The probable of urban renewal for small medium and micro enterprises: Towards restructuring the spatial-economic makeup of township communities
Article ID: 10523
Vol 9, Issue 4, 2025
Vol 9, Issue 4, 2025
VIEWS - 13 (Abstract)
Abstract
Hopes for inclusion in economic growth activities were sparked by South Africa’s democratic transition. Nevertheless, thirty-four years later, insufficient capability and bad monetary management continue to impede economic growth and development, making it difficult for South Africans to get their just share of the nation’s riches. The South African government launched Small, Medium and Micro Enterprises in an effort to address the triple problems of inequality, poverty, and unemployment. With the intention of financing businesses, a few financial initiatives were established to help and alleviate the burden of SMME owners. Even with South Africa’s high degree of support, SMMEs in townships continue to face difficulties due to restricted market access. The results show that the primary reason for both low revenue and limited market access is inaccessible operating infrastructure. To compile the body of research on SMMEs, their operational space challenges and the spatial characteristics of townships, the study used both conceptual research design and content analysis. The study makes the case that the majority of SMME failures are mostly caused by the inadequate municipal planning for infrastructure and space of local business township. It goes on to suggest that for the South African government to realize its NDP objectives and support the expansion and development of SMMEs through initiatives such as urban renewal, it must properly and efficiently maintain its aging infrastructure.
Keywords
small-medium and micro-enterprise; businesses; township; urban; spatial planning; landscape; urban renewal; national development plan
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DOI: https://doi.org/10.24294/jipd10523
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