation. As a result, identifying the determinants of entrepreneurial readiness is of utmost necessity considering the increasing rate of youth unemployment in Nigeria. This current study aimed at determining psychosocial factors of entrepreneurial readiness by examining the influence of entrepreneurship education (EE), entrepreneurial self-efficacy (ESE) and individual entrepreneurial orientation (IEO) on entrepreneurial readiness. This research study was sustained by the pragmatism philosophical paradigm. Case study research design was employed, and the mixed method approach was used in the collection of data for the purpose of triangulation of results. Through the use of triangulation technique, questionnaires were administered to a sample of 301 exit level students of three selected Technical Vocational Education and Training (TVET) institutions in South-West Nigeria, using convenience sampling strategy. A response rate of 96% from the students was achieved. With the adoption of purposive sampling technique, nine entrepreneurship teachers were selected for in-depth interviews from the three selected TVET institutions. Eight of the respondents granted the interviews, which was 88% response rate. Thematic analysis of the qualitative data was achieved through the use of NVivo 12 software. SPSS version 25 was used in analysing the quantitative data. Descriptive and inferential statistics which include, Pearson’s correlation and regression analyses of the quantitative data were conducted to achieved the research objectives. Three hypotheses were formulated to test the conceptual model through multiple regression analysis. A significant association was found between EE and entrepreneurial readiness. ESE searching, planning and implementing were found to be significantly associated with entrepreneurial readiness, but ESE marshalling has no significant association with entrepreneurial readiness. IEO as a whole showed significant association with entrepreneurial readiness, while risk-taking propensity was non-significant with entrepreneurial readiness. The study established that the exit level students lack the skills to gather economic or business resources towards starting a business. The study also revealed that entrepreneurship curriculum at the selected TVET institutions lacks practical approach. There is no evidence in literature that attempts a mixed method approach to determine psychosocial factors of students’ entrepreneurial readiness in the context of TVET institutions in Nigeria. The outcome of this study revealed that EE, ESE and IEO are psychosocial determinants of entrepreneurial readiness.
A review of government initiatives to stimulate women entrepreneurship in South Africa : 1955-2009.
(2011) Derera, Evelyn.; O'Neill, Richard Charles.
Worldwide, women entrepreneurs play a major role in the economic growth and development of any nation, yet women are still facing a multiplicity of challenges in the small business sector. Women entrepreneurs could play a more significant role in the small business sector given all the necessary support. The main objective of this study was to review the South African government initiatives that were designed to stimulate women entrepreneurship during 1995 to 2009. This topic is exploratory as well as descriptive in nature. As a result of this, qualitative and quantitative data was collected in order to address the research objectives of the study. A non probability sampling technique, known as snowballing was used to identify the research participants. The sample for the study was made up of two different groups of participants; namely women entrepreneurs and experts from the field of entrepreneurship. Data was analysed using content analysis. Although content analysis is often used for analysing qualitative data, it has a limitation in that it sometimes fails to interpret delicate and intricate texts (Denscombe, 2003:221). Because of this limitation, Kruskal Wallis and Chi square tests were used in order to complement content analysis. These two data analysis tools were adopted because of the non parametric nature of the research data. The main limitation of the study was that primary data was collected in Pietermaritzburg in KwaZulu Natal due to limited resources. In addition to this, the sampling technique used has a disadvantage in that the results of the research cannot be generalized to the population at large. However, the empirical results in conjunction with the literature review could assist in policy evaluation of the initiatives that could stimulate the development of women entrepreneurs in this country to a higher level. The empirical findings of the study revealed that women entrepreneurs are still experiencing a lot of barriers to entry into the small business sector such as access to finance, lack of entrepreneurial training and lack of information, just to mention a few. The results also revealed that the government support programmes are failing to address the barriers to entry that women are experiencing in the small business sector. In as much as the government is making progress in providing support programmes towards women entrepreneurship, the empirical findings also revealed that the majority of women entrepreneurs are not aware of the available support programmes that are targeting them. Lack of awareness of the available government initiatives was cited as the major reason why women are not benefiting fully from the government support programmes. Based on the research findings, it could be recommended that the government should review the current policies and programmes that are designed to assist women entrepreneurs in this country in order to evaluate the weaknesses and strengths that are inherent in the system. Future programmes should be designed based on empirical research in order to match the actual needs of women entrepreneurs in relation to the challenges that they encounter. This is crucial because women in the small business sector are a heterogeneous group with different needs and challenges. For this reason, a small business research foundation should be established with the core mandate of carrying out on-going research on the small business sector in this country.

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