Challenges and Opportunities of Youth Small Micro Enterprises and SMEs. The Development in Boditi Town, Woliata Zone

Academic Paper from the year 2020 in the subject Economics - Micro-economics, grade: A, , language: English, abstract: The micro and small business sector is recognized as an essential component of economic development and a crucial element in the effort to lift countries out of poverty. External and internal factors are known to affect the growth of MSEs. The most important external factors influencing growth of MSEs include access to finance, competition, limited production/market place, lack of market for the product or service; and other barriers to trade. The aim of this study was to assess challenges and opportunities of youth small micro enterprises /SMEs/development in boditi town in generally but specifically it helped to identify challenges of youth small micro enterprises /SMEs/ development in boditi town, indicate the opportunities of youth small micro enterprises /SMEs/ development in boditi town and explain who were responsible bodies to sole those challenges in small micro enterprises /SMEs/ development. In this study both qualitative and quantitative method were employed. Cross-sectional study design was employed in line with sampling method which is purposive. Based on Yamane formula totally 394 respondents participated in this study through using employed methods such as in depth interview, key informant interview, FGD to collect qualitative data in detail and survey method to collect quantitative data through employing instruments such as interview guideline, checklists, questioners etc. with audio recorder, note pads and camera. Data analyzed both qualitative and quantitative way and finding states that many challenges including skills and financial gaps and others but this limited with opportunities delivered from town administration and others stake holders. This includes. Providing youth revolving fund in form of loans and work places by municipality for youth SMEs. Also those and NGOs work in town to solve those pronouncing challenges for development of youth SMEs.