Innovative Strategies For Social-Economic Development Financial Strategies In The Development Country

This research paper summarizes the arguments and counterarguments within scientific discussion on Small medium scale enterprises constitute backbone of any nations economic development had remained a major contributor in poverty alleviation, employment generation, industrialization. The purpose this phenomenological study was to explore lived experiences small enterprise owners country, regarding raising finances from lending institutions ensure their business growth sustenance. A qualitative approach for as it empowers researcher investigate participants gain deep understanding number who raised funding financing how improve thereby reducing challenges while seeking financing. relevance problem organizational life cycle theory working capital management emphasize concept environment, institutions, knowledge, experience owners. Key findings emerged that there are lack government policies support businesses, not favorably disposed business. wide-ranging factors discussed article also brought fore additional strategies adopted by businesses alternatives banks funding, effect adequate will have operations improvement required government, businesses. results may contribute positive social change creating awareness amongst best financial fund remain profitable sustained. highlighted need both function effectively relevant, continue generate more employment, living standard business, ultimately impact country at large. Finally, added existing literature strategies, challenges, means ameliorate difficulties experienced when institutions.