oa Journal of Economic and Financial Sciences - Editorial
|© Publisher:||University of Johannesburg|
|Journal||Journal of Economic and Financial Sciences|
|Affiliations||1 University of Johannesburg|
|Publication Date||Apr 2015|
|Pages||9 - 12|
Small and Medium Enterprises (SMEs) are important catalysts of economic growth, creating employment opportunities and contributing to the gross domestic product (GDP) of their respective countries. Unfortunately, SMEs suffer from a high failure rate due to SME managers' lack of managerial knowledge and skills. SME managers also do not use performance measures which are important in business management and provide support to the managers in decision-making processes. Elize Kirsten, Frans Vermaak and Hendrik Wolmarans determined that the use of a performance measurement tool is important in SMEs, as it can help to improve their performance and chances of survival.
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