The study investigated the challenges hindering the growth and sustainability ofSmall and Medium Enterprises (SMEs) in Tanzania, focusing on implementingthe SME Policy 2003. The main objective was to assess the effectiveness of SMEpolicy in fostering business growth, particularly in the Mwanjelwa Market inMbeya City. The study employed a descriptive design with a sample size of 90respondents, selected using convenience sampling. The key findings indicate thatSMEs face significant challenges related to access to finance, complex regulatoryenvironments, limited market access, inadequate skills and training, and slowtechnological adoption. The under-utilization of government-built infrastructureand insufficient implementation of supportive policies exacerbate thesechallenges. The study found that the underutilization of storey buildings for smallbusinesses is that business people and customers do not prefer searching for orbuying upstairs. The study concludes that, although the Tanzanian governmenthas supported SMEs, more must be done to address these barriers effectively. Itrecommends enhancing financial literacy programs, simplifying the regulatoryframework, improving market access through infrastructure development and e-commerce, investing in business management training, and promotingtechnology adoption among SMEs. These measures would be essential forcreating a conducive environment for SME growth and ensuring long-termsustainability.
Tonya et al. (Tue,) studied this question.