Harnessing Community Resources: Exploring Management Strategies for SME Development

This qualitative study explores the utilization of community resources for small and medium-sized enterprise (SME) development. Grounded in grounded theory and thematic analysis, the research aims to uncover insights into the complexities surrounding this phenomenon. Scholarly literature serves as the primary data source, and a systematic search strategy is employed to identify relevant articles. Data analysis involves open, axial, and selective coding techniques to identify emergent themes and patterns. Ethical considerations are paramount throughout the research process. The findings reveal that social capital plays a crucial role in SME development by fostering innovation, collaboration, and access to critical resources. Moreover, management strategies such as microfinance initiatives, entrepreneurial ecosystems, and social entrepreneurship offer promising avenues for leveraging community resources. However, challenges such as limited access to financial capital, inadequate infrastructure, and regulatory constraints hinder SME growth and sustainability. Collaborative partnerships and capacity-building initiatives emerge as potential solutions to overcome these barriers. The implications for future research and practice highlight the need for further empirical studies to explore the effectiveness of different management strategies and the impact of emerging trends on SME development. Policymakers and practitioners should collaborate to design targeted interventions aimed at enhancing SME access to community resources and fostering an enabling environment for entrepreneurial activity.