ASSESSMENT OF FACTORS AFFECTING SMALL BUSINESSES’ PERFORMANCE IN TANZANIA
Keywords:
Small business, business performance, financial skills, managerial skills, and small businesses.Abstract
In developing countries small businesses are generally regarded as driving force of economic development,
employment creation for poverty reduction. This study assessed internal, external factors affecting small busi
nesses’ performance in Nyamagana District, Mwanza Region in Tanzania. The study used descriptive research
design and data were collected using structured questionnaire. Simple random sampling technique was used
and a sample size of 99 respondents was constituted. The findings revealed that financial, human resources and
managerial problems are the most characterized as internal factors (records management, managerial skills,
Business control system) and external factors (taxation, capital market, physical infrastructure, inflation, and
government control) highly affected small businesses’ performance in Tanzania. The study recommends that
small businesses should be equipped with good and relevant business financial and managerial skills to make
decisions for their business sustainability
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