Many people in Zimbabwe who lost their jobs through company
retrenchments and dollarisation . Accoding to the News Day,Most of them operate as SMEs like but are not formally
registered as businesses, and therefore are not contributing to the
fiscus in the form of taxes.
But, small and medium enterprises have been said to be one of the
answers to Zimbabwe’s economic quagmire, yet they lack capital and bank
loans in order to grow and become bigger businesses.
According to SithembisoNyoni tthe former minister, SMEs including those operated by vendors and those
in rural areas should be legalised and helped to market their products
locally and internationally to ensure they became fully-fledged
businesses.
This is important as it will enable fast flow of cash from company to company and also dependence.
According to the Zimbabwe independent In August last year President Robert Mugabe addressed that reality,
hailing their significant contribution to the economy and to the
generation of livelihood, albeit often insufficient, for millions of the
populace.
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| works seek employement to SMEs after they were retrenched |
The paper identifies that SMEs have been a major source of livelihood
income for many households in Zimbabwe, especially those whose heads
lost their jobs during the economic downturn of 2000 –2008. The SMEs
sector has also provided necessary competition in some sectors of the
economy, especially in the manufacture of furniture, which has kept the
prices within the rich of many. It is high time that a bank which caters only for SMEs. According to Nyasha, C , the head; Reseacher and sale at Cbz holdings Money is not the only answer to seeing SME growing and employing more
people. Policy is. If government policy supports the establishment of
SMEs, and rewards big businesses that have SMEs in their value chains,
money will never be an issue. Most SMEs are failing not because they
don't have money but because they don't have assured contracts
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