Factors influencing the success and failure of small and medium-sized enterprises in Tembisa township, South Africa

M.Tech. (Operations Management)Abstract: The overall purpose of the study was to investigate and establish some of the motivating factors responsible for the failure or success of Small and Medium-sized Enterprises (SMEs) in the Township of Tembisa. A secondary purpose that follows on the first one is to establish to what extent management skills and training skills have an influence on the success or failure of small businesses in Tembisa. The study identified and outlined the business and management skills required for the management of small enterprises in the township of Tembisa. The primary objective of the study is to identify those managerial and business skills that have contributed to the success and or survival of small enterprises. The population for the study was made up of SMEs in Tembisa, which were identified from the overall population of Tembisa Township small business enterprises. The study used a quantitative research method, and questionnaires were completed by 160 small business owners in Tembisa Township. The investigation revealed that it is important for small business owners to have financial management, marketing, time management, technical and interpersonal communication skills to bring success in the business. It was also discovered that small business owners had challenges in accessing credit facilities from financial institutions and individuals. The researcher strongly recommends that those aspiring small business owners must improve on their management skills, attend workshops and seminars in business management in order to reduce the risk of failure. It is also important that financial institutions extend credit facilities to small businesses to support their initiatives