An Examination of SME Development in an Emerging Economy: ‘Funding & Sustainability'

A key premise which underpins this study is the proposition that resolve of the small business financing constraint requires creativity and innovation in both the unfolding of a holistic understanding of the issue and its multi dimensions. The creative interpretation of the emerging holistic picture will facilitate development of an innovative approach to small business funding which embraces the cooperative and collaborative ‘partnership working’ of all stakeholders to the dilemma.

The study adopts a ‘blended’ approach where understanding of the enabling and constraining contexts of small business financing is incrementally derived from integration of the current literature-based understanding and the progressively enriching insight unfolded by the empirical component of the study.

The paper thus concludes with the proffering of a potential innovative approach to small business financing which, derives out of holistic embrace and treatment of ‘demand-side small enterprise as borrower’ and ’supply-side financial institution as lender’ constraints, challenges and opportunities. This is through the positing of the growth-seeking small business as essentially owner manager entrepreneurial learning capability-dependent alongside all key stakeholder actors within their local or regional entrepreneurial ecosystem.