International Journal on Science and Technology

E-ISSN: 2229-7677   •   Impact Factor: 9.88

A Widely Indexed Open Access Peer Reviewed Multidisciplinary Bi-monthly Scholarly International Journal

Call for Paper Volume 16 Issue 2 April-June 2025 Submit your research before last 3 days of June to publish your research paper in the issue of April-June.
Submit Research Paper Join as a Reviewer

Plagiarism is checked by the leading plagiarism checker TurnItIn

Call for Paper

Volume 16 Issue 2
April-June 2025

Submit your research paper

Indexing Partners
Academia Advanced Sciences Index Bielefeld Academic Search Engine CiteSeer DRJI Google Scholar Independent Search Engine & Directory Network ISI (International Scientific Indexing) Issuu Mendeley Research Networks
RefSeek ResearcherId - Thomson Reuters ResearchGate Scirus Scribd Semantic Scholar UTeM - Universiti Teknikal Malaysia Melaka Wiki for Call for Papers WorldCat Zenodo

Examining the effectiveness of Busines Management Strategies of Indigenous Small Scale Businesses

Author(s) Constance Nachilongo, Marvin Kabubi
Country Zambia
Abstract Indigenous small-scale businesses, deeply rooted in local communities, play a crucial role in preserving traditions, generating employment, and contributing to sustainable development. While globally, small-scale businesses are vital economic contributors, challenges persist in their access to financial resources and effective business management strategies. In Zambia, despite the government's initiatives like the Citizens Economic Empowerment Commission and Rural Enterprise Development Program, these businesses face hurdles in accessing credit due to conventional lending models and a lack of collateral. The research examines the effectives of business management strategies of indigenous small-scale business. The study, guided by three specific objectives: to assess the effectiveness of marketing strategies in enhancing the market visibility and customer engagement, to investigate the credit facilities used and to examine the financial management practices adopted by these businesses in their day-to-day operations. The study adopts a qualitative approach. Purposeful sampling was carried out and targeted 35 small scale business and 15 consumers from Chainda. Findings reveals a diverse range of marketing strategies used by these businesses, including social media marketing, word of mouth/singing, fliers, discounts/promotions, and more. However, they face challenges such as budget constraints and adapting to digital platforms. Regarding credit facility usage, the research shed light on the financial resilience and resourcefulness of these businesses, they predominantly rely on a combination of personal savings, bank loans, support from friends and relatives, microfinance loans, and other innovative sources to fund their ventures. The demand for external financial assistance is substantial; however, numerous businesses encounter barriers in securing formal credit, including the lack of collateral and regulatory obstacles. On the other hand, financial management practices were recognized as essential by these businesses. They emphasize the need to control financial resources, diligently track expenditures, acquire and allocate funds wisely, and maintain proper financial records. Nevertheless, some decision-makers acknowledge a lack of comprehension of financial terms and basic financial knowledge. This highlights an area for improvement and education to empower these businesses in making sound financial decisions. This study offers insights and actionable recommendations for their sustainable growth. Implementing robust business planning, marketing strategies, and digital infrastructure is crucial for small-scale business success. Future research should explore diverse samples using varied methodologies. Government intervention is recommended to create a favorable financing platform with incentives for financial institutions, alongside financial education programs for small-scale business owners
Keywords Indigenous small-scale businesses, business management strategies, marketing, credit facilities, financial management.
Field Business Administration
Published In Volume 16, Issue 2, April-June 2025
Published On 2025-06-05
DOI https://doi.org/10.71097/IJSAT.v16.i2.5935
Short DOI https://doi.org/g9pz7k
View / Download PDF File

Share this


CrossRef

CrossRef DOI is assigned to each research paper published in our journal.

IJSAT DOI prefix is
10.71097/IJSAT

Downloads
Research Paper Format Copyright Permission Form and Undertaking Form Cover Page Vol 15 Isu 4Cover Page Vol 15 Isu 3Cover Page Vol 15 Isu 2

All research papers published on this website are licensed under Creative Commons Attribution-ShareAlike 4.0 International License, and all rights belong to their respective authors/researchers.

CC-BY-SA Open Access

About IJSAT
Fees & Payment
Current Issue
Publication Archive 		Submit Research Paper
Track Submission Status
Publication Guidelines
Publication Ethics
Peer Review & Plagiarism 		Join as a Reviewer
Editors & Reviewers
Reviewer Referral Program
Get Reviewer Membership Certi. 		Website/Journal Policies
Usage Policy
Content Policies
Privacy Policy
Contact Us Message on WhatsApp +91-9687-182-185 editor@ijsat.org