An assessment of the effects of business information on the performance of small and medium enterprises : a case study of Lusaka central business district.
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Date
2023
Authors
Mulenga, Melody
Journal Title
Journal ISSN
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Publisher
The University of Zambia
Abstract
This study sought to investigate the effect of business information on the performance of Small and Medium Enterprises (SME’s) in Lusaka Central Business District. The objectives of the study were to analyse the sources of business information that are most relevant and valuable for SMEs in the Lusaka Central Business District, to identify the challenges faced by SMEs in accessing business information and the third was to investigate the effect of business information on the performance of SMEs in Lusaka Central Business District. The study sampled 81 business owners from total target population of 102 SMEs that are registered with Zambia Development Agency and have been in operation for two years and above. This research used a cross sectional study and utilized a mixed-methods approach, utilizing the embedded research design which was largely qualitative. This design was used because it entails the researcher in gaining an in-depth understanding of the phenomena under the study by allowing for a deeper exploration of research questions. Research questionnaire with closed ended and an interview guide with open -ended questions were used to collect primary data. Secondary sources such as archival materials, journals, reports, books, and research articles were used to collect secondary data. The findings revealed that a significant proportion of respondents strongly agreed that business information positively influenced business performance. Additionally, the study highlighted various effects of business information, including the identification of new business opportunities, improvement in operational efficiency, targeted marketing efforts, better management of financial resources and market trends, and enhancement of customer service.
These findings underscored the importance of access to relevant and timely business information for SMEs in the Lusaka Central Business District. Business information serves as a critical resource for decision-making processes, enabling SMEs to identify growth opportunities, optimize operations, and adapt to changing market dynamics. The positive correlation between business information and business performance suggested that investments in information gathering and analysis can yield tangible benefits for SMEs in terms of competitiveness and sustainability. The researcher recommended longitudinal study to examine the long-term impact of business information on SME performance. Tracking changes in business performance indicators over an extended period would provide deeper insights into the sustainability of the effects observed in the short term.
Description
Thesis of Master of Business Administration.