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What is Enterprise Development

Handbook of Research on Sustaining SMEs and Entrepreneurial Innovation in the Post-COVID-19 Era
Is the one advanced by the University of Stellenbosch Business School (USB-ED, 2019) thus: “the act of investing time and capital to help people establish, expand or improve business. Enterprise development helps people earn a living or find a way out of poverty, and leads to long-term economic growth for themselves, their families and their communities”. It is therefore understandable why governments are pillars of enterprise development as they, along with the private sector, drive socioeconomic development by providing infrastructure (economic, capital, health, etc.).
Published in Chapter:
SME Sustainability and Growth in Emerging Markets
Chux Gervase Iwu (Cape Peninsula University of Technology, South Africa)
DOI: 10.4018/978-1-7998-6632-9.ch019
The relatedness of the factors that slow down the sustainability and growth of SMEs in emerging markets is discussed in this chapter. The chapter further argues that even though the factors that have encumbered SMEs have gained traction in enterprise development and business management research, how their multidimensional interrelationship can harm the sustainability and growth of SMEs in emerging markets is yet to receive considerable attention. The entrepreneurial ecosystem framework of Mazzarol is used to present a novel approach in this review by attempting a richer explanation of the extent of the mutual connectedness of these factors and how they shape the entrepreneurial ecosystem. This chapter concludes that the factors that inhibit the realization of an impressive sustainable growth of SMEs are interrelated. For instance, the high cost of electricity significantly reduces the profit that can be made by a small business owner, and, in this case, the small business owner may have difficulty paying back a loan obtained in favor of the business.
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