The Impact of Short-Term Financing as a Determining Factor for the Economic Empowerment of Young People in the City of Pemba (2017-2020)
Keywords:
Innovation, Technological Innovation, Small and Medium Enterprises (SMEs)Abstract
This article focuses on the challenges faced by Small and Medium-sized Enterprises (SMEs) in Mozambique in the context of adopting and implementing technological innovations. It used a quantitative approach and a simple random probability sample. The study seeks to provide information on the innovation environment in which Mozambican SMEs operate. The results of the research, are based on a comprehensive literature review and from structured questionnaires sent to 150 SMEs in 3 Provinces in Mozambique in other to highlight the conceptual diversity of innovation, covering product, process, marketing, and organizational innovations. In addition, the study identifies the presence of both radical and incremental innovation in Mozambique's SMEs, underlining the multiplicity of approaches to innovation. The universal challenges to innovation, such as lack of financial resources, resistance to change, bureaucracy, and lack of alignment, were largely confirmed by the survey results. The research also highlighted the critical importance of government support and a favorable environment for innovation to stimulate SME growth.
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