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Factors affecting performance/success of small-scale rural non-farm enterprises in Lesotho

Factors affecting performance/success of small-scale rural non-farm enterprises in Lesotho PurposeThis research paper studies the different factors that determine the performance or success of small-scale non-farm enterprises in Lesotho. Evidence shows that small-scale enterprises in developing countries are confronted with different challenges and problems that make them less viable. As a result, the capacity of small-scale non-farm enterprises in employment creation, income generation and providing the means of livelihood to the poor people is not significant. In Lesotho many people who are retrenched from the South African mines are absorbed in small-scale non-farm enterprises to make a living. However, small-scale enterprises are faced with different challenges. The research findings suggest that factors leading to success/performance of rural non-farm enterprises in Lesotho include gender of the entrepreneur, age of the entrepreneur, ability of the entrepreneur to establish wider social networks, large population/market, availability of communication networks and infrastructure, participation of enterprises in the international market, costs of doing business and competition. In this regard, the paper makes policy recommendations that can be used to improve performance/success of small-scale non-farm enterprises.Design/methodology/approachThis research use both qualitative and quantitative research methods to analyse dataFindingsThe main finding of the research is that, foreign competition hinders the success of non-farm enterprises in Lesotho. The research findings further reveal that, enterprises owned by women make the highest turnover compared to those owned by men.Practical implicationsThis study brings in different factors that can ensure or hinder success/performance of small-scale rural non-enterprises.Originality/valueThe research paper is of value in that, it is the first study in Lesotho that considers different factors that determine business success in relation to employment creation, turnover and profitability. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Enterprising Communities: People and Places in the Global Economy Emerald Publishing

Factors affecting performance/success of small-scale rural non-farm enterprises in Lesotho

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Publisher
Emerald Publishing
Copyright
Copyright © Emerald Group Publishing Limited
ISSN
1750-6204
DOI
10.1108/JEC-10-2014-0020
Publisher site
See Article on Publisher Site

Abstract

PurposeThis research paper studies the different factors that determine the performance or success of small-scale non-farm enterprises in Lesotho. Evidence shows that small-scale enterprises in developing countries are confronted with different challenges and problems that make them less viable. As a result, the capacity of small-scale non-farm enterprises in employment creation, income generation and providing the means of livelihood to the poor people is not significant. In Lesotho many people who are retrenched from the South African mines are absorbed in small-scale non-farm enterprises to make a living. However, small-scale enterprises are faced with different challenges. The research findings suggest that factors leading to success/performance of rural non-farm enterprises in Lesotho include gender of the entrepreneur, age of the entrepreneur, ability of the entrepreneur to establish wider social networks, large population/market, availability of communication networks and infrastructure, participation of enterprises in the international market, costs of doing business and competition. In this regard, the paper makes policy recommendations that can be used to improve performance/success of small-scale non-farm enterprises.Design/methodology/approachThis research use both qualitative and quantitative research methods to analyse dataFindingsThe main finding of the research is that, foreign competition hinders the success of non-farm enterprises in Lesotho. The research findings further reveal that, enterprises owned by women make the highest turnover compared to those owned by men.Practical implicationsThis study brings in different factors that can ensure or hinder success/performance of small-scale rural non-enterprises.Originality/valueThe research paper is of value in that, it is the first study in Lesotho that considers different factors that determine business success in relation to employment creation, turnover and profitability.

Journal

Journal of Enterprising Communities: People and Places in the Global EconomyEmerald Publishing

Published: Aug 8, 2016

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