Factors influencing development objectives of small to medium size enterprises : case of Kamwala market.

This research investigates the multifaceted factors influencing the development objectives of Small to Medium Size Enterprises (SMEs). In recent years, SMEs have emerged as significant contributors to economic growth and job creation globally, making understanding their development dynamics imperative. Through a comprehensive literature review, this study establishes a theoretical framework encompassing internal and external factors shaping SME development objectives. Utilizing a mixedmethods approach, including surveys and interviews, data was collected from a diverse sample of SME owners and stakeholders. Statistical analysis, including regression analysis was employed to identify and interpret the significant factors affecting SME development objectives. Findings indicate that factors such as access to finance, managerial skills, market conditions, technological adoption, regulatory environment, and networking opportunities significantly influence SME development trajectories. Moreover, qualitative insights provide nuanced understanding and context to the quantitative findings. The implications of these findings for SME owners, policymakers, and other stakeholders are discussed, along with recommendations for fostering SME development. This research contributes to both academic literature and practical strategies aimed at supporting the growth and sustainability of SMEs in diverse socio-economic contexts.